Duplex with Detached
New
For Sale
$220,000
215 Ocotillo Dr, Sunland Park, NM 88063
Two separate homes each include private yard space, with a garage available for additional storage.
Property Size1,775 SF
Price / SF$123.94
Days on Market2
Property Features for 215 Ocotillo Dr
General Information
Standard status
Active
Size
1,775 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1975
Listing Agency:
Volare Realty Group LLC
Listed By:
Kayla Fikany
(575) 915-2461
Source:
Zrealestate
Added: Sep 26
Last Checked: Sep 26 at 2:55PM
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 Volare Realty Group LLC
Investment Insights
Based on property information with market context.
Built in 1975, this 1,775-square-foot duplex contains two units, each arranged with two bedrooms, one bathroom, a kitchen, and a living area. Each residence also has its own yard, and a detached garage adds storage space. One unit is occupied; remodeling is underway in the other, with completion anticipated before closing. Kitchen appliances are to be included in that unit.
The property is in Sunland Park, near schools, shopping, and entertainment, with access to El Paso.
The property is in Sunland Park, near schools, shopping, and entertainment, with access to El Paso.
Key Highlights
- 1,775‑square‑foot duplex built in 1975
- Two units, each with 2 bedrooms, 1 bathroom, a kitchen, and a living area
- Separate yard space for each unit
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
$11,976
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
5.44%
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%
$239,520
$239.5K
Cap Rate 7%
$171,086
$171.1K
Cap Rate 9%
$133,067
$133.1K
Market Conditions
NOI Build-Up for 1,775 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
$18.1K $10.20/SF
− Vacancy
−$996 −$0.56/SF
EGI
$17.1K $9.64/SF
− OpEx
−$5.1K −$2.89/SF
NOI
$12.0K $6.75/SF
Area
Dona Ana County, NM
Vacancy
5.50%
Lease Rate
$10.20 /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%
$239,520
Cap Rate 7%
$171,086
Cap Rate 9%
$133,067
Alternative Uses
Best Use
Multifamily LT 5
$171.1K
$149.7K – $199.6K
NOI $11,976 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$153.9K
$134.7K – $179.6K
NOI $10,773 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$310.6K
$271.8K – $362.4K
NOI $21,743 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 88063, NM
11,408
Population
4,150
Households
2.7
Avg Household Size
33
Median Age
13%
College-Educated
67%
High-School Grad
6.2 sq mi
ZIP Area
1,840
Density / Sq Mi
$35,947
Median Household Income
$26,374
Median Earnings
$763
Median Rent
$121,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate homes each include private yard space, with a garage available for additional storage.
Where is this duplex located?
The property is located at 215 Ocotillo Dr Sunland Park, NM.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 1,775‑square‑foot duplex built in 1975; Two units, each with 2 bedrooms, 1 bathroom, a kitchen, and a living area; Separate yard space for each unit
