Updated 4-Unit
For Sale
$349,900
211 Texas St, Albuquerque, NM 87108
Four residential units offer a varied mix, durable finishes, and select laundry hookups for tenant convenience.
Property Size2,500 SF
Price / SF$139.96
Days on Market23
Property Features for 211 Texas St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,606
Building Details
Buildings
1
Listing Agency:
MORE Realty, Inc
(505) 610-1893
Listed By:
Tahir Gauba
(505) 610-1893
Source:
Exprealty
Added: Aug 7
Changed: Aug 20
Last Checked: Aug 29 at 12:14PM
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 MORE Realty, Inc
Investment Insights
Based on property information with market context.
This quadplex in Albuquerque includes four residential units: two with two bedrooms and one bathroom, plus two with one bedroom and one bathroom. Interior features include carpet-free flooring, all-electric systems, and a stove and refrigerator in each unit. Select apartments also have washer hookups.
Exterior improvements include a TPO roof with a transferable warranty, newer fencing, and refreshed stucco surfaces. The property is located at 211 Texas St in Albuquerque, New Mexico, providing a defined multifamily asset with a mix of one- and two-bedroom floor plans.
Exterior improvements include a TPO roof with a transferable warranty, newer fencing, and refreshed stucco surfaces. The property is located at 211 Texas St in Albuquerque, New Mexico, providing a defined multifamily asset with a mix of one- and two-bedroom floor plans.
Key Highlights
- Four‑unit property with two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units
- TPO roof includes a transferable warranty
- Newer fencing and refreshed stucco surfaces
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
$22,822
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
6.52%
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%
$456,440
$456.4K
Cap Rate 7%
$326,029
$326.0K
Cap Rate 9%
$253,578
$253.6K
Market Conditions
NOI Build-Up for 2,500 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
$34.5K $13.80/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$32.6K $13.04/SF
− OpEx
−$9.8K −$3.91/SF
NOI
$22.8K $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%
$456,440
Cap Rate 7%
$326,029
Cap Rate 9%
$253,578
Alternative Uses
Best Use
Multifamily LT 5
$326.0K
$285.3K – $380.4K
NOI $22,822 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$301.7K
$264.0K – $352.0K
NOI $21,117 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$604.8K
$529.2K – $705.6K
NOI $42,336 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
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?
Quadplex - Four residential units offer a varied mix, durable finishes, and select laundry hookups for tenant convenience.
Where is this quadplex located?
The property is located at 211 Texas St Albuquerque, NM.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Four‑unit property with two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units; TPO roof includes a transferable warranty; Newer fencing and refreshed stucco surfaces
