Two-Unit Duplex with Off-Street
For Sale
$225,000
513 Utah Street SE, Albuquerque, NM 87108
MULTI_FAMILY - Albuquerque, NM
Property Size1,536 SF
Lot Size0.16 Acres
Price / SF$146.48
Days on Market37
Property Features for 513 Utah Street SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-ML*
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1
Appliances
FreeStandingGasRange
Subdivision
Terrace Sub
Directions
From I-40 Go South on Wyoming Blvd to Trumbull, Go West on Trumbull, Turn South on Utah, duplex will be on the West side.
Standard status
Active
APN
101905639837610808
Size
1,536 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2093
Amenities
Tile flooring
In-unit laundry hookups
Separately metered gas and electric utilities
Off-street parking
Building Details
Year built
1959
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Frame
Listing Agency:
Keller Williams Realty
(505) 271-8200
Listed By:
Faithe Real Estate Group
(505) 401-0721
Added: Jul 6
Changed: Aug 10
Last Checked: Aug 11 at 7:06PM
MLS# 1107191
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 1,536-square-foot duplex contains two separately configured units, with each offering two bedrooms and one full bathroom. Built in 1959 with frame construction, the property features tile flooring throughout, in-unit laundry hookups, and a freestanding gas range in each unit. Gas and electric utilities are separately metered for the individual units. Off-street parking accommodates up to two vehicles per unit.
The property occupies 0.16 acres at 513 Utah Street SE in Albuquerque, within ZIP code 87108. Shopping, restaurants, schools, parks, and major commuter routes are identified in the surrounding area. The two-unit layout supports both multifamily ownership and owner occupancy.
The property occupies 0.16 acres at 513 Utah Street SE in Albuquerque, within ZIP code 87108. Shopping, restaurants, schools, parks, and major commuter routes are identified in the surrounding area. The two-unit layout supports both multifamily ownership and owner occupancy.
Key Highlights
- Two‑unit duplex with 1,536 square feet of total property size
- Each unit offers 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
6.23%
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 6.23%
Second Best
Apartment 5plus
$185.3K
$162.2K – $216.2K
NOI $12,974 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$371.6K
$325.1K – $433.5K
NOI $26,011 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
755
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 - Each residence includes two bedrooms, one bathroom, and in-unit laundry hookups.
Where is this duplex located?
The property is located at 513 Utah Street SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,536 square feet of total property size; Each unit offers 2 bedrooms and 1 full bathroom; Off‑street parking for up to two vehicles per unit
