11621 Wild Horse Trl SE · Albuquerque, NM 87123

$84,900

3 bd · 2.0 ba · 896 sqft · Manufactured · 12 Days on market

Built 2021 Good condition $95/sqft · 25% below area Est $114k · 25% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Super clean and well maintained 3 bed 2 bath home on a corner lot in the quiet neighborhood of Four Hills Mobile Home Park. Wood laminate flooring, stainless steel appliances. Amenities include 3 pools, 4 playgrounds, community center, clubhouse, tennis and basketball courts. IPS security patrol. Potential BUYERS MUST APPLY AND BE APPROVED with village management prior to purchase. Lot rent is $645/monthly. Home is not on permanent foundation, it is considered chattel. Cash or special financing is required, contact listing broker. Lot rent subject to change per village management

Key facts

• 4 playgrounds
• Quiet neighborhood
• 3 pools

Tags

• CORNER LOT
• QUIET NEIGHBORHOOD
• WOOD LAMINATE FLOORING
• STAINLESS STEEL APPLIANCES
• 3 POOLS
• 4 PLAYGROUNDS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 13.3% 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $84,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.62% ✓
• Cap rate: 13.34%
• Cash-on-cash: 25.16%
• DSCR: 2.12
• GRM: 5.2

CMA / ARV

• ARV (median comp): $113,614
• List price: $84,900
• Delta: -25.19%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.59×
• Total profit: $13,978
• Equity at exit: $12,659

10-year hold

• IRR: 21.6%
• Equity multiple: 2.58×
• Total profit: $37,570
• Equity at exit: $7,341

Cash invested: $23,772 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,374 high
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,274/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $498

Break-even live

Break-even rent $743

Max offer price $84,900

Occupancy floor 59%

Sensitivity live

Price	-10% $557	-5% $528	+0% $498	+5% $469	+10% $440
Rent	-10% $390	-5% $444	+0% $498	+5% $553	+10% $607
Rate	-1.0pp $541	-0.5pp $520	base $498	+0.5pp $476	+1.0pp $454

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 Stephen Moody St SE Albuquerque, NM	1.0–2.0	1.0–2.0	814	$1,715	$2.11	4d	10	0.84mi
301 Western Skies Dr SE Albuquerque, NM	1.0–3.0	1.0–2.0	806	$1,511	$1.87	4d	17	0.96mi
408 Rainbow Ct SE Albuquerque, NM	2.0	1.0	950	$1,200	$1.26	24d	1	0.99mi
12736 Singing Arrow Ave SE Unit C Albuquerque, NM	2.0	1.0	800	$950	$1.19	24d	1	1.00mi
221 Hanosh Ct SE Albuquerque, NM	2.0	1.0	700	$800	$1.14	44d	1	1.01mi
521 Nathan St SE Albuquerque, NM	3.0	2.0	1060	$1,895	$1.79	20d	1	1.01mi
225 Hanosh Ct SE Apt 3 Albuquerque, NM	2.0	1.0	650	$1,200	$1.85	4d	1	1.02mi
405 Dorado Ct SE Unit D Albuquerque, NM	2.0	1.0	800	$900	$1.12	44d	1	1.02mi
405 Dorado Ct SE Albuquerque, NM	2.0	1.0	800	$1,000	$1.25	45d	1	1.02mi
309 Whispering Sands Ct SE Unit 3 Albuquerque, NM	2.0	1.0	825	$1,200	$1.45	24d	1	1.02mi
200 Figueroa St NE Albuquerque, NM	1.0–2.0	1.0	734	$1,207	$1.64	4d	10	1.25mi
13150 Wenonah Ave SE Albuquerque, NM	1.0–2.0	1.0–2.0	789	$1,633	$2.07	4d	16	1.30mi
12021 Skyline Rd NE Albuquerque, NM	1.0–3.0	1.0–2.0	875	$1,592	$1.82	4d	17	1.31mi
517 Ida Pl NE Albuquerque, NM	3.0	1.5	1058	$2,000	$1.89	22d	1	1.44mi

Listing history 4 events

1. 2026-06-03
   days on market $84,900 Active 12 DOM
2. 2026-06-02
   days on market $84,900 Active 11 DOM
3. 2026-06-01
   days on market $84,900 Active 10 DOM
4. 2026-05-31
   days on market $84,900 Active 9 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 3 d/yr ≥94°F today · 7 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: $16,482
• − Mortgage interest: −$4,756
• − Property taxes: −$1,274
• − Insurance: −$424
• − Repairs & maintenance: −$1,319
• − Management: −$1,319
• − Depreciation: −$2,470
• Taxable income: $4,921
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $4,799/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 80/100 Cosmetic rehab

This mobile home is in good condition with cosmetic updates needed to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace window seals — Improves energy efficiency and appearance
• Both Replace flooring — Freshens the interior and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace window seals — Improves energy efficiency and appearance ↑
• Both Replace flooring — Freshens the interior 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