916 Franciscan St NE · Albuquerque, NM 87102

$250,000

2 bd · 1.0 ba · 1,289 sqft · SingleFamily public records · 224 Days on market

Built 1948 3,484 sqft lot $194/sqft · 14% below area Est $283k · 12% under ↓ 16% since listing

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Why this score? — see what drove the D 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).

• ARV discount +12.7/15.0
• Cash flow +10.4/30.0
• Schools +5.3/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors!! Come see this amazing opportunity in the historic Martinez Town neighborhood! MX-L zoning! 3 adjoining properties just under 1/3 of an acre! In close proximity to Old Town, Downtown, hospitals, UNM and 1-40. The possibilities are endless.

Key facts

• Mx-l zoning
• 3,484 sq ft lot
• Built 1948

Tags

• HISTORIC MARTINEZ TOWN
• MX-L ZONING
• 3 ADJOINING PROPERTIES
• CLOSE PROXIMITY TO OLD TOWN
• CLOSE PROXIMITY TO DOWNTOWN
• CLOSE PROXIMITY TO HOSPITALS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-199 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (31.8% below list).
• Recommended offer: $170k (31.8% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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; 40 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).
• At $1,705/mo this rent would consume 48% 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 224 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $49k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,484 (31.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 224 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.68% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.27%
• DSCR: 0.90
• GRM: 12.2

CMA / ARV

• ARV (median comp): $282,911
• List price: $250,000
• Delta: -11.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
916 Franciscan St NE	0.00mi	2/1.0	1,255 (-3%)	1mo	$250,000	$199	95
1002 Walter St NE	0.11mi	2/1.0	1,308 (+2%)	1mo	$270,000	$206	92
519 Slate Ave NE	0.11mi	3/1.0 (+1)	1,296 (+0%)	10mo	$232,000	$179	80
1208 3rd St NW	0.53mi	2/1.5	1,258 (-2%)	11mo	$129,000	$103	60
510 Mountain Rd NW	0.68mi	3/2.0 (+1)	1,242 (-4%)	3mo	$325,000	$262	51
715 Kinley Ave NE	0.42mi	3/1.5 (+1)	1,128 (-12%)	5mo	$289,999	$257	49
1019 5th St NW	0.65mi	3/2.0 (+1)	1,196 (-7%)	4mo	$305,000	$255	46
520 San Ignacio Ct NE	0.45mi	3/2.0 (+1)	1,095 (-15%)	2mo	$300,000	$274	44

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: -20.2%
• Equity multiple: 0.29×
• Total profit: $-49,899
• Equity at exit: $37,276

10-year hold

• IRR: -10.0%
• Equity multiple: 0.35×
• Total profit: $-45,776
• Equity at exit: $21,615

Cash invested: $70,000 (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: 12.2×

Monthly cashflow live

• Estimated rent: $1,705 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$64 /mo · $767/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-199

Break-even live

Break-even rent $1,956

Max offer price $214,891

Occupancy floor —

Sensitivity live

Price	-10% $-57	-5% $-128	+0% $-199	+5% $-270	+10% $-340
Rent	-10% $-333	-5% $-266	+0% $-199	+5% $-131	+10% $-64
Rate	-1.0pp $-73	-0.5pp $-135	base $-199	+0.5pp $-264	+1.0pp $-329

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Marble Ave NE Albuquerque, NM	2.0	1.0	980	$1,750	$1.79	44d	1	0.01mi
315 Belvedere Ave SW Albuquerque, NM	2.0	2.0	1026	$1,595	$1.55	24d	1	0.46mi
205 Edith Blvd NE Albuquerque, NM	2.0	2.0	1300	$1,900	$1.46	4d	1	0.51mi
950 4th St NW Unit 310 Albuquerque, NM	2.0	2.0	1010	$1,560	$1.54	44d	1	0.55mi
505 Marble Ave NW Unit 1-F Albuquerque, NM	2.0	2.0	1000	$2,400	$2.40	24d	1	0.66mi
505 Marble Ave NW Albuquerque, NM	2.0	2.0	1000	$2,000	$2.00	44d	1	0.66mi
1501 Indian School Rd NE Albuquerque, NM	1.0–2.0	1.0–2.0	769	$1,450	$1.89	4d	26	0.76mi
219 Central Ave NW Unit 301 Albuquerque, NM	2.0	2.0	1543	$3,200	$2.07	44d	1	0.76mi
100 Gold Ave SW Albuquerque, NM	1.0	2.0	1100	$1,849	$1.68	4d	1	0.82mi
100 Gold Ave SW #303 Albuquerque, NM	1.0	1.0	1112	$2,000	$1.80	44d	1	0.82mi
706 Fruit Ave NW Apt A Albuquerque, NM	2.0	2.5	925	$1,399	$1.51	44d	1	0.85mi
423 Walter St SE Albuquerque, NM	3.0	2.0	1420	$2,599	$1.83	44d	1	0.87mi
720 Roma Ave NW Albuquerque, NM	2.0	2.0	985	$1,600	$1.62	24d	1	0.87mi
421 High St SE Albuquerque, NM	2.0	2.0	1398	$1,850	$1.32	44d	1	0.88mi
423 High St SE Albuquerque, NM	2.0	2.0	1398	$1,850	$1.32	44d	1	0.88mi
817 Slate Ave NW Albuquerque, NM	2.0	1.0	1200	$1,690	$1.41	24d	1	0.91mi
323 Platinum St SW Albuquerque, NM	2.0	1.5	1232	$1,800	$1.46	44d	1	0.92mi
343 Platinum St SW Unit B Albuquerque, NM	1.0	1.5	1033	$1,800	$1.74	44d	1	0.94mi
404 Prospect Ave NE Unit B Albuquerque, NM	2.0	1.0	900	$1,695	$1.88	15d	1	1.08mi
611 Lead Ave SW Albuquerque, NM	2.0	1.0–2.0	731	$1,699	$2.32	3d	31	1.11mi
1106 Arias Ave NW Albuquerque, NM	2.0	2.0	1296	$2,500	$1.93	44d	1	1.11mi
702 Broadway Blvd SE #8 Albuquerque, NM	2.0	1.5	1071	$1,825	$1.70	3d	1	1.12mi
301 Yale Blvd NE Unit PG3000412 Albuquerque, NM	3.0	1.0	960	$1,600	$1.67	24d	1	1.14mi
877 Silver Ave SW Albuquerque, NM	1.0	1.5	1011	$3,000	$2.97	44d	1	1.16mi
2406 Broadway Blvd NE Apt A Albuquerque, NM	3.0	3.0	1800	$2,150	$1.19	4d	1	1.16mi
1704 Lead Ave SE Unit Lead Ave SE unit 1704 Lead C Albuquerque, NM	2.0	2.0	1000	$1,450	$1.45	44d	1	1.17mi
1704 Lead Ave SE Unit Lead Ave SE unit 1704 Lead C Albuquerque, NM	2.0	2.0	1100	$1,450	$1.32	3d	1	1.17mi
2001 Gold Ave SE Albuquerque, NM	1.0	1.0	845	$1,725	$2.04	44d	3	1.20mi
2001 Gold Ave SE Unit 10 Albuquerque, NM	1.0	1.0	1050	$1,975	$1.88	24d	1	1.20mi
208 13th St NW Unit B Albuquerque, NM	1.0	1.0	1070	$1,350	$1.26	44d	1	1.23mi
815 John St SE Albuquerque, NM	2.0	1.0	930	$1,600	$1.72	44d	1	1.25mi
514 10th St SW Albuquerque, NM	1.0	1.0	1000	$1,200	$1.20	4d	1	1.29mi
1105 Silver Ave SW Unit B Albuquerque, NM	2.0	2.5	1300	$2,200	$1.69	44d	1	1.30mi
915 Iron Ave SW Albuquerque, NM	2.0	1.0	915	$2,000	$2.19	24d	1	1.34mi
601 Menaul Blvd NE Unit 4406 Albuquerque, NM	2.0	2.0	1347	$1,800	$1.34	3d	1	1.37mi
601 Menaul Blvd NE Albuquerque, NM	2.0	2.0	1332	$1,850	$1.39	15d	1	1.39mi
601 Menaul Blvd NE Albuquerque, NM	2.0	2.0	1340	$1,600	$1.19	44d	1	1.39mi
1503 Central Ave NW Unit 108D Albuquerque, NM	1.0	1.0	950	$1,990	$2.09	4d	1	1.40mi
1321 Lobo Pl NE Albuquerque, NM	3.0	2.0	1724	$2,250	$1.31	45d	1	1.41mi
2134 Coal Pl SE Unit PG3000411 Albuquerque, NM	3.0	1.0	1669	$1,750	$1.05	24d	1	1.45mi

Listing history 8 events

1. 2026-05-10
   status Pending 262-char remark

   Show marketing remark (262 chars)

   Calling all investors!! Come see this amazing opportunity in the historic Martinez Town neighborhood! MX-L zoning! 3 adjoining properties just under 1/3 of an acre! In close proximity to Old Town, Downtown, hospitals, UNM and 1-40. The possibilities are endless.

2. 2026-04-03
   status Active 262-char remark

   Show marketing remark (262 chars)

   Calling all investors!! Come see this amazing opportunity in the historic Martinez Town neighborhood! MX-L zoning! 3 adjoining properties just under 1/3 of an acre! In close proximity to Old Town, Downtown, hospitals, UNM and 1-40. The possibilities are endless.

3. 2026-04-03
   price $250,000 262-char remark

   Show marketing remark (262 chars)

   Calling all investors!! Come see this amazing opportunity in the historic Martinez Town neighborhood! MX-L zoning! 3 adjoining properties just under 1/3 of an acre! In close proximity to Old Town, Downtown, hospitals, UNM and 1-40. The possibilities are endless.

4. 2026-03-27
   status Pending 262-char remark

   Show marketing remark (262 chars)

   Calling all investors!! Come see this amazing opportunity in the historic Martinez Town neighborhood! MX-L zoning! 3 adjoining properties just under 1/3 of an acre! In close proximity to Old Town, Downtown, hospitals, UNM and 1-40. The possibilities are endless.

5. 2026-02-04
   price $260,000 262-char remark

   Show marketing remark (262 chars)

   Calling all investors!! Come see this amazing opportunity in the historic Martinez Town neighborhood! MX-L zoning! 3 adjoining properties just under 1/3 of an acre! In close proximity to Old Town, Downtown, hospitals, UNM and 1-40. The possibilities are endless.

6. 2025-05-12
   price $300,000
7. 2024-10-01
   price $320,000
8. 2024-08-22
   listed $299,000 Active 262-char remark

   Show marketing remark (262 chars)

   Calling all investors!! Come see this amazing opportunity in the historic Martinez Town neighborhood! MX-L zoning! 3 adjoining properties just under 1/3 of an acre! In close proximity to Old Town, Downtown, hospitals, UNM and 1-40. The possibilities are endless.

ⓘ 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: $767 · $64/mo
• Projected year-2 tax: $2,000 · $167/mo
• Expected delta: +$1,233/yr (+$103/mo · 160.7%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $20,458
• − Mortgage interest: −$14,004
• − Property taxes: −$767
• − Insurance: −$2,048
• − Repairs & maintenance: −$1,637
• − Management: −$1,637
• − Depreciation: −$7,273
• Taxable loss: −$6,906
• Est. tax savings @ 24.0%: +$1,658
• After-tax cash flow: $-727/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

-16.4% since first listed

8 events — show timeline

• 2026-05-10 Pending — Southwest MLS
• 2026-04-03 Relisted — Southwest MLS
• 2026-04-03 Price Changed $250,000 Southwest MLS
• 2026-03-27 Pending — Southwest MLS
• 2026-02-04 Price Changed $260,000 Southwest MLS
• 2025-05-12 Price Changed $300,000 Southwest MLS
• 2024-10-01 Price Changed $320,000 Southwest MLS
• 2024-08-22 Listed $299,000 Southwest MLS

Property tax history

-1.9%/yr

Latest (2025): $767 · -24.5% YoY. Source: county tax records.