8401 Pan American NE #320 · Albuquerque, NM 87113

$155,000

4 bd · 2.0 ba · 1,477 sqft · Manufactured · 185 Days on market

Manufactured home Built 2022 Good condition $105/sqft · 32% below area Est $228k · 32% under $700/mo HOA · 36% of rent ↓ 3% since listing

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Why this score? — see what drove the D+ 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 +15.0/15.0
• Schools +7.9/10.0
• 1% rule +7.7/10.0
• Cash flow +7.1/30.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Appreciation +2.5/10.0
• Rent growth +1.9/5.0
• DSCR +1.3/10.0
• Manufactured-home adj. -4.1

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 $-220 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (20.6% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $123k (20.6% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 3.8% in Albuquerque — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Edmund G Ross Elementary (405 students, 100% FRL); Desert Ridge Middle (816 students, 16% FRL); La Cueva High (math 72% / reading 85%, grade A-, #8 of 110 statewide, top 6%, 1,816 students, 12% FRL) — zoned schools average 43% FRL vs 60% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 78% at this address vs 63% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Albuquerque Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-2.3%/yr); 104 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 28d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).

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 185 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $123,120 (20.6% 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 185 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.27% ✓
• Cap rate: 4.59%
• Cash-on-cash: -6.09%
• DSCR: 0.73
• GRM: 6.6

CMA / ARV

• ARV (median comp): $227,500
• List price: $155,000
• Delta: -31.87%
• 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%)	7mo	$230,000	$167	66
8432 Creek St NE	0.19mi	3/2.0 (-1)	1,339 (-9%)	5mo	$225,000	$168	66
5905 Anaheim Ave NE	0.33mi	4/2.0	1,310 (-11%)	3mo	$166,500	$127	63
8404 Brook St NE	0.22mi	4/2.0	1,680 (+14%)	4mo	$250,000	$149	63
5035 Brook Pl NE	0.27mi	3/2.0 (-1)	1,340 (-9%)	10mo	$229,000	$171	58

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: -32.7%
• Equity multiple: -0.02×
• Total profit: $-44,442
• Equity at exit: $23,111

10-year hold

• IRR: -83.1%
• Equity multiple: -0.78×
• Total profit: $-77,133
• 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 →

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

Active competition Active MLS

• For sale now: 1 active · 2 under contract
• Months of supply: 1.2 mo (83%/mo absorbed)
• Median asking: $275,000 ($192/sqft)
• Median days on market: 4 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -19.8% vs current asking $/sqft

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

ZIP-level market 87113

• Home prices YoY: -18.4%
• Rents YoY: -2.3%
• Active inventory: 104
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,963 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$700
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-220

Break-even live

Break-even rent $2,242

Max offer price $123,120

Occupancy floor —

Sensitivity live

Price	-10% $-113	-5% $-167	+0% $-220	+5% $-274	+10% $-327
Rent	-10% $-375	-5% $-298	+0% $-220	+5% $-143	+10% $-65
Rate	-1.0pp $-142	-0.5pp $-181	base $-220	+0.5pp $-260	+1.0pp $-301

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	70d	1	0.63mi
6301 Alameda Blvd NE Albuquerque, NM	3.0	1.0–2.0	903	$2,489	$2.75	17d	19	0.84mi
8750 Sevano Cir NE Albuquerque, NM	3.0	3.0	1757	$2,950	$1.68	93d	1	0.94mi
8801 Horizon Way NE Unit 8839 Horizon Albuquerque, NM	3.0	2.5	1731	$2,750	$1.59	93d	1	1.13mi
7205 Quail Springs Pl NE Unit NA Albuquerque, NM	3.0	2.0	1700	$2,500	$1.47	25d	1	1.25mi
7101 Jet Rd NE Albuquerque, NM	3.0	2.0	1330	$1,800	$1.35	35d	1	1.26mi
6401 Santa Monica Ave NE Albuquerque, NM	1.0–3.0	1.0–2.0	1118	$2,360	$2.11	15d	29	1.28mi
7300 Tricia Rd NE Albuquerque, NM	3.0	2.5	1800	$2,450	$1.36	15d	1	1.28mi
8601 Coppell Ct NE Albuquerque, NM	3.0	2.0	1536	$2,300	$1.50	72d	1	1.35mi
7408 Tricia Rd NE Albuquerque, NM	3.0	2.5	1700	$2,395	$1.41	19d	1	1.37mi
7901 Cockatoo Ln NE Albuquerque, NM	3.0	2.0	1325	$2,050	$1.55	27d	1	1.42mi
7240 Boxwood Ave NE Albuquerque, NM	3.0	2.0	1533	$2,100	$1.37	19d	1	1.49mi

Listing history 50 events

1. 2026-08-08
   days on market $155,000 Active 185 DOM
2. 2026-08-07
   days on market $155,000 Active 184 DOM
3. 2026-08-06
   days on market $155,000 Active 183 DOM
4. 2026-08-05
   days on market $155,000 Active 182 DOM
5. 2026-08-04
   days on market $155,000 Active 181 DOM
6. 2026-08-03
   days on market $155,000 Active 180 DOM
7. 2026-08-01
   days on market $155,000 Active 177 DOM
8. 2026-07-30
   days on market $155,000 Active 176 DOM
9. 2026-07-30
   days on market $155,000 Active 175 DOM
10. 2026-07-28
    days on market $155,000 Active 174 DOM
11. 2026-07-26
    days on market $155,000 Active 172 DOM
12. 2026-07-24
    days on market $155,000 Active 170 DOM
13. 2026-07-23
    days on market $155,000 Active 169 DOM
14. 2026-07-22
    days on market $155,000 Active 168 DOM
15. 2026-07-21
    days on market $155,000 Active 167 DOM
16. 2026-07-20
    days on market $155,000 Active 166 DOM
17. 2026-07-18
    days on market $155,000 Active 164 DOM
18. 2026-07-18
    days on market $155,000 Active 163 DOM
19. 2026-07-16
    days on market $155,000 Active 162 DOM
20. 2026-07-15
    days on market $155,000 Active 161 DOM
21. 2026-07-14
    days on market $155,000 Active 160 DOM
22. 2026-07-13
    days on market $155,000 Active 159 DOM
23. 2026-07-13
    days on market $155,000 Active 158 DOM
24. 2026-07-11
    days on market $155,000 Active 157 DOM
25. 2026-07-10
    days on market $155,000 Active 156 DOM
26. 2026-07-09
    days on market $155,000 Active 155 DOM
27. 2026-07-07
    days on market $155,000 Active 153 DOM
28. 2026-07-06
    days on market $155,000 Active 152 DOM
29. 2026-07-05
    days on market $155,000 Active 151 DOM
30. 2026-07-03
    days on market $155,000 Active 149 DOM
31. 2026-07-02
    days on market $155,000 Active 148 DOM
32. 2026-07-01
    days on market $155,000 Active 147 DOM
33. 2026-06-30
    days on market $155,000 Active 146 DOM
34. 2026-06-29
    days on market $155,000 Active 145 DOM
35. 2026-06-28
    days on market $155,000 Active 144 DOM
36. 2026-06-27
    days on market $155,000 Active 143 DOM
37. 2026-06-27
    days on market $155,000 Active 142 DOM
38. 2026-06-25
    days on market $155,000 Active 140 DOM
39. 2026-06-22
    days on market $155,000 Active 138 DOM
40. 2026-06-22
    days on market $155,000 Active 137 DOM
41. 2026-06-18
    days on market $155,000 Active 134 DOM
42. 2026-06-17
    days on market $155,000 Active 133 DOM
43. 2026-06-16
    days on market $155,000 Active 132 DOM
44. 2026-06-15
    days on market $155,000 Active 131 DOM
45. 2026-06-13
    days on market $155,000 Active 129 DOM
46. 2026-06-10
    days on market $155,000 Active 126 DOM
47. 2026-06-09
    days on market $155,000 Active 125 DOM
48. 2026-06-08
    days on market $155,000 Active 124 DOM
49. 2026-06-07
    days on market $155,000 Active 123 DOM
50. 2026-06-05
    days on market $155,000 Active 120 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 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: $23,557
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,885
• − Management: −$1,885
• − HOA: −$8,400
• − Depreciation: −$4,509
• Taxable loss: −$4,903
• Est. tax savings @ 24.0%: +$1,177
• After-tax cash flow: $-1,467/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 Est. rehab $7,385–$22,155 screening

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. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

B Composite school gradezoned avg 78/100

Zoned Schools

Elementary Edmund G Ross Elementary Middle Desert Ridge Middle High La Cueva High A- NM #8/110 Nat'l #1,271/17,239

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): 16,074
• Household income: $95,922
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 5% 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: 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%

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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: ▼ -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