Four-Unit Apartment
For Sale
$605,352
1000 Meadowlark Court SE, Rio Rancho, NM 87124
ResidentialIncome, Rio Rancho, NM
Property Size3,416 SF
Lot Size0.16 Acres
Price / SF$177.21
Days on Market69
Property Features for 1000 Meadowlark Court SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-3
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 4, Bedroom 6
Parking
6
Patio and Porch features
Patio
Exterior features
Landscaping, Patio
Fireplace
1
Appliances
Dishwasher, FreeStandingElectricRange, Refrigerator
Subdivision
Meadowlark
Directions
From NM 528 and Meadowlark LN: East on Meadowlark Ln to Meadowlark Ct. 1000 Meadowlark Ct is on the NE corner of Meadowlark Ln and Meadowlark Ct.
Standard status
Active
APN
1014068115294
Size
3,416 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1991
Utilities
Heating system
Forced Air
Amenities
washer/dryer hook-ups
open kitchens/dining areas
updated appliances
dishwashers
off-street parking
exterior storage
Building Details
Year built
1981
Floors in Building
2
Number of units
4
Flooring type
Tile, Vinyl
Building materials
Frame, Stucco
Listing Agency:
Deacon Property Services
(505) 878-0100
Listed By:
Kyle E Deacon · License #15579
(505) 803-3775
Added: Jul 14
Changed: Sep 17
Last Checked: Sep 20 at 9:06PM
MLS# 1111034
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 1981-built, two-story quadplex contains four 2-bedroom, 1-bath apartments within 3,416 square feet on a 0.16-acre parcel. Each unit includes an open kitchen and dining area, updated appliances with dishwashers, and either a washer and dryer or washer and dryer hookups. Lower-level apartments offer large backyards, while patios and exterior storage add usable space. Off-street parking is positioned near the apartment entries, and units feature tile or vinyl flooring, forced-air heating, frame and stucco construction, and fireplaces. Apartments have been renovated at different times as vacancies occurred, including a recently updated ground-floor unit with a backyard and patio.
Key Highlights
- Four 2‑bedroom, 1‑bath apartments in a 3,416‑square‑foot quadplex
- Built in 1981 on a 0.16‑acre parcel
- Separate gas and electric meters for each apartment
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
$30,524
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
5.04%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
996
Businesses Nearby
Explore this area
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
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?
Quadplex - Two-story quadplex with updated interiors, private backyards for lower units, and separately metered gas and electric service.
Where is this quadplex located?
The property is located at 1000 Meadowlark Court SE 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 quadplex; Built in 1981 on a 0.16‑acre parcel; Separate gas and electric meters for each apartment
