1 year on rocket

1100 Palomas Dr SE, Albuquerque, NM, 87108

$963,138

Home List Price

$10,000*

Closing Credit

2 Bedrooms
1 Bath
7,720 SqFt
$125/SqFt
Multi

Location

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1100 Palomas Dr SE, Albuquerque$963,138

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

Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which recently moved into its new office building a few blocks away.Measures of investment performance at ask price of $963,138 and current average rent of $917 are a GRM of 8.75, a 5.98% cap rate, $96,314 per unit, $128.42/sf. Rents have increased 13.7% in the last year.If rents are raised to the market of $1,075, the measures of investment performance improve to a cap rate of 7.37%.The prior owner remodeled the property with 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.

Property Details

Property Features

Property Information:

  • Year Built: 1955
  • 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

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: $963,138
  • Price Per SqFt: $125/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

$344K

Med. Price/SqFt

$204

Avg. Days On Market

33

# of Sold Homes

530

1100 Palomas Dr SE vs Albuquerque

570 DAYS ON ROCKET

+537 Days

$963,138

+$619.1K More

$125/SqFt

-$80 Less

KEY TAKEAWAY

This property is $619.1K 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: 11/18/2024, 4:20:47 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

$4,874

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,954

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NMLS#3030

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.

Nearby Schools

school-card-donut-711381
4
/10

  • Whittier Elementary School

  • 1110 Quincy St SE

  • 0.36 miles

  • Public District Grades PK-5

school-card-donut-711382
2
/10

  • Emerson Elementary School

  • 620 Georgia St SE

  • 0.78 miles

  • Public District Grades PK-5

school-card-donut-711383
1
/10

  • Wherry Elementary School

  • Bldg 25000th Kafb East

  • 1.19 miles

  • Public District Grades PK-5

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. Typical family type is single, no kids. Typical level of education for residents in this area is high school diploma.

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 $963,138.

In October 2024, from all listings sold in Albuquerque, NM there were more than 94 sold above asking price, over 288 sold below and more than 148 were sold right at the asked price. Between September 2024 and October 2024, Albuquerque, NM real estate market has seen decrease in the number of listings by 8.2%. In October 2024 median list price was $344,019 and the average listing age was 33 days.

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

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