1084 W La Entrada · Corrales, NM 87048

$450,000

4 bd · 2.5 ba · 2,400 sqft · SingleFamily · 163 Days on market

Built 1996 0.94 ac lot $188/sqft · 36% below area Est $698k · 36% under

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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
• Cash flow +9.3/30.0
• Schools +5.3/10.0
• Livability +2.8/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Set on nearly an acre in the sought-after Corrales community, this property offers open space and exceptional potential for horse enthusiasts. The . 94-acre lot provides ample room for stables, paddocks, or a small arena, with level ground ready for your custom equestrian setup. The 4-bedroom, 2-bath home sits amid sweeping Corrales views and endless skies, creating a true country retreat. With horses allowed, it's an ideal setting for rural living, hobby farming, or expanding outdoor amenities such as gardens, pastures, or additional outbuildings. Perfectly located near village shops and restaurants, and offering easy access to Albuquerque and Rio Rancho, this property delivers the rare balance of tranquility and convenience.

Key facts

• Open views
• Country living
• Manufactured home

Tags

• MANUFACTURED HOME
• HORSES ALLOWED
• OUTDOOR LIVING
• OPEN VIEWS
• VILLAGE AMENITIES
• COUNTRY LIVING

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $450k.

Deal economics

• At list price, monthly cash flow is $-326 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $392k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $293k (35.0% below list).
• Recommended offer: $293k (35.0% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 1.1% in Corrales — 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 56/100 on livability (#176 in NM) — a working-class tenant base; expect higher turnover. Strengths: employment A+, crime A, housing B; Watch: amenities F, commute F, cost of living 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: Corrales Elementary (328 students, 23% FRL); Taylor Middle (315 students, 100% FRL); Cibola High (math 37% / reading 72%, grade C-, #34 of 110 statewide, top 31%, 1,762 students, 34% FRL).
• Market conditions: 104 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,278 units permitted in Sandoval County in 2024 (216 in 5+ unit buildings).

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.
• Sandoval County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $292,593 (35.0% 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 163 days. Have you received any prior offers? Is the seller open to a 35% 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. 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?
6. 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.
7. 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.
8. 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: 0.65% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.10%
• DSCR: 0.86
• GRM: 12.8

CMA / ARV

• ARV (median comp): $698,290
• List price: $450,000
• Delta: -35.56%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 Nicky Ln	0.45mi	4/2.0	2,288 (-5%)	3mo	$874,900	$382	67
253 Old Church Rd	0.46mi	3/2.0 (-1)	2,578 (+7%)	3mo	$745,000	$289	56
130 Nicky Ln	0.43mi	4/2.0	2,108 (-12%)	8mo	$784,900	$372	52
618 Reclining Acres Rd	0.65mi	3/3.0 (-1)	2,595 (+8%)	2mo	$535,000	$206	48
140 Ranchitos Rd	0.67mi	3/2.0 (-1)	2,111 (-12%)	6mo	$870,000	$412	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.6%
• Equity multiple: 0.25×
• Total profit: $-93,925
• Equity at exit: $67,096

10-year hold

• IRR: -15.4%
• Equity multiple: 0.13×
• Total profit: $-109,520
• Equity at exit: $38,908

Cash invested: $126,000 (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 87048

• Active inventory: 104
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,926 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$90 /mo · $1,081/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $-326

Break-even live

Break-even rent $3,339

Max offer price $392,420

Occupancy floor —

Sensitivity live

Price	-10% $-71	-5% $-199	+0% $-326	+5% $-453	+10% $-581
Rent	-10% $-557	-5% $-442	+0% $-326	+5% $-210	+10% $-95
Rate	-1.0pp $-99	-0.5pp $-211	base $-326	+0.5pp $-443	+1.0pp $-561

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1429 Tiffany Ln SE Rio Rancho, NM	3.0	2.0	1650	$2,850	$1.73	16d	1	0.84mi
4520 Ambrose Alday Loop SE Rio Rancho, NM	3.0	3.0	1927	$3,500	$1.82	25d	1	0.91mi
4436 Snow Heights Cir SE Rio Rancho, NM	3.0	2.0	1586	$2,300	$1.45	4d	1	0.93mi

Listing history 7 events

1. 2026-03-11
   status Active 736-char remark

   Show marketing remark (736 chars)

   Set on nearly an acre in the sought-after Corrales community, this property offers open space and exceptional potential for horse enthusiasts. The . 94-acre lot provides ample room for stables, paddocks, or a small arena, with level ground ready for your custom equestrian setup. The 4-bedroom, 2-bath home sits amid sweeping Corrales views and endless skies, creating a true country retreat. With horses allowed, it's an ideal setting for rural living, hobby farming, or expanding outdoor amenities such as gardens, pastures, or additional outbuildings. Perfectly located near village shops and restaurants, and offering easy access to Albuquerque and Rio Rancho, this property delivers the rare balance of tranquility and convenience.

2. 2026-03-01
   historical 736-char remark

   Show marketing remark (736 chars)

   Set on nearly an acre in the sought-after Corrales community, this property offers open space and exceptional potential for horse enthusiasts. The . 94-acre lot provides ample room for stables, paddocks, or a small arena, with level ground ready for your custom equestrian setup. The 4-bedroom, 2-bath home sits amid sweeping Corrales views and endless skies, creating a true country retreat. With horses allowed, it's an ideal setting for rural living, hobby farming, or expanding outdoor amenities such as gardens, pastures, or additional outbuildings. Perfectly located near village shops and restaurants, and offering easy access to Albuquerque and Rio Rancho, this property delivers the rare balance of tranquility and convenience.

3. 2026-02-23
   status Active 736-char remark

   Show marketing remark (736 chars)

   Set on nearly an acre in the sought-after Corrales community, this property offers open space and exceptional potential for horse enthusiasts. The . 94-acre lot provides ample room for stables, paddocks, or a small arena, with level ground ready for your custom equestrian setup. The 4-bedroom, 2-bath home sits amid sweeping Corrales views and endless skies, creating a true country retreat. With horses allowed, it's an ideal setting for rural living, hobby farming, or expanding outdoor amenities such as gardens, pastures, or additional outbuildings. Perfectly located near village shops and restaurants, and offering easy access to Albuquerque and Rio Rancho, this property delivers the rare balance of tranquility and convenience.

4. 2026-01-08
   status Pending 736-char remark

   Show marketing remark (736 chars)

   Set on nearly an acre in the sought-after Corrales community, this property offers open space and exceptional potential for horse enthusiasts. The . 94-acre lot provides ample room for stables, paddocks, or a small arena, with level ground ready for your custom equestrian setup. The 4-bedroom, 2-bath home sits amid sweeping Corrales views and endless skies, creating a true country retreat. With horses allowed, it's an ideal setting for rural living, hobby farming, or expanding outdoor amenities such as gardens, pastures, or additional outbuildings. Perfectly located near village shops and restaurants, and offering easy access to Albuquerque and Rio Rancho, this property delivers the rare balance of tranquility and convenience.

5. 2026-01-07
   status Active 736-char remark

   Show marketing remark (736 chars)

   Set on nearly an acre in the sought-after Corrales community, this property offers open space and exceptional potential for horse enthusiasts. The . 94-acre lot provides ample room for stables, paddocks, or a small arena, with level ground ready for your custom equestrian setup. The 4-bedroom, 2-bath home sits amid sweeping Corrales views and endless skies, creating a true country retreat. With horses allowed, it's an ideal setting for rural living, hobby farming, or expanding outdoor amenities such as gardens, pastures, or additional outbuildings. Perfectly located near village shops and restaurants, and offering easy access to Albuquerque and Rio Rancho, this property delivers the rare balance of tranquility and convenience.

6. 2025-12-27
   historical 736-char remark

   Show marketing remark (736 chars)

   Set on nearly an acre in the sought-after Corrales community, this property offers open space and exceptional potential for horse enthusiasts. The . 94-acre lot provides ample room for stables, paddocks, or a small arena, with level ground ready for your custom equestrian setup. The 4-bedroom, 2-bath home sits amid sweeping Corrales views and endless skies, creating a true country retreat. With horses allowed, it's an ideal setting for rural living, hobby farming, or expanding outdoor amenities such as gardens, pastures, or additional outbuildings. Perfectly located near village shops and restaurants, and offering easy access to Albuquerque and Rio Rancho, this property delivers the rare balance of tranquility and convenience.

7. 2025-08-31
   listed $450,000 Active 736-char remark

   Show marketing remark (736 chars)

   Set on nearly an acre in the sought-after Corrales community, this property offers open space and exceptional potential for horse enthusiasts. The . 94-acre lot provides ample room for stables, paddocks, or a small arena, with level ground ready for your custom equestrian setup. The 4-bedroom, 2-bath home sits amid sweeping Corrales views and endless skies, creating a true country retreat. With horses allowed, it's an ideal setting for rural living, hobby farming, or expanding outdoor amenities such as gardens, pastures, or additional outbuildings. Perfectly located near village shops and restaurants, and offering easy access to Albuquerque and Rio Rancho, this property delivers the rare balance of tranquility and convenience.

ⓘ 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: $1,081 · $90/mo
• Projected year-2 tax: $3,600 · $300/mo
• Expected delta: +$2,519/yr (+$210/mo · 233.0%)

ⓘ 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 · 19 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: $35,111
• − Mortgage interest: −$25,207
• − Property taxes: −$1,081
• − Insurance: −$2,250
• − Repairs & maintenance: −$2,809
• − Management: −$2,809
• − Depreciation: −$13,091
• Taxable loss: −$12,136
• Est. tax savings @ 24.0%: +$2,913
• After-tax cash flow: $-999/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 — Corrales

• Score: 56/100
• State rank: #176
• US rank: #22489

Category grades

Amenities F Commute F Cost of living F Crime A Employment A+ Housing B Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corrales, NM
• City population: 9,173
• Population (ZIP): 9,173

Population outlook (Sandoval County) Hauer SSP2

• Today (2025): 155,072 people
• By 2030: 161,714 · +4.3%
• By 2040: 171,831 · +10.8%
• By 2050: 178,536 · +15.1%
• By 2075: 192,517 · +24.1%
• By 2100: 197,952 · +27.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 30% Two or more races 20% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 4% Lithuanian 2% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 12% French/Haitian/Cajun 1%

Political lean MEDSL · Sandoval

• 2024 margin: Lean D (+5.8) · D 51.8% · R 46.0% · Other 2.2%
• 2008→2024 swing: -7.0pp toward R · 2008: 12.8pp · 2024: 5.8pp
• All cycles: 2024: D+5.8 2020: D+8.4 2016: D+2.7 2012: D+5.1 2008: D+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.00%
• Current HPI: 198.5098
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

7 events — show timeline

• 2026-03-11 Relisted — Southwest MLS
• 2026-03-01 Delisted — Southwest MLS
• 2026-02-23 Relisted — Southwest MLS
• 2026-01-08 Pending — Southwest MLS
• 2026-01-07 Relisted — Southwest MLS
• 2025-12-27 Delisted — Southwest MLS
• 2025-08-31 Listed $450,000 Southwest MLS

Property tax history

+0.7%/yr

Latest (2023): $1,081 · +1.8% YoY. Source: county tax records.