Updated Triplex with
For Sale
$499,000
425 Fitzgerald Road NW, Albuquerque, NM 87107
ResidentialIncome, Albuquerque, NM
Property Size1,898 SF
Lot Size0.20 Acres
Price / SF$262.91
Days on Market435
Property Features for 425 Fitzgerald Road NW
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
MX-M*
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 4
Subdivision
Of Fitzgerald Add
Directions
South on 4th from Candelaria *West on Fitzgerald to 425*
Standard status
Active
APN
101406032410740709
Size
1,898 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
4001
Building Details
Year built
1940
Floors in Building
1
Number of units
3
Flooring type
Wood
Listing Agency:
Keller Williams Realty
(505) 271-8200
Listed By:
Anton F Determan · License #53934
(505) 818-9449
Added: Jul 20, 2025
Changed: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 1107630
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.
This triplex includes a 700-square-foot single-family home and a duplex with two 599-square-foot units. All three residences have been fully updated, and wood flooring is present. The property was built in 1940 and occupies 0.2 acres.
Located in Albuquerque’s 87107 ZIP code, the asset is currently tenant-occupied and reports a 7% cap rate. Its three-unit configuration provides a mix of standalone and duplex living spaces within one residential income property.
Located in Albuquerque’s 87107 ZIP code, the asset is currently tenant-occupied and reports a 7% cap rate. Its three-unit configuration provides a mix of standalone and duplex living spaces within one residential income property.
Key Highlights
- Three‑unit configuration with one single‑family home and one duplex
- 700‑square‑foot single‑family home
- Duplex includes two 599‑square‑foot units
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
$17,326
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
3.47%
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%
$346,520
$346.5K
Cap Rate 7%
$247,514
$247.5K
Cap Rate 9%
$192,511
$192.5K
Market Conditions
NOI Build-Up for 1,898 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
$26.2K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$24.8K $13.04/SF
− OpEx
−$7.4K −$3.91/SF
NOI
$17.3K $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 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%
$346,520
Cap Rate 7%
$247,514
Cap Rate 9%
$192,511
Alternative Uses
Best Use
Multifamily LT 5
$247.5K
$216.6K – $288.8K
NOI $17,326 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$229.0K
$200.4K – $267.2K
NOI $16,032 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$459.2K
$401.8K – $535.7K
NOI $32,141 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
Explore this area
Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied property combines a single-family home with a two-unit residential building.
Where is this triplex located?
The property is located at 425 Fitzgerald Road NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three‑unit configuration with one single‑family home and one duplex; 700‑square‑foot single‑family home; Duplex includes two 599‑square‑foot units
