6500 Sage Rd SW Spc 25 · South Valley, NM 87121

$45,900

2 bd · 1.0 ba · 802 sqft · Manufactured · 20 Days on market

Built 1978 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 +3.0/5.0
• Condition / age +2.2/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute & affordable starter home with 2 bedrooms. The bathroom has handicap commodities. Close access to I-40 and !-25. Home is on a land lease ($550 per month). Located at Western Heights mobile home park. No permanent foundation.

Key facts

• Close access to i-40
• Built 1978
• Listed 20 days

Tags

• CLOSE ACCESS TO I-40

Property features AI

Finance

• Financial info: Monthly land lease payment of $550
• HOA & community: Has land lease

Exterior

• Utilities: Electricity connected; Natural gas connected; Public sewer; Public water
• Home design: Single-story; Faces south; Resale property; Mobile home model BRE (56' x 14')
• Construction: Flat roof
• Exterior features: Deck

Interior

• Kitchen: Disposal
• Bedrooms: Main level primary bedroom
• Flooring: Tile flooring; Wood flooring
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Natural gas heating; Evaporative (swamp) cooling
• Interior features: Main level primary bedroom; Single pane windows
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $46k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $950 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $46k).
• Recommended offer: $45k (1.5% below list) — sets the bar for market timing.
• Cap rate 31.1% vs local median 3.9% in South 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 60/100 on livability (#113 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: commute C-, employment D, schools 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 (-1.9%/yr); 259 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).
• This rent runs 32% of the median local income ($61k/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 $317 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($45k) is reasonable based on typical stale-listing flexibility.

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 $45,211 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1978 — 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 F-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. 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: 3.49% ✓
• Cap rate: 31.13%
• Cash-on-cash: 88.70%
• DSCR: 4.95
• GRM: 2.4

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: 85.9%
• Equity multiple: 4.77×
• Total profit: $48,390
• Equity at exit: $6,844

10-year hold

• IRR: 88.4%
• Equity multiple: 8.93×
• Total profit: $101,979
• Equity at exit: $3,969

Cash invested: $12,852 (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 87121

• Home prices YoY: -19.4%
• Rents YoY: -1.9%
• Active inventory: 259
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,604 medium
• Mortgage (P&I): −$241
• Tax est. 1.5%: −$57 /mo · $688/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $950

Break-even live

Break-even rent $402

Max offer price $45,900

Occupancy floor 36%

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1327 Ojo Feliz St SW Albuquerque, NM	2.0	1.0	924	$1,695	$1.83	21d	1	0.49mi
707 Luna Rd SW Unit B Albuquerque, NM	2.0	1.0	800	$1,395	$1.74	14d	1	1.04mi
7412 Central Ave SW Apt 14 Albuquerque, NM	3.0	3.0	800	$1,750	$2.19	3d	1	1.41mi
8200 Bridge Blvd SW Albuquerque, NM	2.0–4.0	2.0	992	$1,234	$1.24	3d	5	1.50mi

Listing history 14 events

1. 2026-06-18
   days on market $45,900 Active 20 DOM
2. 2026-06-17
   days on market $45,900 Active 19 DOM
3. 2026-06-16
   days on market $45,900 Active 18 DOM
4. 2026-06-15
   days on market $45,900 Active 17 DOM
5. 2026-06-13
   days on market $45,900 Active 15 DOM
6. 2026-06-10
   days on market $45,900 Active 12 DOM
7. 2026-06-09
   days on market $45,900 Active 11 DOM
8. 2026-06-08
   days on market $45,900 Active 10 DOM
9. 2026-06-07
   days on market $45,900 Active 9 DOM
10. 2026-06-05
    days on market $45,900 Active 6 DOM
11. 2026-06-03
    days on market $45,900 Active 5 DOM
12. 2026-06-02
    days on market $45,900 Active 4 DOM
13. 2026-06-01
    days on market $45,900 Active 3 DOM
14. 2026-05-31
    days on market $45,900 Active 2 DOM

ⓘ 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 ≥95°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: $19,248
• − Mortgage interest: −$2,571
• − Property taxes: −$688
• − Insurance: −$230
• − Repairs & maintenance: −$1,540
• − Management: −$1,540
• − Depreciation: −$1,335
• Taxable income: $11,344
• Est. tax owed @ 24.0%: −$2,723
• After-tax cash flow: $8,677/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 to improve its condition and increase its value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Minor interior walls — Some paint chipping

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both replace worn flooring — Improves comfort and value
• Both update kitchen appliances — Modernizes and increases value
• Both update bathrooms — Modernizes and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior walls · Some paint chipping	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both replace worn flooring — Improves comfort and value ↑
• Both update kitchen appliances — Modernizes and increases value ↑
• Both update bathrooms — Modernizes and increases value ↑

ⓘ 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 — South Valley

• Score: 60/100
• State rank: #113
• US rank: #19456

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bernalillo County · 647,165 people
• City population: 54,215
• Metro: Albuquerque, NM
• Population (ZIP): 75,510
• Household income: $60,796
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 1617.0

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: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 32% White 9% Native American 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 53% English-only · Spanish 44% Tagalog/Filipino 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: ▼ -62.80%
• Current HPI: 261.8123
• Rent YoY: ▼ -1.86%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-03 Listed $45,900 Southwest MLS