8401 Pan American NE #320 · Albuquerque, NM 87113

$155,000

4 bd · 2.0 ba · 1,477 sqft · Manufactured · 134 Days on market

Built 2022 Good condition $105/sqft · 30% below area Est $222k · 30% under $700/mo HOA · 26% of rent ↓ 3% since listing

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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 +26.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.8/10.0
• Schools +5.3/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This newer 3‑bedroom, 2‑bath mobile home built in 2022, is located on a spacious and quiet lot in Coronado Village Park. The home offers a comfortable layout with well sized bedrooms and modern finishes throughout. Enjoy beautiful views of the Sandia Mountains and a convenient location close to the Balloon Fiesta Park, providing easy access to local attractions while maintaining a peaceful neighborhood setting. This well maintained home is ready for you!!

Key facts

• Spacious lot
• Convenient location
• Beautiful views

Tags

• SPACIOUS LOT
• BEAUTIFUL VIEWS
• CONVENIENT LOCATION
• PEACEFUL NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $155k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 (-2.3%/yr); 63 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent runs 34% of the median local income ($96k/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

• It's been on market 134 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
8. 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.
9. 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: 1.77% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.83%
• DSCR: 1.48
• GRM: 4.7

CMA / ARV

• ARV (median comp): $222,450
• List price: $155,000
• Delta: -30.32%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8439 Brook St NE	0.26mi	3/2.0 (-1)	1,380 (-7%)	5mo	$230,000	$167	68
8432 Creek St NE	0.19mi	3/2.0 (-1)	1,339 (-9%)	4mo	$225,000	$168	67
5905 Anaheim Ave NE	0.33mi	4/2.0	1,310 (-11%)	1mo	$166,500	$127	64
8404 Brook St NE	0.22mi	4/2.0	1,680 (+14%)	3mo	$250,000	$149	64
5035 Brook Pl NE	0.27mi	3/2.0 (-1)	1,340 (-9%)	9mo	$229,000	$171	60

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.82×
• Total profit: $-7,727
• Equity at exit: $23,111

10-year hold

• IRR: -1.6%
• Equity multiple: 0.91×
• Total profit: $-3,704
• Equity at exit: $13,402

Cash invested: $43,400 (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 87113

• Home prices YoY: -18.4%
• Rents YoY: -2.3%
• Active inventory: 63
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,738 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$700
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $392

Break-even live

Break-even rent $2,242

Max offer price $155,000

Occupancy floor 81%

Sensitivity live

Price	-10% $499	-5% $445	+0% $392	+5% $338	+10% $284
Rent	-10% $175	-5% $283	+0% $392	+5% $500	+10% $608
Rate	-1.0pp $470	-0.5pp $431	base $392	+0.5pp $351	+1.0pp $311

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8319 Santa Clarita St NE Albuquerque, NM	3.0	2.0	1728	$2,500	$1.45	22d	1	0.63mi
6301 Alameda Blvd NE Albuquerque, NM	3.0	1.0–2.5	903	$2,399	$2.66	2d	23	0.84mi
8750 Sevano Cir NE Albuquerque, NM	3.0	3.0	1757	$2,950	$1.68	44d	1	0.94mi
8801 Horizon Way NE Unit 8839 Horizon Albuquerque, NM	3.0	2.5	1731	$2,750	$1.59	44d	1	1.13mi
8601 Coppell Ct NE Albuquerque, NM	3.0	2.0	1536	$2,300	$1.50	24d	1	1.35mi

HOA detail

• Monthly dues: $700 · $8,400/yr

Listing history 16 events

1. 2026-06-18
   days on market $155,000 Active 134 DOM
2. 2026-06-17
   days on market $155,000 Active 133 DOM
3. 2026-06-16
   days on market $155,000 Active 132 DOM
4. 2026-06-15
   days on market $155,000 Active 131 DOM
5. 2026-06-13
   days on market $155,000 Active 129 DOM
6. 2026-06-10
   days on market $155,000 Active 126 DOM
7. 2026-06-09
   days on market $155,000 Active 125 DOM
8. 2026-06-08
   days on market $155,000 Active 124 DOM
9. 2026-06-07
   days on market $155,000 Active 123 DOM
10. 2026-06-05
    days on market $155,000 Active 120 DOM
11. 2026-06-03
    days on market $155,000 Active 119 DOM
12. 2026-06-02
    days on market $155,000 Active 118 DOM
13. 2026-06-01
    days on market $155,000 Active 117 DOM
14. 2026-05-31
    days on market $155,000 Active 116 DOM
15. 2026-03-20
    price $155,000 459-char remark

    Show marketing remark (459 chars)

    This newer 3‑bedroom, 2‑bath mobile home built in 2022, is located on a spacious and quiet lot in Coronado Village Park. The home offers a comfortable layout with well sized bedrooms and modern finishes throughout. Enjoy beautiful views of the Sandia Mountains and a convenient location close to the Balloon Fiesta Park, providing easy access to local attractions while maintaining a peaceful neighborhood setting. This well maintained home is ready for you!!

16. 2025-12-18
    listed $160,000 Active 459-char remark

    Show marketing remark (459 chars)

    This newer 3‑bedroom, 2‑bath mobile home built in 2022, is located on a spacious and quiet lot in Coronado Village Park. The home offers a comfortable layout with well sized bedrooms and modern finishes throughout. Enjoy beautiful views of the Sandia Mountains and a convenient location close to the Balloon Fiesta Park, providing easy access to local attractions while maintaining a peaceful neighborhood setting. This well maintained home is ready for you!!

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,852
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$2,628
• − Management: −$2,628
• − HOA: −$8,400
• − Depreciation: −$4,509
• Taxable income: $2,904
• Est. tax owed @ 24.0%: −$697
• After-tax cash flow: $4,002/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 well-maintained 2022 manufactured home is ready for a new owner. It features a good condition exterior, interior, and appliances, with minor maintenance items to address. The home is located in a quiet neighborhood with a spacious lot and beautiful views of the Sandia Mountains.

Value-add opportunities

• Resale Paint the exterior siding — A fresh coat of paint can enhance the curb appeal and make the home look more inviting.
• Rental Replace the window screens — Replacing old or damaged window screens can improve the home's energy efficiency and reduce maintenance costs.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — A fresh coat of paint can enhance the curb appeal and make the home look more inviting. ↑
• Rental Replace the window screens — Replacing old or damaged window screens can improve the home's energy efficiency and reduce maintenance costs. ↑

ⓘ 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): 16,074
• Household income: $95,922
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 392.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 41% Hispanic / Latino 28% Two or more races 20% Asian 19% Native American 4% Black 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 5% Italian 4% Serbian 3%
• Foreign-born: 17% · Vietnam, China, Canada
• Languages at home: 72% English-only · Spanish 9% Vietnamese 7% Chinese 4%

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: ▼ -55.29%
• Current HPI: 244.7283
• Rent YoY: ▼ -2.32%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-3.1% since first listed

2 events — show timeline

• 2026-03-20 Price Changed $155,000 Southwest MLS
• 2025-12-18 Listed $160,000 Southwest MLS