224 Atrisco Vista Blvd SW #712 · Albuquerque, NM 87121

$110,000

3 bd · 2.0 ba · 1,080 sqft · Manufactured · 28 Days on market

Manufactured home Built 2025 Good condition $102/sqft · at area comps Est $113k · at est.

---

Why this score? — see what drove the B- 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).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +8.5/15.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Appreciation +2.5/10.0
• Rent growth +2.0/5.0
• Manufactured-home adj. -5.9

Listing remarks

Welcome home! Beautiful one-year-old, move-in-ready home offering modern comfort and low maintenance living. This well-maintained home features refrigerated air, and an open and inviting layout. Enjoy an exceptional lifestyle with community amenities that include a clubhouse, fitness center, swimming pool, splash pad, picnic areas, park, gated entry, and more. Conveniently located just minutes from major highway access, provides an easy and quick commute. Land lease includes water, sewer, and trash services, with lease payments varying based on water usage. Don't miss this opportunity to own a like-new home in in a vibrant amenity-rich community.

Key facts

• Refrigerated air
• Fitness center
• Clubhouse

Tags

• REFRIGERATED AIR
• OPEN LAYOUT
• CLUBHOUSE
• FITNESS CENTER
• SWIMMING POOL
• SPLASH PAD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.8% in Albuquerque — 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 72/100 on livability (#13 in NM) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Albuquerque Public Schools (urban): math 51% / reading 75% proficiency, ranked #3 of 29 in NM (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Painted Sky Elementary (620 students, 100% FRL); Jimmy Carter Middle (542 students, 100% FRL); Nex Gen Academy (math 70% / reading 90%, grade A, #3 of 110 statewide, top 5%, 237 students, 20% FRL).
• Zoned-school proficiency averages 80% at this address vs 63% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Albuquerque Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.9%/yr); 355 active listings in the ZIP; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.36% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.34%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (median comp): $112,622
• List price: $110,000
• Delta: -2.33%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11104 Whimbrel Ct SW	1.54mi	3/2.0	1,130 (+5%)	3mo	$260,000	$230	55
1212 Mimbres St SW	2.14mi	3/1.5	1,134 (+5%)	3mo	$295,000	$260	52
1820 Tovar Pl SW	2.07mi	3/1.5	1,022 (-5%)	2mo	$175,000	$171	52
10705 Buck Island Rd SW	2.24mi	2/2.0 (-1)	1,032 (-4%)	2mo	$265,000	$257	51
10104 Round Up Pl SW	2.18mi	3/2.0	1,178 (+9%)	2mo	$260,000	$221	48
724 Shire St SW	1.48mi	3/2.0	1,398 (+29%)	0mo	$295,000	$211	40
10624 Andalusian Ave SW	1.71mi	3/2.0	1,354 (+25%)	1mo	$278,000	$205	39
1325 Elfego Baca Dr SW	1.66mi	3/2.0	1,360 (+26%)	2mo	$326,000	$240	39
10304 Heron Rd SW	1.96mi	3/2.0	1,236 (+14%)	3mo	$268,500	$217	38
615 Parnelli Dr SW	1.96mi	3/2.0	1,340 (+24%)	3mo	$258,000	$193	37
516 Foyt Dr SW	2.12mi	3/2.0	1,360 (+26%)	4mo	$299,000	$220	37
704 Sandpiper Dr SW	2.00mi	2/1.0 (-1)	950 (-12%)	3mo	$275,000	$289	34

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.15×
• Total profit: $4,530
• Equity at exit: $16,401

10-year hold

• IRR: 10.4%
• Equity multiple: 1.70×
• Total profit: $21,516
• Equity at exit: $9,511

Cash invested: $30,800 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $80,000 ($66/sqft)
• Median days on market: 135 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +58.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 87121

• Home prices YoY: -19.4%
• Rents YoY: -1.9%
• Active inventory: 355
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,493 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $419

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 67%

Sensitivity live

Price	-10% $495	-5% $457	+0% $419	+5% $381	+10% $343
Rent	-10% $301	-5% $360	+0% $419	+5% $478	+10% $537
Rate	-1.0pp $475	-0.5pp $447	base $419	+0.5pp $391	+1.0pp $362

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: $27,500
• Closing costs: $3,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-07-18
   days on market $110,000 Active 28 DOM
2. 2026-07-16
   days on market $110,000 Active 27 DOM
3. 2026-07-15
   days on market $110,000 Active 26 DOM
4. 2026-07-14
   days on market $110,000 Active 25 DOM
5. 2026-07-13
   days on market $110,000 Active 24 DOM
6. 2026-07-13
   days on market $110,000 Active 23 DOM
7. 2026-07-11
   days on market $110,000 Active 22 DOM
8. 2026-07-10
   days on market $110,000 Active 21 DOM
9. 2026-07-09
   days on market $110,000 Active 20 DOM
10. 2026-07-07
    days on market $110,000 Active 18 DOM
11. 2026-07-06
    days on market $110,000 Active 17 DOM
12. 2026-07-05
    days on market $110,000 Active 16 DOM
13. 2026-07-03
    days on market $110,000 Active 14 DOM
14. 2026-07-02
    days on market $110,000 Active 13 DOM
15. 2026-07-01
    days on market $110,000 Active 12 DOM
16. 2026-06-30
    days on market $110,000 Active 11 DOM
17. 2026-06-29
    days on market $110,000 Active 10 DOM
18. 2026-06-28
    days on market $110,000 Active 9 DOM
19. 2026-06-27
    days on market $110,000 Active 8 DOM
20. 2026-06-27
    days on market $110,000 Active 7 DOM
21. 2026-06-25
    days on market $110,000 Active 5 DOM
22. 2026-06-22
    days on market $110,000 Active 3 DOM
23. 2026-06-22
    remarks 654-char remark
24. 2026-06-22
    listed $110,000 Active 2 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 2 d/yr ≥95°F today · 5 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,917
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$3,200
• Taxable income: $3,488
• Est. tax owed @ 24.0%: −$837
• After-tax cash flow: $4,195/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.

Condition & rehab AI · 13 photos

Good 80/100 None rehab

This move-in-ready manufactured home is in excellent condition with modern finishes and low maintenance living. It offers a great opportunity for investors looking for a turnkey property in a vibrant community with ample amenities.

Value-add opportunities

• Both landscaping — improves curb appeal and enhances the home's value ↑
• Both furniture — adds comfort and functionality ↑
• Both decor — enhances the home's aesthetic and appeal ↑

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Painted Sky Elementary Middle Jimmy Carter Middle High West Mesa High F NM #61/110 Nat'l #8,169/17,239

Schools (NCES district)

• District: Albuquerque Public Schools
• NCES district ID: 3500060
• Math proficiency: 51% ▲ 30.00%
• Reading proficiency: 75% ▲ 45.00%
• Median HH income: $48,151
• Composite: 53.29/100
• National rank: #1487
• State rank: #3 of 29 in NM

B Composite livability gradescore 72/100

Livability — Albuquerque

• Score: 72/100
• State rank: #13
• US rank: #6219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bernalillo County · 704,528 people
• City population: 647,165
• Metro: Albuquerque, NM
• Population (ZIP): 75,510
• Household income: $60,796
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 14% of renters

---

Population outlook (Bernalillo County) Hauer SSP2

• Today (2025): 704,528 people
• By 2030: 711,723 · +1.0%
• By 2040: 714,522 · +1.4%
• By 2050: 709,274 · +0.7%
• By 2075: 680,015 · -3.5%
• By 2100: 619,879 · -12.0%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 32% White 9% Native American 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 53% English-only · Spanish 44% Tagalog/Filipino 1%

---

Political lean MEDSL · Bernalillo

• 2024 margin: Strong D (+21.0) · D 59.2% · R 38.2% · Other 2.6%
• 2008→2024 swing: -0.3pp no change · 2008: 21.4pp · 2024: 21.0pp
• All cycles: 2024: D+21.0 2020: D+24.4 2016: D+17.8 2012: D+16.2 2008: D+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.80%
• Current HPI: 261.8123
• Rent YoY: ▼ -1.86%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0