Contemporary Residential Income
For Sale
$480,000
651 Hillspire Dr, Windsor, CO 80550
CONDOS - Contemporary - Windsor, CO
Property Size2,864 SF
Lot Size0.11 Acres
Price / SF$167.60
Days on Market116
Property Features for 651 Hillspire Dr
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R2
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Dining Room, Bathroom 2, Basement, Bedroom 2, Bedroom 1, Bathroom 1, Laundry Room, Laundry Room
Patio and Porch features
Patio
Pets allowed
Dogs OK, Cats OK
Interior features
Eat-in Kitchen, Cathedral Ceiling(s), Open Floorplan, Pantry, Walk-In Closet(s), Washer/Dryer Hookup, Kitchen Island
Exterior features
Sprinkler System
Basement
Unfinished, Full
Appliances
Gas Range, Dishwasher, Refrigerator, Washer, Dryer, Microwave
Subdivision
Greenspire Sub Final
Lot features
City Limits, Paved, Gutters, Sidewalks
View
City
Elementary school
Grandview
Middle school
Windsor
High school
Windsor
Elementary school district
Weld RE-4
Middle school district
Weld RE-4
High school district
Weld RE-4
Standard status
Active
APN
R3709005
Size
2,864 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4198
HOA Fee
$84 Annually
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Amenities
fenced backyard
attached garage
Building Details
Year built
2022
Floors in Building
1
Building materials
Frame
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
C3 Real Estate Solutions, LLC
(970) 225-5152
Listed By:
Erin Brady
(970) 978-8698
Added: Apr 17
Changed: Aug 6
Last Checked: Aug 10 at 3:06AM
MLS# 1056811
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 contemporary residential income property was built in 2022 and offers 2,864 square feet of living area. The layout includes two main-level bedrooms, an open floor plan, cathedral ceilings, an eat-in kitchen with island and pantry, and a dedicated laundry area with washer and dryer hookups. Central air and forced-air heating support year-round comfort, while the attached 2-car garage provides parking and storage. A private fenced backyard, patio, and sprinkler system add usable exterior space. The property also includes a composition roof, frame construction, public sewer, and cable availability. Kitchen appliances include a gas range, dishwasher, refrigerator, washer, dryer, and microwave.
Key Highlights
- 2,864‑square‑foot residential income property built in 2022
- Two bedrooms located on the main level
- Attached 2‑car garage for parking and storage
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
$30,270
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
6.31%
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%
$605,400
$605.4K
Cap Rate 7%
$432,429
$432.4K
Cap Rate 9%
$336,333
$336.3K
Market Conditions
NOI Build-Up for 2,864 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
$58.4K $20.40/SF
− Vacancy
−$3.4K −$1.18/SF
EGI
$55.0K $19.22/SF
− OpEx
−$24.8K −$8.65/SF
NOI
$30.3K $10.57/SF
Area
Weld County, CO
Vacancy
5.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$605,400
Cap Rate 7%
$432,429
Cap Rate 9%
$336,333
Alternative Uses
Best Use
Apartment 5plus
$432.4K
$378.4K – $504.5K
NOI $30,270 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$522.0K
$456.7K – $609.0K
NOI $36,537 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Explore this area
Business Placement
Demographics for 80550, CO
38,909
Population
17,140
Households
2.3
Avg Household Size
36
Median Age
51%
College-Educated
98%
High-School Grad
52.4 sq mi
ZIP Area
743
Density / Sq Mi
$121,487
Median Household Income
$60,940
Median Earnings
$1,791
Median Rent
$538,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary residence with two main-level bedrooms, a fenced backyard, and an attached garage.
Where is this residential income property located?
The property is located at 651 Hillspire Dr Windsor, CO.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,864‑square‑foot residential income property built in 2022; Two bedrooms located on the main level; Attached 2‑car garage for parking and storage
