Duplex Near University of New
For Sale
$399,000
215 Madison St NE, Albuquerque, NM 87108
Two-unit property with separate yards, individual utility metering, and in-unit laundry equipment.
Property Size1,656 SF
Price / SF$240.94
Days on Market87
Property Features for 215 Madison St NE
General Information
Standard status
Active
Size
1,656 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
refrigerated air
CFA heat
hardwood floors
washer & dryer in unit
separate yards
Building Details
Year Built
1946
Buildings
1
Listing Agency:
Coldwell Banker Legacy
Listed By:
Sandi D. Pressley · License #14871
(505) 263-2173
Source:
Thesouthwestlife
Added: Jul 20
Changed: Oct 13
Last Checked: Oct 7 at 5:31PM
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 Coldwell Banker Legacy
Investment Insights
Based on property information with market context.
This 1946 duplex contains 1,656 square feet across two residential units. Both sides include refrigerated air, CFA heat, hardwood flooring, in-unit washer and dryer connections or equipment, separately metered gas and electric service, and private yards. Each unit also has a 1CG.
The property is located at 215 Madison St in Albuquerque, near the University of New Mexico and the Nob Hill area. Shopping, art, dining, parks, hospitals, and transportation are identified in the surrounding area, providing access to a range of nearby services and amenities.
The property is located at 215 Madison St in Albuquerque, near the University of New Mexico and the Nob Hill area. Shopping, art, dining, parks, hospitals, and transportation are identified in the surrounding area, providing access to a range of nearby services and amenities.
Key Highlights
- 1,656‑square‑foot duplex built in 1946
- Both units feature refrigerated air, CFA heat, and hardwood floors
- Separate gas and electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,117
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,340
$302.3K
Cap Rate 7%
$215,957
$216.0K
Cap Rate 9%
$167,967
$168.0K
Market Conditions
NOI Build-Up for 1,656 SF
Gross rent
$22.9K $13.80/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$21.6K $13.04/SF
− OpEx
−$6.5K −$3.91/SF
NOI
$15.1K $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 Rate 5%
$302,340
Cap Rate 7%
$215,957
Cap Rate 9%
$167,967
Alternative Uses
Best Use
Multifamily LT 5
$216.0K
$189.0K – $252.0K
NOI $15,117 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$199.8K
$174.9K – $233.1K
NOI $13,988 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$400.6K
$350.5K – $467.4K
NOI $28,043 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,874
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 with separate yards, individual utility metering, and in-unit laundry equipment.
Where is this duplex located?
The property is located at 215 Madison St NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,656‑square‑foot duplex built in 1946; Both units feature refrigerated air, CFA heat, and hardwood floors; Separate gas and electric meters for each unit
