Updated Over-Under
For Sale
$434,900
Pending
1005 22nd Ave, Greeley, CO 80631
Two separate residences provide private entry, individual laundry, and flexible living arrangements across upper and lower levels.
Property Size2,148 SF
Days on Market162
Property Features for 1005 22nd Ave
General Information
Standard status
Pending
Size
2,148 SF
Property subtype
Investment
Additional Details
Sprinkler System
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,062
Building Details
Building Size
2,148 SF
Year Built
1955
Buildings
1
Units
2
Listing Agency:
BBP Realty LLC
Listed By:
John Palke · License #100082133
(970) 308-6662
Source:
Elliman
Added: May 9
Changed: Oct 6
Last Checked: Oct 16 at 10:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BBP Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This over-under duplex presents two distinct residences with practical separation between the upper and lower levels. The upper home contains three bedrooms, while the lower residence offers two bedrooms. Each unit has its own entrance and laundry area, supporting privacy and independent daily use. Improvements include newer interior and exterior paint, a roof, landscaping, a sprinkler system, multiple windows, and appliances.
Built in 1955, the property retains mid-century details such as hardwood floors, arched doorways, large windows, and French doors. The home faces Luther Park and is positioned near the University of Northern Colorado, the Medical Center, and downtown Greeley. The property is located at 1005 22nd Ave, Greeley, CO 80631. Showings require 24-hour notice.
Built in 1955, the property retains mid-century details such as hardwood floors, arched doorways, large windows, and French doors. The home faces Luther Park and is positioned near the University of Northern Colorado, the Medical Center, and downtown Greeley. The property is located at 1005 22nd Ave, Greeley, CO 80631. Showings require 24-hour notice.
Key Highlights
- Over‑under duplex with a three‑bedroom upper unit and two‑bedroom lower unit
- Private entrances and separate laundry for both residences
- Recent improvements include roof, paint, windows, appliances, landscaping, and sprinkler system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,721
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,420
$494.4K
Cap Rate 7%
$353,157
$353.2K
Cap Rate 9%
$274,678
$274.7K
Market Conditions
NOI Build-Up for 2,148 SF
Gross rent
$37.4K $17.40/SF
− Vacancy
−$2.1K −$0.96/SF
EGI
$35.3K $16.44/SF
− OpEx
−$10.6K −$4.93/SF
NOI
$24.7K $11.51/SF
Area
Greeley, CO
Vacancy
5.51%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,420
Cap Rate 7%
$353,157
Cap Rate 9%
$274,678
Alternative Uses
Best Use
Multifamily LT 5
$353.2K
$309.0K – $412.0K
NOI $24,721 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$324.3K
$283.8K – $378.4K
NOI $22,703 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office B
$391.5K
$342.5K – $456.7K
NOI $27,403 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 80631, CO
52,336
Population
18,871
Households
2.8
Avg Household Size
29
Median Age
18%
College-Educated
73%
High-School Grad
103.6 sq mi
ZIP Area
505
Density / Sq Mi
$52,470
Median Household Income
$33,062
Median Earnings
$1,209
Median Rent
$300,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences provide private entry, individual laundry, and flexible living arrangements across upper and lower levels.
Where is this duplex located?
The property is located at 1005 22nd Ave Greeley, CO.
What is the asking price?
The asking price for this property is $434,900.
What are key features of this property?
This property features: Over‑under duplex with a three‑bedroom upper unit and two‑bedroom lower unit; Private entrances and separate laundry for both residences; Recent improvements include roof, paint, windows, appliances, landscaping, and sprinkler system
