217 Bethel Dr SE · Albuquerque, NM 87102

$85,000

3 bd · 2.0 ba · 1,614 sqft · Other public records · 5 Days on market

Built 1955 9,060 sqft lot

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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
• Schools +5.3/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Sellers are reviewing existing offers. No other showings or offers will be accepted. Attention Investors & Flippers: Ultimate Sweat Equity Project!Calling all builders, flippers, and portfolio-builders! This 3-bed, 2-bath property is priced to sell and represents a prime investor opportunity right here in Albuquerque. If you are looking for a true ''value-add'' project with excellent return-on-investment potential, this is the one. The home needs significant work and updates throughout, making it the perfect candidate for a full renovation or a buy-and-hold strategy. Capitalize on the strong rental market or flip for a profit. Being sold strictly AS-IS. Cash preferred due to condition

Key facts

• 9,060 sq ft lot
• Built 1955
• Listed 5 days

Property features AI

Exterior

• Utilities: Electricity connected; Natural gas available; Public water; Public sewer; Cable available; Sewer connected; Water connected
• Home design: Single-story home; Faces south; Resale property
• Construction: Frame and stucco construction; Pitched shingle roof; Built by unknown builder
• Exterior features: Private yard; Shed(s); Landscaped lot

Interior

• Kitchen: Built-in electric range; Double oven; Refrigerator
• Bedrooms: Primary bedroom on main level
• Flooring: Carpet
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Electric baseboard heating; Evaporative cooling
• Interior features: Separate/formal dining room; Main-level primary bedroom; Cable TV available; Double-pane insulated windows
• Laundry & utility: Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 16.3% vs local median 3.6% 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: East San Jose Elementary (333 students, 100% FRL); Washington Middle (275 students, 100% FRL); Albuquerque High (math 52% / reading 77%, grade B-, #22 of 110 statewide, top 22%, 1,714 students, 45% FRL) — zoned schools average 82% FRL vs 60% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 149 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $1,655/mo this rent would consume 46% 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 $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.95% ✓
• Cap rate: 16.25%
• Cash-on-cash: 35.57%
• DSCR: 2.58
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.92% rent growth · sell at horizon

5-year hold

• IRR: 33.4%
• Equity multiple: 2.45×
• Total profit: $34,452
• Equity at exit: $12,674

10-year hold

• IRR: 41.4%
• Equity multiple: 5.28×
• Total profit: $101,905
• Equity at exit: $7,349

Cash invested: $23,800 (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: 149
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,655 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$121 /mo · $1,453/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $705

Break-even live

Break-even rent $762

Max offer price $85,000

Occupancy floor 52%

Sensitivity live

Price	-10% $754	-5% $730	+0% $705	+5% $681	+10% $657
Rent	-10% $575	-5% $640	+0% $705	+5% $771	+10% $836
Rate	-1.0pp $748	-0.5pp $727	base $705	+0.5pp $683	+1.0pp $661

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2101 Elm St SE Apt A Albuquerque, NM	3.0	1.5	1200	$1,450	$1.21	45d	1	0.85mi
3003 Transport St SE Albuquerque, NM	5.0	1.0–5.0	1083	$1,780	$1.64	45d	4	0.90mi
1612 3rd St SW Albuquerque, NM	3.0	2.5	1750	$2,150	$1.23	16d	1	1.13mi

Listing history 2 events

1. 2026-05-12
   listed $85,000 Active
2. 2010-12-28
   soldstatus

ⓘ 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: $1,453 · $121/mo
• Projected year-2 tax: $1,453 · $121/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,864
• − Mortgage interest: −$4,761
• − Property taxes: −$1,453
• − Insurance: −$425
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$2,473
• Taxable income: $7,574
• Est. tax owed @ 24.0%: −$1,818
• After-tax cash flow: $6,648/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

2 events — show timeline

• 2026-05-12 Listed $85,000 Southwest MLS
• 2010-12-28 Sold (Public Records) — Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,453 · +3.1% YoY. Source: county tax records.