Duplex with Separate
215 Madison Street NE, Albuquerque, NM 87108
For Sale
$399,000
Residential Income, Albuquerque, NM
Property Size1,656 SF
Lot Size0.16 Acres
Price / SF$240.94
Days on Market147
Property Features for 215 Madison Street NE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Amenities
refrig air
hardwood floors
washer & dryer
separate yards
Building Details
Year built
Number of units
Listing Agency:
Coldwell Banker Legacy · Coldwell Banker Real Estate
(505) 293-3700
Listed By:
Sandi D. Pressley · License NM #14871
(505) 263-2173
Added: Jun 18
Changed: Nov 9
Last Checked: Nov 11 at 9:06AM
MLS# 1105886
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,656-square-foot duplex, built in 1946, contains two residences, each configured with two bedrooms and one bathroom. Both units have refrigerated air, hardwood flooring, and an in-unit washer and dryer. Gas and electric service are separately metered, and each residence has its own yard. The property occupies a 0.16-acre lot and is zoned R-MH*.
The property is in Albuquerque near UNM and the Nob Hill area, with shopping, dining, parks, hospitals, and transportation in the surrounding area.
The property is in Albuquerque near UNM and the Nob Hill area, with shopping, dining, parks, hospitals, and transportation in the surrounding area.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,656‑square‑foot building on a 0.16‑acre lot
- Separate yards for the two units
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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,874
Businesses Nearby
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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
$227,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Albuquerque, NM
Properties on Market for Duplexes in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has in-unit laundry, refrigerated air, and individually metered gas and electric service.
Where is this duplex located?
The property is located at 215 Madison Street 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: Two residences, each with 2 bedrooms and 1 bathroom; 1,656‑square‑foot building on a 0.16‑acre lot; Separate yards for the two units
