Real Estate Investing in Bernalillo, New Mexico (87004)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 87004 (Bernalillo, NM)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Bernalillo, NM (87004)?
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Market Analysis: 87004 Bernalillo
This part of Sandoval County is not an easy win. The 87004 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $1,233/mo on a $347K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 87004 sits below the stated 0.0% once reality is priced in.
In the broader NM picture, 87004 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 87004 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
New investors are better served looking at Bernalillo's stable or hybrid ZIPs before stepping into 87004. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Bernalillo:
Property Strategy for 87004
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $331,939 | $1,370 | 3.0% | +6.9% | $165,969 |
| 3BR | $350,687 | $1,910 | 3.9% | +7.9% | $116,896 |
| 4BR | $461,293 | $2,240 | 3.5% | +6.9% | $115,323 |
Market Trends
Home Value History (with trend line)
📊 How Does 87004 Compare?
| Metric | 87004 | Bernalillo | Albuquerque, NM | New Mexico |
|---|---|---|---|---|
| Home Value | $346,947 | $346,947 | N/A | $308,799 |
| 5-Year CAGR | 5.1% | 5.1% | N/A | 7.3% |
| Avg Rent | $1,233 | $1,233 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 87004 (Bernalillo, NM). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $346,947 |
| Monthly Rent | $1,233 |
| Price-to-Rent | 23.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 7.9% |
📈 Home Appreciation
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 87004
Population: 11,274
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 87004
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What approach is best for Bernalillo, NM real estate?
The best-fit strategy in Bernalillo, NM is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What is the average monthly rent in Bernalillo, NM?
Rent in Bernalillo, NM is around $1,233/mo. The resulting rent-to-value relationship with $347K pricing is reasonable for most investor models.
Is housing expensive in Bernalillo, NM?
Bernalillo, NM median home values land near $347K. That is reasonable territory for investors looking at $1,233/mo-per-month rentals.
How tight is the rental market in Bernalillo, NM?
Bernalillo, NM carries elevated vacancy risk. Expect steady absorption at market rents of $1,233/mo.
Is Bernalillo, NM good for landlords?
For rental operators, Bernalillo, NM rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 87004 now. You don’t know where it ranks.
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How 87004 ranks in Albuquerque, NM
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