Investing in Eddy County
Eddy County covers 2 rental markets we actively finance in New Mexico — Artesia, Carlsbad. Across those markets the median investment basis averages $257,500, a long-term lease averages $2,000/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $1,724. That produces a county-wide average DSCR ratio near 1.17x.
Basis varies more inside Eddy County than the average suggests. Artesia is the lowest entry point at roughly $250,000, while Artesia currently models the strongest coverage ratio in the county at 1.17x. 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.