Two-Parceled 4-Plex
For Sale
$1,030,000
55-65 Darlene Road SE, Rio Rancho, NM 87124
MULTI_FAMILY - Rio Rancho, NM
Property Size6,620 SF
Lot Size0.41 Acres
Price / SF$155.59
Days on Market49
Property Features for 55-65 Darlene Road SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-3
Bedrooms
2
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 8, Bedroom 1, Bathroom 1, Bathroom 6, Bathroom 7, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 2, Bathroom 5
Exterior features
Lighting
Appliances
Dishwasher, Refrigerator
Subdivision
Casa Del Rio
Directions
From Unser and 2nd St. head West on 2nd St., Left on Eventide, Left on Darlene.
Standard status
Active
APN
1011069214367
Size
6,620 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Annual Amount
4174
Utilities
Heating system
Central, Forced Air
Building Details
Year built
1980
Floors in Building
2
Number of units
8
Flooring type
Carpet
Building materials
Frame, Stucco
Listing Agency:
Absolute Real Estate
(505) 681-8578
Listed By:
Michael Schlichte · License #17987
(505) 318-6264
Added: Jul 8
Changed: Aug 2
Last Checked: Aug 25 at 1:06PM
MLS# 1107083
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 portfolio includes two separately parceled 4-plex buildings being offered together. The property totals eight units, each configured as a 2-bedroom, 1-bath layout, and the units are currently occupied by long-standing tenants. The buildings are described as clean and well-maintained.
The property is located at 55–65 Darlene Road SE in Rio Rancho, New Mexico. The buildings have frame and stucco construction and were built in 1980. Central forced air heating and carpet flooring are provided, and in-unit appliances include a dishwasher and refrigerator. Exterior features include lighting.
The offering provides a single purchase opportunity for buyers seeking a performing multi-family asset comprised of two separately parceled 4-plex buildings with consistently utilized unit layouts.
The property is located at 55–65 Darlene Road SE in Rio Rancho, New Mexico. The buildings have frame and stucco construction and were built in 1980. Central forced air heating and carpet flooring are provided, and in-unit appliances include a dishwasher and refrigerator. Exterior features include lighting.
The offering provides a single purchase opportunity for buyers seeking a performing multi-family asset comprised of two separately parceled 4-plex buildings with consistently utilized unit layouts.
Key Highlights
- Two separately parceled 4‑plex buildings offered together
- Eight occupied units with 2‑bedroom, 1‑bath layout
- 0.41 acres and 6,620 SF total building size
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
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
210
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 - Two separately parceled 4-plex buildings with eight occupied 2-bedroom, 1-bath units.
Where is this quadplex located?
The property is located at 55-65 Darlene Road SE 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 4‑plex buildings offered together; Eight occupied units with 2‑bedroom, 1‑bath layout; 0.41 acres and 6,620 SF total building size
