2BR Home in Ruidoso Downs , NM

About This Property

PROPERTY OVERVIEW Located in Ruidoso Downs, NM, this 1955 single-family home features 2 bedrooms, 1 bathroom, and an extended sunroom on a 6,211 sq ft lot. The vacant structure is built on a solid concrete frame, but requires an estimated Contact for details interior rehab to address dated finishes and past bathroom leak damage. Offered via Subject-To financing, an investor can take over the seller's low 3.5% interest rate Rocket Mortgage (Contact for details balance) at ~$764/month. With projected market rents of Contact for details/month and a 2025 tax-assessed value of Contact for details the asset provides strong cash-flow performance as a buy-and-hold rental or seller-finance wrap. KEY NUMBERS Target Purchase Price / Payoff: Contact for details Mortgage Balance: Contact for details (Rocket Mortgage) Interest Rate: 3.5% Monthly Payment (): ~$764.09/month Estimated Market Rent: Contact for details/month Tax Assessed Value: Contact for details Annual Taxes: Contact for details Estimated Rehab: Contact for details PROPERTY DETAILS Address: 219 Mountain View Ln, Ruidoso Downs, NM 88346 Layout: 2 Bed / 1 Bath + Extended Sunroom / Family Room Year Built: 1955 Lot Size: 6,211 sq ft (0.14 Acres) Structure: Solid concrete construction, structurally sound Condition: Requires full interior rehab (dated interior, flooring/carpet replacement, bathroom plumbing leak repair). Functional heating; no central AC. Occupancy: Vacant INVESTOR EXIT STRATEGIES Long-Term Buy Hold Rental Gross Rent: ~Contact for details/month Underlying ~$764/month Estimated Net ~$500 $550/month Notes: Takes advantage of low 3.5% existing debt. Rental-grade rehab can be completed below a full $40k retail budget. COMPARABLE SALES 320 Sierra Ln: $142,000 | 1,001 Sq Ft | 2 Bed / 1 Bath | Sold: 05/14/2025 113 Rawhide Rd: Contact for details | 1,140 Sq Ft | 2 Bed / 1 Bath | Sold: 06/08/2022 304 Reservoir Dr: $157,000 | 980 Sq Ft | 2 Bed / 1 Bath | Sold: 08/11/2022 209 Parker Ln: $160,000 | 1,240 Sq Ft | 3 Bed / 2 Bath | Sold: 03/20/2025 DUE DILIGENCE ACCESS Access: Side door accessible; neighbor monitoring property. Pending: Formal roof inspection and title search verification.

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