1 year on rocket

335 Espanola St NE, Albuquerque, NM, 87108

$930,000

Home List Price

$10,000*

Closing Credit

1 Bath
7,500 SqFt
$124/SqFt
Multi

Location

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335 Espanola St NE, Albuquerque$930,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1946
HeatingCentral, Forced Air, Floor Furnace, Wall Furnace
CoolingEvaporative Cooling
MLS #1044432
Lot Size0.46 Acres
StatusActive

About 335 Espanola St NE

Do not miss out on this rare value add opportunity to buy a renovated property with rents 29% below market and a below market interest rate loan with appraisal at $930,000 as-is today, and renovated, raised rents appraisal of $1,070,000). Rents have increased 6% this year and are scheduled to increase from $783 to $906 by November 1st, 2024.Measures of investment performance with an average rent of $783 and an ask price of $930,000 include $77,500 per unit , $122.47/sf, 6.91% cap rate, and an after tax IRR of 10.8%.This 12 unit community is located in an area of that has had major announcements of new employment. Couple that with the impact of the citywide expansion of Netflix, Facebook, Intel and Amazon and this property is well positioned to enjoy the forthcoming wave of appre

Property Details

Property Features

Property Information:

  • Year Built: 1946
  • Living Area: 7,500 SqFt

Listing Office:

  • Office Name: NM Apartment Advisors, Inc.
  • Office Phone: (505) 440-8633
  • Listing Agent: Todd D Clarke

Interior Features

Interior Information:

  • Appliances: Refrigerator
  • Basement: No
  • Flooring Type: Carpet, Wood

Lot Features

Lot Information:

  • Lot Size: 0.46 Acres

Utilities

Utilities Information:

  • Heating: Central, Forced Air, Floor Furnace, Wall Furnace
  • Cooling: Evaporative Cooling

Other

Directions Information:

  • Directions: From I-40 and Louisiana south to Copper east to Espanola, south to property.

Price Information

Listing Price Info

Price Summary:

  • List Price: $930,000
  • Price Per SqFt: $124/SqFt

Tax Information:

  • Annual Amount: $4,615
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Albuquerque, NM.

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Albuquerque, NM

City

Med. Sold Price

$344.7K

Med. Price/SqFt

$205

Avg. Days On Market

34

# of Sold Homes

438

335 Espanola St NE vs Albuquerque

405 DAYS ON ROCKET

+371 Days

$930,000

+$585.2K More

$124/SqFt

-$81 Less

KEY TAKEAWAY

This property is $585.2K more than the Median Sold Price and $81/SqFt less than other homes in Albuquerque, NM.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: SWMLS
  • MLS Number: #1044432

Listing Office:

  • Office Name: NM Apartment Advisors, Inc.
  • Office Phone: (505) 440-8633
  • Listing Agent: Todd D Clarke

IDXThe data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. 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. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed.

Copyright © 2024 Southwest Multiple Listing Service. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/19/2024, 2:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Dec 14, 2009Home Sold
$450,000

Tax History

YEARPROP. TAXASSESSMENT
2020$4,615$107,590
2019$4,583$107,590
2018$4,575$107,590
2017$4,575$107,590

History based on county public records data.

Payment Calculator

$4,709

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,855

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-148700
3
/10

  • La Mesa Elementary School

  • 7500 Copper Ave NE

  • 0.09 miles

  • Public District Grades PK-5

school-card-donut-148701
2
/10

  • Emerson Elementary School

  • 620 Georgia St SE

  • 0.87 miles

  • Public District Grades PK-5

school-card-donut-148702
4
/10

  • Mark Twain Elementary School

  • 6316 Constitution Ave NE

  • 1.14 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $23,868. Most Albuquerque, NM residents have annual incomes less than $35k. The majority of families are single, no kids. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›New Mexico›Bernalillo County›Albuquerque›87108›335 Espanola St NE

This home is located at 335 Espanola St NE in Albuquerque, NM and zip code 87108 in the La Mesa neighborhood. This 7,500 square foot home, which was built in 1946, sits on a 0.46 acre lot. Features: 1 bathroom. It has been listed on Rocket Homes since November 09, 2023 and is currently priced at $930,000.

In November 2024 more than 86 listings in Albuquerque, NM were sold above the asking price. During the same period more than 127 listings were sold at asking price, while more than 225 were sold below. The inventory of homes for sale in Albuquerque, NM between October 2024 and November 2024 decreased by 14.7%. In November 2024 median list price was $344,759 and the average listing age was 34 days.

From Rocket Homes Real Estate and based on county public records data.

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