2740 Katrina Dr SW · Albuquerque, NM 87121

$165,000

2 bd · 1.0 ba · 644 sqft · Manufactured public records · 12 Days on market

Built 1986 4,617 sqft lot

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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 +21.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Schools +5.3/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Compact in size but efficient in layout, this 2-bedroom, 1-bath home offers just over 600 sq. ft. designed for practical living. The open kitchen includes a refrigerator and flows into a large living area that maximizes usable space. The master bathroom features an updated vanity and step-in shower, providing a refreshed, functional finish. A washer and dryer are included. Outside, the property expands with a large backyard enclosed by a block wall with a storage shed for additional needs. The home offers a 1-car garage with opener. Located just a 6-minute drive from a major shopping center featuring Walmart Supercenter, Hobby Lobby, and multiple dining options. * Request the property vide

Key facts

• 4,617 sq ft lot
• Garage
• Built 1986

Property features AI

Exterior

• Parking: Attached garage; 1 garage space
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-story; Faces southwest; Resale property; Mobile home model 945 (46' x 13')
• Construction: Pitched shingle roof; Builder model 945
• Exterior features: Private yard; Shed(s); Wall fencing; Paved city street frontage

Interior

• Kitchen: Refrigerator; Range hood
• Bedrooms: Bedroom 2 on the main level; Additional bedroom on the main level
• Flooring: Carpet; Laminate
• Bathrooms: One three-quarter bathroom; Separate shower (no tub mentioned)
• Heating & cooling: Central heating (natural gas); Evaporative cooling
• Interior features: Ceiling fans; Main level primary; Separate shower (shower only); Sliding windows
• Laundry & utility: Washer; Dryer; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (7.0% below list).
• Recommended offer: $153k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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: Coronado Elementary (308 students, 30% FRL); Harrison Middle (343 students, 100% FRL); Rio Grande High (math 5% / reading 24%, grade F, #107 of 110 statewide, top 97%, 1,532 students, 100% FRL) — zoned schools average 77% FRL vs 60% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 63% district-wide (-48 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 (-1.9%/yr); 268 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• This rent runs 30% of the median local income ($61k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

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

Risks & watch-outs

• 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 $153,415 (7.0% below list)

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: 0.93% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.18%
• DSCR: 1.27
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.8%
• Equity multiple: 0.65×
• Total profit: $-16,158
• Equity at exit: $24,602

10-year hold

• IRR: -4.6%
• Equity multiple: 0.73×
• Total profit: $-12,254
• Equity at exit: $14,266

Cash invested: $46,200 (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 →

ZIP-level market 87121

• Home prices YoY: -19.4%
• Rents YoY: -1.9%
• Active inventory: 268
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,534 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$40 /mo · $480/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $238

Break-even live

Break-even rent $1,233

Max offer price $165,000

Occupancy floor 79%

Sensitivity live

Price	-10% $331	-5% $285	+0% $238	+5% $191	+10% $145
Rent	-10% $117	-5% $177	+0% $238	+5% $299	+10% $359
Rate	-1.0pp $321	-0.5pp $280	base $238	+0.5pp $195	+1.0pp $152

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2300 Diamond Mesa Trl SW Albuquerque, NM	1.0–4.0	1.0–2.5	1176	$2,004	$1.70	5d	26	0.74mi
3800 Flora Vista Ave SW Apt 1 Albuquerque, NM	1.0	1.0	650	$995	$1.53	45d	1	0.84mi

Listing history 2 events

1. 2026-05-06
   status Pending 727-char remark
2. 2026-04-24
   listed $165,000 Active 727-char remark

ⓘ 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: $480 · $40/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: +$840/yr (+$70/mo · 174.9%)

ⓘ 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 (unshaded) · 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,410
• − Mortgage interest: −$9,243
• − Property taxes: −$480
• − Insurance: −$825
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$4,800
• Taxable income: $116
• Est. tax owed @ 24.0%: −$28
• After-tax cash flow: $2,827/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): 75,510
• Household income: $60,796
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 1617.0

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: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 32% White 9% Native American 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 53% English-only · Spanish 44% Tagalog/Filipino 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: ▼ -62.80%
• Current HPI: 261.8123
• Rent YoY: ▼ -1.86%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-06-12 Sold (MLS) — Southwest MLS
• 2026-05-06 Pending — Southwest MLS
• 2026-04-24 Listed $165,000 Southwest MLS

Property tax history

-0.0%/yr

Latest (2025): $480 · +0.2% YoY. Source: county tax records.