234 Texas St NE · Albuquerque, NM 87108

$109,900

2 bd · 2.0 ba · 1,115 sqft · Other public records · 101 Days on market

Built 1946 6,752 sqft lot $99/sqft · 56% below area ↓ 33% since listing

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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 +17.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Schools +5.3/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This duplex sits on a large lot. Each unit includes one bedroom, one bath and individually metered. Perfect property for a contractor/investor who's looking for property to rehab. Surrounding properties are in good condition.

Key facts

• 6,752 sq ft lot
• Built 1946
• Listed 101 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/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 $102k (7.3% below list).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 rising (+2.5%/yr); 164 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.26%
• DSCR: 1.14
• GRM: 9.0

CMA / ARV

• ARV (median comp): $245,000
• List price: $109,900
• Delta: -55.14%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.54% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-12,967
• Equity at exit: $16,386

10-year hold

• IRR: -3.2%
• Equity multiple: 0.79×
• Total profit: $-6,383
• Equity at exit: $9,502

Cash invested: $30,772 (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 87108

• Rents YoY: 2.5%
• Active inventory: 164
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,019 high
• Mortgage (P&I): −$576
• Tax from tax record: −$99 /mo · $1,188/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $84

Break-even live

Break-even rent $913

Max offer price $109,900

Occupancy floor 87%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 Texas St NE Unit 209B Albuquerque, NM	2.0	1.0	700	$950	$1.36	43d	1	0.08mi
209 Texas St NE Albuquerque, NM	2.0	1.0	720	$1,200	$1.67	43d	1	0.08mi
328 Utah St NE Apt A Albuquerque, NM	2.0	1.0	700	$900	$1.29	3d	1	0.13mi
8200 Copper Ave NE Unit A Albuquerque, NM	2.0	1.0	735	$1,149	$1.56	3d	1	0.13mi
328 Rhode Island St NE Unit 1 Albuquerque, NM	3.0	1.0	950	$1,230	$1.29	3d	1	0.14mi
328 Rhode Island St NE Unit 5 Albuquerque, NM	3.0	1.0	950	$1,230	$1.29	43d	1	0.14mi
316 Pennsylvania St NE Unit 320 Pennsylvania -1 Albuquerque, NM	2.0	1.0	900	$900	$1.00	3d	1	0.17mi
324 Vermont St NE Unit 2 Albuquerque, NM	2.0	1.0	700	$995	$1.42	43d	1	0.17mi
217 Pennsylvania St NE Unit 217-E Albuquerque, NM	2.0	1.0	800	$950	$1.19	23d	1	0.20mi
217 Pennsylvania St NE Unit 217-A Albuquerque, NM	2.0	1.0	800	$950	$1.19	43d	1	0.20mi
217 Pennsylvania St NE Unit 217-C Albuquerque, NM	3.0	2.0	1278	$1,400	$1.10	43d	1	0.20mi
340 Pennsylvania St NE Unit C Albuquerque, NM	2.0	1.0	700	$900	$1.29	43d	1	0.20mi
425 Tennessee St NE Albuquerque, NM	2.0	1.0	730	$825	$1.13	43d	1	0.22mi
308 Virginia St NE Unit D Albuquerque, NM	2.0	1.0	700	$850	$1.21	23d	1	0.22mi
428 Rhode Island St NE Unit A Albuquerque, NM	2.0	1.0	750	$1,331	$1.77	43d	1	0.24mi
8000 Grand Ave NE Unit C Albuquerque, NM	2.0	1.0	900	$950	$1.06	3d	1	0.27mi
312 Grove St NE Apt B Albuquerque, NM	2.0	1.0	900	$850	$0.94	23d	1	0.32mi
134 Rhode Island St SE Albuquerque, NM	2.0	1.0	765	$900	$1.18	43d	1	0.33mi
134 Rhode Island St SE Apt A Albuquerque, NM	2.0	1.0	765	$900	$1.18	23d	1	0.33mi
319 General Marshall St NE Apt 2 Albuquerque, NM	1.0	1.0	700	$900	$1.29	43d	1	0.37mi
507 Wisconsin St NE Apt 2B Albuquerque, NM	2.0	1.0	1000	$750	$0.75	23d	1	0.37mi
317 General Marshall St NE #2 Albuquerque, NM	1.0	1.0	1093	$900	$0.82	43d	1	0.37mi
513 Wisconsin St NE Apt 1A Albuquerque, NM	2.0	1.0	1085	$1,577	$1.45	43d	1	0.38mi
332 General Marshall St NE Apt 2 Albuquerque, NM	1.0	1.0	780	$900	$1.15	43d	1	0.41mi
213 San Pablo St NE #4 Albuquerque, NM	2.0	1.0	700	$959	$1.37	23d	1	0.42mi
8313 Marquette Ave NE Unit D Albuquerque, NM	2.0	1.0	855	$1,050	$1.23	19d	1	0.43mi
8401 Marquette Ave NE Unit B Albuquerque, NM	2.0	1.0	850	$850	$1.00	23d	1	0.44mi
8401 Marquette Ave NE Unit C Albuquerque, NM	2.0	1.0	850	$900	$1.06	43d	1	0.44mi
310 Charleston St SE Albuquerque, NM	1.0	1.0	700	$879	$1.26	43d	1	0.47mi
312 Charleston St SE Unit 3 Albuquerque, NM	2.0	1.0	800	$920	$1.15	44d	1	0.48mi
143 General Arnold St NE Apt D Albuquerque, NM	1.0	1.0	765	$800	$1.05	23d	1	0.49mi
143 General Arnold St NE Apt A Albuquerque, NM	1.0	1.0	765	$775	$1.01	43d	1	0.49mi
117 General Arnold St NE Unit A Albuquerque, NM	2.0	1.0	850	$895	$1.05	23d	1	0.52mi
117 General Arnold St NE Apt C Albuquerque, NM	2.0	1.0	825	$1,075	$1.30	43d	1	0.52mi
148 General Arnold St NE Apt 4 Albuquerque, NM	1.0	1.0	700	$850	$1.21	43d	1	0.53mi
148 General Arnold St NE Apt 5 Albuquerque, NM	2.0	1.0	1000	$800	$0.80	14d	1	0.53mi
105 General Arnold St NE Apt B Albuquerque, NM	2.0	1.0	850	$950	$1.12	43d	1	0.53mi
132 General Arnold St NE Apt D Albuquerque, NM	2.0	1.0	1000	$1,000	$1.00	14d	1	0.54mi
408 Pennsylvania St SE Unit B Albuquerque, NM	1.0	1.0	827	$850	$1.03	43d	1	0.55mi
420 Rhode Island St SE Albuquerque, NM	2.0	1.0	916	$1,150	$1.26	3d	1	0.57mi

Listing history 20 events

1. 2026-06-18
   days on market $109,900 Active 101 DOM
2. 2026-06-17
   days on market $109,900 Active 100 DOM
3. 2026-06-16
   days on market $109,900 Active 99 DOM
4. 2026-06-15
   days on market $109,900 Active 98 DOM
5. 2026-06-13
   days on market $109,900 Active 96 DOM
6. 2026-06-10
   days on market $109,900 Active 93 DOM
7. 2026-06-09
   days on market $109,900 Active 92 DOM
8. 2026-06-08
   days on market $109,900 Active 91 DOM
9. 2026-06-07
   days on market $109,900 Active 90 DOM
10. 2026-06-05
    pricedays on market $109,900 Active 87 DOM
11. 2026-06-03
    days on market $119,900 Active 86 DOM
12. 2026-06-02
    days on market $119,900 Active 85 DOM
13. 2026-06-01
    days on market $119,900 Active 84 DOM
14. 2026-05-31
    days on market $119,900 Active 83 DOM
15. 2026-05-02
    price $119,900 225-char remark

    Show marketing remark (225 chars)

    This duplex sits on a large lot. Each unit includes one bedroom, one bath and individually metered. Perfect property for a contractor/investor who's looking for property to rehab. Surrounding properties are in good condition.

16. 2026-04-01
    price $129,000 225-char remark

    Show marketing remark (225 chars)

    This duplex sits on a large lot. Each unit includes one bedroom, one bath and individually metered. Perfect property for a contractor/investor who's looking for property to rehab. Surrounding properties are in good condition.

17. 2026-03-06
    listed $140,000 Active 225-char remark

    Show marketing remark (225 chars)

    This duplex sits on a large lot. Each unit includes one bedroom, one bath and individually metered. Perfect property for a contractor/investor who's looking for property to rehab. Surrounding properties are in good condition.

18. 2023-05-24
    price $180,000
19. 2018-06-13
    soldstatus
20. 2006-04-03
    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: $1,188 · $99/mo
• Projected year-2 tax: $1,188 · $99/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 · 15 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: $12,223
• − Mortgage interest: −$6,156
• − Property taxes: −$1,188
• − Insurance: −$550
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$3,197
• Taxable loss: −$824
• Est. tax savings @ 24.0%: +$198
• After-tax cash flow: $1,200/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): 36,331
• Household income: $42,724
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 3480.0

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: Hispanic / Latino 49% White 34% Two or more races 21% Native American 6% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 31% Cuban 3%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 18% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 26% Other Indo-European 2% Tagalog/Filipino 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: ▼ -228.14%
• Current HPI: 238.53
• Rent YoY: ▲ 2.54%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-33.4% since first listed

6 events — show timeline

• 2026-05-02 Price Changed $119,900 Southwest MLS
• 2026-04-01 Price Changed $129,000 Southwest MLS
• 2026-03-06 Listed $140,000 Southwest MLS
• 2023-05-24 Price Changed $180,000 Southwest MLS
• 2018-06-13 Sold (Public Records) — Public Records
• 2006-04-03 Sold (Public Records) — Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,188 · +3.2% YoY. Source: county tax records.