Roof and Evaporative coolers were replaced in 2022. Tenants pay gas & electric with separate meters. Landlord is paying water, sanitation & sewer. Current rents have not been evaluated or increased in many years. All tenants have occupied the property for over two years and are now on a month to month basis. Property is located close to schools, shopping and convenience. Each unit has 2 bedrooms and 2 baths. The current lender does have an FHA loan available with an owner occupant.
The median home value in Farmington, NM is $195,300. This is higher than the county median home value of $163,600. The national median home value is $219,700. The average price of homes sold in Farmington, NM is $195,300. Approximately 58.72% of Farmington homes are owned, compared to 28.78% rented, while 12.5% are vacant. Farmington real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Farmington real estate agent to arrange a tour today!
Farmington, New Mexico 87402 has a population of 45,857. Farmington 87402 is more family-centric than the surrounding county with 31.52% of the households containing married families with children. The county average for households married with children is 29.28%.
The median household income in Farmington, New Mexico 87402 is $55,179. The median household income for the surrounding county is $49,686 compared to the national median of $57,652. The median age of people living in Farmington 87402 is 32.9 years.
The average high temperature in July is 90.9 degrees, with an average low temperature in January of 20 degrees. The average rainfall is approximately 11.6 inches per year, with 13.6 inches of snow per year.