507 S Lake St, Carlsbad, NM, 88220
About This Home
Cozy space bursting with potential! This compact home is the perfect opportunity for a first-time buyer or investor looking to start or expand their real estate portfolio. This property needs some cosmetic updates and a little TLC. The smaller footprint makes 'putting your own stamp on it' a lot more budget-friendly. The 2 outdoor buildings are welcomed extra space. Both have electricity and one has water that could provide additional living space. It could also be used for a private office or she/he shed. Grab your favorite realtor and take a look!
Getting Around
Somewhat Walkable
Very Limited Transit
BikeableSchools
Construction
Condition
- Year built: 1950
Materials
- Roof: Pitched,Shingle
- Construction materials: Frame,Stucco
Type & Style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Range Hood,Free-Standing Range
Basement
- Basement: Crawl Space
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
Features
- Attic
- Flooring: Hardwood,Tile
Heating & Cooling
- Heating features: Forced Air
- Cooling features: Electric,Central Air,Refrigerated
Interior Area
- Total structure area: 870
- Total interior livable area: 870 sqft
Property
Details
- Parcel number: 4157127049499
Features
- Levels: One
- Stories: 1
- Fencing: Chain Link
Lot
- Lot size: 7,501 sqft
- Features: Sidewalk
- Lot size dimensions: 50 x 150
Parking
- Total spaces: 1
- Parking features: Attached Carport
- Has garage: Yes
- Attached garage spaces: 1
- Covered spaces: 1
- Carport: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Winter Weather
- Inland Flooding
- Lightning
- Strong Wind
- Cold Wave
- Hail
- Heat Wave
- Ice Storm
How This Home’s Risks Compare
FEMA Declared Disasters in Eddy County and New Mexico
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $707 | $8,484 |
| Home Insurance * | $104 | $1,248 |
| Property Taxes | $286 | $3,432 |
| Electricity | $148 | $1,780 |
| Total | $1,245 | $14,940 |
Income You'd Need if You Spent...
New Mexico FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-21 | Price change | $140,000 |
| 2026-03-25 | Price change | $154,000 |
| 2026-02-27 | Listed for sale | $159,000 |
| 2018-12-03 | Sold | -- |
| 2018-09-17 | Price change | $100,000 |
| 2018-09-04 | Price change | $109,000 |
| 2018-08-30 | Listed for sale | $120,000 |
For Sale by Agent
View on Zillow