10 months on rocket

1132 Palomas Dr SE, Albuquerque, NM, 87108

$949,530

Home List Price

$10,000*

Closing Credit

2 Bedrooms
1 Bath
7,646 SqFt
$124/SqFt
Multi
Schools Nearby

Location

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1132 Palomas Dr SE, Albuquerque$949,530

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1958
HeatingWall Furnace
CoolingEvaporative Cooling
MLS #1036059
Lot Size0.52 Acres
StatusActive

About 1132 Palomas Dr SE

10 unit, recently renovated community which is located near the new Max-Q mixed-use development.Measures of investment performance at ask price of $949,530 and current average rent of $808 are a GRM of 9.79, a 6.04% cap rate, $94,530 per unit, $124.19/sf. If rents are raised to the market of $925, the measures of investment performance improve to a cap rate of 7.14%.10 additional units available on opposite end of the block.The property is located jus a couple of blocks away from the new, under construction headquarters for the Albuquerque Community Safety (ACS), a new city department dedicated to helping the homeless that responds to 911 calls for mental health, substance use, and homelessness issues.

Property Details

Property Features

Property Information:

  • Year Built: 1958
  • Stories: 1
  • Living Area: 7,646 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: Tile, Vinyl

Bedroom and Bathroom Information:

  • Total Bedroom Count: 2

Lot Features

Lot Information:

  • Lot Size: 0.52 Acres

Utilities

Utilities Information:

  • Heating: Wall Furnace
  • Cooling: Evaporative Cooling

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-25 and Gibson, east to Palomas, north to property.

Price Information

Listing Price Info

Price Summary:

  • List Price: $949,530
  • Price Per SqFt: $124/SqFt

Tax Information:

  • Annual Amount: $5,726
  • Tax Year: 2020
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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

1132 Palomas Dr SE vs Albuquerque

319 DAYS ON ROCKET

+292 Days

$949,530

+$613.8K More

$124/SqFt

-$76 Less

KEY TAKEAWAY

This property is $613.8K more than the Median Sold Price and $76/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: #1036059

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, 3:25:14 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jul 31, 2003Home Sold
$350,000

Tax History

YEARPROP. TAXASSESSMENT
2020$5,726$133,486
2019$5,686$133,486
2018$3,243$133,486
2017$3,243$76,251

History based on county public records data.

Payment Calculator

$4,807

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,913

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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-1005150
4
/10

  • Whittier Elementary School

  • 1110 Quincy St SE

  • 0.37 miles

  • Public District Grades KG-5

school-card-donut-1005151
6
/10

  • Coronado Elementary School

  • 601 4th St SW

  • 4.16 miles

  • Public District Grades KG-5

Middle School

school-card-donut-1005152
3
/10

  • Wilson Middle School

  • 1138 Cardenas Dr SE

  • 0.23 miles

  • Public District Grades 6-8

High School

school-card-donut-1005153
3
/10

  • Highland High School

  • 4700 Coal Ave SE

  • 0.98 miles

  • Public District Grades 9-12

school-card-donut-1005154
8
/10

  • Nex Gen Academy

  • 5323 Montgomery Blvd NE

  • 4.86 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. Most Albuquerque, NM residents have annual incomes less than $35k. Most families are single, no kids. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›New Mexico›Bernalillo County›Albuquerque›87108›1132 Palomas Dr SE

This home is located at 1132 Palomas Dr SE in Albuquerque, NM and zip code 87108 in the South San Pedro neighborhood. This 7,646 square foot home, which was built in 1958, sits on a 0.52 acre lot. Features: 2 bedrooms, 1 bathroom. It has been listed on Rocket Homes since June 13, 2023 and is currently priced at $949,530.

Albuquerque, NM housing market in March 2024 saw over 141 listings sold above listed price, more than 121 sold at listed price and over 217 sold below. The inventory of homes for sale in Albuquerque, NM between February 2024 and March 2024 decreased by 8.3%. The median list price of listings available in March 2024 was $335,689, while the average time on the real estate market was 27 days.

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

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