302 Thaxton Ave SE · Albuquerque, NM 87102

$135,000

2 bd · 1.0 ba · 918 sqft · SingleFamily public records · 3 Days on market

Built 1948 9,583 sqft lot Est $210k · 36% under

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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).

• Cash flow +17.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• Schools +5.3/10.0
• 1% rule +4.6/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this charming 945 sq. ft. adobe home situated on two city lots, offering plenty of space and potential for improvement, expansion, or future development. This classic adobe property is full of character and ready for a new owner to bring their vision to life. Will consider seller financing with strong down payment. Home is being sold as is where is based on buyer's own inspection.

Key facts

• 9,583 sq ft lot
• Built 1948
• Listed 3 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story; Faces north; Resale property
• Construction: Adobe construction; Flat roof; Built according to public records
• Exterior features: Back yard fencing; Corner lot; City street frontage; Paved road

Interior

• Flooring: Concrete
• Bathrooms: 1 full bathroom
• Interior features: Wood window frames; Concrete floors

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/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 $129k (4.2% below list).
• Recommended offer: $129k (4.2% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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 rising fast (+4.9%/yr); 143 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• This rent runs 36% of the median local income ($43k/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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $129,267 (4.2% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.96% ✗
• Cap rate: 7.21%
• Cash-on-cash: 3.26%
• DSCR: 1.14
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $210,222
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 Bethel Ave SE	0.59mi	2/1.0	925 (+1%)	5mo	$162,500	$176	67
307 Wheeler Ave SE	0.35mi	3/1.0 (+1)	971 (+6%)	3mo	$245,000	$252	66
2428 William St SE	0.32mi	2/1.0	809 (-12%)	2mo	$185,000	$229	64
2014 William St SE	0.07mi	3/1.0 (+1)	990 (+8%)	20mo	$225,000	$227	62
224 Kathryn Ave SE	0.27mi	3/1.0 (+1)	1,008 (+10%)	6mo	$229,000	$227	61
2840 John St SE	0.68mi	2/2.0	895 (-2%)	8mo	$234,990	$263	53
1609 Edith Blvd SE	0.48mi	3/1.5 (+1)	1,020 (+11%)	2mo	$235,000	$230	51

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 · 4.92% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.66×
• Total profit: $-12,782
• Equity at exit: $20,129

10-year hold

• IRR: 2.8%
• Equity multiple: 1.22×
• Total profit: $8,193
• Equity at exit: $11,672

Cash invested: $37,800 (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 →

ZIP-level market 87102

• Rents YoY: 4.9%
• Active inventory: 143
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,293 high
• Mortgage (P&I): −$708
• Tax from tax record: −$154 /mo · $1,852/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $103

Break-even live

Break-even rent $1,163

Max offer price $135,000

Occupancy floor 87%

Sensitivity live

Price	-10% $179	-5% $141	+0% $103	+5% $64	+10% $26
Rent	-10% $1	-5% $52	+0% $103	+5% $154	+10% $205
Rate	-1.0pp $171	-0.5pp $137	base $103	+0.5pp $68	+1.0pp $32

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1916 Edith Blvd SE Unit B Albuquerque, NM	1.0	1.0	585	$975	$1.67	15d	1	0.32mi
240 Wheeler Ave SE Unit B Albuquerque, NM	1.0	1.0	550	$799	$1.45	44d	1	0.40mi
815 John St SE Albuquerque, NM	2.0	1.0	930	$1,600	$1.72	44d	1	0.89mi
915 Walter St SE Unit C Albuquerque, NM	1.0	1.0	560	$950	$1.70	4d	1	0.89mi
207 Barelas Rd SW Unit B-F Albuquerque, NM	1.0	1.0	550	$1,600	$2.91	24d	1	0.92mi
1207 Barelas Rd SW Unit B-Furnished Albuquerque, NM	1.0	1.0	550	$1,600	$2.91	44d	1	0.93mi
1207 Barelas Rd SW Unit A-F Albuquerque, NM	1.0	1.0	550	$1,600	$2.91	24d	1	0.93mi
1207 Barelas Rd SW Unit Cf Albuquerque, NM	1.0	1.0	550	$1,700	$3.09	44d	1	0.93mi
1207 Barelas Rd SW Unit B Albuquerque, NM	1.0	1.0	550	$1,200	$2.18	24d	1	0.93mi
1207 Barelas Rd SW Unit A Albuquerque, NM	1.0	1.0	550	$1,200	$2.18	24d	1	0.93mi
1207 Barelas Rd SW Unit C Albuquerque, NM	1.0	1.0	550	$1,200	$2.18	44d	1	0.93mi
1207 Barelas Rd SW Unit A Albuquerque, NM	1.0	1.0	550	$1,200	$2.18	44d	1	0.93mi
1203 Barelas St SW Albuquerque, NM	1.0	1.0	550	$1,300	$2.36	44d	1	0.95mi
1203 Barelas Rd SW Unit Bf Albuquerque, NM	1.0	1.0	550	$1,700	$3.09	44d	1	0.95mi
1203 Barelas Rd SW Unit C-f Albuquerque, NM	1.0	1.0	550	$1,600	$2.91	44d	1	0.95mi
1203 Barelas Rd SW Unit A Albuquerque, NM	1.0	1.0	600	$1,200	$2.00	44d	1	0.95mi
1203 Barelas Rd SW Unit A-f Albuquerque, NM	1.0	1.0	600	$1,600	$2.67	44d	1	0.95mi
1203 Barelas Rd SW Unit C Albuquerque, NM	1.0	1.0	550	$1,200	$2.18	44d	1	0.95mi
702 Broadway Blvd SE #8 Albuquerque, NM	2.0	1.5	1071	$1,825	$1.70	3d	1	1.01mi
3003 Transport St SE Albuquerque, NM	5.0	1.0–5.0	1083	$1,419	$1.31	44d	4	1.05mi
621 High St SE Unit C Albuquerque, NM	1.0	1.0	716	$1,650	$2.30	4d	1	1.12mi
525 Cedar St SE Unit A Albuquerque, NM	1.0	1.0	800	$895	$1.12	24d	1	1.29mi
1409 Hazeldine Ave SE Unit 1407 Albuquerque, NM	1.0	1.0	770	$1,250	$1.62	44d	1	1.37mi
343 Platinum St SW Unit B Albuquerque, NM	1.0	1.5	1033	$1,800	$1.74	44d	1	1.37mi
1832 Buena Vista Dr SE Unit A Albuquerque, NM	2.0	1.0	800	$1,000	$1.25	24d	1	1.37mi
1918 Buena Vista Dr SE Unit B Albuquerque, NM	2.0	1.0	1000	$1,300	$1.30	44d	1	1.37mi
1212 Lead Ave SE Unit 1212 Lead SE_Unit B Albuquerque, NM	1.0	1.0	800	$1,250	$1.56	19d	1	1.42mi
1202 Lead Ave SE Albuquerque, NM	1.0	1.0	800	$1,200	$1.50	4d	1	1.42mi
816 Coal Ave SW Albuquerque, NM	1.0–2.0	1.0	745	$1,450	$1.95	4d	2	1.43mi
816 Coal Ave SW Unit 2 Albuquerque, NM	1.0	1.0	650	$995	$1.53	44d	1	1.43mi
200 Walter St SE Unit 06 Albuquerque, NM	1.0	1.0	560	$950	$1.70	24d	1	1.44mi
100 Gold Ave SW #303 Albuquerque, NM	1.0	1.0	1112	$2,000	$1.80	44d	1	1.44mi
100 Gold Ave SW Albuquerque, NM	1.0	2.0	1100	$1,849	$1.68	4d	1	1.44mi
915 Iron Ave SW Albuquerque, NM	2.0	1.0	915	$2,000	$2.19	24d	1	1.44mi
1101 Wilmoore Dr SE Unit 1103 Albuquerque, NM	1.0	1.0	600	$825	$1.38	4d	1	1.47mi
611 Lead Ave SW Albuquerque, NM	2.0	1.0–2.0	731	$1,699	$2.32	3d	31	1.47mi

Listing history 3 events

1. 2026-06-07
   statusdays on market $135,000 Pending 3 DOM
2. 2026-06-05
   remarks 407-char remark
3. 2026-06-05
   listed $135,000 Active 1 DOM

ⓘ 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: $1,852 · $154/mo
• Projected year-2 tax: $1,852 · $154/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,512
• − Mortgage interest: −$7,562
• − Property taxes: −$1,852
• − Insurance: −$675
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$3,927
• Taxable loss: −$986
• Est. tax savings @ 24.0%: +$237
• After-tax cash flow: $1,469/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

2 events — show timeline

• 2026-06-03 Listed $135,000 Southwest MLS
• 2024-05-16 Sold (Public Records) — Public Records

Property tax history

-12.8%/yr

Latest (2025): $1,852 · +95.0% YoY. Source: county tax records.