NOT LISTED FOR SALE

140 Palacio Rd Corrales, NM 87048

Estimated Value: $940,000 - $969,000

4 Beds
3.5 Baths
3,563 Sq Ft
$267/Sq Ft Est. Value

Last Sold September 09, 2025

Current estimated payment $5,402/month

280 Days on Market

Highlights

  • Heated In Ground Pool
  • Sitting Area In Primary Bedroom
  • Hydromassage or Jetted Bathtub
  • Corrales Elementary School Rated A-
  • Wood Burning Stove
  • 4 Fireplaces

About This Home

As of September 2025

Nestled in the heart of Corrales, this stunning NM-style adobe home at 140 Palacio offers timeless charm and modern elegance. Featuring authentic wood beams and classic adobe construction, this property captures the essence of Southwestern living. Enjoy breathtaking, unobstructed views of the Sandia Mountains, the Rio Grande Bosque, and the city lights, all from your private oasis. Expansive windows bathe the interior in natural light, connecting you to the outdoors. Perfect for those seeking tranquility and beauty, this home combines traditional architecture with unparalleled scenery.

Last Agent to Sell the Property

Mario Montoya

Casa Montoya Realty License #19687 Listed on: 09/26/2024

Last Buyer's Agent

Carmen Peters

New Mexico Home Group Real Est License #REC20230053

New Mexico Home Group Real Est

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $4,899

Year Built

  • Built in 1989

Lot Details

  • 0.86 Acre Lot
  • Cul-De-Sac
  • South Facing Home
  • Private Entrance
  • Gated Home
  • Property is Fully Fenced
  • Landscaped
  • Private Yard
  • Zoning described as A-1

Parking

  • 3 Car Attached Garage
  • Dry Walled Garage
  • Garage Door Opener

Home Design

  • Northern New Mexico Architecture
  • Flat Roof Shape
  • Frame Construction
  • Adobe

Interior Spaces

  • 3,563 Sq Ft Home
  • Property has 1 Level
  • Beamed Ceilings
  • Ceiling Fan
  • Skylights
  • 4 Fireplaces
  • Wood Burning Stove
  • Thermal Windows
  • Wood Frame Window
  • Entrance Foyer
  • Great Room
  • Separate Formal Living Room
  • Multiple Living Areas
  • Sitting Room
  • Washer and Gas Dryer Hookup
  • Property Views

Kitchen

  • Breakfast Area or Nook
  • Double Oven
  • Built-In Electric Range
  • Dishwasher
  • Kitchen Island

Flooring

  • Brick
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Sitting Area In Primary Bedroom
  • Walk-In Closet
  • In-Law or Guest Suite
  • Dual Sinks
  • Hydromassage or Jetted Bathtub

Home Security

  • Home Security System
  • Security Gate

Pool

  • Heated In Ground Pool
  • Gunite Pool
  • Pool Cover

Outdoor Features

  • Covered Patio or Porch
  • Outdoor Water Feature
  • Covered Courtyard

Schools

  • Corrales Elementary School
  • Taylor Middle School
  • Cibola High School

Horse Facilities and Amenities

  • Grass Field

Utilities

  • Refrigerated Cooling System
  • Multiple Heating Units
  • Heating System Uses Natural Gas
  • Natural Gas Connected
  • Private Water Source
  • Well
  • Septic Tank
  • Cable TV Available

Community Details

  • Built by Passage

Listing and Financial Details

  • Assessor Parcel Number R049197

Home Details

Home Type

Single Family

Est. Annual Taxes

$4,899

Year Built

Built in 1989

Lot Details

0

Parking

3

Listing Details

  • Property Type: Residential
  • Property Sub Type: Detached
  • Directions: From Coors and Alameda, west on alameda, right on Ellison, Ellison turns into Loma Larga, left on Ashley, turn right on Palacio, property is on the right
  • Year Built: 1989
  • Lot Size Acres: 0.86
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Architectural Style: Northern New Mexico
  • Garage Yn: Yes
  • Unit Levels: One
  • New Construction: No
  • Property Attached Yn: No
  • Property Sub Type Additional: Detached
  • Special Features: VirtualTour

Interior Features

  • Flooring: Brick, Carpet, Tile
  • Appliances: Built-In Electric Range, Double Oven, Dishwasher
  • Interior Amenities: Beamed Ceilings, Breakfast Area, Ceiling Fan(s), Separate/Formal Dining Room, Dual Sinks, Entrance Foyer, Great Room, In-Law Floorplan, Jetted Tub, Kitchen Island, Multiple Living Areas, Main Level Primary, Pantry, Sitting Area in Master, Skylights, Walk-In Closet(s)
  • Stories: 1
  • Accessibility Features: None
  • Basement YN: No
  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Three Quarter Bathrooms: 2
  • Total Bedrooms: 4
  • Fireplace Features: Kiva, Log Lighter, Wood Burning Stove
  • Fireplaces: 4
  • Fireplace: Yes
  • Living Area: 3563.0
  • Dining Room Type: Sitting Room
  • Window Features: Thermal Windows, Wood Frames, Skylight(s)

Exterior Features

  • Exterior Features: Courtyard, Fully Fenced, Private Yard, Water Feature, Private Entrance
  • Roof: Flat
  • Fencing: Gate
  • Lot Features: Cul-De-Sac, Landscaped, Views
  • Pool Features: Gunite, Heated, In Ground, Pool Cover
  • Pool Private: Yes
  • View: Yes
  • Disclosures: RANM 2100 Disclosure
  • Builder Name: Passage
  • Construction Type: Adobe, Frame
  • Direction Faces: South
  • Patio And Porch Features: Covered, Open, Patio
  • Property Condition: Resale

Garage/Parking

  • Garage Spaces: 3.0
  • Attached Garage: Yes
  • Parking Features: Attached, Finished Garage, Garage, Garage Door Opener, Oversized, Storage

Utilities

  • Cooling: Multi Units, Refrigerated
  • Heating: Combination, Multiple Heating Units, Natural Gas
  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Water Connected
  • Water Source: Private, Well
  • Laundry Features: Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup
  • Security: Security System, Security Gate
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Sewer: Septic Tank

Schools

  • Elementary School: Corrales
  • High School: Cibola
  • Middle Or Junior School: Taylor

Green Features

  • Green Power: None

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 37461.6
  • Parcel #: R049197
  • Zoning Description: A-1

Tax Info

  • Tax Annual Amount: 4898.72

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 26, 2024
Closed on
Sep 10, 2025
Sold by
Patricia A Richardson Living Trust and Leach Denice L
Bought by
Peters Michael R and Peters Carmen
Seller's Agent
Mario Montoya
Casa Montoya Realty
Buyer's Agent
Carmen Peters
New Mexico Home Group Real Est
List Price
$1,250,000
Views
273
Current Estimated Value
$951,829

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-4.48%
Original Mortgage
$965,000
Outstanding Balance
$965,000
Interest Rate
4%
Mortgage Type
VA
Estimated Equity
-$13,171

Purchase Details

Closed on
Jan 30, 2004
Sold by
D R Horton Inc
Bought by
Richardson Patricia A
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Peters Michael R -- Fidelity National Title
Richardson Patricia A $154,322 Albuquerque Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Peters Michael R $965,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/09/2025 09/09/25 Sold -- -- --
07/04/2025 07/04/25 Pending -- -- --
06/29/2025 06/29/25 Price Changed $1,075,000 -4.4% $302 / Sq Ft
03/07/2025 03/07/25 Price Changed $1,124,999 -6.2% $316 / Sq Ft
12/04/2024 12/04/24 Price Changed $1,199,000 -4.1% $337 / Sq Ft
09/26/2024 09/26/24 For Sale $1,250,000 -- $351 / Sq Ft
Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,977 $161,761 $28,337 $133,424
2024 $4,899 $157,050 $27,677 $129,373
2023 $4,899 $152,475 $27,208 $125,267
2022 $4,754 $148,035 $26,988 $121,047
2021 $4,710 $143,723 $26,759 $116,964
2020 $4,571 $139,537 $0 $0
2019 $4,188 $135,473 $0 $0
2018 $4,031 $131,527 $0 $0
2017 $3,695 $127,696 $0 $0
2016 $4,152 $123,977 $0 $0
2014 $3,971 $120,367 $0 $0
2013 -- $116,861 $26,181 $90,680
Source: Public Records

Agents Affiliated with this Home

  • Mario Montoya

    Seller's Agent in 2025

    Mario Montoya

    Casa Montoya Realty

    (505) 681-3125

    2 in this area

    153 Total Sales

    Mario Montoya
    Section Image
  • Carmen Peters

    Buyer's Agent in 2025

    Carmen Peters

    New Mexico Home Group Real Est

    (757) 748-8991

    1 in this area

    9 Total Sales

    Carmen Peters
    Section Image
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Map

Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)

MLS Number: 1071325

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-014-067-065-046

New Mexico Sandoval County Corrales 87048

140 Palacio Rd, Corrales, NM

Not Listed for Sale

Detached

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