$245,000
PENDING

1303 Iron Ave SW Albuquerque, NM 87102

Barelas Neighborhood

Estimated payment $1,556/month

Total Views 8,900
1 Bed
1 Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Evaporated cooling system
  • Vinyl Flooring
  • Property has 1 Level
  • Albuquerque High School Rated A-
  • Wall Furnace
  • 5-minute walk to Triangle Dog Park

About This Home

Property being sold using BID process.The property features two one bedroom/one bathroom units. The extra lot lots contain 0.1618 acres with alley access and space for additional building(s).Based on the current average rents of $900 per month, and an ask price of $245,000 the property's measures of investment performance include a 11.34 GRM, 6.07% cap rate before reserves, before tax IRR of 15.50% and an after-tax IRR of 12.30%. If rents were raised to market average of $933, the measures of investment performance improve to a 8.82% cap rate, and a 14.01% cash on cash.Timeline of events:1. Qualified Investors can register for the tour scheduled at noon on Tuesday, June 6th3. The offer deadline is noon on Thursday, June 8th.

Listing Agent

Todd Clarke

NM Apartment Advisors, Inc. License #13711 Listed on: 05/10/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,388

Year Built

  • Built in 1920

Lot Details

  • 6,970 Sq Ft Lot
  • Additional Parcels

Home Design

  • Duplex
  • Frame Construction

Interior Spaces

  • Property has 1 Level
  • Vinyl Flooring

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Utilities

  • Evaporated cooling system
  • Wall Furnace
  • Natural Gas Connected

Listing and Financial Details

  • Assessor Parcel Number 101305734131510703

Community Details

Overview

  • 2 Units
  • Lots 13 & 14, Block 44, Raynolds Addition Subdivision

Building Details

  • Operating Expense $14,376
  • Gross Income $21,660

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,388

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Duplex
  • Directions: From I-25 and Coal - west to 13th, south to Iron and west to property
  • Listing Contract Date: 2023-05-10
  • Year Built: 1920
  • Lot Size Acres: 0.16
  • Subdivision Name: Lots 13 & 14, Block 44, Raynolds Addition
  • Unit Levels: One
  • New Construction: No
  • Year Built Details: 100+
  • Property Sub Type Additional: Duplex
  • Special Features: None

Interior Features

  • Flooring: Vinyl
  • Appliances: Refrigerator
  • Stories: 1
  • Number Of Buildings: 1
  • Accessibility Features: None
  • Basement YN: No
  • Total Bedrooms: 1
  • Stories: 1

Exterior Features

  • Disclosures: Lead Based Paint Disclosure, RANM 2100 Disclosure
  • Builder Name: Unknown
  • Construction Type: Frame
  • Property Condition: Resale

Utilities

  • Cooling: Evaporative Cooling
  • Electric: None
  • Heating: Wall Furnace
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Cooling Y N: Yes
  • Heating Yn: Yes

Lot Info

  • Lot Size Sq Ft: 6969.6
  • Additional Parcels: Yes
  • Parcel #: 101305734131510703
  • Zoning Description: R-ML*

Rental Info

  • Tenant Pays: Other, See Remarks

Multi Family

  • Number Of Units Total: 2
  • Annual Gross Income: 21660.0
  • Annual Operating Expense: 14376.0

Tax Info

  • Tax Annual Amount: 2387.9

Map

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $2,568 $53,218 $18,626 $34,592
2023 $2,522 $51,669 $18,084 $33,585
2022 $2,388 $50,164 $17,557 $32,607
2021 $2,309 $48,703 $17,046 $31,657
2020 $2,268 $47,284 $16,549 $30,735
2019 $2,201 $45,907 $16,067 $29,840
2018 $2,125 $45,907 $16,067 $29,840
2017 $2,049 $44,570 $15,599 $28,971
2016 $1,981 $42,013 $14,704 $27,309
2015 $40,789 $40,789 $14,276 $26,513
2014 $1,847 $39,602 $13,861 $25,741
2013 -- $38,449 $13,457 $24,992
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/11/2023 06/11/23 Pending -- -- --
05/10/2023 05/10/23 For Sale $245,000 -- --
Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)

Purchase History

Date Type Sale Price Title Company
Warranty Deed -- Fidelity National Title Co
Warranty Deed -- Fidelity Natl Title Ins Co
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $102,350 New Conventional
Closed $100,800 Purchase Money Mortgage
Source: Public Records

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See All Homes in Albuquerque

Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)

MLS Number: 1034136

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-013-057-341315-1-07-03

New Mexico Bernalillo County Albuquerque 87102 Barelas

1303 Iron Ave SW, Albuquerque, NM

This home is located at 1303 Iron Ave SW, Albuquerque, NM 87102 and is currently priced at $245,000. This property was built in 1920. 1303 Iron Ave SW is a home located in Bernalillo County with nearby schools including Washington Middle School, Albuquerque High School, and Siembra Leadership High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Southwest MLS (Greater Albuquerque Association of REALTORS®) IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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Todd Clarke
Listing Agent
Todd Clarke
Section Image
NM Apartment Advisors, Inc.
(505) 391-3816