Two-Building Quadplex
For Sale
$1,030,000
55-65 Darlene Rd, Rio Rancho, NM 87124
Eight occupied two-bedroom residences are arranged across two separately parceled buildings in Rio Rancho.
Property Size6,620 SF
Price / SF$155.59
Days on Market60
Property Features for 55-65 Darlene Rd
General Information
Standard status
Active
Size
6,620 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
minimal deferred maintenance
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Building Details
Year Built
1980
Buildings
2
Listing Agency:
Absolute Real Estate
(505) 318-6264
Listed By:
Michael Schlichte · License #17987
Source:
Myabqhomesearch
Added: Jul 1
Changed: Aug 28
Last Checked: Aug 25 at 7:14AM
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 Absolute Real Estate
Investment Insights
Based on property information with market context.
This multifamily offering includes two separately parceled fourplex buildings conveyed together. The property contains eight two-bedroom, one-bath residences, with all units currently occupied by long-standing tenants. The units are described as clean, functional, and well maintained, with ongoing care supporting limited deferred maintenance.
Built in 1980, the buildings are located at 55-65 Darlene Rd in Rio Rancho, New Mexico. The combined offering provides a consistent eight-unit configuration across the two parcels, with current occupancy and an established tenant base.
Built in 1980, the buildings are located at 55-65 Darlene Rd in Rio Rancho, New Mexico. The combined offering provides a consistent eight-unit configuration across the two parcels, with current occupancy and an established tenant base.
Key Highlights
- Two separately parceled fourplex buildings offered together
- Eight total units, each with two bedrooms and one bathroom
- All units currently occupied by long‑standing tenants
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
$59,153
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
5.74%
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%
$1,183,060
$1.2M
Cap Rate 7%
$845,043
$845.0K
Cap Rate 9%
$657,256
$657.3K
Market Conditions
NOI Build-Up for 6,620 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
$91.4K $13.80/SF
− Vacancy
−$6.9K −$1.04/SF
EGI
$84.5K $12.77/SF
− OpEx
−$25.4K −$3.83/SF
NOI
$59.2K $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%
$1,183,060
Cap Rate 7%
$845,043
Cap Rate 9%
$657,256
Alternative Uses
Best Use
Multifamily LT 5
$845.0K
$739.4K – $985.9K
NOI $59,153 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$785.3K
$687.2K – $916.2K
NOI $54,973 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,775 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
206
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 - Eight occupied two-bedroom residences are arranged across two separately parceled buildings in Rio Rancho.
Where is this quadplex located?
The property is located at 55-65 Darlene Rd Rio Rancho, NM.
What is the asking price?
The asking price for this property is $1,030,000.
What are key features of this property?
This property features: Two separately parceled fourplex buildings offered together; Eight total units, each with two bedrooms and one bathroom; All units currently occupied by long‑standing tenants
