Residential Income Property with
For Sale
$265,000
Properties - Mesa Flats Realty, Las Cruces, NM 88011
Well-maintained condominium with an open living area, community pool, and flexible second-bedroom use.
Property Size1,355 SF
Price / SF$195.57
Days on Market37
Property Features for Properties - Mesa Flats Realty
General Information
Standard status
Active
Size
1,355 SF
Property subtype
Residential
Units
Unit Mix
1 x 2BR/1.75BA
Multifamily Units
1
Amenities
community pool
Building Details
Year Built
2006
Listing Agency:
Mesa Flats Realty
Listed By:
Joel Gilbert · License #REC20230006
(575) 639-0093
Source:
Mesaflatsrealty
Added: Sep 12
Changed: Oct 16
Last Checked: Oct 16 at 5:44AM
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 Mesa Flats Realty
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Investment Insights
Based on property information with market context.
This residential income property is a 1,355-square-foot condominium completed in 2006, with two bedrooms and 1.75 baths. The interior combines tile and carpet finishes with a connected living, dining, and kitchen arrangement. A primary bedroom provides dedicated private space, while the second bedroom can accommodate guests, office use, or additional living needs. The home is described as well maintained and suited to everyday occupancy or entertaining.
Residents have access to a community pool, and the property is located near shopping, dining, recreation, and everyday amenities at 4049 Canterra Arc in Las Cruces, New Mexico. The source information identifies the property as appropriate for homeowners, retirees, or investors.
Residents have access to a community pool, and the property is located near shopping, dining, recreation, and everyday amenities at 4049 Canterra Arc in Las Cruces, New Mexico. The source information identifies the property as appropriate for homeowners, retirees, or investors.
Key Highlights
- 1,355‑square‑foot condominium with two bedrooms and 1.75 baths
- Built in 2006
- Open connection between living, dining, and kitchen areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,224
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,480
$164.5K
Cap Rate 7%
$117,486
$117.5K
Cap Rate 9%
$91,378
$91.4K
Market Conditions
NOI Build-Up for 1,355 SF
Gross rent
$15.8K $11.64/SF
− Vacancy
−$820 −$0.61/SF
EGI
$15.0K $11.03/SF
− OpEx
−$6.7K −$4.97/SF
NOI
$8.2K $6.07/SF
Area
Las Cruces, NM
Vacancy
5.20%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,480
Cap Rate 7%
$117,486
Cap Rate 9%
$91,378
Alternative Uses
Best Use
Apartment 5plus
$117.5K
$102.8K – $137.1K
NOI $8,224 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$237.1K
$207.5K – $276.6K
NOI $16,598 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
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Business Placement
Demographics for 88011, NM
32,885
Population
15,160
Households
2.2
Avg Household Size
43
Median Age
55%
College-Educated
95%
High-School Grad
251.7 sq mi
ZIP Area
131
Density / Sq Mi
$75,139
Median Household Income
$43,093
Median Earnings
$1,053
Median Rent
$315,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Well-maintained condominium with an open living area, community pool, and flexible second-bedroom use.
Where is this residential income property located?
The property is located at Properties - Mesa Flats Realty Las Cruces, NM.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1,355‑square‑foot condominium with two bedrooms and 1.75 baths; Built in 2006; Open connection between living, dining, and kitchen areas
