Remodeled Condo Near CSU
For Sale
$240,000
1209 W Plum Street #7 Fort, Fort Collins, CO 80521
Updated condo with modern amenities, close to CSU and local shops.
Property Size734 SF
Price / SF$326.98
Days on Market371
Property Features for 1209 W Plum Street #7 Fort
General Information
Standard status
Active
Size
734 SF
Property subtype
Condominium
Amenities
Fireplace
Cable Ready
Air Conditioning-Room
Baseboard
Ceiling Fan(s)
Dishwasher
Disposal
Dryer
Oven
Refrigerator
Washer
Patio, Internet Access (Wired), Electricity Available, Cable Available, Composition
Building Details
Building Size
734 SF
Year Built
1980
Listing Agency:
Ambassador Colorado
(970) 400-7077
Listed By:
Darin Slocum · License #0677849
(970) 400-7077
Source:
Kw
Added: Aug 9, 2025
Changed: Aug 8
Last Checked: Aug 13 at 4:49PM
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 Ambassador Colorado
Investment Insights
Based on property information with market context.
This completely remodeled condo is located just six buildings from the CSU campus and within blocks of numerous restaurants and shops. The unit features granite countertops in both the kitchen and bathroom, complemented by a subway tile backsplash and under-cabinet lighting in the kitchen. New, extended kitchen cabinets were installed in 2024, and new laminate wood flooring was laid in 2023. A newer stove and Bosch dishwasher, both from 2020, are included. The unit has updated finishes, faucets, and lights throughout. All baseboard heaters have been replaced within the last six years. Ethernet ports are available in the bedrooms, kitchen, living room, and utility closet for wired internet connections. Additional features include a whitewashed brick wood-burning fireplace, smart eco-friendly thermostats, and a private covered porch with a lockable outdoor storage closet. All light fixtures have been replaced in the last six years. An in-wall AC unit and ceiling fans are installed in both bedrooms. The 734 square foot unit includes all appliances, including a stackable washer/dryer, and comes with three parking permits. The homeowner is responsible for electric; all other utilities, including groundskeeping, snow removal, water/sewer, exterior maintenance, and hazard insurance, are covered by the HOA. These units are popular and easy to rent.
Key Highlights
- Prime Location: Just 6 buildings from CSU campus and blocks from restaurants/shops.
- Completely Remodeled: Extensive upgrades including new kitchen cabinets (2024) and laminate wood flooring (2023).
- Updated Kitchen: Granite countertops, subway tile backsplash, under cabinet lighting, and newer appliances.
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
$9,112
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
3.80%
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%
$182,240
$182.2K
Cap Rate 7%
$130,171
$130.2K
Cap Rate 9%
$101,244
$101.2K
Market Conditions
NOI Build-Up for 734 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
$17.4K $23.76/SF
− Vacancy
−$872 −$1.19/SF
EGI
$16.6K $22.57/SF
− OpEx
−$7.5K −$10.16/SF
NOI
$9.1K $12.41/SF
Area
Fort Collins, CO
Vacancy
5.00%
Lease Rate
$23.76 /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%
$182,240
Cap Rate 7%
$130,171
Cap Rate 9%
$101,244
Alternative Uses
Best Use
Apartment 5plus
$130.2K
$113.9K – $151.9K
NOI $9,112 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$191.1K
$167.2K – $223.0K
NOI $13,379 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 80521, CO
37,451
Population
15,121
Households
2.5
Avg Household Size
26
Median Age
63%
College-Educated
98%
High-School Grad
14.0 sq mi
ZIP Area
2,675
Density / Sq Mi
$52,679
Median Household Income
$15,918
Median Earnings
$1,412
Median Rent
$541,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Updated condo with modern amenities, close to CSU and local shops.
Where is this apartment building located?
The property is located at 1209 W Plum Street #7 Fort Fort Collins, CO.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Prime Location: Just 6 buildings from CSU campus and blocks from restaurants/shops.; Completely Remodeled: Extensive upgrades including new kitchen cabinets (2024) and laminate wood flooring (2023).; Updated Kitchen: Granite countertops, subway tile backsplash, under cabinet lighting, and newer appliances.
