Calling all Investors! Southeast Heights 4 Plex, Situated on a quiet cul-de-sac, now available to add to your portfolio! 3 Fully rented and refurbished, 2 bedroom and 1 bathroom units with either a balcony or yard. 1 vacant unit to be rented out! Assigned parking spaces! Great location close to restaurants, shopping and more!
Pending
$399,900
408 Rainbow Ct SE, Rio Rancho, NM 87123
2beds
1baths
3,760sqft
Est.:
Quadruplex, Multi Family
Built in 1979
-- sqft lot
$-- Zestimate®
$106/sqft
$-- HOA
What's special
Quiet cul-de-sacAssigned parking spaces
- 5 days |
- 312 |
- 21 |
Zillow last checked: 7 hours ago
Listing updated: March 06, 2026 at 07:10pm
Listed by:
Joseph E Maez 505-515-1719,
The Maez Group 505-718-4980
Source: SWMLS,MLS#: 1099252
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
Heating
- Forced Air
Cooling
- Evaporative Cooling, Ceiling Fan(s)
Appliances
- Included: Free-Standing Electric Range, Refrigerator
- Laundry: Washer Hookup, Dryer Hookup, In Unit
Features
- Ceiling Fan(s)
- Flooring: Carpet, Tile
- Has fireplace: Yes
Interior area
- Total structure area: 3,760
- Total interior livable area: 3,760 sqft
Property
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
- Exterior features: Lighting
Lot
- Size: 8,276.4 Square Feet
Details
- Parcel number: 102205626426320412
- Zoning description: R-ML*
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex, Multi Family
Materials
- Frame
Condition
- Resale
- New construction: No
- Year built: 1979
Utilities & green energy
- Utilities for property: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Green energy
- Energy generation: None
Community & HOA
Community
- Features: Deck/Porch
- Subdivision: Singimg Arrow Subd
Location
- Region: Rio Rancho
Financial & listing details
- Price per square foot: $106/sqft
- Tax assessed value: $344,100
- Annual tax amount: $7,555
- Date on market: 3/4/2026
- Cumulative days on market: 4 days
- Listing terms: Cash,Conventional,FHA,VA Loan
- Tenant pays: Electricity, Gas, Trash Collection
Estimated market value
Not available
Estimated sales range
Not available
$866/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 3/7/2026 | Pending sale | $399,900$106/sqft |
Source:  SWMLS #1099252 Report a problem | ||
| 3/4/2026 | Listed for sale | $399,900+169.5%$106/sqft |
Source: SWMLS #1099252 Report a problem | ||
| 3/24/2017 | Sold | -- |
Source: SWMLS #883607 Report a problem | ||
| 3/2/2017 | Pending sale | $148,400$39/sqft |
Source: REALHome Services & Solutions, Inc. dba Owners.com #883607 Report a problem | ||
| 2/2/2017 | Listed for sale | $148,400-25.8%$39/sqft |
Source: REALHome Services & Solutions, Inc. dba Owners.com #883607 Report a problem | ||
| 1/2/2013 | Listing removed | $199,999$53/sqft |
Source: Lane Properties of New Mexico LLC #737277 Report a problem | ||
| 6/28/2012 | Listed for sale | $199,999-7%$53/sqft |
Source: Lane Properties of New Mexico LLC #737277 Report a problem | ||
| 11/15/2010 | Listing removed | $215,000$57/sqft |
Source: Consumer Advantage Real Estate Services #687491 Report a problem | ||
| 8/5/2010 | Listed for sale | $215,000$57/sqft |
Source: Sawitonline.com #687491 Report a problem | ||
| 2/2/2001 | Sold | -- |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,846 +0.1% | $114,688 |
| 2024 | $4,839 +26.8% | $114,688 +28.5% |
| 2023 | $3,815 +3.5% | $89,266 +3% |
| 2022 | $3,686 +3.5% | $86,666 +3% |
| 2021 | $3,562 +1.7% | $84,142 +3% |
| 2020 | $3,504 | $81,691 -1% |
| 2019 | -- | $82,491 |
| 2018 | $2,596 -11.2% | $82,491 +20.2% |
| 2017 | $2,923 +13.9% | $68,626 +13.8% |
| 2016 | $2,567 -95.8% | $60,327 -0.9% |
| 2015 | $60,860 +2255% | $60,860 |
| 2014 | $2,584 | $60,860 -22% |
| 2013 | $2,584 | $78,012 |
| 2012 | -- | $78,012 |
| 2011 | -- | $78,012 |
| 2010 | -- | $78,012 +3% |
| 2009 | -- | $75,740 +3% |
| 2008 | -- | $73,534 +3% |
| 2007 | -- | $71,393 +31.5% |
| 2006 | -- | $54,294 |
| 2005 | -- | $54,294 |
| 2004 | -- | $54,294 |
| 2003 | -- | $54,294 +1% |
| 2002 | -- | $53,761 |
| 2001 | -- | $53,761 +41.5% |
| 2000 | -- | $37,996 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$2,231/mo
Principal & interest
$1944
Property taxes
$287
Climate risks
Neighborhood: Singing Arrow
Nearby schools
GreatSchools rating
- 4/10Apache Elementary SchoolGrades: PK-5Distance: 0.9 mi
- 2/10Van Buren Middle SchoolGrades: 6-8Distance: 3.4 mi
- 2/10Highland High SchoolGrades: 9-12Distance: 4.8 mi
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