Leased Duplex with
For Sale
$295,000
610 San Pedro Drive SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size1,610 SF
Lot Size0.16 Acres
Price / SF$183.23
Days on Market65
Property Features for 610 San Pedro Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-3
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1
Parking
4
Appliances
FreeStandingElectricRange, FreeStandingGasRange, Refrigerator
Subdivision
Park Add
Directions
South on Louisiana Blvd from I40. West on Lomas Blvd, South on San Pedro Drive to 608 San Pedro Drive SE 87108.
Standard status
Active
APN
101805627344711614
Size
1,610 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1944
Utilities
Cooling system
Multi Units
Amenities
garages
storage space
Building Details
Year built
1957
Floors in Building
1
Number of units
2
Flooring type
Wood, Carpet
Building materials
Frame, Concrete, Stucco, SyntheticStucco
Listing Agency:
DBI Real Estate LLC
Listed By:
Jeff Grier · License #15017
(505) 463-3667
Added: Jul 25
Changed: Sep 13
Last Checked: Sep 27 at 1:06AM
MLS# 1107948
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 1,610-square-foot duplex was constructed in 1957 on a 0.16-acre parcel. The property includes two leased residences, with a garage and extra storage area serving each unit. Interior features include wood and carpet flooring, while cooling is provided by multiple units.
Construction incorporates frame, concrete, stucco, and synthetic stucco materials. Existing appliances include freestanding electric and gas ranges along with refrigerators. The property is located at 610 San Pedro Drive SE in Albuquerque, within ZIP Code 87108.
Construction incorporates frame, concrete, stucco, and synthetic stucco materials. Existing appliances include freestanding electric and gas ranges along with refrigerators. The property is located at 610 San Pedro Drive SE in Albuquerque, within ZIP Code 87108.
Key Highlights
- Two‑unit duplex with both residences leased
- 1,610 square feet on a 0.16‑acre lot
- Separate garage and additional storage for each unit
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
$14,697
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
4.98%
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%
$293,940
$293.9K
Cap Rate 7%
$209,957
$210.0K
Cap Rate 9%
$163,300
$163.3K
Market Conditions
NOI Build-Up for 1,610 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
$22.2K $13.80/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$21.0K $13.04/SF
− OpEx
−$6.3K −$3.91/SF
NOI
$14.7K $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%
$293,940
Cap Rate 7%
$209,957
Cap Rate 9%
$163,300
Alternative Uses
Best Use
Multifamily LT 5
$210.0K
$183.7K – $245.0K
NOI $14,697 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$194.3K
$170.0K – $226.7K
NOI $13,599 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$389.5K
$340.8K – $454.4K
NOI $27,264 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,266
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences are leased and provide private garage space with additional storage.
Where is this duplex located?
The property is located at 610 San Pedro Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences leased; 1,610 square feet on a 0.16‑acre lot; Separate garage and additional storage for each unit
