Triplex Requiring Extensive
For Sale
$255,000
336 Rhode Island Street NE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size2,375 SF
Lot Size0.16 Acres
Price / SF$107.37
Days on Market13
Property Features for 336 Rhode Island Street NE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-ML*
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bedroom 1
Subdivision
Mesa Verde Addition
Directions
From Lomas and Wyoming, South on Wyoming to Copper, West on Copper to Rhode Island, South on Rhode Island to triplex.
Special listing conditions
In Foreclosure
Standard status
Active
APN
101905732625541826
Size
2,375 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2541
Building Details
Year built
1957
Floors in Building
1
Number of units
3
Flooring type
Vinyl
Listing Agency:
Berkshire Hathaway NM Prop · Berkshire Hathaway HomeServices
(505) 798-6300
Listed By:
Melinda M Baisa · License #35593
(505) 453-6264
Added: Aug 17
Changed: Aug 26
Last Checked: Aug 29 at 6:06PM
MLS# 1109419
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 triplex property contains 2,375 square feet on a 0.16-acre lot and was built in 1957. The interior includes vinyl flooring, bedrooms, and bathrooms, while the overall condition requires extensive renovation. Reported repair needs include the roof, plumbing, flooring, paint, and remediation of water damage.
The city has cited the property as substandard, and the structure is not considered safe to enter. It is offered as-is, with no repairs to be completed by the seller. The property is located at 336 Rhode Island Street NE in Albuquerque, New Mexico 87108.
The city has cited the property as substandard, and the structure is not considered safe to enter. It is offered as-is, with no repairs to be completed by the seller. The property is located at 336 Rhode Island Street NE in Albuquerque, New Mexico 87108.
Key Highlights
- Triplex property with 2,375 square feet of building area
- Situated on a 0.16‑acre lot
- Built in 1957
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
$21,681
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
8.50%
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%
$433,620
$433.6K
Cap Rate 7%
$309,729
$309.7K
Cap Rate 9%
$240,900
$240.9K
Market Conditions
NOI Build-Up for 2,375 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
$32.8K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$31.0K $13.04/SF
− OpEx
−$9.3K −$3.91/SF
NOI
$21.7K $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 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%
$433,620
Cap Rate 7%
$309,729
Cap Rate 9%
$240,900
Alternative Uses
Best Use
Multifamily LT 5
$309.7K
$271.0K – $361.4K
NOI $21,681 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$286.6K
$250.8K – $334.4K
NOI $20,061 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$574.6K
$502.7K – $670.3K
NOI $40,219 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - As-is triplex property requiring substantial renovation and remediation before it is move-in ready.
Where is this triplex located?
The property is located at 336 Rhode Island Street NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Triplex property with 2,375 square feet of building area; Situated on a 0.16‑acre lot; Built in 1957
