Rosemary Plan · Albuquerque, NM 87106

$429,990

4 bd · 2.0 ba · 1,880 sqft · SingleFamily · 226 Days on market

Good condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Cash flow +5.7/30.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• 1% rule +1.1/10.0
• DSCR +0.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Montage at Mesa Del Sol, an exceptional new community by D. R. Horton. Perfectly situated on the east side Albuquerque, New Mexico, Montage offers an array of desirable amenities providing residents with an elevated, urban living experience. D. R. Horton, America's Number One Homebuilder, ensures that each home in Montage Unit 5 at Mesa Del Sol is crafted with quality and attention to detail. Offering a variety of one and two-story floor plans with 3-4 bedrooms and modern designs to choose from, residents can find their perfect dream home that suits their unique lifestyle. As part of the growing master-planned community of Mesa Del Sol, Montage residents will have access to a range of amenities and services, including a community pool, beautifully landscaped parks and walking trails, and a lifestyle and fitness center. Conveniently located with easy access to both I-40 and I-25, this community ensures effortless commuting and travel for its residents. Whether you're heading to work or exploring the beauty of New Mexico, the major highways are just moments away. Montage is also just minutes from prominent employers such as Sandia National Labs, Kirtland Airforce Base, and Netflix, making it an ideal community for professionals seeking a convenient commute and a perfect work-life balance.

Key facts

• Easy access to i-40
• Community pool
• Landscaped parks

Tags

• COMMUNITY POOL
• LANDSCAPED PARKS
• WALKING TRAILS
• LIFESTYLE AND FITNESS CENTER
• EASY ACCESS TO I-40
• EASY ACCESS TO I-25

🏗️ New construction. The $429,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $461,927.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $430k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-953 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $324k (24.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (34.1% below list).
• Recommended offer: $283k (34.1% below list) — sets the bar for 1% rule.

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: Bandelier Elementary (453 students, 34% FRL); Jefferson Middle (644 students, 46% FRL); Albuquerque High (math 52% / reading 77%, grade B-, #22 of 110 statewide, top 22%, 1,714 students, 45% FRL) — zoned schools average 42% FRL vs 60% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 296 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• At $2,835/mo this rent would consume 68% of the median local household income ($50k/yr) — 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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 226 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.

Recommended offer $283,497 (34.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 226 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.61% ✗
• Cap rate: 3.82%
• Cash-on-cash: -8.84%
• DSCR: 0.61
• GRM: 13.6

CMA / ARV

• ARV (median comp): $461,927
• List price: $429,990
• Delta: -6.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6003 Gilpin Dr SE	0.06mi	3/2.0 (-1)	1,970 (+5%)	3mo	$475,995	$242	82
6078 Hardin Dr SE	0.23mi	3/2.0 (-1)	1,812 (-4%)	3mo	$450,000	$248	76
6044 Gilpin Dr SE	0.07mi	4/2.5	2,079 (+11%)	2mo	$449,990	$216	76
2209 De Kooning Ave SE	0.12mi	3/2.0 (-1)	1,704 (-9%)	2mo	$474,900	$279	72
1944 Gorman Ave SE	0.20mi	3/3.0 (-1)	1,787 (-5%)	3mo	$424,990	$238	71
6016 Chicago Rd SE	0.09mi	3/2.0 (-1)	2,105 (+12%)	3mo	$505,995	$240	69
6053 Nauman Dr SE	0.26mi	4/2.0	2,104 (+12%)	3mo	$455,000	$216	66
2428 De Kooning Ave SE	0.27mi	3/2.5 (-1)	2,046 (+9%)	0mo	$490,224	$240	66
6037 Nauman Dr SE	0.24mi	4/2.0	2,140 (+14%)	3mo	$425,000	$199	63
6104 Chicago Dr SE	0.21mi	3/2.0 (-1)	1,628 (-13%)	1mo	$384,990	$236	62
6025 Strand Loop SE	0.29mi	3/2.0 (-1)	1,630 (-13%)	1mo	$370,000	$227	59
5601 Addis Dr SE	0.31mi	3/2.5 (-1)	2,147 (+14%)	2mo	$416,500	$194	53

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 · 0.5% rent growth · sell at horizon

5-year hold

• IRR: -34.7%
• Equity multiple: -0.10×
• Total profit: $-142,442
• Equity at exit: $68,875

10-year hold

• IRR: -63.7%
• Equity multiple: -0.77×
• Total profit: $-229,146
• Equity at exit: $39,939

Cash invested: $129,340 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 44 active · 28 under contract
• Months of supply: 9.4 mo (11%/mo absorbed)
• Median asking: $439,450 ($242/sqft)
• Median days on market: 133 d
• This list price: 43% of active listings are priced below it
• ARV vs active asking: +1.7% vs current asking $/sqft

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

ZIP-level market 87106

• Rents YoY: 0.5%
• Active inventory: 296
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,835 high
• Mortgage (P&I): −$2,422
• Tax est. 1.5%: −$577 /mo · $6,929/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $-953

Break-even live

Break-even rent $4,041

Max offer price $324,077

Occupancy floor —

Sensitivity live

Price	-10% $-633	-5% $-793	+0% $-953	+5% $-1,112	+10% $-1,272
Rent	-10% $-1,177	-5% $-1,065	+0% $-953	+5% $-841	+10% $-729
Rate	-1.0pp $-720	-0.5pp $-835	base $-953	+0.5pp $-1,072	+1.0pp $-1,194

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: $115,482
• Closing costs: $13,858
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1905 Pena Ave SE Albuquerque, NM	3.0	2.0	1433	$2,700	$1.88	107d	1	0.07mi
1913 Pena Ave SE Albuquerque, NM	4.0	2.0	1707	$2,950	$1.73	107d	1	0.08mi
1901 Pena Ave SE Albuquerque, NM	3.0	2.0	1701	$2,800	$1.65	10d	1	0.11mi
6118 Chicago Dr SE Albuquerque, NM	3.0	3.0	1850	$2,350	$1.27	0d	1	0.23mi
6057 Nauman Dr SE Albuquerque, NM	4.0	2.0	2114	$4,600	$2.18	0d	1	0.28mi
2327 Stieglitz Ave SE Albuquerque, NM	3.0	2.5	2411	$5,000	$2.07	0d	1	0.33mi
5608 Arbus Dr SE Albuquerque, NM	3.0	2.0	1402	$2,200	$1.57	117d	1	0.42mi
6119 Motherwell Dr SE Albuquerque, NM	3.0	2.5	2080	$2,250	$1.08	85d	1	0.42mi
2605 Stryker Rd SE Albuquerque, NM	3.0	2.5	2380	$2,525	$1.06	0d	1	0.48mi
5735 University Blvd SE Albuquerque, NM	3.0	2.0	2045	$4,500	$2.20	0d	1	0.53mi
2639 Stryker Rd SE Albuquerque, NM	3.0	2.5	2395	$3,200	$1.34	0d	1	0.55mi

Listing history 50 events

1. 2026-09-24
   days on market $429,990 Active 226 DOM
2. 2026-09-23
   days on market $429,990 Active 225 DOM
3. 2026-09-22
   days on market $429,990 Active 224 DOM
4. 2026-09-21
   days on market $429,990 Active 223 DOM
5. 2026-09-20
   days on market $429,990 Active 222 DOM
6. 2026-09-19
   days on market $429,990 Active 221 DOM
7. 2026-09-18
   days on market $429,990 Active 220 DOM
8. 2026-09-17
   days on market $429,990 Active 219 DOM
9. 2026-09-16
   days on market $429,990 Active 218 DOM
10. 2026-09-15
    days on market $429,990 Active 217 DOM
11. 2026-09-14
    days on market $429,990 Active 216 DOM
12. 2026-09-13
    days on market $429,990 Active 215 DOM
13. 2026-09-12
    days on market $429,990 Active 214 DOM
14. 2026-09-11
    days on market $429,990 Active 213 DOM
15. 2026-09-05
    days on market $429,990 Active 207 DOM
16. 2026-09-04
    days on market $429,990 Active 206 DOM
17. 2026-09-03
    days on market $429,990 Active 205 DOM
18. 2026-08-31
    days on market $429,990 Active 202 DOM
19. 2026-08-30
    days on market $429,990 Active 201 DOM
20. 2026-08-29
    days on market $429,990 Active 200 DOM
21. 2026-08-28
    days on market $429,990 Active 199 DOM
22. 2026-08-27
    days on market $429,990 Active 198 DOM
23. 2026-08-26
    days on market $429,990 Active 197 DOM
24. 2026-08-25
    days on market $429,990 Active 196 DOM
25. 2026-08-24
    days on market $429,990 Active 195 DOM
26. 2026-08-23
    days on market $429,990 Active 194 DOM
27. 2026-08-22
    days on market $429,990 Active 193 DOM
28. 2026-08-21
    days on market $429,990 Active 192 DOM
29. 2026-08-20
    days on market $429,990 Active 191 DOM
30. 2026-08-19
    days on market $429,990 Active 190 DOM
31. 2026-08-18
    days on market $429,990 Active 189 DOM
32. 2026-08-17
    days on market $429,990 Active 188 DOM
33. 2026-08-16
    days on market $429,990 Active 187 DOM
34. 2026-08-15
    days on market $429,990 Active 186 DOM
35. 2026-08-14
    days on market $429,990 Active 185 DOM
36. 2026-08-13
    days on market $429,990 Active 184 DOM
37. 2026-08-12
    days on market $429,990 Active 183 DOM
38. 2026-08-11
    days on market $429,990 Active 182 DOM
39. 2026-08-10
    days on market $429,990 Active 181 DOM
40. 2026-08-08
    days on market $429,990 Active 179 DOM
41. 2026-08-07
    days on market $429,990 Active 178 DOM
42. 2026-08-06
    days on market $429,990 Active 177 DOM
43. 2026-08-05
    days on market $429,990 Active 176 DOM
44. 2026-08-04
    days on market $429,990 Active 175 DOM
45. 2026-08-03
    days on market $429,990 Active 174 DOM
46. 2026-08-01
    days on market $429,990 Active 171 DOM
47. 2026-07-30
    days on market $429,990 Active 170 DOM
48. 2026-07-30
    days on market $429,990 Active 169 DOM
49. 2026-07-28
    days on market $429,990 Active 168 DOM
50. 2026-07-26
    days on market $429,990 Active 166 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,020
• − Mortgage interest: −$25,875
• − Property taxes: −$6,929
• − Insurance: −$2,310
• − Repairs & maintenance: −$2,722
• − Management: −$2,722
• − Depreciation: −$13,438
• Taxable loss: −$19,975
• Est. tax savings @ 24.0%: +$4,794
• After-tax cash flow: $-6,638/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 None rehab

This home is in excellent condition with modern updates and a well-maintained exterior. It is move-in ready and would benefit from some minor updates to further enhance its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Resale Kitchen appliances — Upgraded appliances can increase the home's appeal to potential buyers. ↑
• Resale Bathroom fixtures — Modern fixtures can enhance the home's appeal to potential buyers. ↑
• Resale Flooring — Updated flooring can enhance the home's appeal to potential buyers. ↑
• Both HVAC system — A well-maintained HVAC system can improve comfort and energy efficiency, attracting both buyers and tenants. ↑
• Both Landscaping and curb appeal — A well-maintained landscape can enhance curb appeal and attract potential buyers/tenants. ↑

C Composite school gradezoned avg 64/100

Zoned Schools

Elementary Bandelier Elementary Middle Jefferson Middle High Albuquerque High B- NM #22/110 Nat'l #2,821/17,239

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): 26,953
• Household income: $49,781
• Rent vs Own: 61.5% rent · 38.5% own
• Severe rent burden: 12% 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: White 46% Hispanic / Latino 39% Two or more races 16% Native American 5% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 77% English-only · Spanish 15% Other Indo-European 1% Vietnamese 1%

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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: ▼ -420.04%
• Current HPI: 245.4275
• Rent YoY: ▲ 0.50%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-02-10 Listed $429,990 Zillow