Updated Two-Unit
For Sale
$245,499
636 San Pablo St, Albuquerque, NM 87108
Two one-bedroom residences with refreshed interiors, shared laundry, and off-street parking.
Property Size1,242 SF
Price / SF$197.66
Days on Market64
Property Features for 636 San Pablo St
General Information
Standard status
Active
Size
1,242 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
on-site laundry
Building Details
Year Built
1957
Listing Agency:
Keller Williams Realty
(505) 375-2062
Listed By:
Medina Real Estate Inc
Source:
Albuquerquehomefinders
Added: Jun 28
Changed: Aug 29
Last Checked: Aug 29 at 5:43PM
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 1,242-square-foot duplex, built in 1957, contains two one-bedroom, one-bath units. One residence is occupied, while the other has been refreshed with new interior paint, 4-inch baseboards, a new bathroom vanity, new closet and bathroom doors, and rekeyable locks. The property also includes tile flooring, updated electrical and plumbing, new ranges, MasterCool air conditioners, a wall heater, and a water heater.
A newer roof and 6-foot privacy fence add to the physical improvements. Both units share on-site laundry, with off-street parking and a spacious backyard supporting the property’s residential configuration. The duplex is located at 636 San Pablo St in Albuquerque, New Mexico.
A newer roof and 6-foot privacy fence add to the physical improvements. Both units share on-site laundry, with off-street parking and a spacious backyard supporting the property’s residential configuration. The duplex is located at 636 San Pablo St in Albuquerque, New Mexico.
Key Highlights
- Two 1‑bedroom, 1‑bath units within a 1,242‑square‑foot duplex
- One unit occupied; second unit recently refreshed and move‑in ready
- Recent improvements include updated electrical and plumbing, new ranges, and MasterCool air conditioners
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
$11,338
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
4.62%
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%
$226,760
$226.8K
Cap Rate 7%
$161,971
$162.0K
Cap Rate 9%
$125,978
$126.0K
Market Conditions
NOI Build-Up for 1,242 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
$17.1K $13.80/SF
− Vacancy
−$943 −$0.76/SF
EGI
$16.2K $13.04/SF
− OpEx
−$4.9K −$3.91/SF
NOI
$11.3K $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%
$226,760
Cap Rate 7%
$161,971
Cap Rate 9%
$125,978
Alternative Uses
Best Use
Multifamily LT 5
$162.0K
$141.7K – $189.0K
NOI $11,338 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$149.9K
$131.1K – $174.9K
NOI $10,491 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$300.5K
$262.9K – $350.6K
NOI $21,033 @ 7.0% cap · market cap 8.57%
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
685
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 one-bedroom residences with refreshed interiors, shared laundry, and off-street parking.
Where is this duplex located?
The property is located at 636 San Pablo St Albuquerque, NM.
What is the asking price?
The asking price for this property is $245,499.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath units within a 1,242‑square‑foot duplex; One unit occupied; second unit recently refreshed and move‑in ready; Recent improvements include updated electrical and plumbing, new ranges, and MasterCool air conditioners
