Pueblo-Style
For Sale
$459,900
612 Camino De La Luz, Santa Fe, NM 87505
ResidentialIncome, Santa Fe, NM
Property Size1,552 SF
Lot Size0.12 Acres
Price / SF$296.33
Days on Market321
Property Features for 612 Camino De La Luz
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-1, 2, 3, 4, 5, 6
Zoning description
r 1, 2, 3, 4, 5
Bedrooms
6
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 1, Bathroom 2, Bedroom 3
Interior features
NoInteriorSteps
Elementary school
Acequia Madre
Middle school
Gonzales
High school
Santa Fe
Directions
Head north on S St Francis Drive, turn right onto Camino de la Luz. Continue along Camino de la Luz until you reach 612 Camino de la Luz (it will be on your left).
Special listing conditions
In Foreclosure
Standard status
Active
APN
018104295
Size
1,552 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
T17N R10E S30, 0.126 AC
Legal Description
T17N R10E S30, 0.126 AC
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1968
Floors in Building
2
Number of units
2
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX Avante · RE/MAX International
(505) 552-3088
Listed By:
Janet Frederick · License #19636
(720) 480-4803
Added: Oct 13, 2025
Changed: Aug 28
Last Checked: Aug 29 at 12:06PM
MLS# 202504680
Copyright © 2026 Santa Fe Association of REALTORS®, Inc. 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 1,552-square-foot duplex contains two residential units on a 0.12-acre parcel. The lower level includes three bedrooms and one bathroom, while the property’s room schedule identifies two bathrooms overall. Interior access is step-free, and the structure dates to 1968. The home requires repairs and updates, with a flat roof, forced-air heating, and natural gas service.
Located in Santa Fe, the property is near shops, dining, galleries, and cultural attractions. Public water and public sewer serve the site. Zoning is identified as R-1, 2, 3, 4, 5, and 6, providing the applicable residential land-use framework stated for the property.
Located in Santa Fe, the property is near shops, dining, galleries, and cultural attractions. Public water and public sewer serve the site. Zoning is identified as R-1, 2, 3, 4, 5, and 6, providing the applicable residential land-use framework stated for the property.
Key Highlights
- Two‑unit duplex with 1,552 square feet of property size
- 0.12‑acre parcel in Santa Fe, NM
- Lower‑level unit includes 3 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
$23,033
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
5.01%
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%
$460,660
$460.7K
Cap Rate 7%
$329,043
$329.0K
Cap Rate 9%
$255,922
$255.9K
Market Conditions
NOI Build-Up for 1,552 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
$34.5K $22.20/SF
− Vacancy
−$1.6K −$1.00/SF
EGI
$32.9K $21.20/SF
− OpEx
−$9.9K −$6.36/SF
NOI
$23.0K $14.84/SF
Area
Santa Fe County, NM
Vacancy
4.50%
Lease Rate
$22.20 /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%
$460,660
Cap Rate 7%
$329,043
Cap Rate 9%
$255,922
Alternative Uses
Best Use
Multifamily LT 5
$329.0K
$287.9K – $383.9K
NOI $23,033 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$304.2K
$266.2K – $354.9K
NOI $21,294 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$421.4K
$368.8K – $491.7K
NOI $29,500 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 87505, NM
32,078
Population
18,733
Households
1.7
Avg Household Size
52
Median Age
54%
College-Educated
94%
High-School Grad
65.1 sq mi
ZIP Area
493
Density / Sq Mi
$75,912
Median Household Income
$41,169
Median Earnings
$1,348
Median Rent
$484,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with a lower-level three-bedroom, one-bath unit and no interior steps.
Where is this duplex located?
The property is located at 612 Camino De La Luz Santa Fe, NM.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,552 square feet of property size; 0.12‑acre parcel in Santa Fe, NM; Lower‑level unit includes 3 bedrooms and 1 bathroom
