02/19/2025
💥This is a Unique SubTo Opportunity!💥👉SLIDE TO END👍
3805 N Monterey Ave, Farmington, NM 87401
🤝Terms:
Purchase Price: $384,900
📃📃TWO Mortgages:
📃Mortgage 1 (1st position) - Take over Subto - PAID BY BUYER
Balance: 273,215
Interest Rate: 3.49%
PITI: $1,970.98
Escrow Balance $855.17
Balloon: April 1, 2035
📃Mortgage 2 (HELOC) - PAID by BUYER (to be reimbursed upon sale of the property)
Balance: $73,167
Payment $744.24
💲Total Cash to Close: $39,497 (includes down payment, agent fees, assignment, transaction coordination, and cash to seller)
💥Property Highlights
Spacious and Comfortable Living:
This 4-bedroom, 3-bathroom single-family home offers 3,250 sq ft of living space and is perfectly situated in a peaceful cul-de-sac. Built in 1978, the home boasts a huge kitchen with ample storage, ideal for families or entertaining guests. Not to mention a POOL in the backyard!
🔑Key Features:
Bedrooms: 4
Bathrooms: 3
Living Space: 3,250 sq ft
Kitchen: Oversized with abundant storage, perfect for entertaining.
Lot: Peaceful cul-de-sac setting with privacy.
POOL!
👉Why This Property Stands Out:
Unbeatable Financing Terms:
Enjoy a rare 3.5% fixed interest rate, significantly below market rates.
Manageable entry fee of $39,497, covering all costs, including the down payment and fees.
💰♻️Investment Opportunity:
Rental Market Potential: Farmington’s average rent for a 4-bedroom home is approximately $2,295/month, offering potential for positive cash flow.
📍Location Benefits:
Farmington, NM, is a growing market with steady demand, supported by major employers such as San Juan Regional Medical Center and industries like energy, healthcare, and retail.
Flexible Use:
Whether you’re an investor seeking a cash-flowing asset or a family looking for your dream home with affordable financing, this property checks all the boxes.
