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For sale
    • Price cut: $8K (5/12)
    $172,000

    501 E Palace Ave, Hobbs, NM 88240

    2beds
    998sqft
    : 
    $1,124/mo
    Get pre-qualified
    Single Family Residence
    Built in 1960
    -- sqft lot
    $-- Zestimate®
    $172/sqft
    $-- HOA

    What's special

    Fresh modern interiorBrand-new roofUpdated finishesFunctional layoutRenovated kitchen
    This charming 2-bedroom, 1-bath home in Hobbs, NM has been completely updated throughout the interior, including a brand-new roof for added peace of mind. Step inside to find a fresh, modern interior with updated finishes, a bright and inviting living space, and a functional layout perfect for everyday living. The renovated kitchen and bathroom add style and convenience, making this home ideal for first-time buyers, downsizers, or investors. Dont miss this turnkey opportunity!
    129 days
    |
    286
    |
    13
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Sandra Ortega 575-704-0308,

    United Realty, LLC - Hobbs 575-392-3000

    Source: New Mexico MLS,MLS#: 20261783MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 2
      • Bathrooms: 1
      • Full bathrooms: 1
      Heating
      • Forced Air
      Cooling
      • Central Air
      Features
      • Has fireplace: No
      Interior area
      • Total structure area: 998
      • Total interior livable area: 998 sqft

      Property

      Features
      • Stories: 1
      Lot
      • Topography: Irregular Lot
      Details
      • Parcel number: 4000106920001

      Construction

      Type & style
      • Home type: SingleFamily
      • Property subtype: Single Family Residence
      Materials
      • Stucco
      Condition
      • Year built: 1960

      Utilities & green energy

      • Utilities for property: Electricity Connected

      Community & HOA

      HOA
      • Has HOA: No
      Location
      • Region: Hobbs

      Financial & listing details

      • Price per square foot: $172/sqft
      • Tax assessed value: $47,817
      • Annual tax amount: $430
      • Date on market: 3/27/2026
      • Listing agreement: Exclusive Right To Sell
      • Listing terms: Cash,Conventional,VA Loan
      • Electric utility on property: Yes

        Estimated market value

        Not available

        Estimated sales range

        Not available

        $1,609/mo

        Price history

        DateEventPrice
        5/12/2026Price change$172,000-4.4%$172/sqft
        Source: New Mexico MLS #20261783 Report a problem
        3/27/2026Listed for sale$180,000$180/sqft
        Source: New Mexico MLS #20261783 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$430 -1.2%$15,939
        2024$436 -1.3%$15,939
        2023$442 +20.4%$15,939 +18.9%
        2022$367 +3.3%$13,411 +3%
        2021$355 +1.5%$13,020
        2020$350 +1.8%$13,020
        2019$344 +1.1%$13,020
        2018$340 +26.5%$13,020 -50.5%
        2017$269 +20%$26,286
        2016$224 $26,286 +3%
        2015$224 $25,521 +3%
        2014-- $24,777 +3%
        2013-- $24,054 +3%
        2012-- $23,355 +3%
        2011-- $22,674 +3%
        2010-- $22,014
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.
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        Climate risks

        Neighborhood: 88240

        Getting around

        36 / 100
        Car-Dependent
        37 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: None/Other
        • Middle: None/Other
        • High: None/Other

        Source: New Mexico MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

        A local agent can set up tours, give advice and negotiate with sellers.

        A local lender can help you make sure your offer is ready when you are.

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