8 Rampart Rd

Cedro, NM 87059

$200,000D+

3 bd · 1.5 ba · 1,512 sqft · Built 1994 · Other · Active · 264 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,808/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$196
• HOA: −$0
• Vac / Maint / Mgmt: −$380
• Net cashflow: $183/mo
• Annual: $2,196/yr
• Cap rate: 7.39%
• Cash-on-cash: 3.92%
• DSCR: 1.17
• 1% rule: 0.90%
• Cash to close: $56,000

Investor read

• This is a 3-bed/1.5-bath other listed at $200k.
• At list price, monthly cash flow is $183 ($2k/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 $181k (9.6% below list).
• It's been on market 264 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• 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 57/100 on livability (#163 in NM) — a working-class tenant base; expect higher turnover. Strengths: housing A+, employment A-; Watch: cost of living C-, amenities F, commute 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: A. Montoya Elementary (410 students, 44% FRL); Roosevelt Middle (381 students, 34% FRL); Nex Gen Academy (math 70% / reading 90%, grade A, #3 of 110 statewide, top 5%, 237 students, 20% FRL) — zoned schools average 33% FRL vs 60% district-wide (27 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 80% at this address vs 63% district-wide (+17 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: 149 active listings in the ZIP; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• 4 sale attempts since 5y ago 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.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 264 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.
• 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.
• 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.