Two-Unit Ranch
For Sale
$550,000
499 1/2 Forelle Street, Clifton, CO 81520
Residential, Clifton, CO
Property Size2,016 SF
Price / SF$272.82
Days on Market137
Property Features for 499 1/2 Forelle Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RMF-8
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 3, Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 2
Parking features
Open
Patio and Porch features
Patio
Interior features
CeilingFans, Pantry, WindowTreatments
Appliances
Dishwasher, ElectricOven, ElectricRange, Disposal, Microwave, Refrigerator
Lot features
Landscaped
Elementary school
Rocky Mountain
Middle school
MT Garfield (Mesa County)
High school
Palisade
Directions
From 32 Road, turn east onto E Road, then turn right onto Forelle Street. Property is located on the right corner of E Road and Forelle Street.
Subdivision
Clifton
Standard status
Active
APN
2943-141-00-152
Size
2,016 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2010
Utilities
Heating system
Baseboard
Water source
Public
Building Details
Year built
2001
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Building materials
VinylSiding, WoodFrame
Roof type
Composition, Asphalt
Architectural style
Ranch
Listing Agency:
VENTURE GROUP
(970) 892-2200
Listed By:
Cory Carlson · License #100087222
(970) 261-9311
Added: Apr 24
Changed: Sep 7
Last Checked: Sep 7 at 6:06PM
MLS# 20261975
Copyright © 2026 Grand Junction Area Association of Realtors. 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 2,016-square-foot duplex contains two ranch-style residences, each with three bedrooms and two bathrooms. Built in 2001, the property includes open parking, patios, public water, baseboard heating, ceiling fans, pantries, window treatments, and a mix of tile and carpet flooring. Kitchens are equipped with electric ranges, ovens, dishwashers, disposals, microwaves, and refrigerators.
Both units are fully leased under one-year terms. Recent property work includes a roof installed in summer 2026, a new evaporative cooler, and soffit replacement at Unit B. The property is located at 499 1/2 Forelle Street in Clifton, Colorado, within Mesa County.
The duplex offers 2,016 square feet of residential space and a 6.7% cap rate, with established leases in place for both residences.
Both units are fully leased under one-year terms. Recent property work includes a roof installed in summer 2026, a new evaporative cooler, and soffit replacement at Unit B. The property is located at 499 1/2 Forelle Street in Clifton, Colorado, within Mesa County.
The duplex offers 2,016 square feet of residential space and a 6.7% cap rate, with established leases in place for both residences.
Key Highlights
- Two‑unit duplex with 2,016 square feet of residential space
- Each unit includes 3 bedrooms and 2 bathrooms
- Both units are fully leased with one‑year lease terms
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
$20,050
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
3.65%
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%
$401,000
$401.0K
Cap Rate 7%
$286,429
$286.4K
Cap Rate 9%
$222,778
$222.8K
Market Conditions
NOI Build-Up for 2,016 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
$31.0K $15.36/SF
− Vacancy
−$2.3K −$1.15/SF
EGI
$28.6K $14.21/SF
− OpEx
−$8.6K −$4.26/SF
NOI
$20.1K $9.95/SF
Area
Mesa County, CO
Vacancy
7.50%
Lease Rate
$15.36 /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%
$401,000
Cap Rate 7%
$286,429
Cap Rate 9%
$222,778
Alternative Uses
Best Use
Multifamily LT 5
$286.4K
$250.6K – $334.2K
NOI $20,050 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$263.0K
$230.2K – $306.9K
NOI $18,412 @ 7.0% cap · market cap 3.35%
Theoretical Best
Healthcare Medical
$3.83M
$3.35M – $4.46M
NOI $267,805 @ 7.0% cap · market cap 48.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 81520, CO
14,042
Population
5,411
Households
2.6
Avg Household Size
35
Median Age
11%
College-Educated
81%
High-School Grad
20.5 sq mi
ZIP Area
685
Density / Sq Mi
$50,769
Median Household Income
$34,375
Median Earnings
$1,013
Median Rent
$228,000
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?
Duplex - Both residences are leased on one-year terms and include three bedrooms and two bathrooms.
Where is this duplex located?
The property is located at 499 1/2 Forelle Street Clifton, CO.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,016 square feet of residential space; Each unit includes 3 bedrooms and 2 bathrooms; Both units are fully leased with one‑year lease terms
