823 Country Club Dr SE Apt 2E · Rio Rancho, NM 87124

$158,000

1 bd · 1.0 ba · 885 sqft · SingleFamily public records · 84 Days on market

Built 1987 $179/sqft · 16% below area Est $187k · 16% under $171/mo HOA · 12% of rent

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Why this score? — see what drove the C- 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 +14.5/15.0
• Cash flow +13.6/30.0
• Schools +5.2/10.0
• 1% rule +4.1/10.0
• DSCR +4.1/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 1-bedroom, 1-bath condo is move-in ready and designed for comfortable living. Brand new carpet, updated appliances, and a generously sized kitchen create a warm and inviting atmosphere. The bathroom has been thoughtfully renovated, offering a modern touch. Enjoy your own private balcony; perfect for morning coffee or relaxing outdoors. Residents also have access to a community pool, ideal for cooling off during the warmer months. Schedule your showing today!

Key facts

• $171 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $158k.

Deal economics

• At list price, monthly cash flow is $9 ($111/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (9.0% below list).
• Recommended offer: $144k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Martin King Jr Elementary (628 students, 16% FRL); Lincoln Middle (823 students, 21% FRL); Rio Rancho High (math 52% / reading 77%, grade B-, #22 of 110 statewide, top 22%, 2,573 students, 22% FRL) — zoned schools average 20% FRL vs 36% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.1%/yr); 837 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,278 units permitted in Sandoval County in 2024 (216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 84 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $143,844 (9.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.25%
• DSCR: 1.01
• GRM: 9.2

CMA / ARV

• ARV (median comp): $187,000
• List price: $158,000
• Delta: -15.51%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.13% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.44×
• Total profit: $-24,782
• Equity at exit: $23,558

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-19,870
• Equity at exit: $13,661

Cash invested: $44,240 (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 87124

• Rents YoY: 3.1%
• Active inventory: 837
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,438 high
• Mortgage (P&I): −$829
• Tax from tax record: −$62 /mo · $741/yr
• Insurance: −$66
• HOA: −$171
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $9

Break-even live

Break-even rent $1,427

Max offer price $158,000

Occupancy floor 94%

Sensitivity live

Price	-10% $99	-5% $54	+0% $9	+5% $-35	+10% $-80
Rent	-10% $-104	-5% $-48	+0% $9	+5% $66	+10% $123
Rate	-1.0pp $89	-0.5pp $49	base $9	+0.5pp $-32	+1.0pp $-73

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: $39,500
• Closing costs: $4,740
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
925 Country Club Dr SE Rio Rancho, NM	2.0	2.0	1045	$1,600	$1.53	4d	1	0.16mi
937 Country Club Dr SE Unit J Rio Rancho, NM	2.0	1.5	1100	$1,300	$1.18	46d	1	0.21mi
900 Country Club Dr SE Rio Rancho, NM	1.0–2.0	1.0–2.0	730	$1,284	$1.76	3d	12	0.27mi
201 Pinnacle Dr SE Rio Rancho, NM	1.0–3.0	1.0–2.0	1095	$1,325	$1.21	3d	26	0.65mi
4101 Meadowlark Ln SE Rio Rancho, NM	1.0–2.0	1.0–2.0	703	$1,280	$1.82	4d	12	1.28mi
4248 Sabana Loop SE Rio Rancho, NM	2.0	2.0	800	$1,500	$1.88	46d	1	1.32mi
4201 Meadowlark Ln SE Rio Rancho, NM	1.0	1.0	675	$1,530	$2.27	4d	1	1.33mi
1011 Meadowlark Ct SE Apt 2 Rio Rancho, NM	2.0	1.0	820	$1,250	$1.52	4d	1	1.39mi
1071 Meadowlark Ct SE Rio Rancho, NM	2.0	1.0	950	$1,500	$1.58	4d	1	1.40mi
305 Geraldine Rd SE Unit A Rio Rancho, NM	2.0	1.0	912	$1,300	$1.43	25d	1	1.46mi

HOA detail

• Monthly dues: $171 · $2,052/yr
• Likely covers: pool

Listing history 22 events

1. 2026-06-21
   days on market $158,000 Active 84 DOM
2. 2026-06-18
   days on market $158,000 Active 81 DOM
3. 2026-06-17
   days on market $158,000 Active 80 DOM
4. 2026-06-16
   days on market $158,000 Active 79 DOM
5. 2026-06-15
   days on market $158,000 Active 78 DOM
6. 2026-06-13
   days on market $158,000 Active 76 DOM
7. 2026-06-13
   days on market $158,000 Active 75 DOM
8. 2026-06-10
   days on market $158,000 Active 73 DOM
9. 2026-06-09
   days on market $158,000 Active 72 DOM
10. 2026-06-08
    days on market $158,000 Active 71 DOM
11. 2026-06-07
    days on market $158,000 Active 70 DOM
12. 2026-06-03
    days on market $158,000 Active 66 DOM
13. 2026-06-02
    days on market $158,000 Active 65 DOM
14. 2026-06-01
    days on market $158,000 Active 64 DOM
15. 2026-05-31
    days on market $158,000 Active 63 DOM
16. 2026-04-09
    status Active 476-char remark

    Show marketing remark (476 chars)

    This charming 1-bedroom, 1-bath condo is move-in ready and designed for comfortable living. Brand new carpet, updated appliances, and a generously sized kitchen create a warm and inviting atmosphere. The bathroom has been thoughtfully renovated, offering a modern touch. Enjoy your own private balcony; perfect for morning coffee or relaxing outdoors. Residents also have access to a community pool, ideal for cooling off during the warmer months. Schedule your showing today!

17. 2026-04-02
    status Pending 476-char remark

    Show marketing remark (476 chars)

    This charming 1-bedroom, 1-bath condo is move-in ready and designed for comfortable living. Brand new carpet, updated appliances, and a generously sized kitchen create a warm and inviting atmosphere. The bathroom has been thoughtfully renovated, offering a modern touch. Enjoy your own private balcony; perfect for morning coffee or relaxing outdoors. Residents also have access to a community pool, ideal for cooling off during the warmer months. Schedule your showing today!

18. 2026-03-26
    status Active 476-char remark

    Show marketing remark (476 chars)

    This charming 1-bedroom, 1-bath condo is move-in ready and designed for comfortable living. Brand new carpet, updated appliances, and a generously sized kitchen create a warm and inviting atmosphere. The bathroom has been thoughtfully renovated, offering a modern touch. Enjoy your own private balcony; perfect for morning coffee or relaxing outdoors. Residents also have access to a community pool, ideal for cooling off during the warmer months. Schedule your showing today!

19. 2026-03-18
    status Pending 476-char remark

    Show marketing remark (476 chars)

    This charming 1-bedroom, 1-bath condo is move-in ready and designed for comfortable living. Brand new carpet, updated appliances, and a generously sized kitchen create a warm and inviting atmosphere. The bathroom has been thoughtfully renovated, offering a modern touch. Enjoy your own private balcony; perfect for morning coffee or relaxing outdoors. Residents also have access to a community pool, ideal for cooling off during the warmer months. Schedule your showing today!

20. 2026-03-13
    listed $159,000 Active 476-char remark

    Show marketing remark (476 chars)

    This charming 1-bedroom, 1-bath condo is move-in ready and designed for comfortable living. Brand new carpet, updated appliances, and a generously sized kitchen create a warm and inviting atmosphere. The bathroom has been thoughtfully renovated, offering a modern touch. Enjoy your own private balcony; perfect for morning coffee or relaxing outdoors. Residents also have access to a community pool, ideal for cooling off during the warmer months. Schedule your showing today!

21. 2014-09-09
    soldstatus
22. 2014-02-26
    soldstatus

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

Tax reassessment forecast NM · Resets to sale price

• Current annual tax: $741 · $62/mo
• Projected year-2 tax: $1,264 · $105/mo
• Expected delta: +$523/yr (+$44/mo · 70.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,261
• − Mortgage interest: −$8,850
• − Property taxes: −$741
• − Insurance: −$790
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − HOA: −$2,052
• − Depreciation: −$4,596
• Taxable loss: −$2,530
• Est. tax savings @ 24.0%: +$607
• After-tax cash flow: $718/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): 58,499
• Household income: $86,555
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 1027.0

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 47% Hispanic / Latino 41% Two or more races 18% Native American 5% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 24% Puerto Rican 2%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 12% Vietnamese 1%

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: ▼ -303.50%
• Current HPI: 219.8377
• Rent YoY: ▲ 3.13%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

7 events — show timeline

• 2026-04-09 Relisted — Southwest MLS
• 2026-04-02 Pending — Southwest MLS
• 2026-03-26 Relisted — Southwest MLS
• 2026-03-18 Pending — Southwest MLS
• 2026-03-13 Listed $159,000 Southwest MLS
• 2014-09-09 Sold (Public Records) — Public Records
• 2014-02-26 Sold (Public Records) — Public Records

Property tax history

-2.3%/yr

Latest (2024): $741 · +2.6% YoY. Source: county tax records.