Refreshed Duplex with Live-Work
New
For Sale
$719,900
1201 Spruce Ave, Longmont, CO 80501
Residential Income, Longmont, CO
Property Size2,425 SF
Lot Size0.17 Acres
Price / SF$296.87
Days on Market2
Property Features for 1201 Spruce Ave
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Multi Fami
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 4, Basement, Bathroom 3, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 6, Bathroom 1
Window features
Window Coverings
Patio and Porch features
Deck
Interior features
Eat-in Kitchen, Washer/Dryer Hookup
Exterior features
Sprinkler System
Fencing
Fenced
Basement
Full, Partially Finished
Appliances
Electric Range, Dishwasher, Refrigerator, Microwave
Subdivision
Coffmans 2nd
Lot features
Corner Lot, Paved, Curbs, Gutters, Sidewalks
Elementary school
Central
Middle school
Westview
High school
Longmont
Elementary school district
ST Vrain Dist RE 1J
Middle school district
ST Vrain Dist RE 1J
High school district
ST Vrain Dist RE 1J
Standard status
Active
APN
R0120464
Size
2,425 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5209
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Amenities
fenced outdoor space
Building Details
Year built
1995
Floors in Building
2
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
RE/MAX Alliance-Longmont · RE/MAX International
(303) 651-3939
Listed By:
Christopher Martinez · License #100040919
(720) 232-8947
Added: Sep 16
Last Checked: Sep 17 at 6:06AM
MLS# 1068817
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 2,425-square-foot duplex-style property on a 0.17-acre lot includes six bedrooms and three full bathrooms. The upper portion provides a two-story, four-bedroom residence with two bathrooms, while the finished walkout lower level adds two bedrooms and one bathroom. A lockable interior staircase connects the spaces, and each area has its own fenced outdoor space.
Recent improvements include interior paint, carpet, appliances, light fixtures, plumbing fixtures, toilets, a newer roof, and a newer hot water heater. The property also features forced-air heat, central air, a deck, public sewer, natural gas availability, and off-street parking for up to 8 vehicles, with capacity for 6 vehicles plus an RV, boat, or trailer. Zoned Multi Fami, the property is located at 1201 Spruce Ave in Longmont, near Downtown Longmont and its restaurants, breweries, coffee shops, shopping, entertainment, and community events.
Recent improvements include interior paint, carpet, appliances, light fixtures, plumbing fixtures, toilets, a newer roof, and a newer hot water heater. The property also features forced-air heat, central air, a deck, public sewer, natural gas availability, and off-street parking for up to 8 vehicles, with capacity for 6 vehicles plus an RV, boat, or trailer. Zoned Multi Fami, the property is located at 1201 Spruce Ave in Longmont, near Downtown Longmont and its restaurants, breweries, coffee shops, shopping, entertainment, and community events.
Key Highlights
- 2,425‑square‑foot property on a 0.17‑acre lot
- Six bedrooms and 3 full bathrooms
- Two‑story, 4‑bedroom, 2‑bath upper residence
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
$30,937
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
4.30%
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%
$618,740
$618.7K
Cap Rate 7%
$441,957
$442.0K
Cap Rate 9%
$343,744
$343.7K
Market Conditions
NOI Build-Up for 2,425 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
$43.7K $18.00/SF
− Vacancy
−$2.4K −$0.99/SF
EGI
$41.2K $17.01/SF
− OpEx
−$10.3K −$4.25/SF
NOI
$30.9K $12.76/SF
Area
Weld County, CO
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$618,740
Cap Rate 7%
$441,957
Cap Rate 9%
$343,744
Alternative Uses
Best Use
Office B
$442.0K
$386.7K – $515.6K
NOI $30,937 @ 7.0% cap · market cap 4.30%
Second Best
Multifamily LT 5
$398.7K
$348.9K – $465.2K
NOI $27,909 @ 7.0% cap · market cap 3.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,183
Businesses Nearby
Explore this area
Business Placement
Demographics for 80501, CO
42,822
Population
19,173
Households
2.2
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
3,399
Density / Sq Mi
$77,705
Median Household Income
$42,599
Median Earnings
$1,586
Median Rent
$461,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two living areas, private fenced outdoor spaces, and flexible live-work functionality support a range of residential configurations.
Where is this duplex located?
The property is located at 1201 Spruce Ave Longmont, CO.
What is the asking price?
The asking price for this property is $719,900.
What are key features of this property?
This property features: 2,425‑square‑foot property on a 0.17‑acre lot; Six bedrooms and 3 full bathrooms; Two‑story, 4‑bedroom, 2‑bath upper residence
