Three-Unit Residential
For Sale
$525,000
4013 Thaxton Ave Se, Albuquerque, NM 87108
Triplex with two two-bedroom homes and one one-bedroom residence, each equipped with an in-unit washer and dryer.
Property Size2,734 SF
Price / SF$192.03
Days on Market26
Property Features for 4013 Thaxton Ave Se
General Information
Standard status
Active
Size
2,734 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Asking Price
$525,000
Taxes and HOA fees
Annual Taxes
$1,920
Amenities
in-unit washer and dryer
dishwasher
fireplace
Listing Agency:
Berger Briggs RE & Prop Mgmt
(505) 980-6151
Listed By:
Harrison Alley · License #48822
(505) 980-6151
Source:
Exprealty
Added: Aug 4
Changed: Aug 20
Last Checked: Aug 28 at 2:45PM
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 Berger Briggs RE & Prop Mgmt
Investment Insights
Based on property information with market context.
This residential income property contains three units: two two-bedroom, one-bath residences and one one-bedroom, one-bath residence. The homes feature practical layouts with large kitchens and private laundry equipment in each unit.
The one-bedroom residence also includes a dishwasher and fireplace, adding features not identified for the other units. The property is located on Thaxton Avenue SE in Albuquerque, New Mexico.
The one-bedroom residence also includes a dishwasher and fireplace, adding features not identified for the other units. The property is located on Thaxton Avenue SE in Albuquerque, New Mexico.
Key Highlights
- Triplex configuration with two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Each residence includes a large kitchen
- In‑unit washer and dryer provided in all three residences
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
$24,958
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
4.75%
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%
$499,160
$499.2K
Cap Rate 7%
$356,543
$356.5K
Cap Rate 9%
$277,311
$277.3K
Market Conditions
NOI Build-Up for 2,734 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
$37.7K $13.80/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$35.7K $13.04/SF
− OpEx
−$10.7K −$3.91/SF
NOI
$25.0K $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%
$499,160
Cap Rate 7%
$356,543
Cap Rate 9%
$277,311
Alternative Uses
Best Use
Multifamily LT 5
$356.5K
$312.0K – $416.0K
NOI $24,958 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$329.9K
$288.7K – $384.9K
NOI $23,093 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$661.4K
$578.7K – $771.7K
NOI $46,299 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
400
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 - Triplex with two two-bedroom homes and one one-bedroom residence, each equipped with an in-unit washer and dryer.
Where is this triplex located?
The property is located at 4013 Thaxton Ave Se Albuquerque, NM.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Triplex configuration with two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Each residence includes a large kitchen; In‑unit washer and dryer provided in all three residences
