I'm looking for an investor for a unique situation. I need someone to pay $145,000 for a property that's worth approximately the same. It could easily be rented for $1,200 to $1,300. The house is a 2200 square foot manufactured home with 4 bdr., 2 bath, a game room, a huge living room, a huge kitchen with a walk in pantry, a dining room, and a laundry room. It's on ½ acre of fenced land in a semi-rural area on the outskirts of Rio Rancho, NM. It is the largest and nicest in the neighborhood.
During the housing boom, Rio Rancho was the 3rd or 4th fastest growing city in the US. What the investor gets - Rio Rancho and the state are going to extend Paseo del Volcan to connect to Paseo del Norte (NM 550) to improve the commute to and from Albuquerque. This new extension crosses the road on which the house is located about 4 houses away. This gives the potential for the value of this property to seriously increase. In the mean time, this property could be a good rental property with positive monthly cash flow.
Please contact me for more information.