Quadplex with Private
For Sale
$605,352
1000 Meadowlark Ct, Rio Rancho, NM 87124
Two-story apartment property with updated interiors, off-street parking, and private outdoor areas for select units.
Property Size3,416 SF
Price / SF$177.21
Days on Market52
Property Features for 1000 Meadowlark Ct
General Information
Standard status
Active
Size
3,416 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,990
Amenities
washer/dryer hook-ups
dishwashers
large backyards
exterior storage
Building Details
Year Built
1981
Buildings
1
Stories
2
Listing Agency:
Deacon Property Services
Listed By:
Kyle E Deacon · License #15579
(505) 878-0100
Source:
Exprealty
Added: Sep 15
Changed: Oct 26
Last Checked: Nov 4 at 6:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Deacon Property Services
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Investment Insights
Based on property information with market context.
Located at 1000 Meadowlark Ct in Rio Rancho, this 3,416-square-foot quadplex was built in 1981 and contains four 2-bedroom, 1-bath apartments across two stories. Each residence includes an open kitchen and dining area, updated appliances with dishwashers, and either a washer and dryer or washer and dryer hookups. Apartment updates vary by unit as renovations have been completed during turnover.
Downstairs residences offer large backyards, while Apartment #2 includes a recently updated ground-floor interior, backyard, and patio space. The property also provides off-street parking near the apartment entrances, exterior storage, and separate gas and electric metering for each unit. The complex is near shopping, Intel, and Hwy 528.
Downstairs residences offer large backyards, while Apartment #2 includes a recently updated ground-floor interior, backyard, and patio space. The property also provides off-street parking near the apartment entrances, exterior storage, and separate gas and electric metering for each unit. The complex is near shopping, Intel, and Hwy 528.
Key Highlights
- Four 2‑bedroom, 1‑bath apartments in a 3,416‑square‑foot, 2‑story building
- Built in 1981 with unit updates completed as apartments turned over
- Downstairs apartments include large backyards; Apartment #2 also has patio space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,524
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,480
$610.5K
Cap Rate 7%
$436,057
$436.1K
Cap Rate 9%
$339,156
$339.2K
Market Conditions
NOI Build-Up for 3,416 SF
Gross rent
$47.1K $13.80/SF
− Vacancy
−$3.5K −$1.04/SF
EGI
$43.6K $12.77/SF
− OpEx
−$13.1K −$3.83/SF
NOI
$30.5K $8.94/SF
Area
Rio Rancho, NM
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,480
Cap Rate 7%
$436,057
Cap Rate 9%
$339,156
Alternative Uses
Best Use
Multifamily LT 5
$436.1K
$381.6K – $508.7K
NOI $30,524 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$405.2K
$354.6K – $472.8K
NOI $28,367 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$846.1K
$740.3K – $987.1K
NOI $59,225 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
996
Businesses Nearby
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Business Placement
Demographics for 87124, NM
59,781
Population
23,027
Households
2.6
Avg Household Size
40
Median Age
33%
College-Educated
94%
High-School Grad
77.9 sq mi
ZIP Area
767
Density / Sq Mi
$82,278
Median Household Income
$43,353
Median Earnings
$1,380
Median Rent
$262,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Two-story apartment property with updated interiors, off-street parking, and private outdoor areas for select units.
Where is this quadplex located?
The property is located at 1000 Meadowlark Ct Rio Rancho, NM.
What is the asking price?
The asking price for this property is $605,352.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath apartments in a 3,416‑square‑foot, 2‑story building; Built in 1981 with unit updates completed as apartments turned over; Downstairs apartments include large backyards; Apartment #2 also has patio space
