1012 State Street, Fort Morgan, CO 80701
Two units with existing 12-month leases through June 2026 and updated heating and cooling systems.
- Added:
- Oct 20, 2025
- Days on Market:
- 250
- Last Refresh:
- Jun 24 at 5:23 am
Property Features for 1012 State Street
General Information
- Standard status
- Active
- Size
- 2,536 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1908
Listing office Mile High Real Estate LLC (303) 653-6145
Listing date Oct 20, 2025
Source Exitrealty
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 Mile High Real Estate LLC
HighLights
- 2‑unit property built in 1908 with existing 12‑month leases through at least June 2026
- New 12‑month lease just signed for the basement unit; main‑level lease is active through June 2026
- Brand new furnace for both the main and basement units
- Upstairs unit includes a brand new mini split heating and A/C unit
- Shared laundry room
- Owner/Agent sale; property sold as‑is
Overview
The property is located at 1012 State Street in Fort Morgan, Colorado. The sale is being offered by the Owner/Agent, and the property is sold as-is.
For investors or owner-operators looking for a residential income property with established tenancy, this duplex provides immediate occupancy with current lease terms extending through at least June 2026. The current property manager/owner can also continue managing the property if the buyer would like that support. With updated heating and cooling components and shared laundry on site, the layout offers a straightforward setup for day-to-day unit management.
Local 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 | $39.0k | $15.36 |
| − Vacancy | −$2.6k | −$1.02 |
| EGI | $36.4k | $14.34 |
| − OpEx | −$10.9k | −$4.30 |
| NOI | $25.5k | $10.04 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Fort Morgan
- County
- Morgan
- State
- Colorado
- Longitude
- -103.7997764
- Latitude
- 40.2601384
