Duplex with Detached
For Sale
$850,000
1606 Roma Avenue NE, Albuquerque, NM 87106
ResidentialIncome, Albuquerque, NM
Property Size3,263 SF
Lot Size0.15 Acres
Price / SF$260.50
Days on Market83
Property Features for 1606 Roma Avenue NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1B*
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Basement, Bedroom 6, Bathroom 5, Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 6, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4
Patio and Porch features
Patio
Exterior features
Patio
Fireplace
1
Accessibility
Accessible Approach with Ramp
Appliances
Dryer, Dishwasher, FreeStandingGasRange, Disposal, Microwave, Refrigerator, RangeHood, Washer
Subdivision
Country Club Add
Directions
From Lomas South on University pass Las Lomas/Campus 1 block to Roma and West to property
Standard status
Active
APN
101505737246412527
Size
3,263 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
4750
Utilities
Heating system
Central, Forced Air
Cooling system
Multi Units
Building Details
Year built
1930
Floors in Building
1
Number of units
2
Flooring type
Tile, Wood, Laminate
Building materials
Block, Frame, Stucco
Listing Agency:
RE/MAX SELECT · RE/MAX International
(505) 265-5111
Listed By:
Lisa Parker · License #30211
(505) 220-7068
Added: Jul 7
Changed: Sep 14
Last Checked: Sep 27 at 1:06AM
MLS# 1107557
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1930 duplex property combines a substantial main residence with a detached 498-square-foot casita. The primary structure offers spacious living and dining areas, a private primary suite, den, three additional bedrooms, and multiple bathrooms. The lower level adds a family room, kitchenette, bedroom, flex room, and two bathrooms, with entry from inside the home as well as outdoors. Across the property, the configuration includes six bedrooms and six bathrooms in three distinct areas.
The casita includes its own kitchen, bedroom, bathroom, and portal. Outdoor living areas include both covered and open patios. Interior features include hardwood, tile, and laminate flooring, central forced-air heating, multiple cooling units, a fireplace, and a ramped accessible approach. The property sits in Albuquerque’s Spruce Park area, close to UNM, three hospitals, and Nob Hill.
The casita includes its own kitchen, bedroom, bathroom, and portal. Outdoor living areas include both covered and open patios. Interior features include hardwood, tile, and laminate flooring, central forced-air heating, multiple cooling units, a fireplace, and a ramped accessible approach. The property sits in Albuquerque’s Spruce Park area, close to UNM, three hospitals, and Nob Hill.
Key Highlights
- 3,263‑square‑foot duplex on a 0.15‑acre lot
- Detached 498sf casita with kitchen, bedroom, bath, and portal
- Six bedrooms and six bathrooms arranged across three separate areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,787
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$595,740
$595.7K
Cap Rate 7%
$425,529
$425.5K
Cap Rate 9%
$330,967
$331.0K
Market Conditions
NOI Build-Up for 3,263 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.0K $13.80/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$42.6K $13.04/SF
− OpEx
−$12.8K −$3.91/SF
NOI
$29.8K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$595,740
Cap Rate 7%
$425,529
Cap Rate 9%
$330,967
Alternative Uses
Best Use
Multifamily LT 5
$425.5K
$372.3K – $496.5K
NOI $29,787 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$393.7K
$344.5K – $459.4K
NOI $27,562 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$789.4K
$690.7K – $921.0K
NOI $55,257 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible two-level residence with a private casita, multiple patios, and separate interior and exterior access to the lower level.
Where is this duplex located?
The property is located at 1606 Roma Avenue NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,263‑square‑foot duplex on a 0.15‑acre lot; Detached 498sf casita with kitchen, bedroom, bath, and portal; Six bedrooms and six bathrooms arranged across three separate areas
