About This Property
Owner financing: $99 down plus a $195 document fee. Financed price $10,975. Term options: 1 year at 0% ($906.33/mo); 2 years at 9% ($496.87/mo); 5 years at 9% ($225.77/mo); 9 years at 9% ($147.29/mo). Pay-in-full price: $9,877 (10% cash discount). Per the seller, no business or commercial use is allowed while the property is under a loan contract. This is an exciting group of three adjoining lots. They are 3/4 mile west of the Manzano Expressway, and 1/4 mile east of the De Haan Loop. Less than 1.5 miles to the southwest is the new Rio Vista Development, where they are building 200 new homes plus commercial development. La Merced Elementary School is less than 2 miles away. All three lots have frontage along platted Delove Street, with Lot 15 being a large corner lot at the intersection with Kardeen Circle. They are less than 150 yards from Formosa Boulevard, which connects with both the Manzano Expressway and the De Haan Loop. Highway 47 is two miles to the west. Lot 15 is approximately 0.42 acre, Lots 16 and 17 are each approximately 0.25 acre. Whether you intend to invest or build, cheap land of this quality is becoming harder to find. Buy now before the price inevitably goes up.
Location
Rio Del Oro Investors, Unit 48 Block 60 Lots 15,16,17, Valencia County, NM
Outline shown is about 0.8 acres. Approximate boundaries from GIS or the seller, not a survey. Get a survey before you build or fence.
Owner Finance Terms
Owner finance agreements are subject to state and local laws. Always consult a licensed real estate attorney in NM before signing any agreement.
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