4004 67th St NW · Albuquerque, NM 87120

$239,900

3 bd · 2.0 ba · 943 sqft · Other public records · 2 Days on market

Built 1983 3,703 sqft lot

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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 +9.7/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover this charming 3-bedroom, 2 -bath (both updated) Patio Home with courtyard entry, 2 car garage, open floor plan, and soaring ceilings nestled in a welcoming neighborhood on a quiet street with NO HOA * * Conveniently located near Ladera Golf Course, lots of restaurants and shopping areas and easy access to I-40. Skylights and large windows bring in an abundance of natural light and the spacious living area seamlessly connects to the updated kitchen w/ granite counters & island, making the open spaces even more enjoyable for all of your cooking and entertaining needs. The property also features a nice sized, but easy to maintain walled backyard that is ready for your finishing

Key facts

• Open floor plan
• Soaring ceilings
• Natural light

Tags

• COURTYARD ENTRY
• OPEN FLOOR PLAN
• SOARING CEILINGS
• NATURAL LIGHT
• UPDATED KITCHEN
• GRANITE COUNTERS

Property features AI

Finance

• HOA & community: Planned Unit Development

Exterior

• Parking: Detached two-car garage with garage door opener and multi-door access
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-story home; Faces west; Resale property
• Construction: Frame and stucco construction; Metal pitched roof; Built by U S Homes
• Exterior features: Courtyard; Patio (covered and open); Private yard; Walled yard

Interior

• Kitchen: Dishwasher; Free-standing electric range; Range hood; Microwave; Refrigerator; Disposal
• Bedrooms: Primary on main level
• Flooring: Laminate; Tile
• Bathrooms: One full bathroom; One three-quarter bathroom (shower only)
• Heating & cooling: Central forced-air heating (natural gas); Evaporative cooling
• Interior features: Breakfast bar and breakfast area; Great room; Kitchen island; Pantry; Main level primary bedroom; Shower-only bath with separate shower; Walk-in closet(s); Bay windows and double-pane insulated windows
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $240k.

Deal economics

• At list price, monthly cash flow is $-157 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (29.5% below list).
• Recommended offer: $169k (29.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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 (-1.4%/yr); 448 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,135 (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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.71% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.81%
• DSCR: 0.87
• GRM: 11.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.1%
• Equity multiple: 0.20×
• Total profit: $-53,928
• Equity at exit: $35,770

10-year hold

• IRR: -29.2%
• Equity multiple: -0.18×
• Total profit: $-79,327
• Equity at exit: $20,742

Cash invested: $67,172 (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 87120

• Rents YoY: -1.4%
• Active inventory: 448
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,691 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$136 /mo · $1,626/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $-157

Break-even live

Break-even rent $1,891

Max offer price $212,103

Occupancy floor —

Sensitivity live

Price	-10% $-22	-5% $-89	+0% $-157	+5% $-225	+10% $-293
Rent	-10% $-291	-5% $-224	+0% $-157	+5% $-91	+10% $-24
Rate	-1.0pp $-37	-0.5pp $-96	base $-157	+0.5pp $-220	+1.0pp $-283

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4113 Atrisco Dr NW Unit 4201-E Albuquerque, NM	2.0	1.0	850	$1,245	$1.46	44d	1	0.49mi
3608 Ladera Dr NW Albuquerque, NM	1.0–2.0	1.0	732	$1,425	$1.95	4d	6	0.50mi
6101 Sequoia Rd NW Albuquerque, NM	1.0–2.0	1.0–2.0	1000	$1,795	$1.79	4d	22	0.56mi
6041 Sequoia Rd NW Albuquerque, NM	2.0	2.5	1109	$1,600	$1.44	4d	2	0.67mi
5106 Park Ridge Rd NW Albuquerque, NM	3.0	2.0	1100	$1,995	$1.81	15d	1	1.08mi
3717 Alamogordo Dr NW Unit 7 Albuquerque, NM	2.0	1.0	800	$1,425	$1.78	44d	1	1.11mi
2600 Americare Ct NW Albuquerque, NM	1.0–2.0	1.0–2.0	811	$1,132	$1.39	4d	19	1.14mi
5109 Redlands Rd NW Albuquerque, NM	2.0	2.0	974	$1,800	$1.85	24d	1	1.18mi

Listing history 2 events

1. 2026-05-16
   status Pending 808-char remark
2. 2026-05-14
   listed $239,900 Active 808-char remark

ⓘ 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: $1,626 · $136/mo
• Projected year-2 tax: $1,919 · $160/mo
• Expected delta: +$293/yr (+$24/mo · 18.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,296
• − Mortgage interest: −$13,438
• − Property taxes: −$1,626
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,624
• − Management: −$1,624
• − Depreciation: −$6,979
• Taxable loss: −$6,194
• Est. tax savings @ 24.0%: +$1,487
• After-tax cash flow: $-402/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): 66,097
• Household income: $86,907
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 1376.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 54% White 34% Two or more races 28% Native American 5% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Lithuanian 2% Italian 2% Romanian 1%
• Foreign-born: 8% · Canada, Jamaica, Vietnam
• Languages at home: 76% English-only · Spanish 19% Other Indo-European 1% German/W. Germanic 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: ▼ -166.08%
• Current HPI: 239.2019
• Rent YoY: ▼ -1.37%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-06-15 Sold (MLS) — Southwest MLS
• 2026-05-16 Pending — Southwest MLS
• 2026-05-14 Listed $239,900 Southwest MLS

Property tax history

+3.2%/yr

Latest (2025): $1,626 · +3.2% YoY. Source: county tax records.