1179 Los Tulipanes Dr SE · Los Lunas, NM 87031

$89,500

3 bd · 2.0 ba · 1,140 sqft · Manufactured · 44 Days on market

Built 2026 Excellent condition 5,110 sqft lot

---

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
• Rent growth +5.0/5.0
• Condition / age +5.0/5.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Brand new 2026 single wide MOBILE HOME ONLY! 3-bedroom 2 bath. Kitchen includes brand new appliances, dish washer, coffee bar. Centrally located in Los Lunas, near the train station and river! Ready for you to move in. LAND LEASE $750 monthly

Key facts

• Brand new appliances
• Centrally located
• Coffee bar

Tags

• BRAND NEW APPLIANCES
• COFFEE BAR
• CENTRALLY LOCATED
• NEAR THE TRAIN STATION
• NEAR RIVER

Property features AI

Finance

• Other: Zoning: R-1
• Financial info: Monthly land lease: $750
• HOA & community: Leased land

Exterior

• Utilities: Cable available; Electricity available; Natural gas available; Phone available; Public sewer; Public water
• Home design: Single-story home; New construction; Faces west; Mariner model by Clayton
• Construction: Vinyl siding; Pitched shingle roof; Block foundation; Manufactured home model Mariner (76' x 16'); Built by Clayton
• Exterior features: Back yard fencing; City street frontage; Asphalt road access

Interior

• Kitchen: Dishwasher; Free-standing gas range; Refrigerator
• Bedrooms: Bedroom on the main level (10' x 10')
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Double-pane insulated windows; Vinyl flooring
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 3.8% in Los Lunas — 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 66/100 on livability (#46 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Los Lunas Public Schools (suburban): math 20% / reading 34% proficiency, ranked #34 of 95 in NM (top 36%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+33.2%/yr); 562 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 303 units permitted in Valencia County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% 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 $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Valencia County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,815 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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: 2.01% ✓
• Cap rate: 17.08%
• Cash-on-cash: 38.53%
• DSCR: 2.71
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $184,680
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1188 Los Tulipanes Dr SE	0.03mi	3/2.0	1,140 (0%)	1mo	$89,500	$79	98
1088 Orsino Ct SE	0.31mi	3/2.0	1,110 (-3%)	2mo	$180,000	$162	80
1092 Orsino Ct SE	0.31mi	3/2.0	1,092 (-4%)	9mo	$205,000	$188	72
1082 Lamb Ct SE	0.29mi	3/2.0	1,232 (+8%)	19mo	$162,000	$131	57

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 17.6%
• Equity multiple: 1.77×
• Total profit: $19,389
• Equity at exit: $13,345

10-year hold

• IRR: 30.5%
• Equity multiple: 4.69×
• Total profit: $92,399
• Equity at exit: $7,738

Cash invested: $25,060 (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 87031

• Home prices YoY: -29.8%
• Rents YoY: 33.2%
• Active inventory: 562
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,801 medium
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $378

Break-even live

Break-even rent $1,323

Max offer price $89,500

Occupancy floor 74%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1140 Elm Ct Los Lunas, NM	3.0	1.0	1275	$1,495	$1.17	14d	1	0.32mi
1143 De Vargas Ct SE Los Lunas, NM	3.0	2.0	1100	$1,700	$1.55	10d	1	0.45mi
250 Village Dr Apt 258 Los Lunas, NM	2.0	1.0	800	$1,225	$1.53	1d	1	0.49mi
250 Village Dr Apt 296 Los Lunas, NM	2.0	1.0	800	$1,250	$1.56	1d	1	0.49mi

Listing history 17 events

1. 2026-06-18
   days on market $89,500 Active 44 DOM
2. 2026-06-17
   days on market $89,500 Active 43 DOM
3. 2026-06-16
   days on market $89,500 Active 42 DOM
4. 2026-06-15
   days on market $89,500 Active 41 DOM
5. 2026-06-13
   days on market $89,500 Active 39 DOM
6. 2026-06-10
   days on market $89,500 Active 36 DOM
7. 2026-06-09
   days on market $89,500 Active 35 DOM
8. 2026-06-08
   days on market $89,500 Active 34 DOM
9. 2026-06-07
   days on market $89,500 Active 33 DOM
10. 2026-06-05
    days on market $89,500 Active 30 DOM
11. 2026-06-03
    days on market $89,500 Active 29 DOM
12. 2026-06-02
    days on market $89,500 Active 28 DOM
13. 2026-06-01
    days on market $89,500 Active 27 DOM
14. 2026-05-31
    days on market $89,500 Active 26 DOM
15. 2026-05-20
    status Active
16. 2026-04-22
    status Pending
17. 2026-04-07
    listed $89,500 Active

ⓘ 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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 20 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: $21,618
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$5,566
• − Repairs & maintenance: −$1,729
• − Management: −$1,729
• − Depreciation: −$2,604
• Taxable income: $3,633
• Est. tax owed @ 24.0%: −$872
• After-tax cash flow: $3,665/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 · 10 photos

Excellent 100/100 None rehab

This brand new 2026 single-wide mobile home is move-in ready with no repairs or maintenance needed. It offers a good investment opportunity with a land lease included in the monthly payment.

Value-add opportunities

• Both Land lease — Land lease included in the monthly payment, making it a turnkey investment.
• Both Landscaping — Landscaping can enhance curb appeal and increase property value.
• Both Furniture — Furniture can make the home more appealing to potential buyers or renters.
• Both Decor — Decor can make the home more inviting and increase its appeal to potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Land lease — Land lease included in the monthly payment, making it a turnkey investment. ↑
• Both Landscaping — Landscaping can enhance curb appeal and increase property value. ↑
• Both Furniture — Furniture can make the home more appealing to potential buyers or renters. ↑
• Both Decor — Decor can make the home more inviting and increase its appeal to potential buyers or renters. ↑

ⓘ 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: Los Lunas Public Schools
• NCES district ID: 3501680
• Math proficiency: 20% —
• Reading proficiency: 34% —
• Median HH income: $44,438
• Composite: 26.11/100
• National rank: #12724
• State rank: #34 of 95 in NM

Livability — Los Lunas

• Score: 66/100
• State rank: #46
• US rank: #12347

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Lunas, NM
• County: Valencia County · 68,779 people
• City population: 47,514
• Metro: Albuquerque, NM
• Population (ZIP): 47,514
• Household income: $60,902
• Rent vs Own: 16.8% rent · 83.2% own
• Severe rent burden: 602.0

Population outlook (Valencia County) Hauer SSP2

• Today (2025): 73,788 people
• By 2030: 72,101 · -2.3%
• By 2040: 67,930 · -7.9%
• By 2050: 63,191 · -14.4%
• By 2075: 53,644 · -27.3%
• By 2100: 40,882 · -44.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 30% Two or more races 29% Native American 4% Black 1%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Serbian 1% Russian 1% Slovak 1%
• Foreign-born: 8% · Canada
• Languages at home: 71% English-only · Spanish 27%

Political lean MEDSL · Valencia

• 2024 margin: R (+16.4) · D 40.9% · R 57.3% · Other 1.8%
• 2008→2024 swing: -24.1pp toward R · 2008: 7.7pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+9.6 2016: R+8.7 2012: D+2.5 2008: D+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.17%
• Current HPI: 201.0508
• Rent YoY: ▲ 33.16%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-05-20 Relisted — Southwest MLS
• 2026-04-22 Pending — Southwest MLS
• 2026-04-07 Listed $89,500 Southwest MLS