Residential Income Property with
New
For Sale
$265,000
4049 Canterra Arc, Las Cruces, NM 88011
Well-maintained condominium with an open living area, community pool, and flexible second-bedroom use.
Property Size1,355 SF
Price / SF$195.57
Days on Market4
Property Features for 4049 Canterra Arc
General Information
Standard status
Active
Size
1,355 SF
Property subtype
Commercial
Units
Unit Mix
1 x 2BR/1.75BA
Multifamily Units
1
Amenities
community pool
Building Details
Year Built
2006
Listing Agency:
Mesa Flats Realty
Listed By:
Joel Gilbert · License #REC20230006
(575) 639-0093
Source:
Mesaflatsrealty
Added: Sep 12
Last Checked: Sep 14 at 5:14AM
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 Mesa Flats Realty
Investment Insights
Based on property information with market context.
This residential income property is a 1,355-square-foot condominium completed in 2006, with two bedrooms and 1.75 baths. The interior combines tile and carpet finishes with a connected living, dining, and kitchen arrangement. A primary bedroom provides dedicated private space, while the second bedroom can accommodate guests, office use, or additional living needs. The home is described as well maintained and suited to everyday occupancy or entertaining.
Residents have access to a community pool, and the property is located near shopping, dining, recreation, and everyday amenities at 4049 Canterra Arc in Las Cruces, New Mexico. The source information identifies the property as appropriate for homeowners, retirees, or investors.
Residents have access to a community pool, and the property is located near shopping, dining, recreation, and everyday amenities at 4049 Canterra Arc in Las Cruces, New Mexico. The source information identifies the property as appropriate for homeowners, retirees, or investors.
Key Highlights
- 1,355‑square‑foot condominium with two bedrooms and 1.75 baths
- Built in 2006
- Open connection between living, dining, and kitchen areas
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
$8,224
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
3.10%
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%
$164,480
$164.5K
Cap Rate 7%
$117,486
$117.5K
Cap Rate 9%
$91,378
$91.4K
Market Conditions
NOI Build-Up for 1,355 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
$15.8K $11.64/SF
− Vacancy
−$820 −$0.61/SF
EGI
$15.0K $11.03/SF
− OpEx
−$6.7K −$4.97/SF
NOI
$8.2K $6.07/SF
Area
Las Cruces, NM
Vacancy
5.20%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$164,480
Cap Rate 7%
$117,486
Cap Rate 9%
$91,378
Alternative Uses
Best Use
Apartment 5plus
$117.5K
$102.8K – $137.1K
NOI $8,224 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$237.1K
$207.5K – $276.6K
NOI $16,598 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
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Business Placement
Demographics for 88011, NM
32,885
Population
15,160
Households
2.2
Avg Household Size
43
Median Age
55%
College-Educated
95%
High-School Grad
251.7 sq mi
ZIP Area
131
Density / Sq Mi
$75,139
Median Household Income
$43,093
Median Earnings
$1,053
Median Rent
$315,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Well-maintained condominium with an open living area, community pool, and flexible second-bedroom use.
Where is this residential income property located?
The property is located at 4049 Canterra Arc Las Cruces, NM.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1,355‑square‑foot condominium with two bedrooms and 1.75 baths; Built in 2006; Open connection between living, dining, and kitchen areas
