Duplex with Separate
215 Madison Street NE Albuquerque, NM 87108
215 Madison Street NE, Albuquerque, NM, 87108
$414,000
For Sale
$414,000
MULTI_FAMILY - Albuquerque, NM
Property Size1,656 SF
Lot Size0.16 Acres
Price / SF$250
Days on Market31
Property Features for 215 Madison Street NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4
- Appliances
- Dryer, FreeStandingGasRange, Microwave, Refrigerator, Washer
- Standard status
- Active
- APN
- 101705736228710303
- Size
- 1,656 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Description
- Lot 17, Block 3, The Heights Reservoir Addition
- Tax Annual Amount
- 2553
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1946
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Tile, Wood
- Building materials
- Frame, Stucco
Listing Agency
Coldwell Banker Legacy
(505) 293-3700
10400 Academy Road NE #100, Albuquerque, NM
Listed by
Sandi D. Pressley · License #14871
(505) 263-2173
Added: Jun 18 Checked: Jul 18 at 5:06 pm
MLS# 1105886
Listing URL
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.
Investment Insights
Based on property information with market context.
Well maintained duplex with two separate units, each featuring refrigerated air and CFA heat. Interiors include hardwood floors and an in-unit washer and dryer. Utilities are separately metered for gas and electric, and each unit has a separate yard, along with a 1CG.
Located at 215 Madison Street NE in Albuquerque, the property is described as close to the University of New Mexico and the UNM/Nob Hill area, with shopping, art, dining, parks, hospitals, and transportation nearby.
The duplex provides two independent residential spaces within a single property, with clear separation between units through separate yards and utility meters.
Located at 215 Madison Street NE in Albuquerque, the property is described as close to the University of New Mexico and the UNM/Nob Hill area, with shopping, art, dining, parks, hospitals, and transportation nearby.
The duplex provides two independent residential spaces within a single property, with clear separation between units through separate yards and utility meters.
Key Highlights
- Well‑maintained duplex built in 1946, offering two separate units on the same property
- Each unit features refrigerated air and forced‑air (CFA) heat
- Hardwood flooring in both units
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.9k | $13.80 |
| − Vacancy | −$1.3k | −$0.76 |
| EGI | $21.6k | $13.04 |
| − OpEx | −$6.5k | −$3.91 |
| NOI | $15.1k | $9.13 |
1,656 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$216.0K
$189.0K – $252.0K
NOI $15,117 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$199.8K
$174.9K – $233.1K
NOI $13,988 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$400.6K
$350.5K – $467.4K
NOI $28,043 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Each unit offers refrigerated air, in-unit washer and dryer, and separately metered gas and electric.
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 $414,000.
What are key features of this property?
This property features: Well‑maintained duplex built in 1946, offering two separate units on the same property; Each unit features refrigerated air and forced‑air (CFA) heat; Hardwood flooring in both units
