Renovated Duplex Near Old
For Sale
$449,900
1505 -1507 1/2 Marble Avenue NW, Albuquerque, NM 87104
MULTI_FAMILY - Albuquerque, NM
Property Size1,726 SF
Lot Size0.09 Acres
Price / SF$260.66
Days on Market10
Property Features for 1505 -1507 1/2 Marble Avenue NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-T*
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1
Exterior features
Lighting
Appliances
Dryer, Dishwasher, FreeStandingGasRange, Microwave, Refrigerator, Washer
Subdivision
Perea Add
Directions
From Lomas And 16th, Go North On 16th To Marble, East On Marble To 1505/1507.
Standard status
Active
APN
101305835127010213
Size
1,726 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
5574
Utilities
Heating system
Central, Forced Air, Ductless (Heating)
Cooling system
Multi Units, Ductless
Building Details
Year built
1916
Floors in Building
1
Number of units
2
Flooring type
Tile, Vinyl, Wood, Carpet
Listing Agency:
Keller Williams Realty
(505) 897-1100
Listed By:
Will Beecher · License #37193
(505) 918-5730
Added: Aug 2
Changed: Aug 6
Last Checked: Aug 11 at 7:06PM
MLS# 1108634
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 1,726-square-foot duplex was built in 1916 and contains two one-bedroom, one-bath units. One residence has been renovated, while the other is leased. The property also includes a detached rear structure that may provide storage or workshop space, subject to buyer verification.
Set on a 0.09-acre lot at 1505–1507 1/2 Marble Avenue NW, the property is near Historic Old Town, Downtown, museums, restaurants, breweries, parks, and major commuter routes. Interior features include tile, vinyl, wood, and carpet flooring, along with central, forced-air, and ductless heating systems. Cooling is provided by multiple units and ductless equipment. Appliances include a washer, dryer, dishwasher, microwave, refrigerator, and freestanding gas range.
Set on a 0.09-acre lot at 1505–1507 1/2 Marble Avenue NW, the property is near Historic Old Town, Downtown, museums, restaurants, breweries, parks, and major commuter routes. Interior features include tile, vinyl, wood, and carpet flooring, along with central, forced-air, and ductless heating systems. Cooling is provided by multiple units and ductless equipment. Appliances include a washer, dryer, dishwasher, microwave, refrigerator, and freestanding gas range.
Key Highlights
- Duplex with two 1‑bedroom, 1‑bath units
- 1,726 square feet on a 0.09‑acre lot
- One unit renovated and the other currently leased
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
$15,756
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
3.50%
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%
$315,120
$315.1K
Cap Rate 7%
$225,086
$225.1K
Cap Rate 9%
$175,067
$175.1K
Market Conditions
NOI Build-Up for 1,726 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
$23.8K $13.80/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$22.5K $13.04/SF
− OpEx
−$6.8K −$3.91/SF
NOI
$15.8K $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%
$315,120
Cap Rate 7%
$225,086
Cap Rate 9%
$175,067
Alternative Uses
Best Use
Multifamily LT 5
$225.1K
$197.0K – $262.6K
NOI $15,756 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$208.3K
$182.2K – $243.0K
NOI $14,579 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$417.6K
$365.4K – $487.2K
NOI $29,229 @ 7.0% cap · market cap 6.50%
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
2,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 87104, NM
12,537
Population
6,628
Households
1.9
Avg Household Size
43
Median Age
48%
College-Educated
92%
High-School Grad
4.2 sq mi
ZIP Area
2,985
Density / Sq Mi
$67,714
Median Household Income
$55,156
Median Earnings
$1,022
Median Rent
$300,000
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 residences with separate living spaces and a detached rear structure.
Where is this duplex located?
The property is located at 1505 -1507 1/2 Marble Avenue NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Duplex with two 1‑bedroom, 1‑bath units; 1,726 square feet on a 0.09‑acre lot; One unit renovated and the other currently leased
