NOT LISTED FOR SALE

509 W Avenue I Lovington, NM 88260

Estimated Value: $418,000

2 Beds
1 Bath
4,029 Sq Ft
$104/Sq Ft Est. Value

Last Sold March 18, 2022

Current estimated payment $2,402/month

206 Days on Market

Highlights

  • No HOA
  • Tile Flooring
  • Laundry Facilities
  • Refrigerated Cooling System
  • Forced Air Heating and Cooling System
  • 1-Story Property

About This Home

As of March 2022

If you are looking for an investment property and are thinking of rentals. come see this offering. 5 total units (2 duplexes and one 2 bedroom Home). All 5 units have been updated with new flooring, new carpet, new kitchen cabinets, new appliances, new doors, light fixtures, windows, paint and updated bathrooms. Each unit has 2 bedroom 1 bath that are large and well laid out. Each has a large living area, kitchen with dining area, free standing range/oven and refrigerator. Heat and Refrigerated a/c are new. Great for small families or singles. Located close to Lovington High School. All offered in a package together.

Last Agent to Sell the Property

Harold Lawson

HAROLD LAWSON & ASSOCIATES REALTORS License #7406 Listed on: 07/29/2021

Last Buyer's Agent

Haley Kinney

UNITED REALTY, LLC - HOBBS License #51753

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,114

Year Built

  • Built in 1950

Lot Details

  • 0.32 Acre Lot
  • Lot Dimensions are 100 x 140

Home Design

  • Flat Roof Shape
  • Slab Foundation
  • Frame Construction
  • Pitched Roof
  • Stucco

Interior Spaces

  • 4,029 Sq Ft Home
  • 1-Story Property
  • Free-Standing Range

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Utilities

  • Refrigerated Cooling System
  • Forced Air Heating and Cooling System
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number 22268

Community Details

Overview

  • No Home Owners Association
  • 5 Units

Amenities

  • Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,114

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Directions: Going North on Main Street, Turn Left (west) at the intersection of Main and ave K, go approx 5 Blocks then turn Right (North) at the intersection of 5th street and ave K, Go 2 blocks, property is on the left hand (West side) of the street.
  • Year Built: 1950
  • Reso Property Sub Type: Multi Unit 5+
  • Prop. Type: Residential Income
  • ResoLaundryFeatures: Yes
  • ResoSpecialListingConditions: Arm Length Sale (Unrelated Parti
  • Reso Flooring: Carpet, Tile
  • Unit Levels: One
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Free-Standing Range, Refrigerator, Electric Water Heater
  • Total Bedrooms: 2
  • Stories: 1
  • ResoLivingAreaSource: Owner

Exterior Features

  • Roof: Flat, Pitched
  • Acres: 0.3214
  • Construction Type: Frame, Stucco
  • Foundation Details: Slab

Utilities

  • Utilities: Electricity Connected, Sewer Connected
  • Cooling: A/C-Refrigerative, Electric, Central Air, Refrigerated
  • Cooling Y N: Yes
  • Heating: Electric, Forced Air
  • HeatingYN: Yes
  • Water Source: Water-City

Condo/Co-op/Association

  • Association: No

Lot Info

  • Lot Dimensions: 100 x 140
  • Lot Size Sq Ft: 14000
  • ResoLotSizeUnits: Square Feet
  • Parcel #: 22268
  • Zoning Description: B
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Number Of Units Total: 5
  • Building Area Units: Square Feet

Tax Info

  • Tax Annual Amount: 4113.93

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 29, 2021
Closed on
Mar 18, 2022
Sold by
Ronny Reeder
Bought by
Kma Properties Llc
Seller's Agent
Harold Lawson
HAROLD LAWSON & ASSOCIATES REALTORS
Buyer's Agent
Haley Kinney
UNITED REALTY, LLC - HOBBS
List Price
$395,000
Current Estimated Value
$418,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.48%
Original Mortgage
$355,850
Outstanding Balance
$149,604
Interest Rate
3.39%
Mortgage Type
Credit Line Revolving
Estimated Equity
$286,396

Purchase Details

Closed on
Nov 5, 2019
Sold by
Mapes Mark and Mapes Demetria A
Bought by
Mapes Mark

Purchase Details

Closed on
Oct 29, 2019
Sold by
Livingston Kenneth and Livingston Irene
Bought by
Alexander Patrick and Alexander Casey
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
Kma Properties Llc -- First American Title
Mapes Mark -- First American Title Ins Co
Reeder Ronny -- First American Title Ins Co
Reeder Ronny -- First American Title Ins Co
Alexander Patrick -- First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Kma Properties Llc $355,850
Closed Kma Properties Llc $355,850
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/18/2022 03/18/22 Sold -- -- --
02/20/2022 02/20/22 Pending -- -- --
01/13/2022 01/13/22 For Sale $395,000 0.0% $98 / Sq Ft
10/27/2021 10/27/21 Off Market -- -- --
07/29/2021 07/29/21 For Sale $395,000 -- $98 / Sq Ft
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 $2,100 $68,218 $11,667 $56,551
2023 $2,129 $68,218 $11,667 $56,551
2022 $1,615 $68,218 $11,667 $56,551
2021 $1,560 $50,256 $2,161 $48,095
2020 $990 $31,679 $2,098 $29,581
2019 $964 $30,756 $2,037 $28,719
2018 $929 $29,861 $1,978 $27,883
2017 $895 $86,973 $5,760 $81,213
2016 $861 $84,438 $5,592 $78,846
2015 $843 $81,978 $5,430 $76,548
2014 -- $79,590 $5,271 $74,319
Source: Public Records

Agents Affiliated with this Home

  • H

    Seller's Agent in 2022

    Harold Lawson

    HAROLD LAWSON & ASSOCIATES REALTORS

    (575) 396-5354

    120 Total Sales

    Harold Lawson
    Section Image
  • Haley Kinney

    Buyer's Agent in 2022

    Haley Kinney

    UNITED REALTY, LLC - HOBBS

    (575) 631-0445

    169 Total Sales

    Haley Kinney
    Section Image
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Map

Source: New Mexico MLS

MLS Number: 20214110

New Mexico MLS

APN: 4000222680001

New Mexico Lea County Lovington 88260

509 W Avenue I, Lovington, NM

This home is located at 509 W Avenue I, Lovington, NM 88260 since 29 July 2021 and is currently estimated at $418,000, approximately $103 per square foot. This property was built in 1950. 509 W Avenue I is a home located in Lea County with nearby schools including Llano Elementary School, Ben Alexander Elementary School, and Jefferson Elementary 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.

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