1 year on rocket

1100 Palomas Dr SE, Albuquerque, NM, 87108

$925,488

Home List Price

$10,000*

Closing Credit

2 Bedrooms
1 Bath
7,720 SqFt
$120/SqFt
Multi
Schools Nearby

Location

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1100 Palomas Dr SE, Albuquerque$925,488

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1955
HeatingCentral, Forced Air
CoolingCentral Air
MLS #1033316
Lot Size0.56 Acres
StatusActive

About 1100 Palomas Dr SE

The prior owner remodeled the property with a new TPO roof, new soffits, new windows, synthetic stucco, new solid laminate flooring, updated lighting, updated electrical, as well as replacing some of the hot water heaters, and new central forced air furnaces.Measures of investment performance at ask price of $925,488 and current average rent of $806 are a GRM of 9.57, a 5.97% cap rate, $92,549 per unit, $119.88/sf. If rents are raised to the market of $950, the measures of investment performance improve to a cap rate of 7.41%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks away

Property Details

Property Features

Property Information:

  • Year Built: 1955
  • Stories: 1
  • Living Area: 7,720 SqFt

Listing Office:

  • Office Name: NM Apartment Advisors, Inc.
  • Office Phone: (505) 440-8633
  • Listing Agent: Todd D Clarke

Interior Features

Interior Information:

  • Appliances: Refrigerator
  • Basement: No
  • Flooring Type: Vinyl

Bedroom and Bathroom Information:

  • Total Bedroom Count: 2

Exterior Features

Exterior Information:

  • Exterior: Landscaping

Lot Features

Lot Information:

  • Lot Size: 0.56 Acres

Utilities

Utilities Information:

  • Heating: Central, Forced Air
  • Cooling: Central Air

School Info

Assigned Schools Information:

  • Highland High School, Public District Grades 9-12
  • Nex Gen Academy, Public District Grades 9-12
  • Wilson Middle School, Public District Grades 6-8
  • Whittier Elementary School, Public District Grades KG-5
  • Coronado Elementary School, Public District Grades KG-5

Other

Directions Information:

  • Directions: From I-40 and Gibson - east to San Mateo, north to Eastern, east to Palomas.

Price Information

Listing Price Info

Price Summary:

  • List Price: $925,488
  • Price Per SqFt: $120/SqFt
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Housing Market Comparison

See how this home compares to others in Albuquerque, NM.

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Albuquerque, NM

City

Med. Sold Price

$335.6K

Med. Price/SqFt

$200

Avg. Days On Market

27

# of Sold Homes

479

1100 Palomas Dr SE vs Albuquerque

365 DAYS ON ROCKET

+338 Days

$925,488

+$589.7K More

$120/SqFt

-$80 Less

KEY TAKEAWAY

This property is $589.7K more than the Median Sold Price and $80/SqFt less than other homes in Albuquerque, NM.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: SWMLS
  • MLS Number: #1033316

Listing Office:

  • Office Name: NM Apartment Advisors, Inc.
  • Office Phone: (505) 440-8633
  • Listing Agent: Todd D Clarke

IDXThe data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed.

Copyright © 2024 Southwest Multiple Listing Service. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/27/2024, 7:25:13 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$4,687

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,841

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-1089389
4
/10

  • Whittier Elementary School

  • 1110 Quincy St SE

  • 0.35 miles

  • Public District Grades KG-5

school-card-donut-1089390
6
/10

  • Coronado Elementary School

  • 601 4th St SW

  • 4.13 miles

  • Public District Grades KG-5

Middle School

school-card-donut-1089391
3
/10

  • Wilson Middle School

  • 1138 Cardenas Dr SE

  • 0.26 miles

  • Public District Grades 6-8

High School

school-card-donut-1089392
3
/10

  • Highland High School

  • 4700 Coal Ave SE

  • 0.97 miles

  • Public District Grades 9-12

school-card-donut-1089393
8
/10

  • Nex Gen Academy

  • 5323 Montgomery Blvd NE

  • 4.87 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $15,818. The most common annual income of people living in Albuquerque, NM is less than $35k. The most common type of family is single, no kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›New Mexico›Bernalillo County›Albuquerque›87108›1100 Palomas Dr SE

This home is located at 1100 Palomas Dr SE in Albuquerque, NM and zip code 87108 in the South San Pedro neighborhood. This 7,720 square foot home, which was built in 1955, sits on a 0.56 acre lot. Features: 2 bedrooms, 1 bathroom. It has been listed on Rocket Homes since April 27, 2023 and is currently priced at $925,488.

Over 141 listings were sold over their listed price in March 2024 in Albuquerque, NM. In the same period over 217 listings were sold below the listed price and 121 listings were sold for the listed price. In March 2024 in Albuquerque, NM there were 8.3% less homes for sale than in February 2024. In March 2024 median list price was $335,689 and the average listing age was 27 days.

From Rocket Homes Real Estate and based on county public records data.

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