1023 Fruit Ave NW · Albuquerque, NM 87102

$556,600

25 bd · 25.0 ba · 2,758 sqft · MultiFamily public records · 89 Days on market

Built 1941 5,662 sqft lot $202/sqft · 16% below area Est $660k · 16% under

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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 +25.3/30.0
• ARV discount +14.5/15.0
• DSCR +8.4/10.0
• 1% rule +5.4/10.0
• Schools +5.3/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Prime Investment Opportunity! Invest in your future with this 5 unit residential income property in a High Demand area. Located at the corner of Fruit Ave and 11th St. 5 1 bedroom units. Enjoy close proximity to schools, local parks, popular shopping areas and convenient public transportation routes. A short walk to Lowe's market on Lomas. Strong rental history and potential for increased income due to high demand in the area. This is a rare opportunity for investors.

Key facts

• High demand area
• Short walk to market
• Local parks

Tags

• HIGH DEMAND AREA
• CLOSE PROXIMITY TO SCHOOLS
• LOCAL PARKS
• POPULAR SHOPPING AREAS
• SHORT WALK TO MARKET
• STRONG RENTAL HISTORY

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/1-bath units multifamily listed at $557k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $254/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $557k).
• Recommended offer: $523k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 rising fast (+4.9%/yr); 143 active listings in the ZIP; lower-income renter base — watch delinquency; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• At $5,816/mo this rent would consume 162% of the median local household income ($43k/yr) (locally 1721% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $156k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($523k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $523,203 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.78%
• DSCR: 1.44
• GRM: 8.0

CMA / ARV

• ARV (median comp): $659,715
• List price: $556,600
• Delta: -15.63%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.92% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $1,896
• Equity at exit: $82,991

10-year hold

• IRR: 11.6%
• Equity multiple: 1.99×
• Total profit: $153,709
• Equity at exit: $48,125

Cash invested: $155,848 (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 87102

• Rents YoY: 4.9%
• Active inventory: 143
• Price-to-rent: 39.9×

Monthly cashflow live

• Estimated rent: $5,816 high
• Mortgage (P&I): −$2,919
• Tax from tax record: −$174 /mo · $2,089/yr
• Insurance: −$232
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,221
• Net cashflow: $1,270

Break-even live

Break-even rent $4,209

Max offer price $556,600

Occupancy floor 73%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$5,815
Total (5 units)			$5,816

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: $139,150
• Closing costs: $16,698
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-05
   statusdays on market $556,600 Pending 89 DOM
2. 2026-06-03
   days on market $556,600 Active 88 DOM
3. 2026-06-02
   days on market $556,600 Active 87 DOM
4. 2026-06-01
   days on market $556,600 Active 86 DOM
5. 2026-05-31
   days on market $556,600 Active 85 DOM
6. 2026-04-11
   status Active 472-char remark

   Show marketing remark (472 chars)

   Prime Investment Opportunity! Invest in your future with this 5 unit residential income property in a High Demand area. Located at the corner of Fruit Ave and 11th St. 5 1 bedroom units. Enjoy close proximity to schools, local parks, popular shopping areas and convenient public transportation routes. A short walk to Lowe's market on Lomas. Strong rental history and potential for increased income due to high demand in the area. This is a rare opportunity for investors.

7. 2026-01-08
   status Pending 472-char remark

   Show marketing remark (472 chars)

   Prime Investment Opportunity! Invest in your future with this 5 unit residential income property in a High Demand area. Located at the corner of Fruit Ave and 11th St. 5 1 bedroom units. Enjoy close proximity to schools, local parks, popular shopping areas and convenient public transportation routes. A short walk to Lowe's market on Lomas. Strong rental history and potential for increased income due to high demand in the area. This is a rare opportunity for investors.

8. 2025-12-22
   status Active 472-char remark

   Show marketing remark (472 chars)

   Prime Investment Opportunity! Invest in your future with this 5 unit residential income property in a High Demand area. Located at the corner of Fruit Ave and 11th St. 5 1 bedroom units. Enjoy close proximity to schools, local parks, popular shopping areas and convenient public transportation routes. A short walk to Lowe's market on Lomas. Strong rental history and potential for increased income due to high demand in the area. This is a rare opportunity for investors.

9. 2025-10-13
   status Pending 472-char remark

   Show marketing remark (472 chars)

   Prime Investment Opportunity! Invest in your future with this 5 unit residential income property in a High Demand area. Located at the corner of Fruit Ave and 11th St. 5 1 bedroom units. Enjoy close proximity to schools, local parks, popular shopping areas and convenient public transportation routes. A short walk to Lowe's market on Lomas. Strong rental history and potential for increased income due to high demand in the area. This is a rare opportunity for investors.

10. 2025-09-26
    status Active 472-char remark

    Show marketing remark (472 chars)

    Prime Investment Opportunity! Invest in your future with this 5 unit residential income property in a High Demand area. Located at the corner of Fruit Ave and 11th St. 5 1 bedroom units. Enjoy close proximity to schools, local parks, popular shopping areas and convenient public transportation routes. A short walk to Lowe's market on Lomas. Strong rental history and potential for increased income due to high demand in the area. This is a rare opportunity for investors.

11. 2025-09-20
    status Pending 472-char remark

    Show marketing remark (472 chars)

    Prime Investment Opportunity! Invest in your future with this 5 unit residential income property in a High Demand area. Located at the corner of Fruit Ave and 11th St. 5 1 bedroom units. Enjoy close proximity to schools, local parks, popular shopping areas and convenient public transportation routes. A short walk to Lowe's market on Lomas. Strong rental history and potential for increased income due to high demand in the area. This is a rare opportunity for investors.

12. 2025-09-07
    listed $556,600 Active 472-char remark

    Show marketing remark (472 chars)

    Prime Investment Opportunity! Invest in your future with this 5 unit residential income property in a High Demand area. Located at the corner of Fruit Ave and 11th St. 5 1 bedroom units. Enjoy close proximity to schools, local parks, popular shopping areas and convenient public transportation routes. A short walk to Lowe's market on Lomas. Strong rental history and potential for increased income due to high demand in the area. This is a rare opportunity for investors.

ⓘ 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: $2,089 · $174/mo
• Projected year-2 tax: $4,453 · $371/mo
• Expected delta: +$2,364/yr (+$197/mo · 113.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,792
• − Mortgage interest: −$31,178
• − Property taxes: −$2,089
• − Insurance: −$2,783
• − Repairs & maintenance: −$5,583
• − Management: −$5,583
• − Depreciation: −$16,192
• Taxable income: $6,383
• Est. tax owed @ 24.0%: −$1,532
• After-tax cash flow: $13,705/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): 20,123
• Household income: $42,990
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 1721.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 57% Two or more races 30% White 29% Native American 6% Black 4%
• Hispanic origin (detail): Mexican 35% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Slovak 1% Serbian 1%
• Foreign-born: 12% · Canada
• Languages at home: 64% English-only · Spanish 30% Korean 1% 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: ▼ -208.71%
• Current HPI: 253.8398
• Rent YoY: ▲ 4.92%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

7 events — show timeline

• 2026-04-11 Relisted — Southwest MLS
• 2026-01-08 Pending — Southwest MLS
• 2025-12-22 Relisted — Southwest MLS
• 2025-10-13 Pending — Southwest MLS
• 2025-09-26 Relisted — Southwest MLS
• 2025-09-20 Pending — Southwest MLS
• 2025-09-07 Listed $556,600 Southwest MLS

Property tax history

+1.1%/yr

Latest (2025): $2,089 · +3.1% YoY. Source: county tax records.