10 Psalms Pl · Las Maravillas, NM 87031

$279,900

3 bd · 2.0 ba · 1,475 sqft · SingleFamily · 26 Days on market

Built 2005 6,970 sqft lot Est $251k · 12% over

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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 +13.5/30.0
• Rent growth +5.0/5.0
• DSCR +4.1/10.0
• Livability +2.9/5.0
• 1% rule +2.6/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Appreciation +0.0/10.0

Listing remarks

Tucked away on a cul-de-sac in the Pasitos subdivision, this inviting 3 bedroom, 2 bathroom home is ready for its next owner! Features include refrigerated air, a fully paid solar panel system, and a 2 car attached garage. The front and backyards are fully landscaped, creating comfortable outdoor spaces to enjoy year-round. A well-cared-for home offering comfort, convenience, and energy savings all in one package.

Key facts

• Refrigerated air
• Pasitos subdivision
• Fully landscaped

Tags

• CUL-DE-SAC
• PASITOS SUBDIVISION
• REFRIGERATED AIR
• FULLY PAID SOLAR PANEL SYSTEM
• FULLY LANDSCAPED
• COMFORTABLE OUTDOOR SPACES

Property features AI

Finance

• HOA & community: Planned unit development

Exterior

• Parking: Attached finished garage with automatic door; 2 garage spaces
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer; Underground utilities
• Home design: Single-story; Resale property; Slab foundation
• Construction: Built by B Jar Constructions; Frame with stucco exterior; Pitched shingle roof
• Exterior features: Covered patio; Patio; Back yard fencing; Cul-de-sac lot; Landscaped; Planned unit development; Xeriscape; Faces west

Interior

• Kitchen: Dishwasher; Free-standing electric range; Disposal; Microwave; Refrigerator
• Bedrooms: Main-level bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central forced-air heating (natural gas); Refrigerated cooling
• Interior features: Ceiling fans; Dual sinks; Main-level primary suite; Tub with shower; Walk-in closet
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $9 ($106/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 $212k (24.2% below list).
• Recommended offer: $212k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#152 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Los Lunas Public Schools (suburban): math 20% / reading 34% proficiency, ranked #34 of 95 in NM (top 36%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: La Merced Elementary (437 students, 100% FRL); Belen Middle (528 students, 100% FRL); Belen High (math 30% / reading 50%, grade F, #61 of 110 statewide, top 61%, 1,027 students, 100% FRL) — zoned schools average 100% FRL vs 63% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 40% at this address vs 27% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Los Lunas Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+33.2%/yr); 567 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 303 units permitted in Valencia County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($61k/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 $8k of value loss. Plan a longer hold.
• Valencia County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($276k) 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $212,261 (24.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.76% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $250,750
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Genesis Pl	0.17mi	3/2.0	1,260 (-15%)	3mo	$239,900	$190	65
4 Sego Pl	0.40mi	3/2.0	1,350 (-8%)	9mo	$229,000	$170	60
114 Vissing Pl	0.50mi	3/2.0	1,346 (-9%)	6mo	$199,900	$149	58
139 Vissing Pl	0.44mi	3/2.0	1,306 (-12%)	7mo	$220,000	$168	55

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.57×
• Total profit: $-33,705
• Equity at exit: $41,734

10-year hold

• IRR: 3.2%
• Equity multiple: 1.28×
• Total profit: $21,898
• Equity at exit: $24,201

Cash invested: $78,372 (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 87031

• Home prices YoY: -29.8%
• Rents YoY: 33.2%
• Active inventory: 567
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,123 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$84 /mo · $1,003/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $9

Break-even live

Break-even rent $2,111

Max offer price $279,900

Occupancy floor 95%

Sensitivity live

Price	-10% $167	-5% $88	+0% $9	+5% $-70	+10% $-150
Rent	-10% $-159	-5% $-75	+0% $9	+5% $93	+10% $177
Rate	-1.0pp $150	-0.5pp $80	base $9	+0.5pp $-64	+1.0pp $-137

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Sheba Pl Los Lunas, NM	3.0	2.0	1420	$2,000	$1.41	46d	1	0.23mi

Listing history 18 events

1. 2026-06-22
   days on market $279,900 Active 26 DOM
2. 2026-06-18
   days on market $279,900 Active 23 DOM
3. 2026-06-17
   days on market $279,900 Active 22 DOM
4. 2026-06-16
   days on market $279,900 Active 21 DOM
5. 2026-06-15
   days on market $279,900 Active 20 DOM
6. 2026-06-13
   pricedays on market $279,900 Active 18 DOM
7. 2026-06-10
   days on market $289,900 Active 15 DOM
8. 2026-06-09
   days on market $289,900 Active 14 DOM
9. 2026-06-08
   days on market $289,900 Active 13 DOM
10. 2026-06-07
    days on market $289,900 Active 12 DOM
11. 2026-06-03
    days on market $289,900 Active 8 DOM
12. 2026-06-02
    days on market $289,900 Active 7 DOM
13. 2026-06-01
    days on market $289,900 Active 6 DOM
14. 2026-05-31
    days on market $289,900 Active 5 DOM
15. 2026-05-26
    listed $289,900 Active
16. 2015-05-18
    historical
17. 2015-05-09
    price $94,900
18. 2015-04-14
    listed $109,900 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: $1,003 · $84/mo
• Projected year-2 tax: $2,239 · $187/mo
• Expected delta: +$1,237/yr (+$103/mo · 123.4%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,471
• − Mortgage interest: −$15,679
• − Property taxes: −$1,003
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,038
• − Management: −$2,038
• − Depreciation: −$8,143
• Taxable loss: −$4,827
• Est. tax savings @ 24.0%: +$1,159
• After-tax cash flow: $1,265/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: Los Lunas Public Schools
• NCES district ID: 3501680
• Math proficiency: 20% —
• Reading proficiency: 34% —
• Median HH income: $44,438
• Composite: 26.11/100
• National rank: #12724
• State rank: #34 of 95 in NM

Livability — Las Maravillas

• Score: 58/100
• State rank: #152
• US rank: #21394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Valencia County · 68,779 people
• Metro: Albuquerque, NM
• Population (ZIP): 47,514
• Household income: $60,902
• Rent vs Own: 16.8% rent · 83.2% own
• Severe rent burden: 602.0

Population outlook (Valencia County) Hauer SSP2

• Today (2025): 73,788 people
• By 2030: 72,101 · -2.3%
• By 2040: 67,930 · -7.9%
• By 2050: 63,191 · -14.4%
• By 2075: 53,644 · -27.3%
• By 2100: 40,882 · -44.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 30% Two or more races 29% Native American 4% Black 1%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Serbian 1% Russian 1% Slovak 1%
• Foreign-born: 8% · Canada
• Languages at home: 71% English-only · Spanish 27%

Political lean MEDSL · Valencia

• 2024 margin: R (+16.4) · D 40.9% · R 57.3% · Other 1.8%
• 2008→2024 swing: -24.1pp toward R · 2008: 7.7pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+9.6 2016: R+8.7 2012: D+2.5 2008: D+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.17%
• Current HPI: 201.0508
• Rent YoY: ▲ 33.16%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+163.8% since first listed

4 events — show timeline

• 2026-05-26 Listed $289,900 Southwest MLS
• 2015-05-18 Delisted — Southwest MLS
• 2015-05-09 Price Changed $94,900 Southwest MLS
• 2015-04-14 Listed $109,900 Southwest MLS

Property tax history

-0.6%/yr

Latest (2025): $1,003 · +8.5% YoY. Source: county tax records.