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    213-215 Michigan Dr Elephant Butte, NM 87935-0000

    • Land
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 213-215 Michigan Dr

    Property type
    Land

    Description

    This exceptional .6432-acre parcel, located at 213-215 Michigan Drive in Elephant Butte, New Mexico, presents a unique opportunity for residential development. The property boasts a generous 28,017.79 square foot lot size, conveniently situated on a paved road. While no utilities are currently on-site, city water, sewer, and electricity are readily available for connection. Natural gas is also available but requires an extension. The land itself is generally level, sloping gently towards the rear. Zoned R-1-A for single-family residential use, this location allows for the construction of both stick-built homes and mobile homes, subject to minimum square footage requirements of 1,000 square feet and a minimum width of 22 feet. The asking price for this desirable property is $39,900. Its ideal location and zoning make it an attractive investment for builders and individuals seeking to construct their dream home in the desirable Elephant Butte area (zip code 87935-0000). The property is located in Sierra County, New Mexico.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elephant Butte
    County
    Sierra
    State
    New Mexico
    Longitude
    -107.222
    Latitude
    33.2037

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    Elephant Butte, NM 87935-0000
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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