Updated Duplex with Brick
For Sale
$415,000
3513 Crest Ave Se, Albuquerque, NM 87106
Two-unit property with durable cooling systems and a 2020 roof replacement.
Property Size2,280 SF
Price / SF$182.02
Days on Market42
Property Features for 3513 Crest Ave Se
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Cap Rate
11%
Taxes and HOA fees
Annual Taxes
$2,904
Building Details
Buildings
1
Construction
brick
Listing Agency:
Coldwell Banker Legacy
(510) 684-2539
Listed By:
Gene Gardner Della Maggiora · License #REC20220546
(510) 684-2539
Source:
Exprealty
Added: Jun 29
Changed: Aug 6
Last Checked: Aug 8 at 9:22AM
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 Coldwell Banker Legacy
Investment Insights
Based on property information with market context.
This 2,280-square-foot duplex contains two units, each configured with 3 bedrooms and 1.5 bathrooms. The property was updated in 2016 and features brick exterior walls, durable Mastercool units, and a roof replaced in 2020. A garage area has been converted into an unwarranted bonus space that is currently housing an additional tenant.
The property is near the airport, the planned MaxQ development, and the Kirtland AFB Carlisle Gate. UNM, Central dining and restaurants, shopping, and Nob Hill are also nearby. The source information indicates an approximate 10%-11% cap rate.
The property is near the airport, the planned MaxQ development, and the Kirtland AFB Carlisle Gate. UNM, Central dining and restaurants, shopping, and Nob Hill are also nearby. The source information indicates an approximate 10%-11% cap rate.
Key Highlights
- 2,280‑square‑foot duplex with two 3‑bedroom, 1.5‑bath units
- Updated in 2016 with low‑maintenance flooring noted in the property information
- Brick exterior construction and durable Mastercool cooling units
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
$20,813
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
5.02%
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%
$416,260
$416.3K
Cap Rate 7%
$297,329
$297.3K
Cap Rate 9%
$231,256
$231.3K
Market Conditions
NOI Build-Up for 2,280 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
$31.5K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$29.7K $13.04/SF
− OpEx
−$8.9K −$3.91/SF
NOI
$20.8K $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%
$416,260
Cap Rate 7%
$297,329
Cap Rate 9%
$231,256
Alternative Uses
Best Use
Multifamily LT 5
$297.3K
$260.2K – $346.9K
NOI $20,813 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$275.1K
$240.7K – $321.0K
NOI $19,258 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$551.6K
$482.6K – $643.5K
NOI $38,610 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
334
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with durable cooling systems and a 2020 roof replacement.
Where is this duplex located?
The property is located at 3513 Crest Ave Se Albuquerque, NM.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 2,280‑square‑foot duplex with two 3‑bedroom, 1.5‑bath units; Updated in 2016 with low‑maintenance flooring noted in the property information; Brick exterior construction and durable Mastercool cooling units
