1308 Wilmoore Dr SE · Albuquerque, NM 87106

$269,900

4 bd · 2.0 ba · 1,214 sqft · Other public records · 2 Days on market

Built 1950 6,499 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 +12.6/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• DSCR +3.8/10.0
• Livability +3.6/5.0
• 1% rule +2.6/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare opportunity to own a 4-bedroom home under $300K in UNM South. Refinished wood floors, fresh interior paint, abundant natural light, & a flexible floor plan create a warm, inviting feel. The primary suite features a kiva fireplace, wood viga ceiling, and direct patio access. Three of four bedrooms offer larger walk-in closets, while ceiling fans throughout enhance comfort. Wood floors in living areas/3BDRM's, tile in wet areas, and laminate wood-look flooring in the fourth bedroom. Covered front porch, rear patio, pantry, and exterior doors keyed alike. Approx. half a mile from University Stadium and minutes from UNM, Nob Hill, dining, parks, and entertainment. Character, space, an

Key facts

• Wood viga ceiling
• Flexible floor plan
• Kiva fireplace

Tags

• REFINISHED WOOD FLOORS
• FLEXIBLE FLOOR PLAN
• KIVA FIREPLACE
• WOOD VIGA CEILING
• DIRECT PATIO ACCESS
• LARGER WALK-IN CLOSETS

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-story home; Entry level: 1; Faces west; Resale property
• Construction: Built (year source: appraiser); Frame and stucco construction; Shingle roof; Permanent foundation
• Exterior features: Covered patio; Patio; Shed(s); Back yard fencing; Landscaped lot with few trees; City street frontage (paved)

Interior

• Kitchen: Dishwasher; Free‑standing gas range
• Bedrooms: Up to 4 bedrooms possible (main level noted)
• Flooring: Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Evaporative cooling
• Interior features: Beamed ceilings; Ceiling fan(s); Main level primary suite; Walk-in closet(s); Metal and wood window frames
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $270k.

Deal economics

• At list price, monthly cash flow is $-35 ($-421/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (24.1% below list).
• Recommended offer: $205k (24.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 flat; 183 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• At $2,047/mo this rent would consume 49% of the median local household income ($50k/yr) (locally 2859% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,743 (24.1% 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 1950 — 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: 0.76% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.98
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.5% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.32×
• Total profit: $-51,093
• Equity at exit: $40,243

10-year hold

• IRR: -18.3%
• Equity multiple: 0.11×
• Total profit: $-67,383
• Equity at exit: $23,336

Cash invested: $75,572 (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 87106

• Rents YoY: 0.5%
• Active inventory: 183
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,047 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$125 /mo · $1,496/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-35

Break-even live

Break-even rent $2,092

Max offer price $263,707

Occupancy floor 97%

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2124 Eton Ave SE Unit 1-F Albuquerque, NM	3.0	2.0	1300	$2,600	$2.00	43d	1	0.54mi
2124 Eton Ave SE Albuquerque, NM	3.0	2.0	1300	$2,200	$1.69	43d	1	0.54mi
3209 Burton Ave SE Unit 3219 1/2 Albuquerque, NM	3.0	1.0	800	$1,050	$1.31	3d	1	0.90mi
2101 Elm St SE Apt A Albuquerque, NM	3.0	1.5	1200	$1,450	$1.21	43d	1	0.98mi
2009 High St SE Unit B Albuquerque, NM	4.0	1.5	1000	$2,036	$2.04	23d	1	1.03mi
301 Yale Blvd NE Unit PG3000412 Albuquerque, NM	3.0	1.0	960	$1,600	$1.67	23d	1	1.21mi
3003 Transport St SE Albuquerque, NM	5.0	1.0–5.0	1083	$2,140	$1.97	43d	4	1.28mi
423 Walter St SE Albuquerque, NM	3.0	2.0	1420	$2,599	$1.83	43d	1	1.42mi
317 Morningside Dr SE Albuquerque, NM	3.0	2.0	1322	$2,200	$1.66	43d	1	1.46mi

Listing history 4 events

1. 2026-06-02
   status $269,900 Pending 2 DOM
2. 2026-06-01
   days on market $269,900 Active 2 DOM
3. 2026-05-31
   remarks 695-char remark
4. 2026-05-31
   listed $269,900 Active 1 DOM

ⓘ 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: $1,496 · $125/mo
• Projected year-2 tax: $2,159 · $180/mo
• Expected delta: +$663/yr (+$55/mo · 44.3%)

ⓘ 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 5/10 Major 6 d/yr ≥95°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: $24,569
• − Mortgage interest: −$15,119
• − Property taxes: −$1,496
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − Depreciation: −$7,852
• Taxable loss: −$5,178
• Est. tax savings @ 24.0%: +$1,243
• After-tax cash flow: $822/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): 26,953
• Household income: $49,781
• Rent vs Own: 61.5% rent · 38.5% own
• Severe rent burden: 2859.0

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 46% Hispanic / Latino 39% Two or more races 16% Native American 5% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 77% English-only · Spanish 15% Other Indo-European 1% Vietnamese 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: ▼ -420.04%
• Current HPI: 245.4275
• Rent YoY: ▲ 0.50%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-04-28 Listed $269,900 Southwest MLS
• 2005-09-16 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,496 · +3.2% YoY. Source: county tax records.