Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Hagerman Multifamily Investment Opportunity Title is generated by Realmo AI

    400 S Manchester Avenue, Hagerman, NM 88232

    View on Map
    Claim this Listing
    For Sale
    $146,000

    MULTI_FAMILY - Hagerman, NM

    Lot size:
    0.38 Acres
    Added:
    Mar 24, 2025
    Days on Market:
    418
    Last Refresh:
    May 15 at 2:06 am

    Property Features for 400 S Manchester Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    4148082212012000000
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    CUMPSTEN & COWAN Block: 3 Lot: 2 AND:- Lot: 3 AND:- Lot: 4 E 8' N 130'
    Tax Annual Amount
    302

    Building Details

    Floors in Building
    1
    Number of units
    3
    Building materials
    Frame, Stucco
    Roof type
    Metal

    We can help!

    Listing Contact
    Fabiola Sotelo
    Fabiola Sotelo

    Listing agent Fabiola Sotelo

    Listing office Lois Oliver Real Estate 210 S Roselawn, Artesia, NM

    Listing date Mar 24, 2025

    MLS# 20251646 Listing URL

    Copyright © 2026 New Mexico MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Multiple Income Streams: Duplex plus separate studio apartment offer diverse rental income opportunities.
    • Investment or Owner‑Occupant: Ideal for investors or those seeking to live in one unit and rent the others.
    • Affordable Price: Listed at $150,000, providing an accessible entry point into income‑producing real estate.
    • Flexible Living Spaces: Suitable for long‑term rentals, short‑term rentals, or multi‑generational living.
    • Location: Situated in the quiet, charming community of Hagerman, NM.
    • Durable Construction: Features frame and stucco construction with a metal roof.

    Overview

    Located at 400 S Manchester Ave in Hagerman, NM, this property presents an investment opportunity. The property features a duplex and a separate studio apartment, offering multiple income streams. The setup allows an owner to live in one unit while renting out the others. The property is situated in the community of Hagerman and offers rental potential. The separate living spaces provide flexibility for long-term rentals, short-term rentals, or multi-generational living. The lot size is 0.382 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Spa & Massage Center Auto Repair Shop Big Box & Wholesale Store Hair Salon Nail Salon Auto Parts Store Food Market Discount Store Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hagerman
    County
    Chaves
    State
    New Mexico
    Longitude
    -104.329237
    Latitude
    33.110212

    Nearby Similar for Sale

    • $945,255
      9,289 SF

      Family Dollar Store in Hagerman

      Operating Family Dollar store in Hagerman, New Mexico for sale.
      602b W Argyle St, Hagerman, NM 88232
      View Details
    • $945,255
      9,289 SF

      Established Retail Property in Hagerman

      Retail property with long-term tenant in Hagerman, New Mexico.
      602 B Argyle St, Hagerman, NM
      View Details

    FAQs

    What type of property is this?
    Triplex - Duplex plus studio in Hagerman, NM. Great investment potential.
    Where is this triplex located?
    The property is located at 400 S Manchester Avenue Hagerman, NM.
    What is the asking price?
    The asking price for this property is $146,000.
    What are key features of this property?
    This property features: Multiple Income Streams: Duplex plus separate studio apartment offer diverse rental income opportunities.; Investment or Owner‑Occupant: Ideal for investors or those seeking to live in one unit and rent the others.; Affordable Price: Listed at $150,000, providing an accessible entry point into income‑producing real estate.
    (575) 513-1313
    We can help!
    Listing Contact
    Fabiola Sotelo
    Fabiola Sotelo
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    400 S Manchester Avenue, Hagerman, NM 88232
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!