500 Tyler Rd NE #27 · North Valley, NM 87113

$119,900

3 bd · 2.0 ba · 1,680 sqft · Manufactured · 34 Days on market

Built 1992 Fair condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.4/5.0
• Condition / age +2.2/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is ready for a new owner, it has an open floor plan, new carpet, and fresh paint, and an ATTACHED 2 CAR GARAGE. The home sits on a corner lot allowing for a lot of natural light throughout. There is easy access to the garage and two large parking spaces in front. The home has a fenced backyard and covered patio, perfect for morning coffee or enjoying the sunset. The attached 2 car garage has plenty of storage in addition to the two large bays for your vehicles. Come see it today! Lot is rented, estimated rent $800/month.

Key facts

• 2 garage spots
• Built 1992
• Listed 34 days

Property features AI

Finance

• Financial info: Monthly land lease: $800
• HOA & community: Has land lease

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-story; Resale property; Faces south; Mobile home model: Palm (60' x 28')
• Construction: Pitched shingle roof; Built by Palm Harbor
• Exterior features: Covered patio

Interior

• Kitchen: Free-standing gas range; Refrigerator; Pantry
• Bedrooms: Primary bedroom on main level
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Central heating (forced air); Evaporative cooling
• Interior features: Bookcases; Ceiling fans; Garden/roman tub; Main-level primary bedroom; Pantry; Walk-in closets; Metal windows
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.6% 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 (-2.3%/yr); 63 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• This rent runs 31% of the median local income ($96k/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 $829 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 $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 2.07% ✓
• Cap rate: 17.58%
• Cash-on-cash: 40.32%
• DSCR: 2.79
• GRM: 4.0

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: 33.3%
• Equity multiple: 2.35×
• Total profit: $45,192
• Equity at exit: $17,877

10-year hold

• IRR: 38.6%
• Equity multiple: 4.10×
• Total profit: $103,962
• Equity at exit: $10,367

Cash invested: $33,572 (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 87113

• Home prices YoY: -18.4%
• Rents YoY: -2.3%
• Active inventory: 63
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,477 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $1,128

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 49%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6800 Vista Del Norte Dr NE Unit 622 Albuquerque, NM	2.0	2.0	1157	$1,795	$1.55	3d	1	0.57mi
1512 Vista Monte Dr NE Albuquerque, NM	4.0	2.5	1971	$2,275	$1.15	43d	1	0.64mi
7701 Majesty Ct NW Albuquerque, NM	4.0	2.0	2200	$3,200	$1.45	3d	1	0.69mi
1412 Stone Canyon Rd NE Albuquerque, NM	3.0	2.5	1572	$2,200	$1.40	19d	1	0.83mi
1316 Bernardo Ct NE Albuquerque, NM	4.0	2.5	2000	$2,695	$1.35	21d	1	0.85mi
220 Roehl Rd NW Albuquerque, NM	4.0	3.0	2184	$2,500	$1.14	43d	1	1.00mi

Listing history 21 events

1. 2026-06-18
   days on market $119,900 Active 34 DOM
2. 2026-06-17
   price $119,900 Active 33 DOM
3. 2026-06-17
   days on market $124,900 Active 33 DOM
4. 2026-06-16
   days on market $124,900 Active 32 DOM
5. 2026-06-15
   days on market $124,900 Active 31 DOM
6. 2026-06-13
   days on market $124,900 Active 29 DOM
7. 2026-06-10
   days on market $124,900 Active 26 DOM
8. 2026-06-09
   days on market $124,900 Active 25 DOM
9. 2026-06-08
   days on market $124,900 Active 24 DOM
10. 2026-06-07
    days on market $124,900 Active 23 DOM
11. 2026-06-05
    days on market $124,900 Active 20 DOM
12. 2026-06-03
    days on market $124,900 Active 19 DOM
13. 2026-06-02
    days on market $124,900 Active 18 DOM
14. 2026-06-01
    days on market $124,900 Active 17 DOM
15. 2026-05-31
    days on market $124,900 Active 16 DOM
16. 2026-05-22
    status Active
17. 2026-04-23
    status Pending
18. 2026-04-16
    listed $124,900 Active
19. 2025-04-25
    status Pending 538-char remark

    Show marketing remark (538 chars)

    This home is ready for a new owner, it has an open floor plan, new carpet, and fresh paint, and an ATTACHED 2 CAR GARAGE. The home sits on a corner lot allowing for a lot of natural light throughout. There is easy access to the garage and two large parking spaces in front. The home has a fenced backyard and covered patio, perfect for morning coffee or enjoying the sunset. The attached 2 car garage has plenty of storage in addition to the two large bays for your vehicles. Come see it today! Lot is rented, estimated rent $800/month.

20. 2025-04-15
    price $114,900 538-char remark

    Show marketing remark (538 chars)

    This home is ready for a new owner, it has an open floor plan, new carpet, and fresh paint, and an ATTACHED 2 CAR GARAGE. The home sits on a corner lot allowing for a lot of natural light throughout. There is easy access to the garage and two large parking spaces in front. The home has a fenced backyard and covered patio, perfect for morning coffee or enjoying the sunset. The attached 2 car garage has plenty of storage in addition to the two large bays for your vehicles. Come see it today! Lot is rented, estimated rent $800/month.

21. 2025-03-05
    listed $119,000 Active 538-char remark

    Show marketing remark (538 chars)

    This home is ready for a new owner, it has an open floor plan, new carpet, and fresh paint, and an ATTACHED 2 CAR GARAGE. The home sits on a corner lot allowing for a lot of natural light throughout. There is easy access to the garage and two large parking spaces in front. The home has a fenced backyard and covered patio, perfect for morning coffee or enjoying the sunset. The attached 2 car garage has plenty of storage in addition to the two large bays for your vehicles. Come see it today! Lot is rented, estimated rent $800/month.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°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: $29,720
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$2,378
• − Management: −$2,378
• − Depreciation: −$3,488
• Taxable income: $12,363
• Est. tax owed @ 24.0%: −$2,967
• After-tax cash flow: $10,569/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

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance, with potential for significant value increase through updates to interior walls, flooring, and landscaping.

Repairs flagged

• Moderate Kitchen cabinets — Worn condition
• Moderate Bathroom vanity — Worn condition
• Moderate Exterior siding — Weathered appearance
• Moderate Windows — Worn condition

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace carpeted flooring — New flooring improves comfort and value.
• Both Landscaping improvements — Enhances curb appeal and adds value to the property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn condition	Moderate	$3,000–15,000
Bathroom vanity · Worn condition	Moderate	$3,000–15,000
Exterior siding · Weathered appearance	Moderate	$3,000–15,000
Windows · Worn condition	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace carpeted flooring — New flooring improves comfort and value. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑

ⓘ 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): 16,074
• Household income: $95,922
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 392.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 41% Hispanic / Latino 28% Two or more races 20% Asian 19% Native American 4% Black 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 5% Italian 4% Serbian 3%
• Foreign-born: 17% · Vietnam, China, Canada
• Languages at home: 72% English-only · Spanish 9% Vietnamese 7% Chinese 4%

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: ▼ -55.29%
• Current HPI: 244.7283
• Rent YoY: ▼ -2.32%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+5.0% since first listed

6 events — show timeline

• 2026-05-22 Relisted — Southwest MLS
• 2026-04-23 Pending — Southwest MLS
• 2026-04-16 Listed $124,900 Southwest MLS
• 2025-04-25 Pending — Southwest MLS
• 2025-04-15 Price Changed $114,900 Southwest MLS
• 2025-03-05 Listed $119,000 Southwest MLS