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    1412 8th Street Las Vegas, NM 87701

    View on Map
    For Sale
    $157,900

    MULTI_FAMILY - Las Vegas, NM

    Property size:
    1,880 SF
    Added:
    Sep 16, 2025
    Days on Market:
    198
    Last Refresh:
    Apr 1 at 9:06 pm

    Property Features for 1412 8th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Interior features
    Basement, Pantry
    Appliances
    Free-Standing Range
    Standard status
    Active
    APN
    R0063380
    Size
    1,880 SF

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    See Legal Description in Associated Documents
    TaxAnnualAmount
    1153

    Utilities

    Heating system
    Space Heater

    Building Details

    Floors in Building
    1
    Number of units
    2
    Flooring type
    Laminate
    Building materials
    Frame, Stucco

    We can help!

    Listing Contact
    Kurtis Quintana
    Kurtis Quintana

    Listing agent Kurtis Quintana License #53169

    Listing office Home & Land Professionals 1208 National Ave., Las Vegas, NM

    Listing date Sep 16, 2025

    MLS# 20255382

    Copyright © 2026 New Mexico MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Income-Generating Duplex Near Highlands University

    This income-generating duplex features two separate units, totaling 1,880 square feet. The main unit offers 1,306 square feet with 2 bedrooms, 1 bathroom, and a bonus room located past the laundry room, suitable for an office, storage, or workspace. The larger unit also includes a generous, partially finished basement for additional storage. The secondary unit provides 574 square feet with 1 bedroom and 1 bathroom and is currently occupied by tenants. The property includes a long driveway accommodating parking for both units. Both units have a recent and current rental history, with the potential to benefit from modern updates. This property offers multiple investment strategies: maintain it as a rental property with existing tenant income, use it as an owner-occupied investment by living in the larger unit while collecting rent from the smaller unit, or develop it as a family compound. Located near restaurants and shopping for convenience, it is also within walking distance of Highlands University, making it convenient for student tenants. The property is ready for buyer's updates and improvements to maximize its potential. The property is located in Las Vegas, New Mexico.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    San Miguel
    State
    New Mexico
    Longitude
    -105.223532
    Latitude
    35.603994

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    FAQs

    What type of property is this?
    Duplex - Duplex near Highlands University with investment and rental income potential.
    Where is this duplex located?
    The property is located at 1412 8th Street Las Vegas, NM.
    What is the asking price?
    The asking price for this property is $157,900.
    What are key features of this property?
    This property features: Income‑generating duplex with two separate units totaling 1,880 sq ft.; Main unit features 2 bedrooms, 1 bathroom, a bonus room, and a partially finished basement (1,306 sq ft).; Secondary unit is tenant‑occupied, offering 1 bedroom and 1 bathroom (574 sq ft).
    (505) 718-9364
    We can help!
    Listing Contact
    Kurtis Quintana
    Kurtis Quintana
    Real Estate License ID: 53169
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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