619 Madison Street NEAlbuquerque, NM 87110

  • $299,000
  • 2
  • 2,225 sqft
  • Residential
  • Active

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


Key Features

Added to site

a few seconds ago

MLS number

979351

Year built

2005

Living area

2,225

Lot size

0.16 Acres

Price per SF

$134

Stories

1

County

Bernalillo

Schools

JEFFERSON MIDDLE SCHOOL
ZIA ELEMENTARY SCHOOL
ALBUQUERQUE HIGH SCHOOL

More details for 619 Madison Street NE

AppliancesRefrigerator
Bedrooms2
CoolingEvaporativeCooling
Exterior FeaturesPrivacyWall
HeatingCentral, ForcedAir
Lot Size6969.6
Lot Size (Acres)0.16
Property TypeResidential
Property Sub-typeSingle Family Residence, Duplex
Stories1
UtilitiesElectricityConnected, NaturalGasConnected, PhoneConnected, SewerConnected, WaterConnected
Year Built2005
ZoningR-ML*

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