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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Residential income homes
450 Picacho Ave, Las Cruces, NM 88005-2185
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US61-0009737
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
1930
Total area
15,238 SF
Lot
1.55 ac (67,518 SF)
Zoning code
GEN-COMMERCL
APN
4-007-134-001-504
UPID
US61-0009737
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$884k
Blend (final)
Blend
$900k
Owner & transaction history
Enchantment Networks 2 LLC · 5 yrs held
Enchantment Networks 2 LLC
since 2021
7 recorded transactions
Zoning & alternative use
GEN-COMMERCL · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Las Cruces submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Las Cruces submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,305,000
Current use
RETAIL STORES
$1,235,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$900k
Range $810k – $990k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$59 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,825
Tax year 2023
Assessed value
$317,681
Assessed 2023
Previous assessed
$317,681
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$67,518
Assessed improvement
$250,163
Land market value
$202,554
Improvement market value
$750,488
Total market value
$953,042
Applied tax rate
2.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
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
1930
Heating
NONE
Buildings
2
Stories
1
Bathrooms
24
Total area
15,238 SF
Lot
1.55 ac (67,518 SF)
Zoning code
GEN-COMMERCL
APN
4-007-134-001-504
UPID
US61-0009737
Jurisdiction
DONA ANA
Zoning & alternative use
GEN-COMMERCL · Las Cruces, NM
Zoning GEN-COMMERCL · permitted uses
GEN-COMMERCL · Las Cruces, NM
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Las Cruces. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1930
Heating
NONE
Stories
1
Buildings
2
Bathrooms
24
Lot
1.55 ac
Current owner
From public records · entity-resolved
Enchantment Networks 2 LLC
Entity
Mailing address
2112 SALIDA DEL SOL CT, LAS CRUCES, NM 88005-4381
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2021
—
Enchantment Networks 2 LLC
Enchanted Networks LLC
Warranty Deed
$2,000,000 · Bank 34
Dec 23, 2019
—
Enchantment Networks LLC
Batlik Family Trust
Warranty Deed
$747,500 · Constructive Lns LLC
Jun 15, 2016
—
Batlik Family Trust
Collins Vance P Trust
Warranty Deed
related
—
Apr 5, 2016
—
Batlik Family Trust
Collins,vance P
Warranty Deed
related
—
Feb 26, 2010
—
Batlik Family Trust
Batlik,jirka & Lenka
Quit Claim Deed
related
—
Apr 2, 2008
—
Vance P Revocable I Collins
Batlik,jirka & Lenka
Warranty Deed
related
—
Aug 16, 2007
—
Jirka Batlik
Perez Properties LLC
Grant Deed
related
—
Jul 17, 2007
—
Perez Properties LLC
Batlik,jirka & Lenka
Grant Deed
related
—
May 8, 2007
$480,000
Jirka Batlik
Perez Properties LLC
Grant Deed
—
Apr 12, 2006
—
Perez Properties LLC
Micheles Apartment LLC
Warranty Deed
$500,000 · First New Mexico Bank Of Silver Cit
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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