619 Madison Ne Street, Albuquerque, NM 87110

$299,000
2
BD
2
BA
2,225
SqFt
List Price
$299,000
MLS#
979351
Status
ACTIVE
Number of Units
2
County
Bernalillo
City
Albuquerque
Subdivision
New Year Add Brooms Sub
Bedrooms
2
Bathrooms
2
Living Area
2,225
Acres
0.16

Property Description

Tucked in a high appreciation, neighborhood of mostly single family homes built in 1940-50's. This property was built in 2005, and includes two houses and a single car garage.A core deal with a stable base of income, there is also a value add opportunity in bringing the rent levels to market, or above market rates. Measurements of investment performance based on actual average rents of $1,000 per unit, 4.55% CAP rate, 17.40% before tax IRR, and 14.060% after tax IRR. Based on a market rent of $1,138 per unit (and potential to charge for the garage) the measure of investment performance improves to a 5.97% Cap (before reserves), and a 8.08% cash on cash.The location has a high walk (76), Bike (85), and transit (37) score and speaks of its excellent location between UNM and

Additional Information

Days on Market
3
Year Built
2005
Stories
1
Cooling
Evaporative Cooling
Heating
Central, Forced Air
Exterior Features
Privacy Wall
Parking Spaces
3

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of NM Apartment Advisors, Inc..

Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.