Two-Unit Duplex With Covered
For Sale
$260,000
Pending
1646 Ferris Ave Sw, Albuquerque, NM 87105
Each unit includes two bedrooms, one bathroom, and washer/dryer connections, with on-site parking for both units.
Property Size1,613 SF
Days on Market24
Property Features for 1646 Ferris Ave Sw
General Information
Standard status
Pending
Size
1,613 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,492
Amenities
washer/dryer connections
Listing Agency:
EXP Realty LLC
(505) 554-3873
Listed By:
Roberta G Gore · License #49163
(505) 917-1447
Source:
Exprealty
Added: Aug 11
Changed: Aug 29
Last Checked: Sep 2 at 2:00AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains two separate units within 1,613 square feet, with each unit configured with two bedrooms and one bathroom. Both units include washer/dryer connections, while the rear unit also has a washer and dryer in place.
Parking is available for both units, and the rear portion of the property adds a large covered area that can serve as additional parking or outdoor gathering space. The property is located at 1646 Ferris Ave SW in Albuquerque, New Mexico.
Parking is available for both units, and the rear portion of the property adds a large covered area that can serve as additional parking or outdoor gathering space. The property is located at 1646 Ferris Ave SW in Albuquerque, New Mexico.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,613 square feet of total property size
- Washer/dryer connections in both units
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
$14,620
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
5.62%
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%
$292,400
$292.4K
Cap Rate 7%
$208,857
$208.9K
Cap Rate 9%
$162,444
$162.4K
Market Conditions
NOI Build-Up for 1,613 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
$22.3K $13.80/SF
− Vacancy
−$1.4K −$0.85/SF
EGI
$20.9K $12.95/SF
− OpEx
−$6.3K −$3.88/SF
NOI
$14.6K $9.06/SF
Area
ZIP 87105
Vacancy
6.17%
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%
$292,400
Cap Rate 7%
$208,857
Cap Rate 9%
$162,444
Alternative Uses
Best Use
Multifamily LT 5
$208.9K
$182.8K – $243.7K
NOI $14,620 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$192.0K
$168.0K – $224.0K
NOI $13,438 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$351.9K
$308.0K – $410.6K
NOI $24,636 @ 7.0% cap · market cap 9.48%
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
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 87105, NM
54,151
Population
20,263
Households
2.7
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
40.2 sq mi
ZIP Area
1,347
Density / Sq Mi
$49,928
Median Household Income
$32,490
Median Earnings
$972
Median Rent
$200,300
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?
Duplex - Each unit includes two bedrooms, one bathroom, and washer/dryer connections, with on-site parking for both units.
Where is this duplex located?
The property is located at 1646 Ferris Ave Sw Albuquerque, NM.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,613 square feet of total property size; Washer/dryer connections in both units
