Tudor Quadplex with Four
New
For Sale
$1,000,000
202 Peterson St, Fort Collins, CO 80524
Residential Income, Fort Collins, CO
Property Size2,326 SF
Lot Size0.22 Acres
Price / SF$429.92
Days on Market4
Property Features for 202 Peterson St
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
NCM/OT-B
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 4
Window features
Window Coverings
Patio and Porch features
Patio
Interior features
Outside Entry
Exterior features
Sprinkler System
Appliances
Electric Range, Refrigerator, Disposal, Fire Alarm
Subdivision
Ftc
Lot features
Corner Lot, Evergreen Trees, Level, Historic District, City Limits
Elementary school
Laurel
Middle school
Lesher
High school
Ft Collins
Elementary school district
Poudre
Middle school district
Poudre
High school district
Poudre
Directions
From S. College Ave and Mulberry Street, go east on Mulberry to Peterson. Turn left on Peterson. Home is on the corner of Peterson and E. Oak
Standard status
Active
APN
R0045292
Size
2,326 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6405
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Building Details
Year built
1892
Floors in Building
2
Number of units
4
Roof type
Composition
Architectural style
Tudor
Listing Agency:
eXp Realty LLC
(888) 440-2724
Listed By:
Dave Werner
(970) 581-8377
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 3 at 2:06PM
MLS# 1067643
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1892, this 2,326-square-foot Tudor-style quadplex contains four one-bedroom, one-bath units, each with a kitchen and its own exterior entrance. The apartments have individual layouts and character, while the property includes forced-air heat, a composition roof, a patio, a sprinkler system, fire alarms, and public sewer service. The building occupies a 0.22-acre double lot and is zoned NCM/OT-B.
Located at 202 Peterson St in Fort Collins, the property sits across from the Library and Library Park in Historic Old Town. Old Town amenities are within a few blocks, and Colorado State University is approximately one mile away. The units are fully rented, have varying lease-end dates, and have been professionally managed with regular in-person inspections. Monthly utility payments are made by management and recovered through the following year's rents.
Located at 202 Peterson St in Fort Collins, the property sits across from the Library and Library Park in Historic Old Town. Old Town amenities are within a few blocks, and Colorado State University is approximately one mile away. The units are fully rented, have varying lease-end dates, and have been professionally managed with regular in-person inspections. Monthly utility payments are made by management and recovered through the following year's rents.
Key Highlights
- Four one‑bedroom, one‑bath units with separate exterior entrances
- 2,326 square feet on a 0.22‑acre double lot
- Built in 1892 with Tudor architectural style
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,118
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$622,360
$622.4K
Cap Rate 7%
$444,543
$444.5K
Cap Rate 9%
$345,756
$345.8K
Market Conditions
NOI Build-Up for 2,326 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.9K $20.16/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$44.5K $19.11/SF
− OpEx
−$13.3K −$5.73/SF
NOI
$31.1K $13.38/SF
Area
Fort Collins, CO
Vacancy
5.20%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$622,360
Cap Rate 7%
$444,543
Cap Rate 9%
$345,756
Alternative Uses
Best Use
Multifamily LT 5
$444.5K
$389.0K – $518.6K
NOI $31,118 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$412.5K
$361.0K – $481.3K
NOI $28,876 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$605.7K
$530.0K – $706.6K
NOI $42,398 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 80524, CO
39,030
Population
17,548
Households
2.2
Avg Household Size
37
Median Age
52%
College-Educated
94%
High-School Grad
122.7 sq mi
ZIP Area
318
Density / Sq Mi
$84,440
Median Household Income
$45,046
Median Earnings
$1,623
Median Rent
$527,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four separately entered one-bedroom apartments offer distinct interiors within a professionally managed multifamily property.
Where is this quadplex located?
The property is located at 202 Peterson St Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units with separate exterior entrances; 2,326 square feet on a 0.22‑acre double lot; Built in 1892 with Tudor architectural style
