Updated Duplex with Owned
For Sale
$465,000
Pending
604 Belford Avenue, Grand Junction, CO 81501
Residential, Grand Junction, CO
Property Size1,866 SF
Lot Size0.14 Acres
Days on Market32
Property Features for 604 Belford Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 4
Patio and Porch features
Patio
Interior features
WindowTreatments
Appliances
Dryer, Dishwasher, ElectricOven, ElectricRange, Disposal, Refrigerator, RangeHood
Lot features
Corner Lot, Landscaped
Elementary school
Chipeta
Middle school
West
High school
Grand Junction
Directions
North Avenue to Belford Avenue.
Subdivision
Grand Junction City
Standard status
Pending
APN
2945-142-06-010
Size
1,866 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1897
Utilities
Heating system
Active Solar, Solar (Heating), Baseboard
Water source
Public
Amenities
solar panels
covered back patio
carports
storage sheds
laundry room and washer and dryer
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
WoodSiding, WoodFrame
Roof type
Composition, Asphalt
Architectural style
Ranch
Listing Agency:
COLDWELL BANKER DISTINCTIVE PROPERTIES
(970) 243-0456
Listed By:
Cindy Ficklin · License #FA100005655
(970) 210-1161
Added: Aug 4
Changed: Sep 3
Last Checked: Sep 4 at 7:06AM
MLS# 20263816
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 1,866-square-foot ranch duplex contains two separate residences, each with two bedrooms, 1 1/2 baths, a kitchen, and a spacious great room. Interior improvements include newer finishes and luxury vinyl plank flooring. Both units include refrigerators, electric ranges or ovens, and dishwashers. The property also provides a shared laundry room with washer and dryer, plus a covered private patio, an individual carport, and a storage shed for each residence.
The 0.14-acre property at 604 Belford Avenue in Grand Junction is positioned near Colorado Mesa University, St. Mary's Hospital, Grand Junction High School, shopping, and restaurants. Owned solar panels support the property, with the system paid off. Additional updates include a composition and asphalt roof that is 10 years old, solar panels that are 6 years old, a water heater installed in 2021, appliances less than 5 years old, windows replaced 15 years ago, and exterior paint completed 5 years ago.
The 0.14-acre property at 604 Belford Avenue in Grand Junction is positioned near Colorado Mesa University, St. Mary's Hospital, Grand Junction High School, shopping, and restaurants. Owned solar panels support the property, with the system paid off. Additional updates include a composition and asphalt roof that is 10 years old, solar panels that are 6 years old, a water heater installed in 2021, appliances less than 5 years old, windows replaced 15 years ago, and exterior paint completed 5 years ago.
Key Highlights
- Two‑unit duplex with 1,866 square feet on a 0.14‑acre lot
- Each residence includes 2 bedrooms and 1 1/2 baths
- Owned, paid‑off solar panels installed 6 years ago
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
$18,558
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
3.99%
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%
$371,160
$371.2K
Cap Rate 7%
$265,114
$265.1K
Cap Rate 9%
$206,200
$206.2K
Market Conditions
NOI Build-Up for 1,866 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
$28.7K $15.36/SF
− Vacancy
−$2.1K −$1.15/SF
EGI
$26.5K $14.21/SF
− OpEx
−$8.0K −$4.26/SF
NOI
$18.6K $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%
$371,160
Cap Rate 7%
$265,114
Cap Rate 9%
$206,200
Alternative Uses
Best Use
Multifamily LT 5
$265.1K
$232.0K – $309.3K
NOI $18,558 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$243.5K
$213.0K – $284.0K
NOI $17,042 @ 7.0% cap · market cap 3.66%
Theoretical Best
Healthcare Medical
$3.54M
$3.10M – $4.13M
NOI $247,879 @ 7.0% cap · market cap 53.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,483
Businesses Nearby
Explore this area
Business Placement
Demographics for 81501, CO
23,935
Population
11,524
Households
2.1
Avg Household Size
33
Median Age
27%
College-Educated
90%
High-School Grad
8.7 sq mi
ZIP Area
2,751
Density / Sq Mi
$48,500
Median Household Income
$32,160
Median Earnings
$974
Median Rent
$283,300
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 - Two ranch-style units offer private outdoor space, carports, storage, and in-place laundry.
Where is this duplex located?
The property is located at 604 Belford Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,866 square feet on a 0.14‑acre lot; Each residence includes 2 bedrooms and 1 1/2 baths; Owned, paid‑off solar panels installed 6 years ago
