Updated Brick
For Sale
$410,000
3513 Crest Avenue SE, Albuquerque, NM 87106
ResidentialIncome, Albuquerque, NM
Property Size2,280 SF
Lot Size0.15 Acres
Price / SF$179.82
Days on Market64
Property Features for 3513 Crest Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-MH*
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 6, Bedroom 3
Appliances
FreeStandingElectricRange, Refrigerator
Subdivision
Hts Sub
Directions
Gibson to Crest.
Standard status
Active
APN
101605648104440502
Size
2,280 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
2904
Utilities
Heating system
Central, Forced Air
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Laminate, Tile
Listing Agency:
Coldwell Banker Legacy · Coldwell Banker Real Estate
(505) 828-1000
Listed By:
Gene Gardner Della Maggiora · License #REC20220546
(510) 684-2539
Added: Jun 25
Changed: Aug 27
Last Checked: Aug 27 at 9:06PM
MLS# 1106390
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 1960 duplex contains 2,280 square feet on a 0.15-acre lot, with a three-bedroom, one-and-a-half-bath layout in each unit. Interior updates completed in 2016 include tile and laminate flooring, while the brick exterior provides a durable building envelope. Each unit is equipped with a FreeStandingElectricRange and refrigerator. Heating includes forced air and central systems, and low-maintenance Mastercool units serve the property. The roof was replaced in 2020.
A converted garage area provides additional bonus space and is described as an unwarranted area occupied by an additional tenant. The property is near the airport, the upcoming MaxQ development, Kirtland AFB’s Carlisle Gate, UNM, Central dining and restaurants, shopping, and Nob Hill. The stated cap rate is approximately 10%-11%.
A converted garage area provides additional bonus space and is described as an unwarranted area occupied by an additional tenant. The property is near the airport, the upcoming MaxQ development, Kirtland AFB’s Carlisle Gate, UNM, Central dining and restaurants, shopping, and Nob Hill. The stated cap rate is approximately 10%-11%.
Key Highlights
- 2,280‑square‑foot duplex on a 0.15‑acre lot
- Three‑bedroom, one‑and‑a‑half‑bath configuration in each unit
- 2016 interior updates with tile and laminate flooring
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
5.08%
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 5.08%
Second Best
Apartment 5plus
$275.1K
$240.7K – $321.0K
NOI $19,258 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$551.6K
$482.6K – $643.5K
NOI $38,610 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
349
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 three-bedroom, one-and-a-half-bath layouts and durable low-maintenance finishes.
Where is this duplex located?
The property is located at 3513 Crest Avenue SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 2,280‑square‑foot duplex on a 0.15‑acre lot; Three‑bedroom, one‑and‑a‑half‑bath configuration in each unit; 2016 interior updates with tile and laminate flooring
