Neighborhood: Shirleys Subdivision Baron Burg Heights
State: New Mexico
Tax Amount: $1,574
recently renovated duplex which is located near the new Max-Q mixed-use development.The two, one bedroom, one bathroom units really pop with color, natural light and new appliances.Measures of investment performance at ask price of $224,900 and current average rent of $898 are a GRM of 10.44, a 6.30% cap rate, $112,450 per unit, $183.59/sf. If rents are raised to the market of $975, the measures of investment performance improve to a cap rate of 7.24%.Employment in this area is on a uphill trajectory due to the recent expansion of Netflix, Intel, Amazon and Northrop Grumman which has just completed construction of a new office building a few blocks awayMove quickly to take advantage of the 2018 tax cut and jobs act as it benefits investment properties like this.
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