7112 Pan American NE #20 · Albuquerque, NM 87109

$5,900

2 bd · 2.0 ba · 1,008 sqft · Manufactured · 171 Days on market

Built 1972 $6/sqft · 92% below area ↓ 52% 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL! Demo is complete and ready for your remodeling! Unit can not be moved for 4 years. All residents intending to purchase must be 55+ and apply to be approved via application through Albuquerque Meadows. Park rent is $1030/month plus utilities at $45 base price + usageHome can not be moved!

Key facts

• Parking
• Community pool
• Built 1972

🏷️ Possibly a rental listed for sale. The $5,900 price doesn't fit this home's estimated sale value (~$78,032) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $6k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $6k).
• Recommended offer: $5k (12.0% below list) — sets the bar for market timing.
• Cap rate 294.9% 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; 14 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 38% 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 $41 of loan paydown is wiped out by about $177 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($5k) is reasonable based on typical stale-listing flexibility.

Recommended offer $5,192 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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: 31.32% ✓
• Cap rate: 294.93%
• Cash-on-cash: 1030.86%
• DSCR: 46.87
• GRM: 0.3

CMA / ARV

• ARV (median comp): $78,032
• List price: $5,900
• Delta: -92.44%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7112 Pan American NE #230	0.00mi	2/3.0	980 (-3%)	3mo	$15,000	$15	89
7112 Pan American East NE Unit 345	0.00mi	3/2.0 (+1)	1,060 (+5%)	2mo	$130,000	$123	85
7112 E Pan American Fwy NE #259	0.00mi	2/1.0	910 (-10%)	8mo	$26,000	$29	74

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: —
• Equity multiple: 51.87×
• Total profit: $84,042
• Equity at exit: $880

10-year hold

• IRR: —
• Equity multiple: 103.15×
• Total profit: $168,753
• Equity at exit: $510

Cash invested: $1,652 (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: 0.3×

Monthly cashflow live

• Estimated rent: $1,848 high
• Mortgage (P&I): −$31
• Tax est. 1.5%: −$7 /mo · $88/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $1,419

Break-even live

Break-even rent $52

Max offer price $5,900

Occupancy floor 18%

Sensitivity live

Price	-10% $1,423	-5% $1,421	+0% $1,419	+5% $1,417	+10% $1,415
Rent	-10% $1,273	-5% $1,346	+0% $1,419	+5% $1,492	+10% $1,565
Rate	-1.0pp $1,422	-0.5pp $1,421	base $1,419	+0.5pp $1,418	+1.0pp $1,416

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: $1,475
• Closing costs: $177
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6401 Santa Monica Ave NE Albuquerque, NM	1.0–2.0	1.0–2.0	1068	$2,151	$2.01	4d	26	0.35mi
6501 San Antonio Dr NE Albuquerque, NM	2.0	2.0–2.5	1075	$1,875	$1.74	15d	2	0.55mi
7501 Jefferson St NE Albuquerque, NM	2.0	1.0–2.0	887	$2,291	$2.58	4d	38	0.73mi
7000 Louisiana Blvd NE Albuquerque, NM	1.0–2.0	1.0–2.0	840	$1,709	$2.03	4d	25	0.79mi
7100 Louisiana Blvd NE Albuquerque, NM	1.0–2.0	1.0–2.0	763	$1,790	$2.35	4d	15	0.80mi
7800 Headline Blvd NE Albuquerque, NM	2.0	1.0–2.0	961	$2,343	$2.44	4d	16	0.81mi
6441 Palomas Ave NE Albuquerque, NM	1.0	1.0–1.5	758	$2,088	$2.75	4d	2	0.92mi
6401 Academy Rd NE Albuquerque, NM	3.0	1.0–2.0	808	$1,560	$1.93	4d	16	0.97mi
5741 Osuna Rd NE Albuquerque, NM	1.0–2.0	1.0–2.0	769	$1,565	$2.03	4d	17	1.01mi
6500 Martin Ct NE Albuquerque, NM	3.0	2.0	1376	$2,850	$2.07	44d	1	1.05mi
5828 Elmwood Dr NE Albuquerque, NM	2.0	2.0	1236	$1,790	$1.45	24d	1	1.11mi
5800 Osuna Rd NE Albuquerque, NM	1.0–2.0	1.0–2.0	820	$1,555	$1.90	4d	23	1.20mi
4949 San Pedro Dr NE Albuquerque, NM	1.0–2.0	1.0–2.0	900	$1,495	$1.66	4d	9	1.35mi
5324 San Mateo Blvd NE Albuquerque, NM	1.0–2.0	1.0–2.0	748	$1,691	$2.26	4d	27	1.41mi

Listing history 18 events

1. 2026-06-18
   days on market $5,900 Active 171 DOM
2. 2026-06-17
   days on market $5,900 Active 170 DOM
3. 2026-06-16
   days on market $5,900 Active 169 DOM
4. 2026-06-15
   days on market $5,900 Active 168 DOM
5. 2026-06-13
   days on market $5,900 Active 166 DOM
6. 2026-06-10
   days on market $5,900 Active 163 DOM
7. 2026-06-09
   days on market $5,900 Active 162 DOM
8. 2026-06-08
   days on market $5,900 Active 161 DOM
9. 2026-06-07
   days on market $5,900 Active 160 DOM
10. 2026-06-05
    days on market $5,900 Active 157 DOM
11. 2026-06-03
    days on market $5,900 Active 156 DOM
12. 2026-06-02
    days on market $5,900 Active 155 DOM
13. 2026-06-01
    days on market $5,900 Active 154 DOM
14. 2026-05-31
    days on market $5,900 Active 153 DOM
15. 2026-05-04
    price $6,000 306-char remark

    Show marketing remark (306 chars)

    INVESTOR SPECIAL! Demo is complete and ready for your remodeling! Unit can not be moved for 4 years. All residents intending to purchase must be 55+ and apply to be approved via application through Albuquerque Meadows. Park rent is $1030/month plus utilities at $45 base price + usageHome can not be moved!

16. 2026-03-05
    price $10,500 306-char remark

    Show marketing remark (306 chars)

    INVESTOR SPECIAL! Demo is complete and ready for your remodeling! Unit can not be moved for 4 years. All residents intending to purchase must be 55+ and apply to be approved via application through Albuquerque Meadows. Park rent is $1030/month plus utilities at $45 base price + usageHome can not be moved!

17. 2026-02-02
    price $11,500 306-char remark

    Show marketing remark (306 chars)

    INVESTOR SPECIAL! Demo is complete and ready for your remodeling! Unit can not be moved for 4 years. All residents intending to purchase must be 55+ and apply to be approved via application through Albuquerque Meadows. Park rent is $1030/month plus utilities at $45 base price + usageHome can not be moved!

18. 2025-12-11
    listed $12,500 Active 306-char remark

    Show marketing remark (306 chars)

    INVESTOR SPECIAL! Demo is complete and ready for your remodeling! Unit can not be moved for 4 years. All residents intending to purchase must be 55+ and apply to be approved via application through Albuquerque Meadows. Park rent is $1030/month plus utilities at $45 base price + usageHome can not be moved!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 3 d/yr ≥95°F today · 7 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,176
• − Mortgage interest: −$330
• − Property taxes: −$88
• − Insurance: −$30
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − Depreciation: −$172
• Taxable income: $18,008
• Est. tax owed @ 24.0%: −$4,322
• After-tax cash flow: $12,708/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

-52.0% since first listed

4 events — show timeline

• 2026-05-04 Price Changed $6,000 Southwest MLS
• 2026-03-05 Price Changed $10,500 Southwest MLS
• 2026-02-02 Price Changed $11,500 Southwest MLS
• 2025-12-11 Listed $12,500 Southwest MLS