833 Country Club Dr SE Apt 2A · Rio Rancho, NM 87124

$190,000

2 bd · 1.5 ba · 1,075 sqft · SingleFamily public records · 84 Days on market

Built 1993 $177/sqft · at area comps Est $192k · at est. $205/mo HOA · 13% of rent

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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).

• Cash flow +11.1/30.0
• ARV discount +7.9/15.0
• Schools +5.2/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming condo in The Greens, ideally located in central Rio Rancho near Southern Blvd and Sara Rd/Country Club Dr. This two-bedroom, two-bath home features a spacious open-concept layout connecting the living, dining, and kitchen areas--perfect for comfortable living and entertaining. The large kitchen offers room for an island and includes a generous pantry for extra storage. Step onto the private patio off the living room and enjoy peaceful views of the landscaped grounds and mountain views. The condo association maintains HVAC, water heater, plumbing, electrical, and the exterior, providing convenient, low-maintenance living. This is a no pet property.

Key facts

• $205 HOA
• Garage
• Built 1993

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-78 ($-937/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (14.9% below list).
• Recommended offer: $162k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.6% in Rio Rancho — 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 71/100 on livability (#17 in NM) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: schools C-, amenities D, commute F.
• Rio Rancho Public Schools (suburban): math 48% / reading 73% proficiency, ranked #4 of 29 in NM (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.1%/yr); 825 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 84 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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.

Recommended offer $161,748 (14.9% 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 84 days. Have you received any prior offers? Is the seller open to a 15% 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. 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?
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: 0.85% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.76%
• DSCR: 0.92
• GRM: 9.8

CMA / ARV

• ARV (median comp): $191,896
• List price: $190,000
• Delta: -0.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.13% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.33×
• Total profit: $-35,499
• Equity at exit: $28,330

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-36,238
• Equity at exit: $16,428

Cash invested: $53,200 (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 87124

• Rents YoY: 3.1%
• Active inventory: 825
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,617 high
• Mortgage (P&I): −$996
• Tax from tax record: −$75 /mo · $904/yr
• Insurance: −$79
• HOA: −$205
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $-78

Break-even live

Break-even rent $1,716

Max offer price $176,205

Occupancy floor 100%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
833 Country Club Dr SE Unit 1A Rio Rancho, NM	2.0	2.0	1156	$1,500	$1.30	2d	1	0.01mi
925 Country Club Dr SE Rio Rancho, NM	2.0	2.0	1045	$1,600	$1.53	2d	1	0.10mi
937 Country Club Dr SE Unit J Rio Rancho, NM	2.0	1.5	1100	$1,300	$1.18	43d	1	0.15mi
900 Country Club Dr SE Rio Rancho, NM	1.0–2.0	1.0–2.0	730	$1,567	$2.15	1d	12	0.22mi
201 Pinnacle Dr SE Rio Rancho, NM	1.0–3.0	1.0–2.0	1095	$1,618	$1.48	1d	26	0.71mi
2517 Bogie Rd SE Rio Rancho, NM	3.0	2.0	1430	$1,950	$1.36	2d	1	0.93mi
37 Parkside Rd SE Rio Rancho, NM	3.0	3.0	1445	$2,600	$1.80	2d	1	1.06mi
2220 Mayapan Rd SE Rio Rancho, NM	3.0	2.0	1286	$1,850	$1.44	10d	1	1.15mi
598 Turmalina DR SE Albuquerque, NM	3.0	2.0	1440	$2,375	$1.65	43d	1	1.26mi
4101 Meadowlark Ln SE Rio Rancho, NM	1.0–2.0	1.0–2.0	703	$1,620	$2.30	2d	12	1.26mi
4248 Sabana Loop SE Rio Rancho, NM	2.0	2.0	800	$1,500	$1.88	43d	1	1.31mi
1011 Meadowlark Ct SE Apt 2 Rio Rancho, NM	2.0	1.0	820	$1,250	$1.52	2d	1	1.37mi
1071 Meadowlark Ct SE Rio Rancho, NM	2.0	1.0	950	$1,500	$1.58	2d	1	1.39mi
305 Geraldine Rd SE Unit A Rio Rancho, NM	2.0	1.0	912	$1,300	$1.43	23d	1	1.48mi

HOA detail

• Monthly dues: $205 · $2,460/yr
• Likely covers: waterelectriclandscaping

Listing history 19 events

1. 2026-06-18
   days on market $190,000 Active 84 DOM
2. 2026-06-17
   days on market $190,000 Active 83 DOM
3. 2026-06-16
   days on market $190,000 Active 82 DOM
4. 2026-06-15
   days on market $190,000 Active 81 DOM
5. 2026-06-13
   days on market $190,000 Active 79 DOM
6. 2026-06-13
   days on market $190,000 Active 78 DOM
7. 2026-06-10
   days on market $190,000 Active 76 DOM
8. 2026-06-09
   days on market $190,000 Active 75 DOM
9. 2026-06-08
   days on market $190,000 Active 74 DOM
10. 2026-06-07
    days on market $190,000 Active 73 DOM
11. 2026-06-03
    days on market $190,000 Active 69 DOM
12. 2026-06-02
    days on market $190,000 Active 68 DOM
13. 2026-06-01
    days on market $190,000 Active 67 DOM
14. 2026-05-31
    days on market $190,000 Active 66 DOM
15. 2026-03-26
    listed $195,000 Active 681-char remark

    Show marketing remark (681 chars)

    Welcome to this charming condo in The Greens, ideally located in central Rio Rancho near Southern Blvd and Sara Rd/Country Club Dr. This two-bedroom, two-bath home features a spacious open-concept layout connecting the living, dining, and kitchen areas--perfect for comfortable living and entertaining. The large kitchen offers room for an island and includes a generous pantry for extra storage. Step onto the private patio off the living room and enjoy peaceful views of the landscaped grounds and mountain views. The condo association maintains HVAC, water heater, plumbing, electrical, and the exterior, providing convenient, low-maintenance living. This is a no pet property.

16. 2015-10-15
    historical
17. 2015-09-24
    price $73,900
18. 2015-08-20
    price $75,500
19. 2015-05-25
    listed $78,500 Active

ⓘ 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: $904 · $75/mo
• Projected year-2 tax: $1,520 · $127/mo
• Expected delta: +$616/yr (+$51/mo · 68.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,410
• − Mortgage interest: −$10,643
• − Property taxes: −$904
• − Insurance: −$950
• − Repairs & maintenance: −$1,553
• − Management: −$1,553
• − HOA: −$2,460
• − Depreciation: −$5,527
• Taxable loss: −$4,180
• Est. tax savings @ 24.0%: +$1,003
• After-tax cash flow: $66/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: Rio Rancho Public Schools
• NCES district ID: 3500010
• Math proficiency: 48% ▲ 38.00%
• Reading proficiency: 73% ▲ 48.00%
• Median HH income: $59,410
• Composite: 52.29/100
• National rank: #1595
• State rank: #4 of 29 in NM

Livability — Rio Rancho

• Score: 71/100
• State rank: #17
• US rank: #7253

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rio Rancho, NM
• County: Sandoval County · 110,336 people
• City population: 110,336
• Metro: Albuquerque, NM
• Population (ZIP): 58,499
• Household income: $86,555
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 1027.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 47% Hispanic / Latino 41% Two or more races 18% Native American 5% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 24% Puerto Rican 2%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 12% Vietnamese 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: ▼ -303.50%
• Current HPI: 219.8377
• Rent YoY: ▲ 3.13%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+148.4% since first listed

5 events — show timeline

• 2026-03-26 Listed $195,000 Southwest MLS
• 2015-10-15 Delisted — Southwest MLS
• 2015-09-24 Price Changed $73,900 Southwest MLS
• 2015-08-20 Price Changed $75,500 Southwest MLS
• 2015-05-25 Listed $78,500 Southwest MLS

Property tax history

+2.2%/yr

Latest (2024): $904 · +2.6% YoY. Source: county tax records.