701 Lava Ave, Grants, NM, 87020
About This Home
This versatile duplex in Milan, New Mexico, presents a fantastic investment opportunity with two distinct units. The first unit features 3 bedrooms and 2 baths, while the second offers 2 bedrooms and 1 bath. In addition, the property includes a spacious lot, ideal for parking a manufactured home to add another income-generating unit.Each unit is equipped with separate electric and gas meters, ensuring independent utilities for tenants. Both units currently have long-term renters in place, providing steady income. Swamp coolers offer efficient cooling, while the durable metal roof enhances the property's longevity.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: Resale
- Year built: 1977
Materials
- Construction materials: Frame,Stucco
Type & Style
- Home type: MultiFamily
- Property subType: Duplex,Multi Family
Interior
Appliances
- Appliances included: Refrigerator
Bedrooms & Bathrooms
- Bedrooms: 5
- Bathrooms: 3
Features
- Flooring: Carpet,Tile
Heating & Cooling
- Heating features: Central,Forced Air
- Cooling features: Evaporative Cooling
Interior Area
- Total structure area: 1,922
- Total interior livable area: 1,922 sqft
Property
Details
- Parcel number: 2058063110323
- Zoning description: R-1
Features
- Levels: One
- Stories: 1
Lot
- Lot size: 0.38 Acres
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
- Lightning
- Inland Flooding
- Winter Weather
- Cold Wave
How This Home’s Risks Compare
FEMA Declared Disasters in Cibola 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 | $702 | $8,424 |
| Home Insurance * | $90 | $1,080 |
| Property Taxes | $54 | $648 |
| Electricity | $148 | $1,780 |
| Total | $994 | $11,928 |
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)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2025-05-22 | Listed for sale | $139,000 |
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