6460 Gannett Dr NE · Rio Rancho, NM 87144

$330,000

3 bd · 2.0 ba · 1,571 sqft · SingleFamily · 130 Days on market

Built 2023 4,792 sqft lot $210/sqft · 9% below area Est $362k · 9% under $30/mo HOA · 1% of rent

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +11.5/15.0
• Cash flow +7.9/30.0
• Schools +5.2/10.0
• Rent growth +4.2/5.0
• Livability +3.6/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Motivated Seller!!! Seller is offering the washer & dryer! Call this HOME!! An affordable home with a shorter commute for those employed in the Santa Fe area. For the outdoor enthusiast, hiking and off-roading are nearby, or a quick get-away for a day trip to the Jemez. Come inside to a sparkling and bright open floor plan. For the chef the kitchen offers an island, quartz silestone countertops, gas range, and stainless steel appliances with a pantry. Enjoy a private primary suite separate from the other bedrooms. BBQ and entertain under the covered patio in our beautiful New Mexico weather.

Key facts

• Pantry
• Open floor plan
• Island

Tags

• OPEN FLOOR PLAN
• ISLAND
• QUARTZ SILESTONE COUNTERTOPS
• GAS RANGE
• STAINLESS STEEL APPLIANCES
• PANTRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-358 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (25.1% below list).
• Recommended offer: $247k (25.1% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.6% in Rio Rancho — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#17 in NM) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: amenities D, commute F.
• Rio Rancho Public Schools (suburban): math 48% / reading 73% proficiency, ranked #4 of 29 in NM (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jemez Valley Elementary (129 students, 100% FRL); Jemez Valley Middle (62 students, 100% FRL); Jemez Valley High (104 students, 100% FRL) — zoned schools average 100% FRL vs 36% district-wide (64 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.9%/yr); 1325 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,278 units permitted in Sandoval County in 2024 (216 in 5+ unit buildings).
• This rent runs 31% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Sandoval County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $247,205 (25.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.75% ✗
• Cap rate: 4.99%
• Cash-on-cash: -4.64%
• DSCR: 0.79
• GRM: 11.1

CMA / ARV

• ARV (median comp): $362,191
• List price: $330,000
• Delta: -8.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4823 Mount Salas St NE	0.06mi	3/2.0	1,564 (-0%)	8mo	$335,000	$214	90
4814 Mount Salas St NE	0.06mi	4/2.0 (+1)	1,598 (+2%)	0mo	$360,000	$225	89
4847 Longs Peak Rd NE	0.15mi	3/2.0	1,559 (-1%)	4mo	$325,000	$208	88
4827 Sandia Peak Rd NE	0.09mi	4/2.0 (+1)	1,602 (+2%)	2mo	$360,000	$225	85
4842 Mount Salas St NE	0.10mi	4/2.0 (+1)	1,619 (+3%)	7mo	$355,000	$219	79
4860 Blackburn Rd NE	0.22mi	3/2.0	1,653 (+5%)	4mo	$329,000	$199	78
4890 Sandia Peak Rd NE	0.20mi	4/2.0 (+1)	1,602 (+2%)	6mo	$335,000	$209	78
4819 Blackburn Rd NE	0.21mi	3/2.0	1,481 (-6%)	4mo	$344,900	$233	77
4904 Long's Peak Rd NE	0.24mi	3/2.0	1,480 (-6%)	6mo	$335,000	$226	74
6409 Osprey Dr NE	0.36mi	3/2.0	1,681 (+7%)	8mo	$315,000	$187	64
6404 Red Falcon Dr NE	0.74mi	3/2.0	1,491 (-5%)	2mo	$360,000	$241	56
4429 Golden Eagle Loop NE	0.68mi	3/2.0	1,682 (+7%)	12mo	$355,000	$211	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.88% rent growth · sell at horizon

5-year hold

• IRR: -19.9%
• Equity multiple: 0.28×
• Total profit: $-66,170
• Equity at exit: $49,204

10-year hold

• IRR: -6.1%
• Equity multiple: 0.54×
• Total profit: $-42,151
• Equity at exit: $28,532

Cash invested: $92,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State New Mexico: 55 Moderately Landlord-Leaning · D+3
• County: — inherits STATE
• City: — inherits STATE

3-day notice but with cure rights; relocation assistance in some cities.

Methodology + full state rankings →

ZIP-level market 87144

• Home prices YoY: -30.8%
• Rents YoY: 6.9%
• Active inventory: 1325
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,472 medium
• Mortgage (P&I): −$1,731
• Tax est. 1.5%: −$412 /mo · $4,950/yr
• Insurance: −$138
• HOA: −$30
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $-358

Break-even live

Break-even rent $2,925

Max offer price $278,249

Occupancy floor —

Sensitivity live

Price	-10% $-130	-5% $-244	+0% $-358	+5% $-472	+10% $-586
Rent	-10% $-553	-5% $-455	+0% $-358	+5% $-260	+10% $-162
Rate	-1.0pp $-191	-0.5pp $-274	base $-358	+0.5pp $-443	+1.0pp $-530

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4872 Blackburn Rd NE Rio Rancho, NM	4.0	2.5	2078	$2,689	$1.29	3d	1	0.22mi
5714 Quay Dr NE Rio Rancho, NM	3.0	2.5	2047	$2,200	$1.07	4d	1	1.23mi

HOA detail

• Monthly dues: $30 · $360/yr
• Likely covers: gas

Listing history 24 events

1. 2026-06-21
   days on market $330,000 Active 130 DOM
2. 2026-06-18
   days on market $330,000 Active 127 DOM
3. 2026-06-17
   days on market $330,000 Active 126 DOM
4. 2026-06-16
   days on market $330,000 Active 125 DOM
5. 2026-06-15
   days on market $330,000 Active 124 DOM
6. 2026-06-13
   days on market $330,000 Active 122 DOM
7. 2026-06-13
   pricedays on market $330,000 Active 121 DOM
8. 2026-06-10
   days on market $340,000 Active 119 DOM
9. 2026-06-09
   days on market $340,000 Active 118 DOM
10. 2026-06-08
    days on market $340,000 Active 117 DOM
11. 2026-06-07
    days on market $340,000 Active 116 DOM
12. 2026-06-03
    days on market $340,000 Active 112 DOM
13. 2026-06-02
    days on market $340,000 Active 111 DOM
14. 2026-06-01
    days on market $340,000 Active 110 DOM
15. 2026-05-31
    days on market $340,000 Active 109 DOM
16. 2026-05-08
    price $340,000 613-char remark

    Show marketing remark (613 chars)

    Motivated Seller!!! Seller is offering the washer & dryer! Call this HOME!! An affordable home with a shorter commute for those employed in the Santa Fe area. For the outdoor enthusiast, hiking and off-roading are nearby, or a quick get-away for a day trip to the Jemez. Come inside to a sparkling and bright open floor plan. For the chef the kitchen offers an island, quartz silestone countertops, gas range, and stainless steel appliances with a pantry. Enjoy a private primary suite separate from the other bedrooms. BBQ and entertain under the covered patio in our beautiful New Mexico weather.

17. 2026-04-14
    price $345,000 613-char remark

    Show marketing remark (613 chars)

    Motivated Seller!!! Seller is offering the washer & dryer! Call this HOME!! An affordable home with a shorter commute for those employed in the Santa Fe area. For the outdoor enthusiast, hiking and off-roading are nearby, or a quick get-away for a day trip to the Jemez. Come inside to a sparkling and bright open floor plan. For the chef the kitchen offers an island, quartz silestone countertops, gas range, and stainless steel appliances with a pantry. Enjoy a private primary suite separate from the other bedrooms. BBQ and entertain under the covered patio in our beautiful New Mexico weather.

18. 2026-02-08
    listed $350,000 Active 613-char remark

    Show marketing remark (613 chars)

    Motivated Seller!!! Seller is offering the washer & dryer! Call this HOME!! An affordable home with a shorter commute for those employed in the Santa Fe area. For the outdoor enthusiast, hiking and off-roading are nearby, or a quick get-away for a day trip to the Jemez. Come inside to a sparkling and bright open floor plan. For the chef the kitchen offers an island, quartz silestone countertops, gas range, and stainless steel appliances with a pantry. Enjoy a private primary suite separate from the other bedrooms. BBQ and entertain under the covered patio in our beautiful New Mexico weather.

19. 2023-02-23
    status Pending 655-char remark

    Show marketing remark (655 chars)

    ''The Scarlette'' by DR Horton. Stunning home. Open great room and dining area invite's easy entertaining. Lots of contemporary kitchen with grey cabinets and white quartz silestone counter tops, kitchen island, Stainless whirlpool appliances and spacious pantry. Ceramic tile floors throughout home except luxury carpet in bedrooms. Large private primary suite , with raised double vanity, ceramic tiled walk in shower and large walk in closet. Pitched roof with covered patio in front and back of home. . Smart home with Amazon Alexa connect. Energy efficient with Refrigerated air, low- e windows. NO PID! Builder offering Up to $5,000 closing costs.

20. 2023-02-02
    price $324,990 655-char remark

    Show marketing remark (655 chars)

    ''The Scarlette'' by DR Horton. Stunning home. Open great room and dining area invite's easy entertaining. Lots of contemporary kitchen with grey cabinets and white quartz silestone counter tops, kitchen island, Stainless whirlpool appliances and spacious pantry. Ceramic tile floors throughout home except luxury carpet in bedrooms. Large private primary suite , with raised double vanity, ceramic tiled walk in shower and large walk in closet. Pitched roof with covered patio in front and back of home. . Smart home with Amazon Alexa connect. Energy efficient with Refrigerated air, low- e windows. NO PID! Builder offering Up to $5,000 closing costs.

21. 2023-01-07
    price $338,090 655-char remark

    Show marketing remark (655 chars)

    ''The Scarlette'' by DR Horton. Stunning home. Open great room and dining area invite's easy entertaining. Lots of contemporary kitchen with grey cabinets and white quartz silestone counter tops, kitchen island, Stainless whirlpool appliances and spacious pantry. Ceramic tile floors throughout home except luxury carpet in bedrooms. Large private primary suite , with raised double vanity, ceramic tiled walk in shower and large walk in closet. Pitched roof with covered patio in front and back of home. . Smart home with Amazon Alexa connect. Energy efficient with Refrigerated air, low- e windows. NO PID! Builder offering Up to $5,000 closing costs.

22. 2023-01-05
    price $339,090 655-char remark

    Show marketing remark (655 chars)

    ''The Scarlette'' by DR Horton. Stunning home. Open great room and dining area invite's easy entertaining. Lots of contemporary kitchen with grey cabinets and white quartz silestone counter tops, kitchen island, Stainless whirlpool appliances and spacious pantry. Ceramic tile floors throughout home except luxury carpet in bedrooms. Large private primary suite , with raised double vanity, ceramic tiled walk in shower and large walk in closet. Pitched roof with covered patio in front and back of home. . Smart home with Amazon Alexa connect. Energy efficient with Refrigerated air, low- e windows. NO PID! Builder offering Up to $5,000 closing costs.

23. 2023-01-04
    price $338,590 655-char remark

    Show marketing remark (655 chars)

    ''The Scarlette'' by DR Horton. Stunning home. Open great room and dining area invite's easy entertaining. Lots of contemporary kitchen with grey cabinets and white quartz silestone counter tops, kitchen island, Stainless whirlpool appliances and spacious pantry. Ceramic tile floors throughout home except luxury carpet in bedrooms. Large private primary suite , with raised double vanity, ceramic tiled walk in shower and large walk in closet. Pitched roof with covered patio in front and back of home. . Smart home with Amazon Alexa connect. Energy efficient with Refrigerated air, low- e windows. NO PID! Builder offering Up to $5,000 closing costs.

24. 2022-11-11
    listed $337,590 Active 655-char remark

    Show marketing remark (655 chars)

    ''The Scarlette'' by DR Horton. Stunning home. Open great room and dining area invite's easy entertaining. Lots of contemporary kitchen with grey cabinets and white quartz silestone counter tops, kitchen island, Stainless whirlpool appliances and spacious pantry. Ceramic tile floors throughout home except luxury carpet in bedrooms. Large private primary suite , with raised double vanity, ceramic tiled walk in shower and large walk in closet. Pitched roof with covered patio in front and back of home. . Smart home with Amazon Alexa connect. Energy efficient with Refrigerated air, low- e windows. NO PID! Builder offering Up to $5,000 closing costs.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $29,665
• − Mortgage interest: −$18,485
• − Property taxes: −$4,950
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,373
• − Management: −$2,373
• − HOA: −$360
• − Depreciation: −$9,600
• Taxable loss: −$10,127
• Est. tax savings @ 24.0%: +$2,430
• After-tax cash flow: $-1,861/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rio Rancho Public Schools
• NCES district ID: 3500010
• Math proficiency: 48% ▲ 38.00%
• Reading proficiency: 73% ▲ 48.00%
• Median HH income: $59,410
• Composite: 52.29/100
• National rank: #1595
• State rank: #4 of 29 in NM

Livability — Rio Rancho

• Score: 71/100
• State rank: #17
• US rank: #7253

Category grades

Amenities D Commute F Cost of living A Crime C+ Employment B- Housing A+ Health & safety C+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rio Rancho, NM
• County: Sandoval County · 110,336 people
• City population: 110,336
• Metro: Albuquerque, NM
• Population (ZIP): 51,837
• Household income: $94,550
• Rent vs Own: 13.8% rent · 86.2% own
• Severe rent burden: 528.0

Population outlook (Sandoval County) Hauer SSP2

• Today (2025): 155,072 people
• By 2030: 161,714 · +4.3%
• By 2040: 171,831 · +10.8%
• By 2050: 178,536 · +15.1%
• By 2075: 192,517 · +24.1%
• By 2100: 197,952 · +27.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 44% Hispanic / Latino 44% Two or more races 24% Native American 4% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 23% Puerto Rican 1%
• Common ancestry: Slovak 3% Lithuanian 3% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 80% English-only · Spanish 16%

Political lean MEDSL · Sandoval

• 2024 margin: Lean D (+5.8) · D 51.8% · R 46.0% · Other 2.2%
• 2008→2024 swing: -7.0pp toward R · 2008: 12.8pp · 2024: 5.8pp
• All cycles: 2024: D+5.8 2020: D+8.4 2016: D+2.7 2012: D+5.1 2008: D+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.68%
• Current HPI: 215.124
• Rent YoY: ▲ 6.88%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+0.7% since first listed

9 events — show timeline

• 2026-05-08 Price Changed $340,000 Southwest MLS
• 2026-04-14 Price Changed $345,000 Southwest MLS
• 2026-02-08 Listed $350,000 Southwest MLS
• 2023-02-23 Pending — Southwest MLS
• 2023-02-02 Price Changed $324,990 Southwest MLS
• 2023-01-07 Price Changed $338,090 Southwest MLS
• 2023-01-05 Price Changed $339,090 Southwest MLS
• 2023-01-04 Price Changed $338,590 Southwest MLS
• 2022-11-11 Listed $337,590 Southwest MLS