370 Montana Ave Las Cruces, NM 88005-3249
Entity Owned
25-yr Hold
Absentee Owner
Free & Clear
Estimated value (blended)
$325k
Range $293k – $358k (±10%)
Property ID
US61-0165284
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
1984
Total area
6,000 SF
Lot
1.1 ac (47,916 SF)
Zoning code
HI-RES-OFFIC
APN
4-007-136-476-266
UPID
US61-0165284
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$325k
CAP Approach
CAP
$560k
Comparable Approach
Comparable
$707k
Blend (final)
Blend
$325k
Owner & transaction history
Zoning & alternative use
HI-RES-OFFIC · Las Cruces, NM
Top alternative use upside
Auto repair, garage
$710,000
+37.8%
Commercial (general)
$675,000
+30.9%
Office building
$650,000
+26.2%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
6 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$325k
Value range
$293k – $358k
±10% around blend
Estimated value / SF
$54 / SF
Confidence
Property data
88
Comparable evidence
60
$293k
blend $325k
$358k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
6,000 SF
Lot area
1.1 ac
Year built
1984
Stories
1
APN
4-007-136-476-266
Assessed value
$291,394
Annual tax
$9,012
3
Income approach: direct capitalization
Partial preview
Income approach indication
$560k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$605k
@ 6.5% CAP return
$560k
@ 7% CAP return
$520k
4
Sales comparison
Partial preview
Sales approach indication
$707k
Range $327k – $707k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$325k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+38%
vs current-use indication
Commercial (general)
Office Building
Restaurant
Apartment House (5+ Units) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$291k
Move the market yield to see immediate price impact.
Value / SF
$49
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$18k
$367k
$262k
$204k
$20k
$408k
$291k
$227k
$22k
$449k
$321k
$249k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,012
Tax year 2023
Assessed value
$291,394
Assessed 2023
Previous assessed
$282,907
+3.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$43,923
Assessed improvement
$247,471
Land market value
$131,769
Improvement market value
$742,412
Total market value
$874,181
Applied tax rate
2.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Status
Off-Market
Year built
1984
Heating
NONE
Buildings
2
Stories
1
Bathrooms
26
Total area
6,000 SF
Lot
1.1 ac (47,916 SF)
Zoning code
HI-RES-OFFIC
APN
4-007-136-476-266
UPID
US61-0165284
Jurisdiction
DONA ANA
Zoning & alternative use
HI-RES-OFFIC · Las Cruces, NMZoning HI-RES-OFFIC · permitted uses
HI-RES-OFFIC · Las Cruces, NM
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Heating
NONE
Stories
1
Buildings
2
Bathrooms
26
Lot
1.1 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
HI-RES-OFFIC
Jurisdiction
Las Cruces, NM
Recorded code
HI-RES-OFFIC
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for HI-RES-OFFIC in Las Cruces, NM.
What opens after registration
Zoning profile
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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