Updated Pueblo-Style
For Sale
$295,000
3518 Eastern Avenue SE, Albuquerque, NM 87106
ResidentialIncome, Albuquerque, NM
Property Size1,282 SF
Lot Size0.11 Acres
Price / SF$230.11
Days on Market131
Property Features for 3518 Eastern Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-MH*
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Window features
Skylight(s)
Interior features
Skylights
Appliances
Dryer, FreeStandingElectricRange, Refrigerator, Washer
Subdivision
Knob Heights Add
Directions
From Carlilse and Central, head south to Eastern. Turn West on Eastern. Home is on the South side of the street
Standard status
Active
APN
101605649105740518
Size
1,282 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
1540
Utilities
Heating system
Ductless (Heating)
Cooling system
Ductless
Amenities
hardwood floors
fully fenced backyard
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Flooring type
Wood, Carpet
Building materials
Stucco
Listing Agency:
Lucky Dog Realty, LLC
(505) 270-5552
Listed By:
Kelly R Taliaferro · License #18922
(505) 270-5552
Added: Apr 22
Changed: Aug 27
Last Checked: Aug 30 at 2:06AM
MLS# 1104442
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.
Built in 1953, this 1,282-square-foot pueblo-style duplex contains two private one-bedroom, one-bath residences. Both units offer wood flooring, open living and kitchen areas, skylights, and access to a large fenced backyard. The property includes a free-standing electric range, refrigerator, washer, and dryer, with carpet also present in the interiors.
Recent property improvements include 3-inch insulated stucco, a TPO roof, double-pane windows, tankless water heaters, and ductless mini-split systems serving both units. One residence is occupied by a tenant, while the second has been freshly painted and is available for leasing or personal occupancy. The property sits on 0.11 acres at 3518 Eastern Avenue SE in Albuquerque, New Mexico.
Recent property improvements include 3-inch insulated stucco, a TPO roof, double-pane windows, tankless water heaters, and ductless mini-split systems serving both units. One residence is occupied by a tenant, while the second has been freshly painted and is available for leasing or personal occupancy. The property sits on 0.11 acres at 3518 Eastern Avenue SE in Albuquerque, New Mexico.
Key Highlights
- Two‑unit duplex totaling 1,282 square feet
- Two private 1‑bedroom, 1‑bath units
- 0.11‑acre lot at 3518 Eastern Avenue SE
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
$11,703
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
3.97%
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%
$234,060
$234.1K
Cap Rate 7%
$167,186
$167.2K
Cap Rate 9%
$130,033
$130.0K
Market Conditions
NOI Build-Up for 1,282 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
$17.7K $13.80/SF
− Vacancy
−$973 −$0.76/SF
EGI
$16.7K $13.04/SF
− OpEx
−$5.0K −$3.91/SF
NOI
$11.7K $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%
$234,060
Cap Rate 7%
$167,186
Cap Rate 9%
$130,033
Alternative Uses
Best Use
Multifamily LT 5
$167.2K
$146.3K – $195.1K
NOI $11,703 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$154.7K
$135.4K – $180.5K
NOI $10,829 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$310.1K
$271.4K – $361.8K
NOI $21,710 @ 7.0% cap · market cap 7.36%
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 private one-bedroom units share a fenced backyard and efficient ductless heating and cooling.
Where is this duplex located?
The property is located at 3518 Eastern Avenue SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,282 square feet; Two private 1‑bedroom, 1‑bath units; 0.11‑acre lot at 3518 Eastern Avenue SE
