Two-Home Short-Term Rental
For Sale
$619,900
1913 Lomas Blvd NW, Albuquerque, NM 87104
Restored adobe residences offer updated kitchens and bathrooms, gated access, and flexible live-work use.
Property Size1,613 SF
Price / SF$384.31
Days on Market135
Property Features for 1913 Lomas Blvd NW
General Information
Standard status
Active
Size
1,613 SF
Property subtype
Residential Income
Building Details
Year Built
1936
Listing Agency:
Maddox & Co/REALTORS
(505) 270-5798
Listed By:
Liska Maddox · License #47587
Source:
Albuquerquehomefinders
Added: Apr 19
Changed: Aug 30
Last Checked: Aug 30 at 6:05PM
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 Maddox & Co/REALTORS
Investment Insights
Based on property information with market context.
This short-term rental property includes two adobe homes on a .25-acre parcel, each retaining historic character alongside updated kitchens and bathrooms. Interior details include thick adobe walls, wood flooring, and vintage light fixtures. New roofs were installed 4/26, and the property was built in 1936.
A private gated entrance leads to ample on-site parking. The residences are currently used as Airbnbs and have also accommodated an art studio, a small private school, and a jewelry shop. The two-home configuration supports a range of residential, rental, and live-work arrangements within one property.
A private gated entrance leads to ample on-site parking. The residences are currently used as Airbnbs and have also accommodated an art studio, a small private school, and a jewelry shop. The two-home configuration supports a range of residential, rental, and live-work arrangements within one property.
Key Highlights
- Two adobe homes situated on a .25‑acre parcel
- Historic construction dating to 1936
- Updated kitchens and bathrooms in each home
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
$21,427
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
3.46%
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%
$428,540
$428.5K
Cap Rate 7%
$306,100
$306.1K
Cap Rate 9%
$238,078
$238.1K
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
$34.8K $21.60/SF
− Vacancy
−$6.3K −$3.89/SF
EGI
$28.6K $17.71/SF
− OpEx
−$7.1K −$4.43/SF
NOI
$21.4K $13.28/SF
Area
Albuquerque, NM
Vacancy
18.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$428,540
Cap Rate 7%
$306,100
Cap Rate 9%
$238,078
Alternative Uses
Best Use
Office B
$306.1K
$267.8K – $357.1K
NOI $21,427 @ 7.0% cap · market cap 3.46%
Second Best
Mixed Use
$280.0K
$245.0K – $326.6K
NOI $19,598 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$390.2K
$341.4K – $455.3K
NOI $27,315 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,382
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Restored adobe residences offer updated kitchens and bathrooms, gated access, and flexible live-work use.
Where is this short term rental property located?
The property is located at 1913 Lomas Blvd NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Two adobe homes situated on a .25‑acre parcel; Historic construction dating to 1936; Updated kitchens and bathrooms in each home
