10200 2nd St NW Trlr 43 · North Valley, NM 87114

$140,000

3 bd · 2.0 ba · 1,640 sqft · Manufactured · 47 Days on market

Built 1998 Good condition $85/sqft · 39% below area Est $230k · 39% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully remodeled 3 bed, 2 bath double wide mobile home in the NW Valley offering a bright, fresh, modern feel from the moment you walk in. This move in ready home features a new roof, updated flooring and walls, fresh interior paint, and a fully renovated kitchen and bathrooms with stylish finishes. The spacious primary bedroom includes a large en suite bathroom, while the open living area creates a comfortable flow for everyday living. Lease lot base is $650 per month. Home is occupied, please do not approach occupants. Cash or chattel loan only, it does NOT qualify for FHA. Refrigerator washer and dryer do not convey. Sellers will replace refrigerator with a regular used unit.

Key facts

• Convenient location
• New roof
• Built 1998

Tags

• REMODELED MOBILE HOME
• NEW ROOF
• FULLY RENOVATED KITCHEN
• FULLY RENOVATED BATHROOMS
• CONVENIENT LOCATION

🏷️ Possibly a rental listed for sale. The $140,000 price doesn't fit this home's estimated sale value (~$229,566) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $762 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 1.9% in North Valley — 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 67/100 on livability (#28 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: schools C-, crime F, amenities 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 (-2.5%/yr); 334 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• This rent runs 34% of the median local income ($84k/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 $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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.
6. 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.
7. 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: 1.70% ✓
• Cap rate: 14.13%
• Cash-on-cash: 27.99%
• DSCR: 2.25
• GRM: 4.9

CMA / ARV

• ARV (median comp): $229,566
• List price: $140,000
• Delta: -39.02%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
420 Robin Meadow St NW	0.57mi	3/2.0	1,680 (+2%)	14mo	$358,000	$213	58

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: 12.7%
• Equity multiple: 1.49×
• Total profit: $19,022
• Equity at exit: $20,874

10-year hold

• IRR: 18.9%
• Equity multiple: 2.34×
• Total profit: $52,637
• Equity at exit: $12,105

Cash invested: $39,200 (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 87114

• Rents YoY: -2.5%
• Active inventory: 334
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,382 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $762

Break-even live

Break-even rent $1,417

Max offer price $140,000

Occupancy floor 63%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8801 Horizon Way NE Unit 8839 Horizon Albuquerque, NM	3.0	2.5	1731	$2,750	$1.59	43d	1	0.89mi
9100 San Mateo Blvd NE Albuquerque, NM	1.0–2.0	1.0–2.5	1063	$2,433	$2.29	1d	12	1.39mi

Listing history 1 events

1. 2026-03-27
   listed $140,000 Active 692-char remark

   Show marketing remark (692 chars)

   Beautifully remodeled 3 bed, 2 bath double wide mobile home in the NW Valley offering a bright, fresh, modern feel from the moment you walk in. This move in ready home features a new roof, updated flooring and walls, fresh interior paint, and a fully renovated kitchen and bathrooms with stylish finishes. The spacious primary bedroom includes a large en suite bathroom, while the open living area creates a comfortable flow for everyday living. Lease lot base is $650 per month. Home is occupied, please do not approach occupants. Cash or chattel loan only, it does NOT qualify for FHA. Refrigerator washer and dryer do not convey. Sellers will replace refrigerator with a regular used unit.

ⓘ 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 AH · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 19 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: $28,587
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$2,524
• − Repairs & maintenance: −$2,287
• − Management: −$2,287
• − Depreciation: −$4,073
• Taxable income: $7,474
• Est. tax owed @ 24.0%: −$1,794
• After-tax cash flow: $7,356/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready, remodeled mobile home offers a modern and bright interior with updated appliances and finishes. It's in good condition with minor cosmetic improvements needed.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Replace refrigerator — Sellers will replace with a used unit, improving functionality
• Both Add smart home devices — Improves convenience and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Replace refrigerator — Sellers will replace with a used unit, improving functionality ↑
• Both Add smart home devices — Improves convenience and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — North Valley

• Score: 67/100
• State rank: #28
• US rank: #10375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Valley, NM
• County: Bernalillo County · 647,165 people
• Metro: Albuquerque, NM
• Population (ZIP): 70,117
• Household income: $84,277
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 2293.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 46% White 40% Two or more races 21% Native American 4% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 23% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 83% English-only · Spanish 13% 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: ▼ -227.99%
• Current HPI: 232.3689
• Rent YoY: ▼ -2.45%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-27 Listed $140,000 Southwest MLS