706 N 1st St, Gallup, NM, 87301
About This Home
Multi-Family Investment Opportunity: Dual 3-Bedroom Units + Vacant Lot with Storage Discover an excellent income-producing property featuring two separate 3-bedroom residences and additional development/storage potential on a vacant lot. Perfect for investors seeking strong rental cash flow, house hacking, or portfolio expansion. Property Highlights Main Unit: 3 bedrooms, 2 bathrooms, 1,720 sq ft of living space Second Unit: 3 bedrooms, 1 bathroom, 822 sq ft of living space Total Living Space: Approximately 2,542 sq ft Additional Lot: Vacant parcel included with two storage units already in place ideal for extra rental income, workshop space, or future expansion This multi-family setup offers flexible living arrangements or turn-key rental income. The larger unit provides spacious family-style living with two full baths, while the smaller unit delivers efficient, cozy accommodations. Both units are well-suited for attracting quality tenants in a steady rental market. Call Michael Mazel at 505-519-6715.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1959
Materials
- Construction materials: Frame,Siding
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence
Interior
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 2
Features
- Flooring: Carpet,Laminate,Vinyl
- Fireplace features: Pellet
Heating
- Heating features: Forced Air
Interior Area
- Total structure area: 2,542
- Total interior livable area: 2,542 sqft
Property
Details
- Parcel number: 2106088059437
Features
- Stories: 1
- Patio & porch: Covered,Patio Covered
- Exterior features: Covered
- Fencing: Cross Fenced,Fence
- Topography of land: Cross Fenced, Fence, Irregular Lot
Lot
- Lot size: 0.27 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
- Cold Wave
- Inland Flooding
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters in McKinley 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 | $1,188 | $14,256 |
| Home Insurance * | $133 | $1,596 |
| Property Taxes | $68 | $816 |
| Electricity | $180 | $2,168 |
| Total | $1,569 | $18,828 |
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 |
|---|---|---|
| 2026-08-14 | Price change | $227,500 |
| 2026-07-01 | Listed for sale | $235,000 |
View on Zillow