224 Atrisco Vista Blvd SW Trlr 945 · Albuquerque, NM 87121

$165,000

4 bd · 2.0 ba · 2,016 sqft · Manufactured · 77 Days on market

Built 2019 Good condition ↓ 4% 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this clean, beautiful, well-maintained manufactured home located in the highly desirable Tierra West community! This spacious home features 4 bedrooms and 2 full bathrooms, with generously sized bedrooms and two large living areas; perfect for both relaxing and entertaining. Enjoy year-round comfort with refrigerated air and a layout that is truly move-in ready. This home is packed with value, featuring all appliances, including a washer and dryer, ceiling fans throughout, plus a garbage disposal for added convenience. You'll also find 2 storage sheds and a large safe that will convey with the property. Recently updated with new blinds, modern light fixtures, and a smart thermostat, this home offers comfort and contemporary touches throughout.

Key facts

• Refrigerated air
• Manufactured home
• Large safe

Tags

• MANUFACTURED HOME
• TIERRA WEST COMMUNITY
• REFRIGERATED AIR
• ALL APPLIANCES
• STORAGE SHEDS
• LARGE SAFE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $675 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 (-1.9%/yr); 259 active listings in the ZIP; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• At $2,298/mo this rent would consume 45% of the median local household income ($61k/yr) (locally 1617% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Recommended offer $155,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.39% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.54%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $9,563
• Equity at exit: $24,602

10-year hold

• IRR: 12.0%
• Equity multiple: 1.82×
• Total profit: $37,811
• Equity at exit: $14,266

Cash invested: $46,200 (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: 6.0×

Monthly cashflow live

• Estimated rent: $2,298 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $675

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 66%

Sensitivity live

Price	-10% $789	-5% $732	+0% $675	+5% $618	+10% $561
Rent	-10% $494	-5% $584	+0% $675	+5% $766	+10% $857
Rate	-1.0pp $758	-0.5pp $717	base $675	+0.5pp $632	+1.0pp $589

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $165,000 Active 77 DOM
2. 2026-06-17
   days on market $165,000 Active 76 DOM
3. 2026-06-16
   days on market $165,000 Active 75 DOM
4. 2026-06-15
   days on market $165,000 Active 74 DOM
5. 2026-06-13
   days on market $165,000 Active 72 DOM
6. 2026-06-10
   days on market $165,000 Active 69 DOM
7. 2026-06-09
   days on market $165,000 Active 68 DOM
8. 2026-06-08
   pricedays on market $165,000 Active 67 DOM
9. 2026-06-07
   days on market $168,000 Active 66 DOM
10. 2026-06-05
    days on market $168,000 Active 63 DOM
11. 2026-06-03
    days on market $168,000 Active 62 DOM
12. 2026-06-02
    days on market $168,000 Active 61 DOM
13. 2026-06-01
    days on market $168,000 Active 60 DOM
14. 2026-05-31
    days on market $168,000 Active 59 DOM
15. 2026-05-18
    price $168,000 764-char remark

    Show marketing remark (764 chars)

    Welcome to this clean, beautiful, well-maintained manufactured home located in the highly desirable Tierra West community! This spacious home features 4 bedrooms and 2 full bathrooms, with generously sized bedrooms and two large living areas; perfect for both relaxing and entertaining. Enjoy year-round comfort with refrigerated air and a layout that is truly move-in ready. This home is packed with value, featuring all appliances, including a washer and dryer, ceiling fans throughout, plus a garbage disposal for added convenience. You'll also find 2 storage sheds and a large safe that will convey with the property. Recently updated with new blinds, modern light fixtures, and a smart thermostat, this home offers comfort and contemporary touches throughout.

16. 2026-03-25
    listed $175,000 Active 764-char remark

    Show marketing remark (764 chars)

    Welcome to this clean, beautiful, well-maintained manufactured home located in the highly desirable Tierra West community! This spacious home features 4 bedrooms and 2 full bathrooms, with generously sized bedrooms and two large living areas; perfect for both relaxing and entertaining. Enjoy year-round comfort with refrigerated air and a layout that is truly move-in ready. This home is packed with value, featuring all appliances, including a washer and dryer, ceiling fans throughout, plus a garbage disposal for added convenience. You'll also find 2 storage sheds and a large safe that will convey with the property. Recently updated with new blinds, modern light fixtures, and a smart thermostat, this home offers comfort and contemporary touches throughout.

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 2 d/yr ≥95°F today · 5 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,576
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$2,206
• − Management: −$2,206
• − Depreciation: −$4,800
• Taxable income: $5,821
• Est. tax owed @ 24.0%: −$1,397
• After-tax cash flow: $6,705/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained mobile home in Tierra West is move-in ready with good condition and minimal repairs needed. Updates to paint and outdoor fixtures can significantly enhance its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace outdoor light fixtures — Modern fixtures improve curb appeal and safety.
• Both Install smart thermostat — Modernizes HVAC system and improves energy efficiency.
• Both Replace outdoor furniture — Fresh furniture enhances outdoor living space and curb appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace outdoor light fixtures — Modern fixtures improve curb appeal and safety. ↑
• Both Install smart thermostat — Modernizes HVAC system and improves energy efficiency. ↑
• Both Replace outdoor furniture — Fresh furniture enhances outdoor living space and curb appeal. ↑

ⓘ 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

• 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

-4.0% since first listed

2 events — show timeline

• 2026-05-18 Price Changed $168,000 Southwest MLS
• 2026-03-25 Listed $175,000 Southwest MLS