Mobile Home & RV Park Income
1031-1035 SMITH Lane Farmington, NM 87401
1031-1035 SMITH Lane, Farmington, NM, 87401
$249,900
For Sale
$249,900
MULTI_FAMILY - Farmington, NM
Property Size2,190 SF
Price / SF$114.11
Days on Market29
Property Features for 1031-1035 SMITH Lane
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 8, Bathroom 3, Bathroom 4, Bedroom 7, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2
- Standard status
- Active
Taxes and HOA fees
- Tax Description
- THE NORTH 227 FT OF THE NWNWSE OF 112913, BEG N69-36-E 295 FT FROM THE INTERSECTION OF N LINE US 550 AND W LINE OF S
- Tax Annual Amount
- 802
Utilities
- Heating system
- Natural Gas
Building Details
- Floors in Building
- 1
- Number of units
- 4
Listing Agency
RE/MAX of Farmington
(505) 327-4777
108 N Orchard Ave. Ste 101, Farmington, NM
Listed by
Sam Todd · License #17823
(505) 327-4777
Added: Jun 19 Checked: Jul 17 at 10:06 am
MLS# 26-716
Listing URL
Copyright © 2026 San Juan County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale income property includes an older laundromat of 2,190 square feet, a site-built house with approximately 1,514 square feet featuring 2 bedrooms, 1 bathroom, and two living areas. The owner does not currently occupy the house. In addition, there are three older single mobile home units, each with 2 bedrooms and 1 bathroom. Each unit pays its own utilities, except for water, which runs around $380 per month. The property also includes another mobile home space where an RV or a singlewide could be placed, though the overall site needs some TLC.
The address is 1031-1035 Smith Lane in Farmington, New Mexico. The property is described in the remarks as centrally located within the area.
For buyers and operators looking for a small, mixed-use income setup, the combination of the laundromat building, the non-owner-occupied house, and multiple older MH units provides several income streams within one site. With separate utilities for the homes and a defined water expense, the property may support straightforward management. The additional RV/singlewide placement option adds flexibility, while the noted TLC requirement should be considered as part of underwriting and renovation planning. Owner will consider REC with large down.
The address is 1031-1035 Smith Lane in Farmington, New Mexico. The property is described in the remarks as centrally located within the area.
For buyers and operators looking for a small, mixed-use income setup, the combination of the laundromat building, the non-owner-occupied house, and multiple older MH units provides several income streams within one site. With separate utilities for the homes and a defined water expense, the property may support straightforward management. The additional RV/singlewide placement option adds flexibility, while the noted TLC requirement should be considered as part of underwriting and renovation planning. Owner will consider REC with large down.
Key Highlights
- Property addresses: 1031, 1033, and 1035 Smith Lane
- Old laundromat included with 2,190 SF
- On‑site 2BR/1BA site‑built house with 2 living areas and approx. 1,514 SF (owner currently does not occupy)
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.3k | $14.76 |
| − Vacancy | −$2.6k | −$1.20 |
| EGI | $29.7k | $13.56 |
| − OpEx | −$13.4k | −$6.10 |
| NOI | $16.3k | $7.46 |
2,190 SF · lease $14.76/SF/yr · vacancy 8.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$233.4K
$204.2K – $272.3K
NOI $16,338 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$453.0K
$396.4K – $528.6K
NOI $31,713 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
1031 exchange properties
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FAQs
What type of property is this?
1031 exchange property - Mixed-income property with an on-site house and multiple older singlewide/MH units, plus an additional RV or singlewide space.
Where is this 1031 exchange property located?
The property is located at 1031-1035 SMITH Lane Farmington, NM.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Property addresses: 1031, 1033, and 1035 Smith Lane; Old laundromat included with 2,190 SF; On‑site 2BR/1BA site‑built house with 2 living areas and approx. 1,514 SF (owner currently does not occupy)
