Four-Unit Multifamily
For Sale
$850,000
1309 Rufina Ln, Santa Fe, NM 87507
Income-producing multifamily asset with four two-bedroom residences, fenced outdoor areas, and off-street parking.
Property Size3,300 SF
Price / SF$257.58
Days on Market17
Property Features for 1309 Rufina Ln
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Cap Rate
7%
Amenities
private fenced yards
Building Details
Year Built
1985
Listing Agency:
Homewise, Inc
(505) 594-9586
Listed By:
Brian Tercero
(505) 594-9586
Source:
Mrsantaferealestate
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 28 at 10:29AM
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 Homewise, Inc
Investment Insights
Based on property information with market context.
This 3,300-square-foot quadplex, built in 1985, contains four residential units with a consistent two-bedroom, one-bath layout. Two residences have private fenced yards, and the property includes ample off-street parking. The asset has an established rental history and is identified with an approximately 7% cap rate.
Located at 1309 Rufina Ln in Santa Fe, the property sits one block from Meow Wolf and provides access to breweries, restaurants, galleries, entertainment venues, and major employment centers. Its four-unit configuration offers a straightforward multifamily format with uniform floor plans across the property.
Located at 1309 Rufina Ln in Santa Fe, the property sits one block from Meow Wolf and provides access to breweries, restaurants, galleries, entertainment venues, and major employment centers. Its four-unit configuration offers a straightforward multifamily format with uniform floor plans across the property.
Key Highlights
- Four‑unit quadplex with four 2‑bedroom, 1‑bath residences
- 3,300 square feet; built in 1985
- Two units include private fenced yards
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
$48,974
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
5.76%
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%
$979,480
$979.5K
Cap Rate 7%
$699,629
$699.6K
Cap Rate 9%
$544,156
$544.2K
Market Conditions
NOI Build-Up for 3,300 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
$73.3K $22.20/SF
− Vacancy
−$3.3K −$1.00/SF
EGI
$70.0K $21.20/SF
− OpEx
−$21.0K −$6.36/SF
NOI
$49.0K $14.84/SF
Area
Santa Fe County, NM
Vacancy
4.50%
Lease Rate
$22.20 /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%
$979,480
Cap Rate 7%
$699,629
Cap Rate 9%
$544,156
Alternative Uses
Best Use
Multifamily LT 5
$699.6K
$612.2K – $816.2K
NOI $48,974 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$646.8K
$566.0K – $754.6K
NOI $45,278 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$896.1K
$784.1K – $1.05M
NOI $62,726 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,024
Businesses Nearby
Explore this area
Business Placement
Demographics for 87507, NM
51,338
Population
21,272
Households
2.4
Avg Household Size
38
Median Age
31%
College-Educated
86%
High-School Grad
96.1 sq mi
ZIP Area
534
Density / Sq Mi
$62,955
Median Household Income
$34,102
Median Earnings
$1,276
Median Rent
$333,300
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?
Quadplex - Income-producing multifamily asset with four two-bedroom residences, fenced outdoor areas, and off-street parking.
Where is this quadplex located?
The property is located at 1309 Rufina Ln Santa Fe, NM.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four‑unit quadplex with four 2‑bedroom, 1‑bath residences; 3,300 square feet; built in 1985; Two units include private fenced yards
