1100 Alvarado Dr SE Apt 108 · Albuquerque, NM 87108

$127,500

2 bd · 2.0 ba · 932 sqft · Condo · 194 Days on market

Built 1965 Good condition $137/sqft · 45% below area Est $232k · 45% under $383/mo HOA · 38% of rent ↓ 8% 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 +15.0/15.0
• Schools +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• Cash flow +2.2/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come and see this well maintained and updated condo! Lower level that faces the courtyard and is next to the pool just adds to the entering living of your home! Cozy wood burning fireplace, bar tops in your kitchen, large bedrooms with nice walk in showers completes what this condo has to offer! Your home is close to the Base, Airport, UNM and Downtown so it gives you ease of commute to where ever you need to go! Schedule a time to preview it today!

Key facts

• $383 HOA
• Pool
• Built 1965

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $128k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-458 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $61k (51.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (19.9% below list).
• Recommended offer: $61k (51.9% below list) — sets the bar for cash-flow.
• Cap rate 2.0% vs local median 3.8% in Albuquerque — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Coronado Elementary (308 students, 30% FRL); Wilson Middle (401 students, 100% FRL); Highland High (math 30% / reading 70%, grade D+, #36 of 110 statewide, top 45%, 1,152 students, 100% FRL) — zoned schools average 77% FRL vs 60% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 50% at this address vs 63% district-wide (-13 pts) — the specific schools serving this property underperform the Albuquerque Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.5%/yr); 235 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 53d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $882 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.

Recommended offer $61,277 (51.9% 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 194 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.80% ✗
• Cap rate: 1.99%
• Cash-on-cash: -15.38%
• DSCR: 0.32
• GRM: 10.4

CMA / ARV

• ARV (median comp): $232,400
• List price: $127,500
• Delta: -45.14%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 Laguayra Dr NE	0.26mi	2/1.0	960 (+3%)	1mo	$260,000	$271	78
305 Adams St NE	0.83mi	2/1.0	924 (-1%)	1mo	$375,000	$406	59
701 Palomas Dr NE	0.48mi	2/2.0	1,117 (+20%)	1mo	$245,000	$219	52
518 Aliso Dr NE	1.28mi	2/1.0	987 (+6%)	1mo	$330,000	$334	50
317 Tulane Dr SE	1.48mi	2/1.0	994 (+7%)	0mo	$335,000	$337	50
5108 Zuni Rd SE	0.53mi	3/2.0 (+1)	1,044 (+12%)	1mo	$249,900	$239	50
813 Madeira Dr NE	0.62mi	3/1.0 (+1)	1,025 (+10%)	0mo	$275,000	$268	45
422 Carlisle Blvd SE	1.33mi	2/2.0	1,118 (+20%)	1mo	$385,000	$344	39
625 E Monroe St SE	0.73mi	2/1.0	1,140 (+22%)	0mo	$275,000	$241	37
903 Manzano St NE	1.19mi	3/1.0 (+1)	1,047 (+12%)	0mo	$335,000	$320	35
316 Washington St NE	0.87mi	3/2.0 (+1)	1,085 (+16%)	0mo	$375,000	$346	35
234 Texas St NE	1.45mi	1/1.0 (-1)	1,100 (+18%)	0mo	$109,900	$100	31

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 · 2.54% rent growth · sell at horizon

5-year hold

• IRR: -46.4%
• Equity multiple: -0.40×
• Total profit: $-50,028
• Equity at exit: $19,011

10-year hold

• IRR: -89.7%
• Equity multiple: -1.30×
• Total profit: $-81,990
• Equity at exit: $11,024

Cash invested: $35,700 (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 87108

• Rents YoY: 2.5%
• Active inventory: 235
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,021 high
• Mortgage (P&I): −$669
• Tax est. 1.5%: −$159 /mo · $1,912/yr
• Insurance: −$53
• HOA: −$383
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $-458

Break-even live

Break-even rent $1,600

Max offer price $61,277

Occupancy floor —

Sensitivity live

Price	-10% $-370	-5% $-414	+0% $-458	+5% $-502	+10% $-546
Rent	-10% $-538	-5% $-498	+0% $-458	+5% $-417	+10% $-377
Rate	-1.0pp $-393	-0.5pp $-425	base $-458	+0.5pp $-491	+1.0pp $-524

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: $31,875
• Closing costs: $3,825
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Cardenas Dr NE Albuquerque, NM	1.0	1.0	548	$836	$1.52	19d	1	0.09mi
112 Cardenas Dr NE Albuquerque, NM	1.0	1.0	546	$836	$1.53	35d	1	0.10mi
302 Valencia Dr NE Albuquerque, NM	2.0	1.0	996	$1,550	$1.56	47d	1	0.20mi
5500 Copper Ave NE Albuquerque, NM	2.0	1.5	1000	$1,150	$1.15	16d	3	0.28mi
510 Valencia Dr SE Unit C Albuquerque, NM	1.0	1.0	675	$975	$1.44	72d	1	0.35mi
517 Palomas Dr SE Unit D Albuquerque, NM	1.0	1.0	635	$1,100	$1.73	92d	1	0.36mi
533 Valencia Dr SE Unit 5 Albuquerque, NM	1.0	1.0	600	$850	$1.42	92d	1	0.38mi
504 Ortiz Dr SE Unit A Albuquerque, NM	2.0	1.0	750	$1,100	$1.47	72d	1	0.38mi
536 Cardenas Dr SE Apt B Albuquerque, NM	2.0	1.0	600	$1,036	$1.73	92d	1	0.40mi
533 Palomas Dr SE Albuquerque, NM	1.0	1.0	750	$1,084	$1.45	92d	1	0.40mi
513 Madeira Dr SE Albuquerque, NM	2.0	1.0	1046	$1,175	$1.12	92d	1	0.40mi
536 Madeira Dr SE Unit C Albuquerque, NM	2.0	1.0	875	$1,050	$1.20	72d	1	0.42mi
541 Palomas Dr SE Apt A Albuquerque, NM	2.0	1.0	850	$900	$1.06	27d	1	0.42mi
540 Madeira Dr SE Unit C Albuquerque, NM	2.0	1.0	875	$1,000	$1.14	47d	1	0.43mi
141 Manzano St NE Albuquerque, NM	2.0	1.0	800	$850	$1.06	72d	1	0.47mi
149 Manzano St NE Albuquerque, NM	2.0	1.0	805	$925	$1.15	35d	1	0.48mi
400 Georgia St SE Unit B Albuquerque, NM	2.0	1.0	800	$750	$0.94	92d	1	0.62mi
400 Georgia St SE Unit C Albuquerque, NM	2.0	1.0	800	$850	$1.06	52d	1	0.62mi
401 Indiana St SE Unit 405-B Albuquerque, NM	2.0	1.0	800	$975	$1.22	68d	1	0.64mi
301 Monroe St NE Albuquerque, NM	1.0	1.0	620	$1,395	$2.25	72d	1	0.66mi
304 Jefferson St NE Apt 2 Albuquerque, NM	1.0	1.0	525	$900	$1.71	25d	1	0.75mi
529 Indiana St SE Apt D Albuquerque, NM	3.0	1.0	1000	$1,500	$1.50	93d	1	0.76mi
4949 Roma Ave NE Albuquerque, NM	2.0	1.0–1.5	870	$1,366	$1.57	16d	13	0.76mi
4805 Marquette Ave NE Albuquerque, NM	1.0–2.0	1.0	714	$1,575	$2.21	19d	4	0.76mi
516 Indiana St SE Unit B Albuquerque, NM	2.0	1.0	800	$900	$1.12	35d	1	0.76mi
516 Indiana St SE Unit C Albuquerque, NM	1.0	1.0	600	$750	$1.25	72d	1	0.76mi
201 Adams St SE Albuquerque, NM	1.0	1.0	570	$828	$1.45	35d	1	0.77mi
225 Adams St SE Albuquerque, NM	1.0	1.0	570	$828	$1.45	35d	1	0.78mi
433 Louisiana Blvd SE Unit 1 Albuquerque, NM	2.0	1.0	950	$750	$0.79	27d	1	0.78mi
433 Louisiana Blvd SE Unit 1 Albuquerque, NM	2.0	1.0	950	$850	$0.89	41d	1	0.78mi
317 Adams St SE Albuquerque, NM	1.0	1.0	535	$865	$1.62	19d	2	0.79mi
1000 Madeira Dr SE Unit 7 Albuquerque, NM	1.0	1.0	628	$700	$1.11	92d	1	0.82mi
7013 Trumbull Ave SE Albuquerque, NM	2.0	1.0	716	$950	$1.33	92d	1	0.82mi
911 Alvarado Dr SE Unit 4 Albuquerque, NM	1.0	1.0	650	$995	$1.53	52d	1	0.83mi
1010 Palomas Dr SE Unit H Albuquerque, NM	2.0	1.0	900	$995	$1.11	41d	1	0.83mi
1010 Palomas Dr SE Unit H Albuquerque, NM	2.0	1.0	900	$995	$1.11	63d	1	0.83mi
1001 Madeira Dr SE Albuquerque, NM	1.0	1.0	567	$925	$1.63	47d	1	0.84mi
919 Alvarado Dr SE Unit 919-D Albuquerque, NM	2.0	1.0	911	$1,025	$1.13	19d	1	0.85mi
919 Alvarado Dr SE Unit 923-D Albuquerque, NM	2.0	1.0	911	$1,025	$1.13	72d	1	0.85mi
1110 Ortiz Dr SE Albuquerque, NM	2.0	1.5	1075	$1,200	$1.12	47d	1	0.85mi

HOA detail $383/mo · $4,596/yr condo

• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $127,500 Active 194 DOM
2. 2026-06-17
   days on market $127,500 Active 193 DOM
3. 2026-06-16
   days on market $127,500 Active 192 DOM
4. 2026-06-15
   days on market $127,500 Active 191 DOM
5. 2026-06-13
   days on market $127,500 Active 189 DOM
6. 2026-06-10
   days on market $127,500 Active 186 DOM
7. 2026-06-09
   days on market $127,500 Active 185 DOM
8. 2026-06-08
   days on market $127,500 Active 184 DOM
9. 2026-06-07
   days on market $127,500 Active 183 DOM
10. 2026-06-05
    days on market $127,500 Active 180 DOM
11. 2026-06-03
    days on market $127,500 Active 179 DOM
12. 2026-06-02
    days on market $127,500 Active 178 DOM
13. 2026-06-01
    days on market $127,500 Active 177 DOM
14. 2026-05-31
    days on market $127,500 Active 176 DOM
15. 2026-05-06
    price $127,500 453-char remark

    Show marketing remark (453 chars)

    Come and see this well maintained and updated condo! Lower level that faces the courtyard and is next to the pool just adds to the entering living of your home! Cozy wood burning fireplace, bar tops in your kitchen, large bedrooms with nice walk in showers completes what this condo has to offer! Your home is close to the Base, Airport, UNM and Downtown so it gives you ease of commute to where ever you need to go! Schedule a time to preview it today!

16. 2026-02-11
    price $130,000 453-char remark

    Show marketing remark (453 chars)

    Come and see this well maintained and updated condo! Lower level that faces the courtyard and is next to the pool just adds to the entering living of your home! Cozy wood burning fireplace, bar tops in your kitchen, large bedrooms with nice walk in showers completes what this condo has to offer! Your home is close to the Base, Airport, UNM and Downtown so it gives you ease of commute to where ever you need to go! Schedule a time to preview it today!

17. 2025-12-03
    listed $135,000 Active 453-char remark

    Show marketing remark (453 chars)

    Come and see this well maintained and updated condo! Lower level that faces the courtyard and is next to the pool just adds to the entering living of your home! Cozy wood burning fireplace, bar tops in your kitchen, large bedrooms with nice walk in showers completes what this condo has to offer! Your home is close to the Base, Airport, UNM and Downtown so it gives you ease of commute to where ever you need to go! Schedule a time to preview it today!

18. 2024-04-15
    status Pending 725-char remark

    Show marketing remark (725 chars)

    This property in the Moana community condo offers a range of desirable features. The seller is willing to contribute 2/1 towards the buy down, making it an attractive option for the buyers, full price offer to exercise this option. The condo boasts a fireplace, which adds warmth and ambiance to the living space. The stunning updates throughout the property, including flooring and modern kitchen with new appliances and stone countertops, making it a visually appealing space. The new windows not only enhance the aesthetic appeal also provide safety. Additionally , the condo is conveniently located near the pool and ground floor, allowing for easy access. The bean ceiling add character to the unit. REC will be consider

19. 2024-02-05
    listed $137,900 Active 725-char remark

    Show marketing remark (725 chars)

    This property in the Moana community condo offers a range of desirable features. The seller is willing to contribute 2/1 towards the buy down, making it an attractive option for the buyers, full price offer to exercise this option. The condo boasts a fireplace, which adds warmth and ambiance to the living space. The stunning updates throughout the property, including flooring and modern kitchen with new appliances and stone countertops, making it a visually appealing space. The new windows not only enhance the aesthetic appeal also provide safety. Additionally , the condo is conveniently located near the pool and ground floor, allowing for easy access. The bean ceiling add character to the unit. REC will be consider

ⓘ 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

• 🌡 Heat 4/10 Moderate
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,250
• − Mortgage interest: −$7,142
• − Property taxes: −$1,912
• − Insurance: −$638
• − Repairs & maintenance: −$980
• − Management: −$980
• − HOA: −$4,596
• − Depreciation: −$3,709
• Taxable loss: −$7,707
• Est. tax savings @ 24.0%: +$1,850
• After-tax cash flow: $-3,642/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 Est. rehab $4,660–$13,980 screening

This well-maintained and updated condo in the Moana community offers a cozy living space with modern updates and a desirable location.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal and property value ↑
• Rental Clean gutters — Keeps property in good condition and prevents water damage ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 50/100

Zoned Schools

Elementary Whittier Elementary Middle Wilson Middle High Highland High D+ NM #36/110 Nat'l #5,489/17,239

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

B Composite livability gradescore 72/100

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 · 704,528 people
• City population: 647,165
• Metro: Albuquerque, NM
• Population (ZIP): 36,331
• Household income: $42,724
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 49% White 34% Two or more races 21% Native American 6% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 31% Cuban 3%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 18% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 26% Other Indo-European 2% Tagalog/Filipino 1%

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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: ▼ -228.14%
• Current HPI: 238.53
• Rent YoY: ▲ 2.54%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-7.5% since first listed

5 events — show timeline

• 2026-05-06 Price Changed $127,500 Southwest MLS
• 2026-02-11 Price Changed $130,000 Southwest MLS
• 2025-12-03 Listed $135,000 Southwest MLS
• 2024-04-15 Pending — Southwest MLS
• 2024-02-05 Listed $137,900 Southwest MLS