Short-Term Rental Property with Owner's
For Sale
$495,000
2404 Cunningham Avenue SE, Albuquerque, NM 87106
ResidentialIncome, Albuquerque, NM
Property Size1,930 SF
Lot Size0.17 Acres
Price / SF$256.48
Days on Market75
Property Features for 2404 Cunningham Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
PC
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Parking
2
Interior features
CeilingFans
Exterior features
Lighting
Appliances
Dryer, Dishwasher, FreeStandingGasRange, Disposal, RangeHood, Washer
Subdivision
Mesa Del Sol Neighborhood Montage
Directions
Take University South to Strand Loop SE, west (right) to first street, north (right) on Cunningham to address.
Standard status
Active
APN
101605113008531020
Size
1,930 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
6957
Utilities
Heating system
Forced Air, Central
Cooling system
Ceiling Fan(s)
Building Details
Year built
2012
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Building materials
Frame, Stucco
Listing Agency:
Realty One of New Mexico
(505) 883-9400
Listed By:
Holly V Adams · License #39286
(505) 450-2981
Added: Jul 25
Changed: Sep 14
Last Checked: Oct 7 at 10:06AM
MLS# 1107955
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.
This 1,930-square-foot residential income property was built in 2012 and has been used as an Airbnb. The layout includes three bedrooms, two bathrooms, an open kitchen, and a primary suite separated from the main living areas. The owner’s unit includes all but a kitchenette, while much of the furniture may be available for purchase by the new owner. Interior features include 9-foot ceilings, recessed lighting, a large kitchen island with granite countertops, 42-inch birch cabinetry, stainless steel appliances, and a tankless water heater. Forced-air central heating, tile and carpet flooring, and a frame-and-stucco exterior are also present.
The property occupies 0.17 acres at 2404 Cunningham Avenue SE in Albuquerque’s Mesa Del Sol community. A community pool and park are located down the street. The residence also has a private outdoor area enclosed by a coyote fence, along with landscaping and a catio or bird sanctuary.
The property occupies 0.17 acres at 2404 Cunningham Avenue SE in Albuquerque’s Mesa Del Sol community. A community pool and park are located down the street. The residence also has a private outdoor area enclosed by a coyote fence, along with landscaping and a catio or bird sanctuary.
Key Highlights
- 1,930 square feet on a 0.17‑acre lot
- Used as an Airbnb with an owner’s unit including all but a kitchenette
- Three bedrooms and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,618
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,360
$352.4K
Cap Rate 7%
$251,686
$251.7K
Cap Rate 9%
$195,756
$195.8K
Market Conditions
NOI Build-Up for 1,930 SF
Gross rent
$26.6K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$25.2K $13.04/SF
− OpEx
−$7.6K −$3.91/SF
NOI
$17.6K $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%
$352,360
Cap Rate 7%
$251,686
Cap Rate 9%
$195,756
Alternative Uses
Best Use
Multifamily LT 5
$251.7K
$220.2K – $293.6K
NOI $17,618 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$232.9K
$203.8K – $271.7K
NOI $16,302 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$466.9K
$408.5K – $544.7K
NOI $32,683 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9 ft
Clear height
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
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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?
Short term rental property - Furnished short-term rental setup with a separate primary suite and private outdoor space in Mesa Del Sol.
Where is this short term rental property located?
The property is located at 2404 Cunningham Avenue SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,930 square feet on a 0.17‑acre lot; Used as an Airbnb with an owner’s unit including all but a kitchenette; Three bedrooms and two bathrooms
