Duplex With New TPO
For Sale
$349,900
1407 1409 Hazeldine Avenue SE, Albuquerque, NM 87106
MULTI_FAMILY - Albuquerque, NM
Property Size1,407 SF
Lot Size0.13 Acres
Price / SF$248.69
Days on Market35
Property Features for 1407 1409 Hazeldine Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-T*
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1
Parking
4
Exterior features
Landscaping
Appliances
FreeStandingGasRange, Refrigerator
Directions
From University & Lead, go west on Lead to Sycamore St, south on Sycamore St to Hazeldine, west on Hazeldine to property.
Subdivision
42 - UNM South
Standard status
Active
APN
101505723313731016
Size
1,407 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
2629
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Wood
Building materials
Frame, Stucco
Listing Agency:
Campbell & Campbell Real Estat
(505) 821-7666
Listed By:
Randell C Campbell · License #14915
(505) 991-3125
Added: Jul 8
Changed: Aug 7
Last Checked: Aug 11 at 7:06PM
MLS# 1106955
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 1940 duplex at 1407 and 1409 Hazeldine Avenue SE contains two 1BR/1BA units, each equipped with a refrigerator and freestanding gas range. The property includes one garage space per unit, original hardwood flooring in both residences, flex areas, and separate interior updates including vinyl flooring, tub surrounds, wall-mounted heating, and washer hookups. A new TPO roof was installed in 2024, and the electrical panel has been upgraded.
The 0.13-acre property sits directly across from Roosevelt Park, with a shared backyard featuring mature trees, landscaping, and garden potential. Backyard access leads to the detached garage and parking area. Its Albuquerque location also provides access to downtown and UNM.
The 0.13-acre property sits directly across from Roosevelt Park, with a shared backyard featuring mature trees, landscaping, and garden potential. Backyard access leads to the detached garage and parking area. Its Albuquerque location also provides access to downtown and UNM.
Key Highlights
- Two‑unit duplex with 1BR/1BA layouts
- 1,407 SF property size on 0.13 acres
- New TPO roof installed in 2024
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
$12,844
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
3.67%
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%
$256,880
$256.9K
Cap Rate 7%
$183,486
$183.5K
Cap Rate 9%
$142,711
$142.7K
Market Conditions
NOI Build-Up for 1,407 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
$19.4K $13.80/SF
− Vacancy
−$1.1K −$0.76/SF
EGI
$18.3K $13.04/SF
− OpEx
−$5.5K −$3.91/SF
NOI
$12.8K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
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%
$256,880
Cap Rate 7%
$183,486
Cap Rate 9%
$142,711
Alternative Uses
Best Use
Multifamily LT 5
$183.5K
$160.6K – $214.1K
NOI $12,844 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$169.8K
$148.6K – $198.1K
NOI $11,884 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$340.4K
$297.8K – $397.1K
NOI $23,827 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,192
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
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 one-bedroom units with private garages, shared outdoor space, and access to park amenities.
Where is this duplex located?
The property is located at 1407 1409 Hazeldine Avenue SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑unit duplex with 1BR/1BA layouts; 1,407 SF property size on 0.13 acres; New TPO roof installed in 2024
