4713 Country Club Ln NW Unit D-4

Albuquerque, NM 87114

$210,000F

2 bd · 2.0 ba · 1,031 sqft · Built 1972 · Condo · Active · 368 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,678/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$350
• HOA: −$450
• Vac / Maint / Mgmt: −$352
• Net cashflow: $-575/mo
• Annual: $-6,904/yr
• Cap rate: 3.01%
• Cash-on-cash: -11.74%
• DSCR: 0.48
• 1% rule: 0.80%
• Cash to close: $58,800

Investor read

• This is a 2-bed/2.0-bath condo listed at $210k. Condition is rated good.
• At list price, monthly cash flow is $-575 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (39.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (20.1% below list).
• It's been on market 368 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (39.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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: Sierra Vista Elementary (448 students, 100% FRL); James Monroe Middle (689 students, 45% FRL); Cibola High (math 37% / reading 72%, grade C-, #34 of 110 statewide, top 31%, 1,762 students, 34% FRL) — zoned schools at 60% FRL track the district average.
• Watch-outs: HOA is 27% of rent.
• Market conditions: Rents soft (-2.5%/yr); 468 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals lingering (median 36d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 51% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• 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.
• Cap rate 3.0% vs local median 3.8% in Albuquerque — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 368 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?