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Sandoval, New Mexico
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TEXT DESCRIPTION OF PROPERTY FROM OUR WEBSITE BELOW
This plot is part of the existing Rio Rancho Estates subdivision, which is just outside of Rio Rancho, the third largest and one of the fastest-growing cities in New Mexico.
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” – Franklin D. Roosevelt, U.S. president
This particular parcel is part of the undeveloped area just north of Rio Rancho that is located within the catchment basin of the Rio Rancho Estates Area Plan (drafted by Sandoval County). According to Sandoval County, about 1,280 people live in this area, mostly in mobile or manufactured homes.
The lot is about 25 minutes to Rio Rancho, 45 minutes to Albuquerque and 1 hour and 20 minutes to Santa Fe.
“Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.” – Andrew Carnegie, billionaire industrialist
The area is zoned CD-RRE (rural residential), which allows for single-family homes, including mobile homes, and agricultural uses according to our research.
CASH DISCOUNT PURCHASE PRICE $3,499 + $395 DOCUMENT FEE
We accept payment via PayPal, wire transfer, ACH transfer, and Zelle.
SELLER FINANCING AVAILABLE
$1 down with a $395 document fee and $299 per month for 18 months at 0% APR. No prepayment penalty. No credit checks.
HOLD PRICE $25
For $25 we can hold the property for you for 72 hours while you decide whether you want to purchase. If you buy the property, this will count toward the purchase price.
TITLE AND USE
What you can or cannot legally do on the land is controlled by the local government, not by us or any seller. Please contact the county, providing them with the parcel number, to confirm zoning, access, and available utilities.
BUY OR HOLD
ABOUT RIO RANCHO ESTATES
According to the Rio Rancho Estates Area Plan, “The area of south central Sandoval County, now known as Rio Rancho Estates, is made up of a portion of the Town of Alameda Land Grant, dating from Spanish settlement in the 1700’s, as well as a portion of the King Ranch. During the years from 1960 to 1975, the American Realty and Petroleum Corporation (AMREP) purchased 90,000 acres of this land and subdivided it into thousands of lots, mostly one-half and one acre parcels. Through an extensive advertising campaign, many of these properties were sold to individuals from all over the world….Rio Rancho emerged in this process as an urban area, and in 1981, incorporated. Through successive annexations, Rio Rancho became one of the fastest growing cities in the United States and now holds more than 85,000 residents, including just over half of the original AMREP land holdings….The remaining unincorporated area of roughly 60 square miles, and 43,629 acres.”
Assessor’s Parcel Number:
Account Number: R115588
Legal Description: Legal: Subd: Rio Rancho Estates Block: 18 Lot: 51 Unit: 3
Approximate Elevation: 5880 Ft
GPS Coordinates (approx.):
Please note that the GPS coordinates are approximate. They come from public assessor GIS data and are fairly accurate, but to find the exact boundaries of the property, it is best to hire a local surveyor.
Center: 35.2213, -106.8233
Annual Taxes: $33.56
Zoning: Rio Rancho Estates Community District (CD-RRE)
Time Limit to Build: None as far as we are aware
Access: Dirt Road
Power: Electricity would likely have to be solar or another alternative system.
Water: A well would need to be installed.
Sewer: A septic system would need to be installed. Please note that a perc test has not been done.
Median Home Value Estimate (Zipcode):
According to Zillow $168,900
This lot is ~3% of the median home value estimate.
Contacts: Sandoval County Planning and Zoning 505-867-7628
“Buy on the fringe and wait. Buy land near a growing city! Buy real estate when other people want to sell. Hold what you buy!” – John Jacob Astor, real estate and business mogul
FREQUENTLY ASKED QUESTIONS
How do I use the GPS coordinates to find the property in Google Maps?
Note: these are sample coordinates, please copy the GPS coordinates from this listing page.
Can you build on the property? Because we do not know the specifics of what you may want to build on the property, we recommend that you contact the building and/or zoning department(s) for more information on the relevant zoning and building regulations and how to obtain a building permit.
Can I visit the property? Of course! There is no need to make an appointment – please feel free to visit the property at any time. Please also note that we won’t be able to meet you at the lot.
Does the property have an address? No, since the property is a vacant parcel of land, it hasn’t been assigned an address. However, you can plug the approximate GPS coordinates into Google Maps in order to locate the property (as shown above).
Has a survey been done? No, we have not had a survey commissioned, but if you would like to pay for a survey we would be happy to work with your chosen surveyor.
Can you park an RV on the property? We recommend that you contact the county to confirm, but, in most counties, RVs are only allowed on a temporary basis.
Are taxes up to date? We pay all tax bills as soon as we receive them, but you can always check with the County Treasurer to verify taxes have been paid.
Has a title search been done? Given the price point of our properties, we do not typically purchase a title search or title insurance when we buy a lot. However, we do our own research to check for title issues and liens and would never purchase a property that has a known title issue. We are also happy to work with the company of your choosing at buyer’s expense.
How does the closing process work? We try to keep the closing simple and straightforward. Please just send us the full name of everyone you would like on the deed, a mailing address and phone number, and whether you would like to purchase with cash or utilize owner financing. We will then send you an invoice for either the down payment plus the document fee or the cash discount price plus the document fee. We accept payment via Zelle, wire transfer or ACH transfer as well as PayPal for properties priced under $5000.
If you purchase with owner financing, we will then send the loan documents to you for your signature via docusign.
If you purchase with cash, we will then draft and record the deed transferring title to you. Once the deed is recorded, we will send you a copy for your records.
Do you work with a title company? Yes, we are always happy to work with the company of your choosing at buyer’s expense.
How does owner financing work? With owner financing, we will sign a land contract that gives you legal right to use the property; however, you won’t be able to pull any building permits during the loan term. Once the down payment and document fee are paid, we will send you a link to our third party loan servicing software, where you will make monthly payments for the length of the loan term. After the loan is paid in full, we will then transfer title to you.
What kind of deed will I receive? You will receive a special warranty deed, which means the seller is guaranteeing that the property wasn’t encumbered during the time of his/her ownership.
How many people can be included on the deed? You can have as many people listed on the deed as you would like.
Can the deed be made out to an LLC? Yes, the deed can be made out to an LLC or corporation.
Does the property come with mineral rights? We buy all of our properties assuming that we only have the surface rights. In order to determine whether a particular property has mineral rights, you will usually need to hire a title company to run a mineral rights search going all the way back to the original homestead.
“Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy.” – Marshall Field, entrepreneur
We completed an extensive due diligence process on this lot, but we recommend you do your n research as well. Take the time to get to know your new property before purchasing – it could remain in your family for generations!
“Buy land, they’re not making it anymore.” – Mark Twain, writer and humorist
BUY OR HOLD
Our mission is to offer high quality properties at reasonable prices, provide maximum transparency and always strive to do the right thing.
If you are interested in land investing, you can check out our article on How to Get Started in Land Investing.