Renovated Duplex Near Old
For Sale
$449,900
1507 1/2 Marble Ave 1505, Albuquerque, NM 87104
Two-unit property includes one renovated residence and a detached rear structure.
Property Size1,726 SF
Price / SF$260.66
Days on Market30
Property Features for 1507 1/2 Marble Ave 1505
General Information
Standard status
Active
Size
1,726 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1916
Listing Agency:
Keller Williams Realty
(505) 918-5730
Listed By:
Will Beecher · License #37193
Source:
Albuquerquehomefinders
Added: Aug 1
Changed: Aug 29
Last Checked: Aug 29 at 5:32PM
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 1916, this 1,726-square-foot duplex contains two 1-bedroom, 1-bath residences. One unit has been renovated, while the other is leased, creating an established rental component alongside the additional unit. A detached structure at the rear adds functional space that may support storage or workshop use, subject to buyer verification.
The property is located at 1507 1/2 Marble Ave 1505 in Albuquerque, near Historic Old Town and Downtown. Museums, restaurants, breweries, parks, and major commuter routes are also identified in the surrounding area, providing access to a range of nearby destinations.
The property is located at 1507 1/2 Marble Ave 1505 in Albuquerque, near Historic Old Town and Downtown. Museums, restaurants, breweries, parks, and major commuter routes are also identified in the surrounding area, providing access to a range of nearby destinations.
Key Highlights
- Two 1‑bedroom, 1‑bath units within a 1,726‑square‑foot duplex
- One residence has been renovated
- Second unit is 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
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-unit property includes one renovated residence and a detached rear structure.
Where is this duplex located?
The property is located at 1507 1/2 Marble Ave 1505 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: Two 1‑bedroom, 1‑bath units within a 1,726‑square‑foot duplex; One residence has been renovated; Second unit is currently leased
