NOT LISTED FOR SALE

1028 E Bender Blvd Hobbs, NM 88240

Estimated Value: $766,958

2 Beds
1 Bath
-- Sq Ft
1.73 Acres

Last Sold July 30, 2023

Current estimated payment $4,174/month

212 Days on Market

About This Home

As of July 2023

Based on the current average rents of $425 per month, ask price of $750,000 the property’s measures of investment performance include a 5.66 GRM, 8.13% cap rate after reserves, $28,846 per unit, $41.21 per sf and a before tax IRR of 25.20% and an after-tax IRR of 20.60%. The property features 26 individual buildings with two bedroom, one bathroom units and is an extreme value add opportunity. Full inspections and renovation quotes are available to qualified investors who complete the online confidentially agreement This investment / redevelopment opportunity is not for the first time investor or the faint of heart – it is going to take a lot of money and hands on effort to get the property headed in the right direction, but the potential arbitrage is still large for the risk. How large you ask? Well the potential upside is over $714,412 The Seller is willing to seller finance at a price of $750,000 with 25% down, 30 year amortization, 5.5% interest rate, 5 year balloon and

Last Agent to Sell the Property

Todd Clarke

N.M. APARTMENTS, INC. License #13711 Listed on: 11/28/2022

Last Buyer's Agent

Bobby Shaw

BURKETT - SHAW REALTY / HOBBS

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,224

Year Built

  • Built in 1980

Lot Details

  • 1.73 Acre Lot

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Listing and Financial Details

  • Auction
  • Assessor Parcel Number 4226106942495

Community Details

Overview

  • No Home Owners Association
  • 26 Units

Amenities

  • No Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,224

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Directions: From Dal Paso and Bender, West on Bender to propety.
  • Year Built: 1980
  • Reso Property Sub Type: Multi Unit 5+
  • Prop. Type: Residential Income
  • ResoLaundryFeatures: None
  • Co List Office Mls Id: HOBOBBY SH
  • Co List Office Phone: 575-392-2023
  • ResoSpecialListingConditions: Arm Length Sale (Unrelated Parti, Auction
  • Special Features: Auction
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bedrooms: 2

Exterior Features

  • Acres: 1.73

Utilities

  • Cooling Y N: No
  • HeatingYN: No

Condo/Co-op/Association

  • Association: No

Lot Info

  • Lot Size Sq Ft: 75358.8
  • ResoLotSizeUnits: Acres
  • Parcel #: 4226106942495
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 26
  • Building Area Units: Square Feet

Tax Info

  • Tax Annual Amount: 1224

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 31, 2022
Sold by
Jazmin Coss-Ponce and Jazmin Cinthia
Bought by
Garcia-Banda Jose Angel and Garcia Ruth
Current Estimated Value
$766,958
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Garcia-Banda Jose Angel -- First American Title
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/30/2023 07/30/23 Sold -- -- --
06/28/2023 06/28/23 Pending -- -- --
04/05/2023 04/05/23 Price Changed $750,000 +6.4% --
11/28/2022 11/28/22 For Sale $704,572 -- --
Source: New Mexico MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $1,297 $47,463 $7,457 $40,006
2023 $1,277 $46,081 $7,240 $38,841
2022 $1,224 $46,081 $7,240 $38,841
2021 $1,185 $43,436 $6,824 $36,612
2020 $1,133 $42,171 $6,625 $35,546
2019 $1,081 $40,943 $6,432 $34,511
2018 $1,038 $39,751 $6,245 $33,506
2017 $1,066 $115,779 $18,189 $97,590
2016 $1,077 $112,407 $17,658 $94,749
2015 $958 $109,134 $17,145 $91,989
2014 -- $105,957 $16,647 $89,310
Source: Public Records

Agents Affiliated with this Home

  • Todd Clarke

    Seller's Agent in 2023

    Todd Clarke

    N.M. APARTMENTS, INC.

    (505) 480-8885

    225 Total Sales

    Todd Clarke
    Section Image
  • Bobby Shaw

    Buyer's Agent in 2023

    Bobby Shaw

    BURKETT - SHAW REALTY / HOBBS

    (575) 399-0272

    63 Total Sales

    Bobby Shaw
    Section Image
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Map

Source: New Mexico MLS

MLS Number: 20226240

New Mexico MLS

APN: 4000068680001

New Mexico Lea County Hobbs 88240

1028 E Bender Blvd, Hobbs, NM

This home is located at 1028 E Bender Blvd, Hobbs, NM 88240 since 28 November 2022 and is currently estimated at $766,958. This property was built in 1980. 1028 E Bender Blvd is a home located in Lea County with nearby schools including Coronado Elementary School, Highland Middle School, and Hobbs Freshman High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

New Mexico MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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