Updated Duplex with Two
For Sale
$415,000
Pending
1808 Marble Ave Nw, Albuquerque, NM 87102
Two residential units provide separate kitchens, living areas, and recent updates throughout.
Property Size1,736 SF
Days on Market124
Property Features for 1808 Marble Ave Nw
General Information
Standard status
Pending
Size
1,736 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,852
Listing Agency:
Equity Real Estate
(505) 239-8453
Listed By:
Tina Chronis · License #13322
(505) 239-8453
Source:
Exprealty
Added: Apr 10
Changed: Aug 10
Last Checked: Aug 11 at 10:42AM
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 Equity Real Estate
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with 2 bedrooms, 1 bathroom, a kitchen, and a living area. Unit A adds a screened-in porch, while Unit B includes a storage shed. Improvements completed since 2017 include windows, LVT flooring, a tiled shower, water heater, wall heater, swamp coolers, and interior paint.
The property is located at 1808 Marble Ave Nw in Albuquerque, with access to shopping, dining, museums, and Old Town. Showings require 48 hours’ notice, and the current tenants should not be disturbed. Listing photos were taken before tenant occupancy.
The property is located at 1808 Marble Ave Nw in Albuquerque, with access to shopping, dining, museums, and Old Town. Showings require 48 hours’ notice, and the current tenants should not be disturbed. Listing photos were taken before tenant occupancy.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- Separate kitchen and living area in each unit
- Updates since 2017 include windows, LVT flooring, and a tiled shower
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
$15,847
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
3.82%
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%
$316,940
$316.9K
Cap Rate 7%
$226,386
$226.4K
Cap Rate 9%
$176,078
$176.1K
Market Conditions
NOI Build-Up for 1,736 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
$24.0K $13.80/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$22.6K $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%
$316,940
Cap Rate 7%
$226,386
Cap Rate 9%
$176,078
Alternative Uses
Best Use
Multifamily LT 5
$226.4K
$198.1K – $264.1K
NOI $15,847 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$209.5K
$183.3K – $244.4K
NOI $14,663 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$420.0K
$367.5K – $490.0K
NOI $29,398 @ 7.0% cap · market cap 7.08%
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
3,803
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
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 - Two residential units provide separate kitchens, living areas, and recent updates throughout.
Where is this duplex located?
The property is located at 1808 Marble Ave Nw Albuquerque, NM.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; Separate kitchen and living area in each unit; Updates since 2017 include windows, LVT flooring, and a tiled shower
