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    619 Madison Street NE

    Albuquerque, NM 87110
    • $299,000
    • STATUS: Active
    • ON SITE: 9 days
    • MLS #: 979351
    UPDATED: 67 min ago
    $299,000
    • 2
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,225
      SQFT
    • $134
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2005
    County:
    Area:

    School Ratings & Info

    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

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    IDX information © 2020 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Sandi Pressley Team. Data last updated: 2020-10-26T22:04:51.103.
    www.sandisells.com/homes/111104108
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    619 Madison Street NE Albuquerque, NM 87110

    • Price: $299,000
    • Status: Active
    • Updated: 67 min ago
    • MLS #: 979351
    2
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    2,225
    SQFT
    $134
    $/SQFT
    2005
    Built
    Neighborhood:
    New Year Add Brooms Sub
    County:
    Bernalillo
    Area:
    40 - UNM
    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
    Exterior Features

    Construction Materials Frame Exterior Features Privacy Wall Fencing Wall Parking Total 3 Stories Total 1

    Interior Features

    Appliances Refrigerator Basement YN No Bathrooms Total Integer 2 Cooling Evaporative Cooling Electric None Electric On Property YN No Heating CentralForced Air Heating YN Yes

    Property Features

    Additional Parcels YN Yes Builder Name Mcmann Building Area Total 2225 Disclosures Ranm 2100 Disclosure Gross Income 22800 Listing Agreement Exclusive Right To Sell New Construction YN No Operating Expense 9187 Property Condition Resale Property Sub Type Duplex Property Sub Type Additional Duplex Tax Annual Amount 3342 Tenant Pays OtherSee Remarks Utilities Electricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Zoning Description R-Ml*

    Listing courtesy of Nm Apartment Advisors, Inc.. © 2020 Southwest Multiple Listing Service, Inc.


    IDX information © 2020 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Sandi Pressley Team. Data last updated: 2020-10-26T22:04:51.103.
     
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    Alburquerque NM, 87111