Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Two Homes on One Lot Title is generated by Realmo AI

    115 Gumaer Avenue, Florence, CO 81226

    View on Map
    Claim this Listing
    For Sale
    $309,950

    MULTI_FAMILY - Florence, CO

    Lot size:
    0.20 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    52
    Last Refresh:
    May 15 at 1:06 am

    Property Features for 115 Gumaer Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3
    Standard status
    Active
    APN
    61006650
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SUBD: ELMWOOD SUB ELY 65 FT M/L LOT 5 BLK 2 ELMWOOD SUB
    Tax Annual Amount
    1301

    Utilities

    Utilities
    Cable Available
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Evaporative Cooling
    Water source
    Public

    Building Details

    Year built
    1965
    Number of units
    2

    We can help!

    Listing Contact
    Kimberly M. Martin
    Kimberly M. Martin

    Listing agent Kimberly M. Martin

    Listing office Proficient Property Management Serv 615 Main Street, Canon City, CO

    Listing date Mar 25, 2026

    MLS# 6460107 Listing URL

    Copyright © 2026 Royal Gorge 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.

    HighLights

    • Two homes on one lot: 3‑bedroom, 1‑bath primary home and a 1‑bedroom, 1‑bath ADU.
    • Potential for significant rental income from both properties.
    • Both homes are currently occupied by long‑term tenants with a history of on‑time rent payments.
    • Prime location near downtown shopping and restaurants.
    • Primary home has forced air and natural gas heating.
    • Cooling is provided by evaporative cooling.

    Overview

    This property features two homes on a single lot: a primary home with 3 bedrooms and 1 bath, and an accessory dwelling unit (ADU) with 1 bedroom and 1 bath. Both units are currently occupied by long-term renters. The property is located near downtown shopping and restaurants in Florence, CO. The lot size is 0.2029 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Joseph's Barber Shop Barber Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Fremont
    State
    Colorado
    Longitude
    -105.101733
    Latitude
    38.388074

    Nearby Similar for Sale

    • $480,000
      2,850 SF

      Historic Mixed-Use Building with Loft

      Main Street investment opportunity with business spaces and luxury loft.
      119 Main Street, Florence, CO 81226
      View Details
    • $435,000

      Unique Multifamily Property on Acreage

      Updated main house, duplex, and loft apartment on one acre.
      10830 Highway 115, Florence, CO 81226
      View Details
    • $360,000
      1,704 SF

      Renovated Duplex with Garage

      Florence duplex renovated in 2022 with detached garage.
      303 W 7th Street, Florence, CO 81226
      View Details
    • $345,000

      Historic Building in Florence's Golden Block

      Refurbished commercial building in Florence's thriving downtown district.
      111 W Main Street, Florence, CO 81226
      View Details
    • $480,000

      Historic Downtown Florence Mixed-Use Building

      Mixed-use building with business spaces and luxury loft in Florence.
      119 W Main Street, Florence, CO 81226
      View Details
    • $360,000
      1,705 SF

      Renovated Duplex in Florence, Colorado

      Two-unit duplex renovated in 2022 with detached garage.
      303 W 7th St, Florence, CO 81226
      View Details
    • $550,000
      15,519 SF

      Mixed-Use Property on Main Street

      Mixed-use property with restaurant, retail, and apartment potential.
      102-106 Main Street, Florence, CO 81226
      View Details
    • $550,000

      Main Street Mixed-Use Opportunity

      Mixed-use property with restaurant, retail, and apartment potential.
      102-106 E Main Street, Florence, CO 81226
      View Details
    • $525,000
      5,000 SF

      Florence Multifamily Investment Opportunity

      Well-maintained 5-unit apartment building in downtown Florence, Colorado.
      112 S Santa Fe Ave, Florence, CO 81226
      View Details
    • $990,000

      Historic Gem in Downtown Florence

      Two homes on 1.49 acres in historic downtown Florence.
      225-229 E Main Street, Florence, CO 81226
      View Details
    • $345,000

      Historic Building in Florence's Golden Block

      Historic commercial building in Florence's thriving downtown district.
      111 W Main St, Florence, CO 81226
      View Details
    • $525,000

      Florence Multifamily Investment Opportunity

      Well-maintained 5-unit apartment building in downtown Florence, Colorado.
      112 S Santa Fe Avenue, Florence, CO 81226
      View Details

    FAQs

    What type of property is this?
    Duplex - Two homes on a single lot near downtown Florence.
    Where is this duplex located?
    The property is located at 115 Gumaer Avenue Florence, CO.
    What is the asking price?
    The asking price for this property is $309,950.
    What are key features of this property?
    This property features: Two homes on one lot: **3‑bedroom, 1‑bath primary home and a 1‑bedroom, 1‑bath ADU.**; Potential for significant rental income from both properties.; Both homes are currently occupied by long‑term tenants with a history of on‑time rent payments.
    (719) 276-1183
    We can help!
    Listing Contact
    Kimberly M. Martin
    Kimberly M. Martin
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    115 Gumaer Avenue, Florence, CO 81226
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!