Real Estate Investing in Corrales, New Mexico (87048)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 87048 (Corrales, NM)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.7% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 39.1 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Corrales, NM (87048)?
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Market Analysis: 87048 Corrales
Not every below-median market is a bargain. Corrales's 87048 ZIP registers signals that favor experienced operators who can absorb the risk $710K pricing implies.
The 87048 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within NM, ZIP 87048 trails on several market indicators that neighboring Sandoval County submarkets outperform. The gap is real and substantial enough to shape underwriting.
A robust renter share of 10% in 87048 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 87048 is an operator game, not a passive one. In practical terms, entry prices of $710K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Corrales:
Property Strategy for 87048
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $441,881 | $1,680 | 2.7% | +8.3% | $220,940 |
| 3BR | $659,382 | $2,340 | 2.6% | +7.9% | $219,794 |
| 4BR | $847,706 | $2,750 | 2.3% | +8.3% | $211,926 |
| 5BR | $1,049,484 | — | — | +8.5% | $209,897 |
Market Trends
Home Value History (with trend line)
📊 How Does 87048 Compare?
| Metric | 87048 | Corrales | Albuquerque, NM | New Mexico |
|---|---|---|---|---|
| Home Value | $709,869 | $709,869 | N/A | $308,799 |
| 5-Year CAGR | 5.5% | 5.5% | N/A | 7.3% |
| Avg Rent | $1,512 | $1,512 | N/A | - |
| Cap Rate | 1.7% | 1.7% | - | - |
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 87048 (Corrales, NM). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $709,869 |
| Monthly Rent | $1,512 |
| Price-to-Rent | 39.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.6% |
| Cap Rate | 1.7% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +6.6% ▲ |
🏠 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 (1.7%). 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 87048
Population: 9,173
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 87048
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
Investor Insight: With 2,489 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors worry about vacancy in Corrales, NM?
Vacancy in Corrales, NM is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,512/mo.
Is housing expensive in Corrales, NM?
Corrales, NM home values average about $710K. That price point suits investors targeting rentals with $1,512/mo in monthly income.
Where do rents currently stand in Corrales, NM?
The typical rental in Corrales, NM commands about $1,512/mo monthly. That rent profile stable cash flow against the $710K purchase basis.
What investment strategy works best in Corrales, NM?
Most investors in Corrales, NM run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Should investors consider Corrales, NM?
The 3.0/5 investability rating in Corrales, NM reflects its $710K prices and $1,512/mo rents. Investors generally consider it a solid option within NM.
You know 87048 now. You don’t know where it ranks.
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How 87048 ranks in Albuquerque, NM
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