605 Doe Ln SE · Albuquerque, NM 87123

$140,000

4 bd · 2.0 ba · 1,984 sqft · Manufactured · 33 Days on market

Manufactured home Built 2022 Good condition 4,000 sqft lot ↓ 15% since listing

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Appreciation +2.5/10.0
• Rent growth +2.0/5.0
• Manufactured-home adj. -5.1

Listing remarks

This modern 2022 large double-wide 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.

Key facts

• Refrigerated a/c
• Ample closet space
• Close access to i-40

Tags

• REFRIGERATED A/C
• PRIMARY BEDROOM SUITE
• AMPLE CLOSET SPACE
• CLOSE ACCESS TO I-40

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.8% 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: 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: Manzano Mesa Elementary (540 students, 100% FRL); Van Buren Middle (398 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 100% FRL vs 60% district-wide (40 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 soft (-2.1%/yr); 418 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 55d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• This rent runs 30% 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 $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.15% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.41%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $406,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12737 Tomlinson Dr SE	0.34mi	4/2.0	1,774 (-11%)	0mo	$275,000	$155	66
728 Stagecoach Rd SE	1.06mi	3/2.0 (-1)	1,980 (-0%)	1mo	$475,000	$240	59
11601 Medicine Bow Pl SE	0.37mi	4/2.0	1,552 (-22%)	1mo	$360,000	$232	57
10905 Central Park Dr NE	1.08mi	3/2.0 (-1)	2,048 (+3%)	1mo	$420,000	$205	54
13208 Calle Azul SE	0.96mi	3/2.0 (-1)	1,849 (-7%)	0mo	$359,000	$194	48
11705 Blue Ribbon Rd SE	1.31mi	3/2.0 (-1)	1,748 (-12%)	1mo	$399,900	$229	40
657 Grace St NE	1.28mi	4/2.5	1,500 (-24%)	0mo	$299,000	$199	38
13800 Paseo Vis NE	1.17mi	3/2.0 (-1)	1,601 (-19%)	0mo	$350,000	$219	35
2016 Desert Orchid Dr SE	1.37mi	3/2.0 (-1)	2,364 (+19%)	1mo	$475,000	$201	34
1648 Domino Dr SE	0.90mi	3/2.5 (-1)	1,676 (-16%)	0mo	$295,000	$176	33
11828 Cicada Rd SE	0.87mi	3/2.5 (-1)	1,652 (-17%)	1mo	$310,000	$188	32
700 Winterwood Pl SE	1.10mi	3/2.5 (-1)	2,317 (+17%)	1mo	$699,000	$302	32

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: -5.5%
• Equity multiple: 0.80×
• Total profit: $-7,817
• Equity at exit: $20,874

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $219
• Equity at exit: $12,105

Cash invested: $39,200 (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 →

Active competition Active MLS

• For sale now: 2 active · 1 under contract
• Median asking: $142,000 ($80/sqft)
• Median days on market: 61 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: +154.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 87123

• Rents YoY: -2.1%
• Active inventory: 418
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,614 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $307

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 76%

Sensitivity live

Price	-10% $404	-5% $356	+0% $307	+5% $259	+10% $211
Rent	-10% $180	-5% $244	+0% $307	+5% $371	+10% $435
Rate	-1.0pp $378	-0.5pp $343	base $307	+0.5pp $271	+1.0pp $234

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: $35,000
• Closing costs: $4,200
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 Tassy Ct SE Albuquerque, NM	3.0	2.0	1352	$1,995	$1.48	41d	1	0.23mi
704 Glacier Bay St SE Albuquerque, NM	3.0	2.0	1444	$2,000	$1.39	10d	1	0.31mi
11704 Medicine Bow Pl SE Albuquerque, NM	4.0	2.0	1560	$2,300	$1.47	10d	1	0.34mi
11600 Singing Arrow Rd SE Albuquerque, NM	3.0	2.0	1400	$1,995	$1.43	2d	1	0.36mi
11601 Medicine Bow Pl SE Albuquerque, NM	4.0	2.0	1552	$2,400	$1.55	10d	1	0.37mi
531 Manistee St SE Albuquerque, NM	3.0	2.0	1704	$2,300	$1.35	119d	1	0.37mi
815 Glacier Bay St SE Albuquerque, NM	3.0	2.0	1760	$2,100	$1.19	52d	1	0.42mi
328 Via Vista St SE Albuquerque, NM	3.0	2.0	1460	$2,075	$1.42	143d	1	0.43mi
419 Sawtooth St SE Albuquerque, NM	3.0	2.0	1785	$1,950	$1.09	144d	1	0.46mi
1000 Glacier Bay St SE Albuquerque, NM	3.0	2.5	1727	$2,200	$1.27	10d	1	0.50mi
328 Escena St SE Albuquerque, NM	3.0	2.0	1300	$1,695	$1.30	55d	1	0.52mi
11606 Herman Roser Ave SE Albuquerque, NM	3.0	2.0	1820	$2,295	$1.26	184d	1	0.54mi
11208 Deer Lodge Pl SE Albuquerque, NM	3.0	2.0	1408	$1,950	$1.38	138d	1	0.54mi
11220 Vistazo Pl SE Albuquerque, NM	3.0	2.0	1353	$1,950	$1.44	138d	1	0.57mi
915 Tony Sanchez Dr SE Albuquerque, NM	4.0	3.5	1880	$2,275	$1.21	130d	1	0.61mi
915 Tony Sanchez Dr SE Albuquerque, NM	3.0	2.0	1880	$2,275	$1.21	133d	1	0.61mi
11223 Canyonlands Rd SE Albuquerque, NM	4.0	2.5	2450	$2,200	$0.90	9d	1	0.62mi
515 Deschutes St SE Albuquerque, NM	3.0	2.0	1752	$2,300	$1.31	10d	1	0.63mi
515 Deschutes St SE Albuquerque, NM	3.0	2.0	1752	$2,400	$1.37	49d	1	0.63mi
221 Shirley St NE Albuquerque, NM	3.0	1.5	1250	$1,750	$1.40	144d	1	0.64mi
11104 Vistazo Pl SE Albuquerque, NM	3.0	2.0	1353	$1,950	$1.44	164d	1	0.64mi
11512 Jewel Cave Rd SE Albuquerque, NM	3.0	2.0	1873	$2,295	$1.23	55d	1	0.66mi
12028 Zanjero Rd SE Albuquerque, NM	3.0	2.5	2075	$2,200	$1.06	184d	1	0.68mi
829 Hackberry Trl SE Albuquerque, NM	3.0	2.0	1516	$1,950	$1.29	184d	1	0.72mi
1105 Tony Sanchez Dr SE Albuquerque, NM	3.0	2.0	1700	$1,975	$1.16	184d	1	0.75mi
1523 Borrego Dr SE Albuquerque, NM	4.0	3.0	1959	$2,250	$1.15	10d	1	0.79mi
1528 Domino Dr SE Albuquerque, NM	3.0	2.5	1600	$2,300	$1.44	108d	1	0.80mi
1528 Domino Dr SE Albuquerque, NM	3.0	2.5	1594	$2,000	$1.25	46d	1	0.80mi
10935 Jicama Way SE Albuquerque, NM	3.0	2.5	1340	$1,900	$1.42	133d	1	0.81mi
10920 Tomatillo Ln SE Albuquerque, NM	3.0	2.5	1435	$2,100	$1.46	10d	1	0.81mi
12813 Turquoise Ave NE Albuquerque, NM	3.0	2.0	1343	$2,800	$2.08	10d	1	0.84mi
647 Granite Point Trl SE Albuquerque, NM	3.0	2.0	1648	$2,250	$1.37	10d	1	0.84mi
1504 Barbaro Dr SE Albuquerque, NM	3.0	3.0	2017	$2,350	$1.17	46d	1	0.86mi
1616 Volponi Dr SE Albuquerque, NM	3.0	2.5	1642	$2,300	$1.40	55d	1	0.87mi
1651 Domino Dr SE Albuquerque, NM	4.0	3.0	1946	$2,500	$1.28	108d	1	0.91mi
1668 Bull Lea Dr SE Albuquerque, NM	3.0	2.5	1609	$2,249	$1.40	164d	1	0.93mi
1667 Domino Dr SE Albuquerque, NM	3.0	2.5	1868	$2,250	$1.20	160d	1	0.93mi
13124 Calle Azul SE Albuquerque, NM	3.0	2.0	1966	$2,400	$1.22	46d	1	0.94mi
11028 Griffith Park Dr NE Albuquerque, NM	3.0	2.5	2240	$2,295	$1.02	7d	1	0.95mi
10700 Habanero Way SE Albuquerque, NM	3.0	2.5	1250	$1,900	$1.52	110d	1	0.96mi

Property features AI

Finance

• HOA & community: Monthly land lease

Exterior

• Parking: 2-car carport
• Utilities: Electricity, natural gas, public sewer, and public water connected
• Home design: One storySoutheast-facingDouble-wide manufactured home
• Construction: Pitched shingle roofBuilt by SOLITARE; DW Presidio model
• Exterior features: Deck, covered patioShedGateLandscaped with a few trees

Interior

• Kitchen: Dishwasher, free-standing gas range, microwave, refrigeratorBreakfast bar
• Flooring: Carpet, vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central forced-air natural gas heatingRefrigerated cooling
• Interior features: Double-pane, insulated windows
• Laundry & utility: Washer hookup, electric and gas dryer hookups

Listing history 50 events

1. 2026-11-08
   days on market $140,000 Active 33 DOM
2. 2026-11-07
   days on market $140,000 Active 32 DOM
3. 2026-11-06
   days on market $140,000 Active 31 DOM
4. 2026-11-05
   days on market $140,000 Active 30 DOM
5. 2026-11-04
   days on market $140,000 Active 29 DOM
6. 2026-11-02
   days on market $140,000 Active 27 DOM
7. 2026-11-01
   days on market $140,000 Active 26 DOM
8. 2026-10-31
   days on market $140,000 Active 25 DOM
9. 2026-10-30
   days on market $140,000 Active 24 DOM
10. 2026-10-29
    days on market $140,000 Active 23 DOM
11. 2026-10-28
    days on market $140,000 Active 22 DOM
12. 2026-10-27
    days on market $140,000 Active 21 DOM
13. 2026-10-26
    days on market $140,000 Active 20 DOM
14. 2026-10-26
    days on market $140,000 Active 19 DOM
15. 2026-10-24
    days on market $140,000 Active 18 DOM
16. 2026-10-23
    days on market $140,000 Active 17 DOM
17. 2026-10-22
    days on market $140,000 Active 16 DOM
18. 2026-10-21
    days on market $140,000 Active 15 DOM
19. 2026-10-20
    days on market $140,000 Active 14 DOM
20. 2026-10-19
    days on market $140,000 Active 13 DOM
21. 2026-10-18
    days on market $140,000 Active 12 DOM
22. 2026-10-17
    days on market $140,000 Active 11 DOM
23. 2026-10-16
    days on market $140,000 Active 10 DOM
24. 2026-10-15
    days on market $140,000 Active 9 DOM
25. 2026-10-14
    days on market $140,000 Active 8 DOM
26. 2026-10-13
    days on market $140,000 Active 7 DOM
27. 2026-10-12
    days on market $140,000 Active 6 DOM
28. 2026-10-11
    days on market $140,000 Active 5 DOM
29. 2026-10-10
    days on market $140,000 Active 4 DOM
30. 2026-10-09
    days on market $140,000 Active 3 DOM
31. 2026-10-08
    days on market $140,000 Active 2 DOM
32. 2026-10-07
    pricedays on marketlisting id $140,000 Active 1 DOM
33. 2026-09-30
    days on market $160,000 Active 181 DOM
34. 2026-09-29
    days on market $160,000 Active 180 DOM
35. 2026-09-28
    days on market $160,000 Active 179 DOM
36. 2026-09-27
    days on market $160,000 Active 178 DOM
37. 2026-09-25
    days on market $160,000 Active 176 DOM
38. 2026-09-24
    days on market $160,000 Active 175 DOM
39. 2026-09-23
    days on market $160,000 Active 174 DOM
40. 2026-09-22
    days on market $160,000 Active 173 DOM
41. 2026-09-21
    days on market $160,000 Active 172 DOM
42. 2026-09-20
    days on market $160,000 Active 171 DOM
43. 2026-09-19
    days on market $160,000 Active 170 DOM
44. 2026-09-18
    days on market $160,000 Active 169 DOM
45. 2026-09-17
    days on market $160,000 Active 168 DOM
46. 2026-09-16
    days on market $160,000 Active 167 DOM
47. 2026-09-15
    days on market $160,000 Active 166 DOM
48. 2026-09-14
    days on market $160,000 Active 165 DOM
49. 2026-09-13
    days on market $160,000 Active 164 DOM
50. 2026-09-12
    days on market $160,000 Active 163 DOM

ⓘ 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: $19,365
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,549
• − Management: −$1,549
• − Depreciation: −$4,073
• Taxable income: $1,551
• Est. tax owed @ 24.0%: −$372
• After-tax cash flow: $3,316/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 $9,920–$29,760 screening

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 ↑

ⓘ 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 Manzano Mesa Elementary Middle Van Buren 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): 42,252
• Household income: $64,359
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 13% 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 44% White 40% Two or more races 18% Native American 6% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 28%
• Languages at home: 71% English-only · Spanish 22% Vietnamese 2%

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

Property features AI

Finance

• HOA & community: Monthly land lease

Exterior

• Parking: 2-car carport
• Utilities: Electricity, natural gas, public sewer, and public water connected
• Home design: One storySoutheast-facingDouble-wide manufactured home
• Construction: Pitched shingle roofBuilt by SOLITARE; DW Presidio model
• Exterior features: Deck, covered patioShedGateLandscaped with a few trees

Interior

• Kitchen: Dishwasher, free-standing gas range, microwave, refrigeratorBreakfast bar
• Flooring: Carpet, vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central forced-air natural gas heatingRefrigerated cooling
• Interior features: Double-pane, insulated windows
• Laundry & utility: Washer hookup, electric and gas dryer hookups

Price history

-15.2% since first listed

3 events — show timeline

• 2026-10-05 Listed $140,000 Southwest MLS
• 2026-09-01 Price Changed $160,000 Southwest MLS
• 2026-05-29 Price Changed $165,000 Southwest MLS