9301 Volcano Rd NW Trlr 186 · Albuquerque, NM 87121

$109,000

4 bd · 2.0 ba · 1,344 sqft · Manufactured · 71 Days on market

Built 2000 Fair condition $81/sqft · 61% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• Condition / age +2.2/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this spacious and well-maintained 4-bedroom, 2-bath manufactured home located in a desirable manufactured home community! Offering approximately 1344sqft of comfortable living space, this home features an open-concept floor plan perfect for family living and entertaining. The bright and airy living room flows seamlessly into the dining area and updated kitchen, complete with stainless appliances. The primary suite offers a private retreat with a generous walk-in closet and en-suite bathroom. Three additional bedrooms provide plenty of space for family, guests, or a home office, while the second full bath is conveniently located for everyday use. The home has been propertly maintained with metal roof installed in 2022, evaporative cooling in 2025, and water heater in 2024.

Key facts

• Metal roof
• Walk-in closet
• Stainless appliances

Tags

• OPEN-CONCEPT FLOOR PLAN
• STAINLESS APPLIANCES
• WALK-IN CLOSET
• EN-SUITE BATHROOM
• METAL ROOF
• EVAPORATIVE COOLING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $109k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $980 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $102k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.1% 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 (-1.9%/yr); 259 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• This rent runs 43% of the median local income ($61k/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 $754 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 $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $102,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.01% ✓
• Cap rate: 17.08%
• Cash-on-cash: 38.54%
• DSCR: 2.71
• GRM: 4.1

CMA / ARV

• ARV (median comp): $278,000
• List price: $109,000
• Delta: -60.79%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8709 Odin Rd SW	0.69mi	3/2.0 (-1)	1,326 (-1%)	2mo	$278,000	$210	59

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: 31.2%
• Equity multiple: 2.26×
• Total profit: $38,364
• Equity at exit: $16,252

10-year hold

• IRR: 36.7%
• Equity multiple: 3.92×
• Total profit: $89,071
• Equity at exit: $9,424

Cash invested: $30,520 (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 87121

• Home prices YoY: -19.4%
• Rents YoY: -1.9%
• Active inventory: 259
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,194 high
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $980

Break-even live

Break-even rent $954

Max offer price $109,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,055	-5% $1,018	+0% $980	+5% $942	+10% $905
Rent	-10% $807	-5% $893	+0% $980	+5% $1,067	+10% $1,153
Rate	-1.0pp $1,035	-0.5pp $1,008	base $980	+0.5pp $952	+1.0pp $923

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9031 San Nicholas Ave NW Albuquerque, NM	3.0	2.0	1727	$2,125	$1.23	4d	1	0.50mi
8200 Bridge Blvd SW Albuquerque, NM	2.0–4.0	2.0	992	$2,595	$2.62	3d	5	0.75mi
8416 Magenta Rd NW Albuquerque, NM	3.0	2.0	1256	$2,195	$1.75	44d	1	1.07mi
728 Nicklaus Dr SW Albuquerque, NM	3.0	2.0	1425	$1,800	$1.26	45d	1	1.29mi
8404 Casa Morena Ct NW Albuquerque, NM	3.0	2.5	1768	$2,000	$1.13	15d	1	1.41mi
8401 Casa Negra Ct NW Albuquerque, NM	3.0	2.5	1601	$1,900	$1.19	4d	1	1.48mi

Listing history 15 events

1. 2026-06-18
   days on market $109,000 Active 71 DOM
2. 2026-06-17
   days on market $109,000 Active 70 DOM
3. 2026-06-16
   days on market $109,000 Active 69 DOM
4. 2026-06-15
   days on market $109,000 Active 68 DOM
5. 2026-06-13
   days on market $109,000 Active 66 DOM
6. 2026-06-10
   days on market $109,000 Active 63 DOM
7. 2026-06-09
   days on market $109,000 Active 62 DOM
8. 2026-06-08
   days on market $109,000 Active 61 DOM
9. 2026-06-07
   days on market $109,000 Active 60 DOM
10. 2026-06-05
    days on market $109,000 Active 57 DOM
11. 2026-06-03
    days on market $109,000 Active 56 DOM
12. 2026-06-02
    days on market $109,000 Active 55 DOM
13. 2026-06-01
    days on market $109,000 Active 54 DOM
14. 2026-05-31
    days on market $109,000 Active 53 DOM
15. 2026-02-27
    listed $109,000 Active 798-char remark

    Show marketing remark (798 chars)

    Welcome home to this spacious and well-maintained 4-bedroom, 2-bath manufactured home located in a desirable manufactured home community! Offering approximately 1344sqft of comfortable living space, this home features an open-concept floor plan perfect for family living and entertaining. The bright and airy living room flows seamlessly into the dining area and updated kitchen, complete with stainless appliances. The primary suite offers a private retreat with a generous walk-in closet and en-suite bathroom. Three additional bedrooms provide plenty of space for family, guests, or a home office, while the second full bath is conveniently located for everyday use. The home has been propertly maintained with metal roof installed in 2022, evaporative cooling in 2025, and water heater in 2024.

ⓘ 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 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: $26,330
• − Mortgage interest: −$6,106
• − Property taxes: −$1,635
• − Insurance: −$545
• − Repairs & maintenance: −$2,106
• − Management: −$2,106
• − Depreciation: −$3,171
• Taxable income: $10,660
• Est. tax owed @ 24.0%: −$2,559
• After-tax cash flow: $9,203/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 · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs and maintenance to improve its condition and increase its value. Painting, replacing cabinets and countertops, and repairing exterior siding are some of the key areas to focus on.

Repairs flagged

• Moderate Kitchen cabinets — Signs of wear and tear.
• Moderate Bathroom shower curtains — Signs of wear and tear.
• Moderate Kitchen countertops — Signs of wear and tear.
• Minor Exterior siding — Some visible signs of wear.
• Moderate Interior walls — Signs of wear and discoloration.
• Moderate Windows — Signs of wear.
• Moderate HVAC unit — Signs of wear and tear.
• Moderate Landscaping — Some visible signs of wear and debris on the ground.

Value-add opportunities

• Both Paint interior walls — Fresh paint can make the home look more appealing and increase both resale and rental value.
• Both Replace kitchen cabinets — New cabinets can significantly improve the kitchen's appearance and functionality, increasing both resale and rental value.
• Both Replace bathroom shower curtains — Fresh, clean shower curtains can make the bathroom look more appealing and increase both resale and rental value.
• Both Replace kitchen countertops — New countertops can improve the kitchen's appearance and functionality, increasing both resale and rental value.
• Both Repair exterior siding — Fresh siding can improve the home's curb appeal and increase both resale and rental value.
• Both Paint interior walls — Fresh paint can make the home look more appealing and increase both resale and rental value.
• Both Replace windows — New windows can improve the home's energy efficiency and increase both resale and rental value.
• Both Clean HVAC unit — A clean HVAC unit can improve the home's air quality and increase both resale and rental value.
• Both Maintain landscaping — Well-maintained landscaping can improve the home's curb appeal and increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Signs of wear and tear.	Moderate	$3,000–15,000
Bathroom shower curtains · Signs of wear and tear.	Moderate	$3,000–15,000
Kitchen countertops · Signs of wear and tear.	Moderate	$3,000–15,000
Exterior siding · Some visible signs of wear.	Minor	$500–3,000
Interior walls · Signs of wear and discoloration.	Moderate	$3,000–15,000
Windows · Signs of wear.	Moderate	$3,000–15,000
HVAC unit · Signs of wear and tear.	Moderate	$3,000–15,000
Landscaping · Some visible signs of wear and debris on the ground.	Moderate	$3,000–15,000
Total estimated repair cost · 8 items		$21,500–108,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can make the home look more appealing and increase both resale and rental value. ↑
• Both Replace kitchen cabinets — New cabinets can significantly improve the kitchen's appearance and functionality, increasing both resale and rental value. ↑
• Both Replace bathroom shower curtains — Fresh, clean shower curtains can make the bathroom look more appealing and increase both resale and rental value. ↑
• Both Replace kitchen countertops — New countertops can improve the kitchen's appearance and functionality, increasing both resale and rental value. ↑
• Both Repair exterior siding — Fresh siding can improve the home's curb appeal and increase both resale and rental value. ↑
• Both Paint interior walls — Fresh paint can make the home look more appealing and increase both resale and rental value. ↑
• Both Replace windows — New windows can improve the home's energy efficiency and increase both resale and rental value. ↑
• Both Clean HVAC unit — A clean HVAC unit can improve the home's air quality and increase both resale and rental value. ↑
• Both Maintain landscaping — Well-maintained landscaping can improve the home's curb appeal and increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 75,510
• Household income: $60,796
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 1617.0

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: 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

Price history

1 event — show timeline

• 2026-02-27 Listed $109,000 Southwest MLS