Updated Fourplex with
New
For Sale
$600,000
483 Vancouver Road SE, Rio Rancho, NM 87124
ResidentialIncome, Rio Rancho, NM
Property Size3,433 SF
Lot Size0.46 Acres
Price / SF$174.77
Days on Market1
Property Features for 483 Vancouver Road SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2
Parking
8
Patio and Porch features
Patio
Exterior features
Patio
Appliances
Dishwasher, FreeStandingGasRange, Refrigerator, RangeHood
Subdivision
Rio Rancho Estates
Directions
From Southern Blvd North on Baltic Ave (West of Unser) to Arkansas St, West on Arkansas to corner of Arkansas and Tulip which is the Fourplex on 483 Vancouver Rd SE.
Standard status
Active
APN
1009069478167
Size
3,433 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Annual Amount
2920
Utilities
Heating system
Forced Air
Amenities
washer/dryer hookups
storage units
backyard
Building Details
Year built
1997
Floors in Building
1
Number of units
4
Flooring type
Tile, Laminate, Carpet
Building materials
Frame, Stucco
Listing Agency:
R & R Real Estate Partners LLC
(505) 225-3570
Listed By:
Franz Redl · License #17808
(505) 280-6365
Added: Sep 7
Last Checked: Sep 7 at 5:06PM
MLS# 1110561
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 1997 fourplex contains 3,433 square feet across four approximately 850-square-foot apartments. Each residence offers two bedrooms, one bathroom, a kitchen with dining area, a large living room, and a private backyard. Individual storage units and washer/dryer hookups serve each apartment, while installed appliances include a dishwasher, freestanding gas range, refrigerator, and range hood. The property also includes patios, laminate, carpet, and tile flooring, forced-air heating, and frame-and-stucco construction.
The building occupies a 0.46-acre corner lot at 483 Vancouver Road SE in Rio Rancho, New Mexico. A metal roof was installed in 2021, and all four apartments are currently occupied.
The building occupies a 0.46-acre corner lot at 483 Vancouver Road SE in Rio Rancho, New Mexico. A metal roof was installed in 2021, and all four apartments are currently occupied.
Key Highlights
- Four‑apartment property with 3,433 square feet
- 0.46‑acre corner lot in Rio Rancho
- Each apartment is approximately 850 sf with 2 bedrooms and 1 bathroom
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
$30,676
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
5.11%
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%
$613,520
$613.5K
Cap Rate 7%
$438,229
$438.2K
Cap Rate 9%
$340,844
$340.8K
Market Conditions
NOI Build-Up for 3,433 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
$47.4K $13.80/SF
− Vacancy
−$3.6K −$1.04/SF
EGI
$43.8K $12.77/SF
− OpEx
−$13.1K −$3.83/SF
NOI
$30.7K $8.94/SF
Area
Rio Rancho, NM
Vacancy
7.50%
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%
$613,520
Cap Rate 7%
$438,229
Cap Rate 9%
$340,844
Alternative Uses
Best Use
Multifamily LT 5
$438.2K
$383.5K – $511.3K
NOI $30,676 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$407.3K
$356.4K – $475.1K
NOI $28,508 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$850.3K
$744.0K – $992.0K
NOI $59,520 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 87124, NM
59,781
Population
23,027
Households
2.6
Avg Household Size
40
Median Age
33%
College-Educated
94%
High-School Grad
77.9 sq mi
ZIP Area
767
Density / Sq Mi
$82,278
Median Household Income
$43,353
Median Earnings
$1,380
Median Rent
$262,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied income property with private outdoor space, laundry hookups, storage, and updated roofing.
Where is this quadplex located?
The property is located at 483 Vancouver Road SE Rio Rancho, NM.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Four‑apartment property with 3,433 square feet; 0.46‑acre corner lot in Rio Rancho; Each apartment is approximately 850 sf with 2 bedrooms and 1 bathroom
