Real Estate Investing in Cerrillos, New Mexico (87010)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 87010 (Cerrillos, NM)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 22.9% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (1.2% CAGR).
- Lower household income: $37,285 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Cerrillos, NM (87010)?
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Market Analysis: 87010 Cerrillos
Investors eyeing 87010 need to respect the fundamentals at play. Home values of $400K come alongside slower price movement and elevated management overhead.
Turning to rents, the numbers look inviting — $400K purchase price, 0.0% nominal cap — the work to hit that pro forma in 87010 is substantial and deserves full respect.
Within NM, ZIP 87010 trails on several market indicators that neighboring Santa Fe County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
Employment concentration in 87010 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 87010 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Cerrillos:
Property Strategy for 87010
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $274,997 | $1,370 | 3.6% | +3.8% | $274,997 |
| 2BR | $360,901 | $1,660 | 3.3% | +4.2% | $180,450 |
| 3BR | $483,899 | $2,090 | 3.1% | +3.7% | $161,300 |
Market Trends
Home Value History (with trend line)
📊 How Does 87010 Compare?
| Metric | 87010 | Cerrillos | Santa Fe, NM | New Mexico |
|---|---|---|---|---|
| Home Value | $400,138 | $400,138 | N/A | $308,799 |
| 5-Year CAGR | 1.2% | 1.2% | N/A | 7.3% |
| Avg Rent | $1,494 | $1,494 | N/A | - |
| Cap Rate | 2.9% | 2.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 87010 (Cerrillos, NM). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $400,138 |
| Monthly Rent | $1,494 |
| Price-to-Rent | 22.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.5% |
| Cap Rate | 2.9% |
| 5-Year IRR | 4.1% |
📈 Home Appreciation
| 1-Year | +3.0% ▲ |
| 3-Year CAGR | +0.5% ▲ |
| 5-Year CAGR | +1.2% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 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 (2.9%). 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 87010
Population: 1,147
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the median home value in Cerrillos, NM?
Median home price in Cerrillos, NM is near $400K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
What is the typical renter like in Cerrillos, NM?
Expect a solid tenant pool in Cerrillos, NM. The rental market absorbs $1,494/mo rents without meaningful friction.
Is vacancy a concern in Cerrillos, NM?
Vacancy in Cerrillos, NM is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,494/mo.
How do experienced investors play Cerrillos, NM?
In Cerrillos, NM the notable play is typically careful cash-flow rentals with hands-on management. The combination of $400K prices and $1,494/mo rents suits that approach.
Is Cerrillos, NM landlord-friendly?
Rental owners in Cerrillos, NM deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 87010 now. You don’t know where it ranks.
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How 87010 ranks in Santa Fe, NM
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