Investing in Colfax County
Colfax County covers 4 rental markets we actively finance in New Mexico — Angel Fire, Cimarron, Eagle Nest, Raton. Across those markets the median investment basis averages $300,000, a long-term lease averages $1,581/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $2,098. That produces a county-wide average DSCR ratio near 0.87x.
Basis varies more inside Colfax County than the average suggests. Raton is the lowest entry point at roughly $150,000, while Raton currently models the strongest coverage ratio in the county at 1.29x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.