Updated Four-Unit
For Sale
$749,000
321 Wayne Rd Nw, Los Ranchos, NM 87114
Two one-bedroom units and a two-bedroom duplex create a flexible four-residence configuration.
Property Size3,000 SF
Lot Size0.50 Acres
Price / SF$249.67
Days on Market20
Property Features for 321 Wayne Rd Nw
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.50 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$8,380
Amenities
private front-yard area
on-site parking
Listing Agency:
Berkshire Hathaway NM Prop
(505) 263-4624
Listed By:
Steve L Soto · License #29767
(505) 263-4624
Source:
Exprealty
Added: Jul 21
Changed: Aug 4
Last Checked: Aug 9 at 10:51AM
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 Berkshire Hathaway NM Prop
Investment Insights
Based on property information with market context.
This four-unit residential property includes two separate one-bedroom residences and a duplex with two two-bedroom units. The units have been updated and are described as move-in ready, with three furnished units included. Each residence has a private front-yard area, while on-site parking serves the property as a whole.
The property occupies approximately 1/2 acre at 321 Wayne Rd Nw in Los Ranchos, within the North Valley. Separate electric meters serve each unit, and water is the only shared utility. The configuration supports four distinct living spaces within one property, with furnishing and utility arrangements already established across the units.
The property occupies approximately 1/2 acre at 321 Wayne Rd Nw in Los Ranchos, within the North Valley. Separate electric meters serve each unit, and water is the only shared utility. The configuration supports four distinct living spaces within one property, with furnishing and utility arrangements already established across the units.
Key Highlights
- Four units: two 1‑bedroom residences plus a duplex with two 2‑bedroom units
- Approximately 1/2‑acre property in the North Valley near Los Ranchos
- All units updated and described as move‑in ready
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
$25,005
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
3.34%
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%
$500,100
$500.1K
Cap Rate 7%
$357,214
$357.2K
Cap Rate 9%
$277,833
$277.8K
Market Conditions
NOI Build-Up for 3,000 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
$37.8K $12.60/SF
− Vacancy
−$2.1K −$0.69/SF
EGI
$35.7K $11.91/SF
− OpEx
−$10.7K −$3.57/SF
NOI
$25.0K $8.33/SF
Area
ZIP 87114
Vacancy
5.50%
Lease Rate
$12.60 /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%
$500,100
Cap Rate 7%
$357,214
Cap Rate 9%
$277,833
Alternative Uses
Best Use
Multifamily LT 5
$357.2K
$312.6K – $416.8K
NOI $25,005 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$327.0K
$286.2K – $381.6K
NOI $22,893 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$620.3K
$542.8K – $723.7K
NOI $43,423 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Explore this area
Business Placement
Demographics for 87114, NM
69,402
Population
28,038
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
20.9 sq mi
ZIP Area
3,321
Density / Sq Mi
$81,768
Median Household Income
$48,127
Median Earnings
$1,321
Median Rent
$296,200
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?
Quadplex - Two one-bedroom units and a two-bedroom duplex create a flexible four-residence configuration.
Where is this quadplex located?
The property is located at 321 Wayne Rd Nw Los Ranchos, NM.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Four units: two 1‑bedroom residences plus a duplex with two 2‑bedroom units; Approximately 1/2‑acre property in the North Valley near Los Ranchos; All units updated and described as move‑in ready
