NOT LISTED FOR SALE

650 Vancouver Rd SE Rio Rancho, NM 87124

Solar Village-Mid-Unser Neighborhood

Estimated Value: $326,000 - $422,164

2 Beds
1 Bath
2,935 Sq Ft
$131/Sq Ft Est. Value

Last Sold September 16, 2020

Current estimated payment $2,250/month

19 Days on Market

Highlights

  • Evaporated cooling system
  • Tile Flooring
  • Forced Air Heating System
  • Eagle Ridge Middle School Rated A-
  • Landscaped
  • Property has 1 Level

About This Home

As of September 2020

Property temp off market - Zoom call and offer deadline moved out one week. See flyer for detailsThis property is packaged for a fast, smooth and easy transaction - the flyer contains rent roll summary, APOD, 5 year internal rate of return projection, comparable sales, property management info, inspection summary, financing quote, photos, floorplans, and update on the impact of the Corona-Virus on the apartment investment marketplace.Timeline:Info meeting/call - 7/28 at noonOffer deadline 7/30Starting Ask Price is $260,000, with an average rent of $760, measures of investment performance include a GRM of 7.13, a before reserves cap rate of 7.35% and an after-tax Internal Rate of Return (IRR) of 17.20%.

Last Agent to Sell the Property

Todd Clarke

NM Apartment Advisors, Inc. License #13711 Listed on: 07/13/2020

Last Buyer's Agent

April Rodas

Keller Williams Realty License #51267

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,577

Year Built

  • Built in 2000

Lot Details

  • 0.34 Acre Lot
  • Landscaped

Home Design

  • Quadruplex
  • Frame Construction

Interior Spaces

  • 2,935 Sq Ft Home
  • Property has 1 Level
  • Tile Flooring

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Laundry

  • Laundry in Garage
  • Washer and Dryer Hookup

Utilities

  • Evaporated cooling system
  • Forced Air Heating System
  • Natural Gas Connected

Listing and Financial Details

  • Assessor Parcel Number 1009069335062

Community Details

Overview

  • 2,935 Sq Ft Building
  • Rio Rancho Estates Subdivision

Building Details

  • Operating Expense $16,750
  • Gross Income $34,956

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,577

Year Built

Built in 2000

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Quadruplex
  • Directions: From Southern/Rio Rancho - west on Southern to Rainbow, North to Tulip, east to property (or west on Southern to Rainbow, North to Pecos, East to Vancouver then north and east to property.
  • Listing Contract Date: 2020-07-11
  • Year Built: 2000
  • Lot Size Acres: 0.34
  • Subdivision Name: Rio Rancho Estates
  • Unit Levels: One
  • New Construction: No
  • Year Built Details: 16 - 20
  • Property Sub Type Additional: Quadruplex
  • ResoBuildingAreaSource: Plans
  • Special Features: None

Interior Features

  • Flooring: Tile
  • Appliances: Refrigerator
  • Stories: 1
  • Number Of Buildings: 1
  • Basement YN: No
  • Total Bedrooms: 2
  • Living Area: 2935.0
  • Stories: 1
  • ResoLivingAreaSource: Plans

Exterior Features

  • Exterior Features: Landscaping
  • Disclosures: RANM 2100 Disclosure
  • Builder Name: Unknown
  • Construction Type: Frame
  • Property Condition: Resale

Utilities

  • Cooling: Evaporative Cooling
  • Electric: None
  • Heating: Central, Forced Air
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Laundry Features: Washer Hookup, Dryer Hookup, In Unit
  • Cooling Y N: Yes
  • Heating Yn: Yes

Lot Info

  • Lot Size Sq Ft: 14810.4
  • Parcel #: 1009069335062
  • Zoning Description: R-2

Rental Info

  • Tenant Pays: Other, See Remarks

Multi Family

  • Number Of Units Total: 4
  • Annual Gross Income: 34956.0
  • Annual Operating Expense: 16750.0

Tax Info

  • Tax Annual Amount: 2577.4

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 13, 2020
Closed on
Sep 11, 2020
Sold by
Martinet Jean Paul and Martinet Cherise
Bought by
Loustaunau Brian J and Loustaunau Jennifer L
Seller's Agent
Todd Clarke
NM Apartment Advisors, Inc.
Buyer's Agent
April Rodas
Keller Williams Realty
List Price
$260,000
Current Estimated Value
$385,721

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.06%
Original Mortgage
$204,000
Outstanding Balance
$180,701
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$205,020

Purchase Details

Closed on
May 13, 2004
Sold by
Sanchez Steve R and Sanchez Brenda
Bought by
Martinet Cherise A
Source: Public Records

Range of Values:

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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
Loustaunau Brian J -- Fidelity National Title Ins
Martinet Cherise A $186,200 Albuquerque Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Loustaunau Brian J $204,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/16/2020 09/16/20 Sold -- -- --
07/31/2020 07/31/20 Pending -- -- --
07/28/2020 07/28/20 For Sale $260,000 0.0% $89 / Sq Ft
07/18/2020 07/18/20 Off Market -- -- --
07/12/2020 07/12/20 For Sale $260,000 -- $89 / 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 $2,598 $72,098 $14,613 $57,485
2024 $2,635 $72,098 $14,613 $57,485
2023 $2,635 $72,098 $14,613 $57,485
2022 $2,559 $69,999 $14,613 $55,386
2021 $2,615 $69,999 $14,613 $55,386
2020 $2,560 $68,515 $0 $0
2019 $2,577 $68,515 $0 $0
2018 $2,353 $66,520 $0 $0
2017 $2,276 $65,140 $0 $0
2016 $3,287 $83,988 $0 $0
2014 $3,177 $83,988 $0 $0
2013 -- $83,988 $3,726 $80,262
Source: Public Records

Agents Affiliated with this Home

  • Todd Clarke

    Seller's Agent in 2020

    Todd Clarke

    NM Apartment Advisors, Inc.

    (505) 480-8885

    7 in this area

    224 Total Sales

    Todd Clarke
    Section Image
  • April Rodas

    Buyer's Agent in 2020

    April Rodas

    Keller Williams Realty

    (505) 226-1882

    83 Total Sales

    April Rodas
    Section Image
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Map

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

MLS Number: 972419

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-009-069-335-062

New Mexico Sandoval County Rio Rancho 87124 Solar Village-Mid-Unser

650 Vancouver Rd SE, Rio Rancho, NM

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Southwest MLS (Greater Albuquerque Association of REALTORS®) IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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