Three-Bedroom Duplex
For Sale
$295,000
1362 Santa Fe, Las Cruces, NM 88001
Two residential units offer three bedrooms and two bathrooms each, with tenants responsible for utilities.
Property Size2,172 SF
Price / SF$135.82
Days on Market47
Property Features for 1362 Santa Fe
General Information
Standard status
Active
Size
2,172 SF
Property subtype
Multi-Family
Building Details
Year Built
2003
Listing Agency:
Keller Williams Realty
(575) 915-2461
Listed By:
Kayla Fikany
(575) 915-2461
Source:
Zrealestate
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 30 at 4:28PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 2003, this duplex contains 2,172 square feet across two residential units. Each unit provides three bedrooms and two bathrooms, creating a consistent layout throughout the property.
Tenants are responsible for all utilities. The seller also owns an adjacent duplex that is being offered for sale separately, providing an option to evaluate both properties together.
Tenants are responsible for all utilities. The seller also owns an adjacent duplex that is being offered for sale separately, providing an option to evaluate both properties together.
Key Highlights
- 2,172‑square‑foot duplex built in 2003
- Two units, each with 3 bedrooms and 2 bathrooms
- Tenants pay all utilities
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
$14,655
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
4.97%
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%
$293,100
$293.1K
Cap Rate 7%
$209,357
$209.4K
Cap Rate 9%
$162,833
$162.8K
Market Conditions
NOI Build-Up for 2,172 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 $10.20/SF
− Vacancy
−$1.2K −$0.56/SF
EGI
$20.9K $9.64/SF
− OpEx
−$6.3K −$2.89/SF
NOI
$14.7K $6.75/SF
Area
Las Cruces, NM
Vacancy
5.50%
Lease Rate
$10.20 /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%
$293,100
Cap Rate 7%
$209,357
Cap Rate 9%
$162,833
Alternative Uses
Best Use
Multifamily LT 5
$209.4K
$183.2K – $244.3K
NOI $14,655 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$188.3K
$164.8K – $219.7K
NOI $13,182 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$380.1K
$332.6K – $443.4K
NOI $26,606 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 88001, NM
36,831
Population
16,985
Households
2.2
Avg Household Size
30
Median Age
29%
College-Educated
83%
High-School Grad
11.1 sq mi
ZIP Area
3,318
Density / Sq Mi
$32,978
Median Household Income
$23,195
Median Earnings
$797
Median Rent
$158,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer three bedrooms and two bathrooms each, with tenants responsible for utilities.
Where is this duplex located?
The property is located at 1362 Santa Fe Las Cruces, 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: 2,172‑square‑foot duplex built in 2003; Two units, each with 3 bedrooms and 2 bathrooms; Tenants pay all utilities
