4708 Eric Dr NE · Albuquerque, NM 87109

$295,000

4 bd · 2.0 ba · 1,472 sqft · SingleFamily public records · 8 Days on market

Built 1973 6,011 sqft lot $200/sqft · 19% below area Est $364k · 19% 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 +8.0/30.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +2.1/10.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 4-bedroom, 2-bath Albuquerque home featuring a newer roof, fresh paint, and tile throughout, no carpet. Enjoy a cozy fireplace, newer refrigerated air, fenced yard, and ample off-street parking with space for multiple vehicles. Conveniently located with quick access to Paseo del Norte, I-25, I-40, plus nearby shopping, dining, and Arroyo del Oso Golf Course.

Key facts

• Tile throughout
• Fresh paint
• Fenced yard

Tags

• NEWER ROOF
• FRESH PAINT
• TILE THROUGHOUT
• COZY FIREPLACE
• NEWER REFRIGERATED AIR
• FENCED YARD

Property features AI

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Electricity connected; Natural gas available; Public water (connected); Public sewer (connected); Cable available
• Home design: Single-story; Faces west; Resale property
• Construction: Built with aluminum siding, frame, and stucco; Pitched shingle roof
• Exterior features: Private yard; Wall fencing

Interior

• Kitchen: Free-standing electric range; Disposal; Microwave; Refrigerator
• Bedrooms: Primary bedroom on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Central heating with forced air; Refrigerated cooling
• Interior features: Breakfast bar; Main level primary bedroom; Pantry; Separate shower (shower only)
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $-301 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (29.5% below list).
• Recommended offer: $208k (29.5% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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 (-1.0%/yr); 148 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• This rent runs 42% of the median local income ($59k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $207,831 (29.5% 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. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.70% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.37%
• DSCR: 0.81
• GRM: 11.8

CMA / ARV

• ARV (median comp): $363,500
• List price: $295,000
• Delta: -18.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8121 Monterey East Ave NE	0.13mi	4/2.0	1,451 (-1%)	5mo	$315,000	$217	88
8224 Florence Ave NE	0.10mi	3/2.0 (-1)	1,459 (-1%)	7mo	$310,000	$212	83
8224 Bart Ave NE	0.11mi	3/2.0 (-1)	1,408 (-4%)	4mo	$305,000	$217	79
8506 Las Camas Rd NE	0.36mi	3/2.0 (-1)	1,522 (+3%)	5mo	$315,000	$207	69
8145 Florence Ave NE	0.07mi	3/2.0 (-1)	1,284 (-13%)	6mo	$329,900	$257	65
8413 Gutierrez Rd NE	0.32mi	3/2.0 (-1)	1,376 (-6%)	7mo	$330,000	$240	63
8216 Bret Pl NE	0.18mi	3/2.0 (-1)	1,289 (-12%)	3mo	$239,700	$186	63
4105 Chama St NE	0.66mi	3/2.0 (-1)	1,502 (+2%)	2mo	$350,000	$233	59
7812 Palo Duro Ave NE	0.65mi	3/2.0 (-1)	1,531 (+4%)	8mo	$380,000	$248	51
3912 Denise Ct NE	0.53mi	4/2.0	1,682 (+14%)	3mo	$377,000	$224	49
9020 La Barranca Ave NE	0.73mi	3/2.0 (-1)	1,349 (-8%)	3mo	$340,000	$252	44
8505 Bellrose Ave NE	0.63mi	3/2.0 (-1)	1,628 (+11%)	9mo	$400,000	$246	40

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: -26.9%
• Equity multiple: 0.12×
• Total profit: $-73,094
• Equity at exit: $43,985

10-year hold

• IRR: -38.5%
• Equity multiple: -0.36×
• Total profit: $-111,988
• Equity at exit: $25,506

Cash invested: $82,600 (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 87109

• Rents YoY: -1.0%
• Active inventory: 148
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,078 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$273 /mo · $3,276/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $-301

Break-even live

Break-even rent $2,459

Max offer price $241,820

Occupancy floor —

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7600 Montgomery Blvd NE Albuquerque, NM	1.0–3.0	1.0–2.0	910	$2,012	$2.21	3d	18	0.22mi
7100 Natalie Ave NE Albuquerque, NM	1.0–3.0	1.0–2.5	1015	$1,750	$1.72	3d	8	0.59mi
8906 Aztec Rd NE Albuquerque, NM	3.0	1.5	1100	$2,400	$2.18	19d	1	1.14mi
6852 Kelly Ann Rd NE Albuquerque, NM	3.0	2.0	1692	$2,500	$1.48	44d	1	1.16mi
9516 Dona Marguerita Ave NE Albuquerque, NM	3.0	2.0	1650	$1,800	$1.09	44d	1	1.16mi
4236 Eubank Blvd NE Albuquerque, NM	1.0–3.0	1.0–2.0	862	$1,992	$2.31	3d	15	1.40mi
6001 Topke Pl NE Albuquerque, NM	1.0–3.0	1.0–2.0	756	$1,755	$2.32	3d	23	1.40mi
9019 Los Arboles Ave NE Albuquerque, NM	3.0	2.0	1445	$1,800	$1.25	44d	1	1.44mi
5404 Montgomery Blvd NE Albuquerque, NM	1.0–3.0	1.0–3.0	1502	$2,800	$1.86	3d	8	1.44mi

Listing history 10 events

1. 2026-05-10
   status Pending 376-char remark
2. 2026-05-07
   price $295,000 376-char remark
3. 2026-04-29
   listed $300,000 Active 376-char remark
4. 2023-11-13
   soldstatus
5. 2022-09-30
   soldstatus
6. 2022-09-13
   status Pending
7. 2022-09-12
   historical
8. 2022-09-04
   status Pending
9. 2022-08-31
   listed $270,000 Active
10. 2003-11-21
    soldstatus

ⓘ 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: $3,276 · $273/mo
• Projected year-2 tax: $3,276 · $273/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 6 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,940
• − Mortgage interest: −$16,525
• − Property taxes: −$3,276
• − Insurance: −$1,475
• − Repairs & maintenance: −$1,995
• − Management: −$1,995
• − Depreciation: −$8,582
• Taxable loss: −$8,908
• Est. tax savings @ 24.0%: +$2,138
• After-tax cash flow: $-1,475/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 — 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): 39,324
• Household income: $58,900
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 2187.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 36% Two or more races 17% Native American 9% Black 3% Asian 3%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 2% Slovak 2% Portuguese 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 84% English-only · Spanish 11% Other Indo-European 1%

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: ▼ -303.11%
• Current HPI: 250.5034
• Rent YoY: ▼ -0.97%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+9.3% since first listed

11 events — show timeline

• 2026-06-11 Sold (MLS) — Southwest MLS
• 2026-05-10 Pending — Southwest MLS
• 2026-05-07 Price Changed $295,000 Southwest MLS
• 2026-04-29 Listed $300,000 Southwest MLS
• 2023-11-13 Sold (Public Records) — Public Records
• 2022-09-30 Sold (Public Records) — Public Records
• 2022-09-13 Pending — Southwest MLS
• 2022-09-12 Delisted — Southwest MLS
• 2022-09-04 Pending — Southwest MLS
• 2022-08-31 Listed $270,000 Southwest MLS
• 2003-11-21 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $3,276 · +3.2% YoY. Source: county tax records.