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3 Beds
1 Bath
1,300 sqft

$255,000

309 N Lake Street, Carlsbad NM, 88220

Price per sqft$196.15
Built in1950
Property size1,300 sqft
Property typeResidential
Courtesy of Jerika Parent with Century 21 Dunagan Associates

Overview

Active

Listed Jun 4, 2026

Updated Jun 30

Charming property with exceptional versatility and income potential in the heart of town. The main residence offers approximately 1,300 square feet of comfortable living space with 3 bedrooms and 1 bathroom, complemented by a detached 1-car garage. Situated at the rear of the property is a separate approximately 444-square-foot guest house featuring a loft area, private entrance, and convenient alley access with dedicated parking. Currently generating $2,450 in monthly rental income, with the main home leased at $1,500 per month and the rear unit at $950 per month, this property presents an attractive opportunity for investors seeking immediate cash flow. At the same time, its flexible layout makes it equally appealing for owner-occupants looking for additional rental income, guest accommodations, or multigenerational living options. The shared laundry area is in the garage for added convenience. Well-loved and full of character, this property offers a welcoming atmosphere, established rental history, and plenty of potential for its next owner. Tenants may convey with the sale or be provided a 30-day notice, offering flexibility to suit a variety of buyer needs.

$1,697/mo

Est. mortgage payment based on a $255,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
20263298

Interior Features

Bedrooms
3
Bathrooms
1
Cooling
Yes
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.17 Acres

Other Property Details

Taxes
$1,744
Tax Frequency
Annually
Garage
Yes
MLS provider logo

Property information should be verified by buyer. Listing information provided in part by the New Mexico Association of REALTORS®. Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this web site comes in part from the New Mexico Association of REALTORS®. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Katharine Fly shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

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