Two-Unit Duplex with Off-Street
For Sale
$219,900
513 Utah St, Albuquerque, NM 87108
Two residential units feature tile flooring, laundry hookups, separately metered utilities, and convenient off-street parking.
Property Size1,536 SF
Price / SF$143.16
Days on Market61
Property Features for 513 Utah St
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Residential Income
Building Details
Year Built
1959
Listing Agency:
Keller Williams Realty
(505) 401-0721
Listed By:
Faithe Real Estate Group
Source:
Myabqhomesearch
Added: Jul 3
Changed: Aug 31
Last Checked: Aug 31 at 5:35PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 1,536-square-foot duplex at 513 Utah St in Albuquerque includes two residential units, each configured with 2 bedrooms and 1 full bathroom. Both units have durable tile flooring throughout, in-unit laundry hookups, and off-street parking for up to two vehicles. Gas and electric utilities are separately metered for each unit. Built in 1959, the property offers a straightforward two-unit configuration for an owner-occupant or income-property buyer.
The property is positioned near shopping, restaurants, schools, parks, and major commuter routes, providing access to everyday services and transportation connections. Its unit-level utility metering and laundry hookups add practical functionality for both ownership and occupancy.
The property is positioned near shopping, restaurants, schools, parks, and major commuter routes, providing access to everyday services and transportation connections. Its unit-level utility metering and laundry hookups add practical functionality for both ownership and occupancy.
Key Highlights
- Two‑unit duplex with 1,536 square feet
- Each unit has 2 bedrooms and 1 full bathroom
- Off‑street parking for up to two vehicles per unit
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
$14,022
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
6.38%
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%
$280,440
$280.4K
Cap Rate 7%
$200,314
$200.3K
Cap Rate 9%
$155,800
$155.8K
Market Conditions
NOI Build-Up for 1,536 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
$21.2K $13.80/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$20.0K $13.04/SF
− OpEx
−$6.0K −$3.91/SF
NOI
$14.0K $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%
$280,440
Cap Rate 7%
$200,314
Cap Rate 9%
$155,800
Alternative Uses
Best Use
Multifamily LT 5
$200.3K
$175.3K – $233.7K
NOI $14,022 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$185.3K
$162.2K – $216.2K
NOI $12,974 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$371.6K
$325.1K – $433.5K
NOI $26,011 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
669
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature tile flooring, laundry hookups, separately metered utilities, and convenient off-street parking.
Where is this duplex located?
The property is located at 513 Utah St Albuquerque, NM.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,536 square feet; Each unit has 2 bedrooms and 1 full bathroom; Off‑street parking for up to two vehicles per unit
