Duplex with Detached
For Sale
$300,000
412 Harvard Dr SE, Albuquerque, NM 87106
Two-unit property with a three-bedroom main residence and an occupied one-bedroom casita.
Property Size1,460 SF
Price / SF$205.48
Days on Market61
Property Features for 412 Harvard Dr SE
General Information
Standard status
Active
Size
1,460 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1941
Buildings
2
Listing Agency:
Realty One of New Mexico
Listed By:
Premier Realty Partners
(505) 550-8331
Source:
Thesouthwestlife
Added: Aug 15
Changed: Sep 26
Last Checked: Oct 7 at 3:14PM
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 Realty One of New Mexico
Investment Insights
Based on property information with market context.
This duplex includes a 1,460-square-foot main residence with three bedrooms and two baths, plus a detached casita configured with one bedroom and one bath. The casita has a tenant in place, and both structures are enclosed within a fully fenced property. A separate fenced section serves the casita, providing distinct outdoor space from the main residence.
The property was built in 1941 and is located less than 10 minutes from UNM Hospital and approximately 3 minutes from the UNM main campus. The layout supports separate occupancy of the two residences, with the larger home and detached casita offering distinct living areas on one parcel.
The property was built in 1941 and is located less than 10 minutes from UNM Hospital and approximately 3 minutes from the UNM main campus. The layout supports separate occupancy of the two residences, with the larger home and detached casita offering distinct living areas on one parcel.
Key Highlights
- 1,460‑square‑foot main residence with 3 bedrooms and 2 baths
- Detached 1‑bedroom, 1‑bath casita
- Tenant already in place in the casita
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,328
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,560
$266.6K
Cap Rate 7%
$190,400
$190.4K
Cap Rate 9%
$148,089
$148.1K
Market Conditions
NOI Build-Up for 1,460 SF
Gross rent
$20.1K $13.80/SF
− Vacancy
−$1.1K −$0.76/SF
EGI
$19.0K $13.04/SF
− OpEx
−$5.7K −$3.91/SF
NOI
$13.3K $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 Rate 5%
$266,560
Cap Rate 7%
$190,400
Cap Rate 9%
$148,089
Alternative Uses
Best Use
Multifamily LT 5
$190.4K
$166.6K – $222.1K
NOI $13,328 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$176.2K
$154.2K – $205.5K
NOI $12,332 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$353.2K
$309.1K – $412.1K
NOI $24,724 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,215
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a three-bedroom main residence and an occupied one-bedroom casita.
Where is this duplex located?
The property is located at 412 Harvard Dr SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,460‑square‑foot main residence with 3 bedrooms and 2 baths; Detached 1‑bedroom, 1‑bath casita; Tenant already in place in the casita
