1971 Duplex With Two
1029 N Melendres Street Las Cruces, NM 88005
1029 N Melendres Street, Las Cruces, NM, 88005
$270,000
For Sale
$270,000
MULTI_FAMILY - Las Cruces, NM
Property Size1,541 SF
Lot Size0.32 Acres
Price / SF$175.21
Days on Market110
Property Features for 1029 N Melendres Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 2
- Rooms
- Bedroom 1, Bedroom 2
- Parking features
- On Street, Carport
- Appliances
- Range
- Standard status
- Active
- APN
- 4-006-134-429-494
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Description
- Subd: HESS TERRACE IN PETERSON PLACE REPLAT NO 2 (BK 18PG 165 - 9428719) Lot: 7A Block: 7 S: 12 T: 23S R: 1E
Utilities
- Heating system
- Forced Air
- Cooling system
- Evaporative Cooling
Building Details
- Year built
- 1971
- Number of units
- 2
- Building materials
- Brick
Listing Agency
The Palms Realty
(575) 621-5780
100 Apache Brave St., Las Cruces, NM
Listed by
Luke Gabriel Johnson
(575) 649-3722
Added: Apr 2 Updated: Jul 17 at 10:02 pm Checked: Jul 20 at 1:06 pm
MLS# 2601052
Listing URL
Copyright © 2026 Las Cruces Association of REALTORS®. 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 1971 duplex is offered on two separate parcels created with a zero lot line configuration. The property consists of two units: 1029 N Melendres includes 3 bedrooms and 2 bathrooms with a carport, and 1031 N Melendres includes 2 bedrooms and 1 bathroom. Both units have evaporative coolers.
The duplex is located at 1029 & 1031 N Melendres in Las Cruces, New Mexico, on a combined lot size of 0.32 acres. The layout supports either an owner-occupant setup or a rental-focused investment approach, with each unit operating as its own living space.
The duplex is located at 1029 & 1031 N Melendres in Las Cruces, New Mexico, on a combined lot size of 0.32 acres. The layout supports either an owner-occupant setup or a rental-focused investment approach, with each unit operating as its own living space.
Key Highlights
- 1971 brick duplex on two separate parcels with zero lot line at 1029 & 1031 N Melendres
- 1029 N Melendres: 851 SF with 3 bedrooms, 2 bathrooms, and a carport
- 1031 N Melendres: 690 SF with 2 bedrooms and 1 bathroom
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.7k | $10.20 |
| − Vacancy | −$865 | −$0.56 |
| EGI | $14.9k | $9.64 |
| − OpEx | −$4.5k | −$2.89 |
| NOI | $10.4k | $6.75 |
1,541 SF · lease $10.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$148.5K
$130.0K – $173.3K
NOI $10,398 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$133.6K
$116.9K – $155.9K
NOI $9,352 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$269.7K
$236.0K – $314.6K
NOI $18,877 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex on two zero-lot-line parcels with two units, separate living areas, and evaporative coolers.
Where is this duplex located?
The property is located at 1029 N Melendres Street Las Cruces, NM.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 1971 brick duplex on two separate parcels with zero lot line at 1029 & 1031 N Melendres; 1029 N Melendres: 851 SF with 3 bedrooms, 2 bathrooms, and a carport; 1031 N Melendres: 690 SF with 2 bedrooms and 1 bathroom
