605 Doe Ln SE · Albuquerque, NM 87123

$165,000

4 bd · 2.0 ba · 1,805 sqft · Manufactured · 77 Days on market

Built 2022 Good condition 7,841 sqft lot $91/sqft · 35% above area Est $122k · 35% over

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Why this score? — see what drove the C 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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +7.2/10.0
• Schools +5.3/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This modern 2022 triplewide has four bedrooms, two full bathrooms and an open floor plan. The modern kitchen is spacious & has plenty of room for you to cook up your delights. The neighborhood is peaceful and has 24 hour security. The property is Located in the Four Hills mobile Home park near the foothills. Your can enjoy biking or walking on private streets, and other indoor and outdoor amenities and activities. Social activities are a highlight for residents, for seniors as well as families. And what a luxury to be able to drive up and park right next to your home under the carport avoiding the hassle of a community parking lot. So come live the peaceful life in this Beautiful Home.

Key facts

• 7,841 sq ft lot
• Parking
• Built 2022

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 $456 ($5k/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 9.6% 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 (-2.1%/yr); 202 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 38% of the median local income ($64k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

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: 1.22% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.86%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (median comp): $122,410
• List price: $165,000
• Delta: 34.79%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12325 Cougar Ln SE	0.26mi	3/2.0 (-1)	1,960 (+9%)	18mo	$105,000	$54	54

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-3,559
• Equity at exit: $24,602

10-year hold

• IRR: 4.0%
• Equity multiple: 1.25×
• Total profit: $11,567
• 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 87123

• Rents YoY: -2.1%
• Active inventory: 202
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,021 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $456

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 72%

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: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
328 Via Vista St SE Albuquerque, NM	3.0	2.0	1460	$2,075	$1.42	3d	1	0.43mi
419 Sawtooth St SE Albuquerque, NM	3.0	2.0	1785	$1,950	$1.09	3d	1	0.46mi
11606 Herman Roser Ave SE Albuquerque, NM	3.0	2.0	1820	$2,295	$1.26	43d	1	0.54mi
11208 Deer Lodge Pl SE Albuquerque, NM	3.0	2.0	1408	$1,950	$1.38	43d	1	0.54mi
12021 Skyline Rd NE Albuquerque, NM	1.0–3.0	1.0–2.0	875	$1,592	$1.82	3d	17	0.56mi
221 Shirley St NE Albuquerque, NM	3.0	1.5	1250	$1,750	$1.40	3d	1	0.64mi
11104 Vistazo Pl SE Albuquerque, NM	3.0	2.0	1353	$1,950	$1.44	23d	1	0.64mi
12028 Zanjero Rd SE Albuquerque, NM	3.0	2.5	2075	$2,200	$1.06	43d	1	0.68mi
829 Hackberry Trl SE Albuquerque, NM	3.0	2.0	1516	$1,950	$1.29	43d	1	0.72mi
1105 Tony Sanchez Dr SE Albuquerque, NM	3.0	2.0	1700	$1,975	$1.16	43d	1	0.75mi
12004 Zia Rd NE Albuquerque, NM	2.0–3.0	1.5–2.0	1323	$2,145	$1.62	3d	7	0.91mi
1668 Bull Lea Dr SE Albuquerque, NM	3.0	2.5	1609	$2,249	$1.40	23d	1	0.93mi
1667 Domino Dr SE Albuquerque, NM	3.0	2.5	1868	$2,250	$1.20	19d	1	0.93mi
13615 Shaffer Ct SE Albuquerque, NM	3.0	3.0	1341	$2,700	$2.01	3d	1	1.00mi
13412 Turquoise Ave NE Albuquerque, NM	3.0	2.0	1425	$1,900	$1.33	23d	1	1.16mi
10843 Fort Point Ln NE Albuquerque, NM	3.0	2.5	1768	$2,195	$1.24	23d	1	1.20mi
12509 Nambe Ave NE Albuquerque, NM	3.0	1.5	1272	$1,800	$1.42	23d	1	1.22mi
10404 Griffith Park Dr NE Albuquerque, NM	3.0	2.0	1287	$2,100	$1.63	3d	1	1.25mi
2008 Vernon Dr SE Albuquerque, NM	3.0	2.0	1509	$2,450	$1.62	23d	1	1.31mi

Listing history 15 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
   days on market $165,000 Active 67 DOM
9. 2026-06-07
   days on market $165,000 Active 66 DOM
10. 2026-06-05
    days on market $165,000 Active 63 DOM
11. 2026-06-03
    days on market $165,000 Active 62 DOM
12. 2026-06-02
    days on market $165,000 Active 61 DOM
13. 2026-06-01
    days on market $165,000 Active 60 DOM
14. 2026-05-31
    days on market $165,000 Active 59 DOM
15. 2026-01-17
    listed $180,000 Active 702-char remark

    Show marketing remark (702 chars)

    This modern 2022 triplewide has four bedrooms, two full bathrooms and an open floor plan. The modern kitchen is spacious & has plenty of room for you to cook up your delights. The neighborhood is peaceful and has 24 hour security. The property is Located in the Four Hills mobile Home park near the foothills. Your can enjoy biking or walking on private streets, and other indoor and outdoor amenities and activities. Social activities are a highlight for residents, for seniors as well as families. And what a luxury to be able to drive up and park right next to your home under the carport avoiding the hassle of a community parking lot. So come live the peaceful life in this Beautiful Home.

ⓘ 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 4/10 Moderate 3 d/yr ≥91°F today · 8 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,254
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,940
• − Management: −$1,940
• − Depreciation: −$4,800
• Taxable income: $3,031
• Est. tax owed @ 24.0%: −$727
• After-tax cash flow: $4,750/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 modern 2022 triplewide is in good condition with a good condition score of 75. It has a good rehab level of cosmetic and requires minor maintenance and repairs. The highest-ROI updates would be painting the exterior siding, updating the kitchen appliances, and replacing the carpet with hardwood flooring.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases value
• Both Update kitchen appliances — Modernizes kitchen and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases value ↑
• Both Update kitchen appliances — Modernizes kitchen and adds 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): 42,252
• Household income: $64,359
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 1657.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 44% White 40% Two or more races 18% Native American 6% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Italian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 71% English-only · Spanish 22% Vietnamese 2%

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: ▼ -231.76%
• Current HPI: 233.3553
• Rent YoY: ▼ -2.10%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-01-17 Listed $180,000 Southwest MLS