Mid-Town Duplex with Attached
449 E Drake Rd Fort Collins, CO 80525
For Sale
$585,000
MULTI_FAMILY - Fort Collins, CO
Property Size1,616 SF
Lot Size0.17 Acres
Price / SF$362
Days on Market112
Property Features for 449 E Drake Rd
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
MMN
Bedrooms
4
Bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 3
Patio and Porch features
Patio
Interior features
Eat-in Kitchen, Open Floorplan
Fencing
Fenced
Appliances
Electric Range, Dishwasher, Refrigerator
Standard status
Active
APN
R0126748
Size
1,616 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3522
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1967
Floors in Building
1
Number of units
2
Building materials
Frame, Brick
Roof type
Composition
Listing Agency:
Harmony Brokers
(970) 282-9488
Listed By:
Jeff Theisen
(970) 430-9067
Added: Apr 9
Changed: Jul 28
Last Checked: Jul 29 at 6:06PM
MLS# 1056347
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.
This mid-town duplex offers two separate units, each featuring two bedrooms, one bathroom, a one-car attached garage, and its own patio. The property is being offered “as-is,” ready for buyers to evaluate and finalize based on their needs.
The duplex is located at 449 E Drake Rd in Fort Collins, Colorado, in Larimer County. The listing is identified with zoning MMN.
With two units configured similarly, the property provides a straightforward duplex layout, and the public remarks note that there is no HOA. Lot size is listed at 0.17 acres, and the overall property size is 1,616 square feet.
The duplex is located at 449 E Drake Rd in Fort Collins, Colorado, in Larimer County. The listing is identified with zoning MMN.
With two units configured similarly, the property provides a straightforward duplex layout, and the public remarks note that there is no HOA. Lot size is listed at 0.17 acres, and the overall property size is 1,616 square feet.
Key Highlights
- Midtown duplex built in 1967 with an open floorplan and eat‑in kitchen
- Each unit offers 2 bedrooms, 1 bath, and a 1‑car attached garage
- Separate patios for each unit, plus fenced property
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.6k | $20.16 |
| − Vacancy | −$1.7k | −$1.05 |
| EGI | $30.9k | $19.11 |
| − OpEx | −$9.3k | −$5.73 |
| NOI | $21.6k | $13.38 |
1,616 SF · lease $20.16/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$308.8K
$270.2K – $360.3K
NOI $21,619 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$286.6K
$250.8K – $334.4K
NOI $20,062 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$420.8K
$368.2K – $490.9K
NOI $29,456 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex for sale with two bedrooms, one bath, attached one-car garages, and separate patios for each unit.
Where is this duplex located?
The property is located at 449 E Drake Rd Fort Collins, CO.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Midtown duplex built in 1967 with an open floorplan and eat‑in kitchen; Each unit offers 2 bedrooms, 1 bath, and a 1‑car attached garage; Separate patios for each unit, plus fenced property
