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Short-Term Rental · Corrales, NM

Short-Term Rental Financing in Corrales, NM

Estimated 0.80x DSCR on a $600,000 short-term rental with $150,000 down — qualified on the property's income, not your tax returns.

Modeled Purchase Price
$600,000
25% Down
$150,000
Loan Amount
$450,000
Est. Monthly PITIA
$3,835
Creditable STR Income
$3,060/mo
Est. DSCR Ratio
0.80x

Short-Term Rental investing in Corrales

Short-term rental financing in Corrales is a different underwriting product than a long-term DSCR loan even though it carries the same name. The lender is crediting nightly revenue instead of a signed lease, which means the documentation, the reserve requirement, and the permit diligence all change.

At the Corrales median of $600,000, a short-term rental prices near $600,000. Minimum down is 25% ($150,000), leaving a loan of $450,000. Estimated all-in PITIA runs about $3,835 per month.

The Corrales ratio math on this product

Gross nightly revenue in Corrales models to about $4,250/month across a full year. Lenders do not credit that dollar-for-dollar — a 28% haircut for vacancy, cleaning, platform fees and management leaves $3,060 of creditable income. Against a PITIA of $3,835, that is an estimated DSCR ratio of 0.80x. That is below the 1.0 threshold, which is normal at this basis. Financing here works one of three ways — more money down, a no-ratio DSCR product, or qualifying on documented short-term rental revenue.

Underwriting notes specific to STR files: plan on 25% down as the floor, six months of PITIA in reserves, and either twelve months of Airbnb/VRBO earnings statements on the subject property or a third-party market revenue study for a property with no operating history. Short-term rental activity is moderate here and local rules vary by zoning district. Verify the permit status of the exact address before you go hard on earnest money — an unpermitted STR is an unfinanceable STR on this product.

Returns and structure

Return metrics at the Corrales median for this product: an estimated cap rate of 3.37%, and monthly cash flow of $775 negative at 25% down. Negative cash flow at the minimum down payment is common in appreciation-led markets; investors close the gap with a larger down payment, a purchase below median, an added unit, or a rate buydown.

Corrales property types compared

Property TypeModeled PriceMin. DownEst. IncomeEst. DSCR
Single-Family Rental$600,00020% ($120,000)$2,825/mo0.70x
2–4 Unit Multi-Family$948,00025% ($237,000)$5,255/mo0.87x
Condo & Townhome$432,00020% ($86,400)$2,232/mo0.69x
Short-Term Rental (this page)$600,00025% ($150,000)$3,060/mo0.80x

All figures model a purchase at the Corrales median of $600,000 with the property-type adjustments described above, at an illustrative 7.50% DSCR rate on a 30-year fixed. Short-term rental income is shown after the standard lender haircut.

Figures on this page are modeled estimates derived from the Corrales median price and market rent, adjusted for short-term rental product characteristics. They are illustrative, not a loan offer or an appraisal. Actual pricing, rent, taxes, insurance, HOA dues and DSCR depend on the specific property and on conditions at the time of application.

Corrales Short-Term Rental FAQ

More Corrales investor resources

Corrales investor guide
Full market analysis and loan options
Single-Family Rental in Corrales
0.70x est. DSCR
2–4 Unit Multi-Family in Corrales
0.87x est. DSCR
Condo & Townhome in Corrales
0.69x est. DSCR
Sandoval County investor hub
Every market we finance in the county
DSCR loan requirements in New Mexico
DSCR payment calculator

Price a short-term rental in Corrales

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