130 Rhode Island Street SE, Albuquerque NM, 87108
(Active)
$373,105
|
2 beds, 1 baths, 3,000 sqft
|
MLS# 1058183
Last Updated: 5/11/2024 7:05 AM
Description for
130 Rhode Island Street SE
Albuquerque, NM 87108
130 Rhode Island SE with average rents now at $830, a 18% increase over June 2022 when they averaged $681 and at the ask price of $373,105 the measures of investment performance include a GRM of 9.37, a before reserves cap rate of 6.28% and an after tax IRR of 12.70%. If rents are raised to the market of $1,247 (which an identical property on this street is achieving), the measures of investment performance improve to a cap rate of 11.11%, and cash on cash of 22.86%In addition to raising rents to the market untapped upside exists in renovating and generating income from the unused laundry rooms.Extensive renovations list can be found on page 6 of the flyer(s) and full inspection reports, leases and additional information for 130 Rhode Island SE are available to qualified investor
Price
$373,105
Unity Addition
Bernalillo
2
1
3,000 (approx)
1058183
Active
Description
130 Rhode Island SE with average rents now at $830, a 18% increase over June 2022 when they averaged $681 and at the ask price of $373,105 the measures of investment performance include a GRM of 9.37, a before reserves cap rate of 6.28% and an after tax IRR of 12.70%. If rents are raised to the market of $1,247 (which an identical property on this street is achieving), the measures of investment performance improve to a cap rate of 11.11%, and cash on cash of 22.86%In addition to raising rents to the market untapped upside exists in renovating and generating income from the unused laundry rooms.Extensive renovations list can be found on page 6 of the flyer(s) and full inspection reports, leases and additional information for 130 Rhode Island SE are available to qualified investor
Listing Information
| Property Type: Fourplex, Multi-Family, 2 Story | ||
| 2 | 1 | |
| 0.16 Acres | 3,000 (approx) | 1980 |
| 2 | Frame | |
Unity Addition
Natural Gas Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Neighborhood
Room Information
Interior Features
Refrigerator
Vinyl
Evaporative
Other,
Forced Air, Central
Exterior / Lot Features
Frame
MX-L*
Driving Directions
From I-40 and Wyoming, south to Central, west to Rhode Island, south to property. Please note adjoining property is also for sale (126 & 130)
Financial Considerations
| 101905731802940206 |
| $2,019 |
Cash, Conventional, FHA, VA Loan
Listing Price History
Albuquerque Real Estate
Albuquerque is located in New Mexico. Albuquerque, New Mexico 87108 has a population of 572,777.
The median household income in Albuquerque, New Mexico 87108 is $32,346. The median household income for the surrounding county is $56,090 compared to the national median of $66,222. The median age of people living in Albuquerque 87108 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
| Street Address | City | Beds | Baths | Sold Price | Sold Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| No information is available for recently sold properties within this search. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 3/4/2024 | Active | $373,105 USD |
|
Tax History (Sourced from Public Records)
| year | Property Taxes | Change | Tax Assessment | Change |
|---|---|---|---|---|
| 2023 | $2,089 USD | 3.47% | $48,896 USD | 3.00% |
| 2022 | $2,019 USD | 3.48% | $47,472 USD | 3.00% |
| 2021 | $1,951 USD | 1.67% | $46,090 USD | 3.00% |
| 2020 | $1,919 USD | 3.01% | $44,748 USD | - |
| 2019 | $1,863 USD | 0.70% | $44,748 USD | 3.00% |