813 Ram Trail Trl SE

Albuquerque, NM 87123

$58,000B

2 bd · 2.0 ba · 1,115 sqft · Built 1990 · Manufactured · Active · 283 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,070/mo
• Mortgage (P&I): −$304
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $445/mo
• Annual: $5,338/yr
• Cap rate: 15.50%
• Cash-on-cash: 32.87%
• DSCR: 2.46
• 1% rule: 1.85%
• Cash to close: $16,240

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $58k. Condition is rated average.
• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• It's been on market 283 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $401 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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: Manzano Mesa Elementary (540 students, 100% FRL); Van Buren Middle (398 students, 100% FRL); Highland High (math 30% / reading 70%, grade D+, #36 of 110 statewide, top 45%, 1,152 students, 100% FRL) — zoned schools average 100% FRL vs 60% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 50% at this address vs 63% district-wide (-13 pts) — the specific schools serving this property underperform the Albuquerque Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.1%/yr); 290 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 42d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.5% 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.

Questions for listing agent

• It's been on market 283 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: exterior paint — Light wear
• Minor: interior paint — Worn appearance