ZIP CODE 87121 // ALBUQUERQUE, NM // DATA AS OF 2026-09-30
Albuquerque, NM (87121) Rental Property Cap Rate & Cash Flow Report
Located in Bernalillo County (Albuquerque, NM), Zip Code 87121 ranks #86 of 500 within this selected sample (83th percentile) with a Zillow ZHVI typical home-value index of $290,912 (+2.8% YoY) and a ZORI observed market rent of $1,611/mo (+2.0% YoY). Requires at least 39.2% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$353/mo
Annual: -$4,237/yr
Modeled Cap Rate
4.61%
NOI: $13,415/yr
Cash-on-Cash Return
-6.33%
Cash Needed: $66,910
1% Rule Ratio
0.55%
Gross Yield: 6.65%
Break-Even Rent
$2,017/mo
State Tax: 0.67%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 87121 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (NM Avg 0.67%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$1,471/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$493/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (87121)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $213,216 | $1,319/mo | 7.42% |
| 2022 | $248,946 | $1,398/mo | 6.74% |
| 2023 | $262,228 | $1,485/mo | 6.80% |
| 2024 | $278,489 | $1,551/mo | 6.68% |
| 2025 | $282,975 | $1,580/mo | 6.70% |
| 2026 | $290,912 | $1,611/mo | 6.65% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 87114 Albuquerque, NM | $374,661 | $1,710/mo | 3.60% | -$772/mo |
| 87120 Albuquerque, NM | $358,654 | $1,636/mo | 3.59% | -$740/mo |
| 33032 Homestead, FL | $455,555 | $2,580/mo | 4.62% | -$549/mo |
| 38654 Olive Branch, MS | $333,948 | $1,832/mo | 4.60% | -$409/mo |
| 29730 Rock Hill, SC | $284,333 | $1,536/mo | 4.63% | -$341/mo |
| 92571 Perris, CA | $527,874 | $2,932/mo | 4.59% | -$651/mo |