Duplex with Detached
For Sale
$310,000
412 Harvard Drive SE, Albuquerque, NM 87106
ResidentialIncome, Albuquerque, NM
Property Size1,460 SF
Lot Size0.16 Acres
Price / SF$212.33
Days on Market153
Property Features for 412 Harvard Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1C*
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Interior features
CeilingFans
Appliances
Dryer, Dishwasher, FreeStandingGasRange, Refrigerator, RangeHood, Washer
Subdivision
University Hts Add
Directions
From Cross Streets of Central and Harvard. Go South and home is on the East side of the street.
Standard status
Active
APN
101605704706930618
Size
1,460 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2985
Utilities
Heating system
Central, Forced Air
Cooling system
Ceiling Fan(s)
Building Details
Year built
1941
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Carpet, Tile
Listing Agency:
Realty One of New Mexico
(505) 883-9400
Listed By:
Premier Realty Partners
(505) 550-8331
Added: Mar 30
Changed: Aug 19
Last Checked: Aug 29 at 5:06PM
MLS# 1100765
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.
412 Harvard Drive SE in Albuquerque, NM offers duplex-style living with a detached casita configuration. The property includes a 3-bedroom, 2-bath main house plus a detached 1-bedroom, 1-bath casita. A tenant is already in place in the casita, and each unit has its own separate fenced area for privacy.
The property sits on a 0.16-acre lot with 1,460 square feet of interior space. Interior features include ceiling fans, and the home is served by central heating and forced air. Flooring includes carpet, vinyl, and tile. Appliances listed include a washer, dryer, refrigerator, dishwasher, and a free-standing gas range.
The home was built in 1941 and is located less than 10 minutes from UNM Hospital. It is also described as being just 3 minutes from the UNM main campus.
The property sits on a 0.16-acre lot with 1,460 square feet of interior space. Interior features include ceiling fans, and the home is served by central heating and forced air. Flooring includes carpet, vinyl, and tile. Appliances listed include a washer, dryer, refrigerator, dishwasher, and a free-standing gas range.
The home was built in 1941 and is located less than 10 minutes from UNM Hospital. It is also described as being just 3 minutes from the UNM main campus.
Key Highlights
- 0.16‑acre lot with 1,460 SF total
- 3‑bedroom, 2‑bath main house plus detached 1‑bedroom, 1‑bath casita
- Tenant already in place in the detached casita
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
$13,328
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
4.30%
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%
$266,560
$266.6K
Cap Rate 7%
$190,400
$190.4K
Cap Rate 9%
$148,089
$148.1K
Market Conditions
NOI Build-Up for 1,460 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
$20.1K $13.80/SF
− Vacancy
−$1.1K −$0.76/SF
EGI
$19.0K $13.04/SF
− OpEx
−$5.7K −$3.91/SF
NOI
$13.3K $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%
$266,560
Cap Rate 7%
$190,400
Cap Rate 9%
$148,089
Alternative Uses
Best Use
Multifamily LT 5
$190.4K
$166.6K – $222.1K
NOI $13,328 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$176.2K
$154.2K – $205.5K
NOI $12,332 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$353.2K
$309.1K – $412.1K
NOI $24,724 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,215
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
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 - Duplex-style home with a detached 1-bedroom casita, fully fenced with a separate fenced area for the casita.
Where is this duplex located?
The property is located at 412 Harvard Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 0.16‑acre lot with 1,460 SF total; 3‑bedroom, 2‑bath main house plus detached 1‑bedroom, 1‑bath casita; Tenant already in place in the detached casita
