7118 Remington Dr NE · Albuquerque, NM 87109

$95,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured · 150 Days on market

Built 1986 $82/sqft · 39% below area Est $154k · 39% under ↓ 17% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

North Hills 55+ Gated Community - Updated, move-in ready home with large windows facing the Sandia Mountains. All appliances included. $656/monthly includes recreation center, swimming pool, tennis court and club house. Land lease, Buyer to verify all costs.

Key facts

• Gated community
• Large windows
• Sandia mountains

Tags

• GATED COMMUNITY
• LARGE WINDOWS
• SANDIA MOUNTAINS
• RECREATION CENTER
• SWIMMING POOL
• TENNIS COURT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $861 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.2% vs local median 3.7% 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: schools D-, 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.
• Market conditions: Rents soft (-1.0%/yr); 148 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• This rent runs 39% of the median local income ($59k/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 $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.02% ✓
• Cap rate: 17.17%
• Cash-on-cash: 38.83%
• DSCR: 2.73
• GRM: 4.1

CMA / ARV

• ARV (median comp): $154,500
• List price: $95,000
• Delta: -38.51%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7225 Remington Dr NE	0.08mi	3/2.0 (+1)	1,236 (+7%)	3mo	$89,000	$72	76
6516 Pino Ave NE	0.49mi	3/2.0 (+1)	1,237 (+7%)	4mo	$219,900	$178	56
6835 Jade Park Ave NE	0.35mi	2/2.0	1,230 (+7%)	21mo	$229,900	$187	55
7109 Springfield Dr NE	0.06mi	2/2.0	987 (-14%)	23mo	$69,800	$71	54

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: 31.6%
• Equity multiple: 2.27×
• Total profit: $33,832
• Equity at exit: $14,165

10-year hold

• IRR: 37.0%
• Equity multiple: 3.95×
• Total profit: $78,422
• Equity at exit: $8,214

Cash invested: $26,600 (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 87109

• Rents YoY: -1.0%
• Active inventory: 148
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,921 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $861

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 50%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6441 Palomas Ave NE Albuquerque, NM	1.0	1.0–1.5	758	$2,088	$2.75	3d	2	0.48mi
7100 Louisiana Blvd NE Albuquerque, NM	1.0–2.0	1.0–2.0	763	$1,790	$2.35	3d	15	0.61mi
6501 San Antonio Dr NE Albuquerque, NM	2.0	2.0–2.5	1075	$1,875	$1.74	14d	2	0.71mi
6401 Santa Monica Ave NE Albuquerque, NM	1.0–2.0	1.0–2.0	1068	$2,151	$2.01	3d	26	0.74mi
8129 Shannon St NE Albuquerque, NM	3.0	2.0	1500	$2,100	$1.40	3d	1	0.75mi
7000 Louisiana Blvd NE Albuquerque, NM	1.0–2.0	1.0–2.0	840	$1,709	$2.03	3d	25	0.80mi
8300 Wyoming Blvd NE Albuquerque, NM	1.0–3.0	1.0–2.0	1095	$1,822	$1.66	2d	18	0.80mi
6925 Alameda Blvd NE Albuquerque, NM	2.0	1.0–2.0	942	$2,244	$2.38	2d	19	1.08mi
6301 Alameda Blvd NE Albuquerque, NM	3.0	1.0–2.5	903	$2,072	$2.29	2d	23	1.10mi
8100 Barstow St NE Albuquerque, NM	1.0–3.0	1.0–2.0	1097	$1,926	$1.76	3d	26	1.15mi
7800 Headline Blvd NE Albuquerque, NM	2.0	1.0–2.0	961	$2,343	$2.44	3d	16	1.21mi
8712 Plymouth Rock Rd NE Albuquerque, NM	3.0	2.0	1350	$2,409	$1.78	44d	1	1.27mi
6700 Modesto Ave NE Albuquerque, NM	2.0	1.0–2.0	832	$2,422	$2.91	2d	14	1.28mi
8901 Holly Ave NE Albuquerque, NM	1.0–2.0	1.0–2.0	822	$2,208	$2.68	2d	8	1.45mi
7501 Jefferson St NE Albuquerque, NM	2.0	1.0–2.0	887	$2,291	$2.58	3d	38	1.49mi

Listing history 13 events

1. 2026-06-09
   days on market $95,000 Active 150 DOM
2. 2026-06-08
   days on market $95,000 Active 149 DOM
3. 2026-06-07
   days on market $95,000 Active 148 DOM
4. 2026-06-05
   days on market $95,000 Active 145 DOM
5. 2026-06-03
   days on market $95,000 Active 144 DOM
6. 2026-06-02
   days on market $95,000 Active 143 DOM
7. 2026-06-01
   days on market $95,000 Active 142 DOM
8. 2026-05-31
   days on market $95,000 Active 141 DOM
9. 2026-05-13
   price $95,000 258-char remark

   Show marketing remark (258 chars)

   North Hills 55+ Gated Community - Updated, move-in ready home with large windows facing the Sandia Mountains. All appliances included. $656/monthly includes recreation center, swimming pool, tennis court and club house. Land lease, Buyer to verify all costs.

10. 2026-05-11
    price $98,000 258-char remark

    Show marketing remark (258 chars)

    North Hills 55+ Gated Community - Updated, move-in ready home with large windows facing the Sandia Mountains. All appliances included. $656/monthly includes recreation center, swimming pool, tennis court and club house. Land lease, Buyer to verify all costs.

11. 2026-03-02
    price $99,000 258-char remark

    Show marketing remark (258 chars)

    North Hills 55+ Gated Community - Updated, move-in ready home with large windows facing the Sandia Mountains. All appliances included. $656/monthly includes recreation center, swimming pool, tennis court and club house. Land lease, Buyer to verify all costs.

12. 2026-02-09
    price $102,000 258-char remark

    Show marketing remark (258 chars)

    North Hills 55+ Gated Community - Updated, move-in ready home with large windows facing the Sandia Mountains. All appliances included. $656/monthly includes recreation center, swimming pool, tennis court and club house. Land lease, Buyer to verify all costs.

13. 2026-01-06
    listed $115,000 Active 258-char remark

    Show marketing remark (258 chars)

    North Hills 55+ Gated Community - Updated, move-in ready home with large windows facing the Sandia Mountains. All appliances included. $656/monthly includes recreation center, swimming pool, tennis court and club house. Land lease, Buyer to verify all costs.

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 4 d/yr ≥95°F today · 11 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,048
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − Depreciation: −$2,764
• Taxable income: $9,375
• Est. tax owed @ 24.0%: −$2,250
• After-tax cash flow: $8,080/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: 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

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

• Census place: Albuquerque, NM
• County: Bernalillo County · 647,165 people
• City population: 647,165
• Metro: Albuquerque, NM
• Population (ZIP): 39,324
• Household income: $58,900
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 2187.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 36% Two or more races 17% Native American 9% Black 3% Asian 3%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 2% Slovak 2% Portuguese 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 84% English-only · Spanish 11% Other Indo-European 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: ▼ -303.11%
• Current HPI: 250.5034
• Rent YoY: ▼ -0.97%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-17.4% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $95,000 Southwest MLS
• 2026-05-11 Price Changed $98,000 Southwest MLS
• 2026-03-02 Price Changed $99,000 Southwest MLS
• 2026-02-09 Price Changed $102,000 Southwest MLS
• 2026-01-06 Listed $115,000 Southwest MLS