Rare find commercial/residential property in heart of the popular artist and entertainment tourist destination, Madrid New Mexico, right on the Turquoise Trail National Scenic Byway, Hwy 14. It has an Owner Occupancy Business License and is perfectly situated for a vacation rental, retail/gallery, or live/workspace. Covered front porch entrance into a spacious and sunlit front room-gallery, kitchen, bathroom, bedroom, and a newly remodeled back room adds a living room, office or additional sleeping area. Basement area, sun room and yard.. 23 miles from Santa Fe, Madrid attracts visitors from both Santa Fe and Albuquerque as well as National and International tourists and is famous for its many unique shops and galleries, Christmas light display, 4th of July and Christmas Parades, and Maggie's Diner biker photo op and Wild Hogs movie memorabilia.
Property Details
Property Features
Property Information:
Architectural Style: Northern New Mexico
Year Built: 1930
Living Area: 1,400 SqFt
Listing Office:
Office Name: Cholla Properties
Office Phone: (505) 438-7330
Listing Agent: Terrance Scott Polly
Interior Features
Interior Information:
Basement: No
Interior: Interior Steps
Bedroom and Bathroom Information:
Full Bathrooms: 1
Total Bedroom Count: 2
Exterior Features
Parking Information:
Parking: Direct Access
Lot Features
Lot Information:
Lot Size: 0.17 Acres
Utilities
Utilities Information:
Heating: Propane
Cooling: Evaporative Cooling, Window Unit(s)
School Info
Assigned Schools Information:
Capital High School, Public District Grades 9-12
Calvin Capshaw Middle School, Public District Grades 7-8
Other
Directions Information:
Directions: Enter Madrid on Highway 14 from Santa Fe and the property is on the left in middle of Madrid.
Price Information
Listing Price Info
Price Summary:
List Price: $425,000
Price Per SqFt: $304/SqFt
HOA Fees:
Amount: $20
Frequency: Annually
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Santa Fe South, NM.
We're sorry, we currently don't have sales or tax history data for this listing.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$2,190
Per Month
Principal & Interest
$2,122
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$1
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$1,341
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Middle School
4
/10
Calvin Capshaw Middle School
351 East Zia Rd
Distance between this listing and this school20.01 miles
Public District Grades 7-8
High School
5
/10
Capital High School
4851 Paseo Del Sol
Distance between this listing and this school16.06 miles
Public District Grades 9-12
Nearby Schools
2
/10
Santo Domingo Elementary School
100 Hwy 22 West
Distance between this listing and this school10.66 miles
Public District Grades PK-5
4
/10
Cochiti Elementary School
800 Quail Hill Trl
Distance between this listing and this school15.23 miles
Public District Grades PK-5
6
/10
Amy Biehl Community School At Rancho Viejo
310 Avenida Del Sur
Distance between this listing and this school15.56 miles
Public District Grades KG-6
Assigned Schools
4
/10
Calvin Capshaw Middle School
351 East Zia Rd
Distance between this listing and this school20.01 miles
Public District Grades 7-8
Nearby Schools
3
/10
Santo Domingo Middle School
100 Hwy 22 West
Distance between this listing and this school10.66 miles
Public District Grades 6-8
4
/10
Cochiti Middle School
800 Quail Hill Trl
Distance between this listing and this school15.23 miles
Public District Grades 6-8
Assigned Schools
5
/10
Capital High School
4851 Paseo Del Sol
Distance between this listing and this school16.06 miles
Public District Grades 9-12
Nearby Schools
8
/10
Academy For Tech & Class
74 A Van Nu Po Rd
Distance between this listing and this school14.51 miles
Public Charter Grades 7-12
7
/10
The Master Program
6401 S Richards Ave
Distance between this listing and this school16.13 miles
The neighbors living near this home have an average income of $64,080. Typical income of Santa Fe South, NM residents is between $35k-100k annually. Most families are single, no kids. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 2872 Nm 14
What is the listing price of this property?
The listing price of 2872 Nm 14 property is $425,000.
What type of property is this?
The property 2872 Nm 14 is a house located in Madrid, New Mexico, 87010.
Is this property for sale now?
Active Listing: 2872 Nm 14 is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 2872 Nm 14 are: Calvin Capshaw Middle School: GreatSchools Rating 4/10Capital High School: GreatSchools Rating 5/10
How many bedrooms and bathrooms does this property have?
The property at 2872 Nm 14 has 2 bedrooms and 1 bathroom.
What is the square footage of this property?
The property 2872 Nm 14 is 1,400 SqFt (source: MLS/tax record).
This home is located at 2872 Nm 14 in Madrid, NM and zip code 87010. This 1,400 square foot home, which was built in 1930, sits on a 0.17 acre lot. Features: 2 bedrooms, 1 bathroom. It has been listed on Rocket Homes since May 31, 2023 and is currently priced at $425,000.
While more than 8 listings in Santa Fe South, NM in May 2024 were sold above asking price, there were more than 16 listings sold at asking price, and more than 25 were sold below. The number of listings in Santa Fe South, NM increased by 8.3% between April 2024 and May 2024. The median list price of listings available in May 2024 was $667,416, while the average time on the real estate market was 35 days.
From Rocket Homes Real Estate and based on county public records data.