350 Applewood Rd, Rio Rancho, NM, 87048
About This Home
Custom 6-7 bedroom, 4 bath Corrales home offering approx. 4,125 SF on 2.39 acres--a rare chance to create value in one of NM's most sought-after rural villages. Built in the 1970s, the home retains original character with vintage wallpaper, fixtures, and a Soapstone stove and is ready for updating or restoring as is. With generous living areas, multiple bedrooms, and flexible spaces, it can be lived in with minimal effort while improvements are made, or taken to the next level with a full renovation and modern finishes. 2x6 Construction and 2x8 Rafters make for great ''bones''. Enjoy Corrales' well known acequia and agricultural heritage and the nearby Rio Grande Bosque for cottonwood-lined open space and trails. Buyer to verify zoning/use and all property features important to them.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: Resale
- Year built: 1977
Materials
- Roof: Pitched
- Construction materials: Frame
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence
Interior
Appliances
- Laundry features: Electric Dryer Hookup
Bedroom2
- Level: Upper
- Area: 14319
Bedroom3
- Level: Upper
- Area: 12423
Bedroom4
- Level: Upper
- Area: 15042
Bedroom5
- Level: Upper
- Area: 92922
Bedrooms & Bathrooms
- Bedrooms: 6
- Bathrooms: 4
- Full bathrooms: 2
- 3/4 bathrooms: 1
- 1/2 bathrooms: 1
Dining Room
- Level: Main
- Area: 13818
Family Room
- Level: Main
- Area: 18224
Features
- Multiple Living Areas
- Window features: Sliding
- Flooring: Carpet,Tile
- Number of fireplaces: 2
- Fireplace features: Wood Burning
- Fireplace: Yes
Heating & Cooling
- Heating features: Forced Air
- Cooling features: Refrigerated
Interior Area
- Total structure area: 4,125
- Total interior livable area: 4,125 sqft
Kitchen
- Level: Main
- Area: 125718
Living Room
- Level: Main
- Area: 2304
Office
- Level: Main
- Area: 17152
Primary Bedroom
- Level: Upper
- Area: 230850
Property
Details
- Parcel number: 1015067065005
- Zoning description: A-1
Features
- Levels: Two
- Stories: 2
- Exterior features: Private Yard
Lot
- Lot size: 2.39 Acres
Parking
- Total spaces: 2
- Parking features: Attached,Garage
- Has garage: Yes
- Attached garage spaces: 2
- Covered spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Inland Flooding
- Lightning
- Earthquake
- Hail
- Wildfire
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters in Sandoval County and New Mexico
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $4,652 | $55,824 |
| Home Insurance * | $192 | $2,304 |
| Property Taxes | $506 | $6,072 |
| Electricity | $293 | $3,519 |
| Total | $5,643 | $67,716 |
Income You'd Need if You Spent...
New Mexico FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
No market data available for this area
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-23 | Price change | $1,150,000 |
| 2026-04-01 | Listed for sale | $1,200,000 |
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