Two-Parceled 4-Plex Apartment
For Sale
$1,030,000
309-313 Geraldine Loop SE, Rio Rancho, NM 87124
MULTI_FAMILY - Rio Rancho, NM
Property Size6,684 SF
Lot Size0.57 Acres
Price / SF$154.10
Days on Market49
Property Features for 309-313 Geraldine Loop SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-3
Bedrooms
2
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 8, Bedroom 1, Bathroom 1, Bathroom 6, Bathroom 7, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 2, Bathroom 5
Exterior features
Lighting
Appliances
Dishwasher, Refrigerator
Subdivision
Star Heights 2
Directions
From unser and 5th head West on 5th, Right on 18th St. Left on Geraldine.
Standard status
Active
APN
1011069267181
Size
6,684 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Annual Amount
3716
Utilities
Heating system
Central, Forced Air
Building Details
Year built
1980
Floors in Building
2
Number of units
8
Flooring type
Carpet
Building materials
Frame, Stucco
Listing Agency:
Absolute Real Estate
(505) 681-8578
Listed By:
Michael Schlichte · License #17987
(505) 318-6264
Added: Jul 8
Changed: Aug 2
Last Checked: Aug 25 at 12:06PM
MLS# 1107082
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 apartment portfolio features two separately parceled 4-plex buildings offered for sale together, totaling eight units. The units are 2-bedroom, 1-bath floorplans and are currently occupied by long-standing tenants. The property was built in 1980 and has frame and stucco construction, with carpet flooring. Heating is provided by central forced air. Exterior features include lighting, and unit appliances include a dishwasher and refrigerator.
The buildings are located at 309-313 Geraldine Loop SE in Rio Rancho, New Mexico (Sandoval County), ZIP 87124, on a 0.57-acre lot.
For investors seeking an income-producing multi-family asset, this configuration provides a single acquisition with two separately parceled buildings and eight occupied units.
The buildings are located at 309-313 Geraldine Loop SE in Rio Rancho, New Mexico (Sandoval County), ZIP 87124, on a 0.57-acre lot.
For investors seeking an income-producing multi-family asset, this configuration provides a single acquisition with two separately parceled buildings and eight occupied units.
Key Highlights
- 0.57‑acre lot with two separately parceled 4‑plex buildings offered for sale together
- Eight total units: 2‑bedroom, 1‑bath configuration
- Currently occupied by long‑standing tenants
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
$55,505
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
5.39%
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%
$1,110,100
$1.1M
Cap Rate 7%
$792,929
$792.9K
Cap Rate 9%
$616,722
$616.7K
Market Conditions
NOI Build-Up for 6,684 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
$108.3K $16.20/SF
− Vacancy
−$7.4K −$1.10/SF
EGI
$100.9K $15.10/SF
− OpEx
−$45.4K −$6.79/SF
NOI
$55.5K $8.30/SF
Area
Rio Rancho, NM
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,110,100
Cap Rate 7%
$792,929
Cap Rate 9%
$616,722
Alternative Uses
Best Use
Apartment 5plus
$792.9K
$693.8K – $925.1K
NOI $55,505 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,885 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 87124, NM
59,781
Population
23,027
Households
2.6
Avg Household Size
40
Median Age
33%
College-Educated
94%
High-School Grad
77.9 sq mi
ZIP Area
767
Density / Sq Mi
$82,278
Median Household Income
$43,353
Median Earnings
$1,380
Median Rent
$262,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Portfolio includes two separately parceled 4-plex buildings with eight occupied 2-bedroom, 1-bath units and central forced-air heat.
Where is this apartment building located?
The property is located at 309-313 Geraldine Loop SE Rio Rancho, NM.
What is the asking price?
The asking price for this property is $1,030,000.
What are key features of this property?
This property features: 0.57‑acre lot with two separately parceled 4‑plex buildings offered for sale together; Eight total units: 2‑bedroom, 1‑bath configuration; Currently occupied by long‑standing tenants
