Turnkey Furnished Two-Unit
For Sale
$545,000
703 W 29th St, Loveland, CO 80538
Fully furnished duplex with two rental units, each with stackable washer/dryer, and no HOA or metro district.
Property Size1,976 SF
Days on Market70
Property Features for 703 W 29th St
General Information
Standard status
Active
Size
1,976 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,347
Building Details
Building Size
1,976 SF
Year Built
1969
Listing Agency:
(970) 214-4026
Listed By:
Damien Parrish
(970) 214-4026
Source:
Elliman
Added: Jun 22
Changed: Aug 27
Last Checked: Aug 28 at 2:14PM
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 Damien Parrish
Investment Insights
Based on property information with market context.
This two-unit duplex is being offered as a fully furnished, turnkey rental opportunity. The property comes with household items and appliances, including small and large appliances, dishes and silverware, and window coverings. Both units include bedroom furnishings, with king beds and bedding plus queen beds and bedding included. Laundry is provided with stackable washer/dryer units on the lower level and stackable washer/dryer units on the upper level, supporting straightforward day-to-day occupancy.
The duplex is located in the heart of Loveland. Both units are currently rented, with one unit operating on a month-to-month arrangement and the other unit leased through October 2026. The property is described as being just minutes to downtown, boutique shops, and fine dining, providing convenient access to local amenities.
For tenants, the furnished setup reduces initial move-in costs and shortens the time required to get settled. For buyers and operators, the existing rental occupancy and included items (from appliances to bedding and cookware) provide a practical, ready-to-run configuration. With no HOA and no metro district identified, the property may appeal to buyers seeking a straightforward ownership structure.
The duplex is located in the heart of Loveland. Both units are currently rented, with one unit operating on a month-to-month arrangement and the other unit leased through October 2026. The property is described as being just minutes to downtown, boutique shops, and fine dining, providing convenient access to local amenities.
For tenants, the furnished setup reduces initial move-in costs and shortens the time required to get settled. For buyers and operators, the existing rental occupancy and included items (from appliances to bedding and cookware) provide a practical, ready-to-run configuration. With no HOA and no metro district identified, the property may appeal to buyers seeking a straightforward ownership structure.
Key Highlights
- Duplex built in 1969 with two fully furnished rental units
- Unit 1 is month‑to‑month rented at $2,300
- Unit 2 is rented through October 2026 at $2,200
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
$20,339
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
3.73%
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%
$406,780
$406.8K
Cap Rate 7%
$290,557
$290.6K
Cap Rate 9%
$225,989
$226.0K
Market Conditions
NOI Build-Up for 1,976 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
$30.4K $15.36/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$29.1K $14.70/SF
− OpEx
−$8.7K −$4.41/SF
NOI
$20.3K $10.29/SF
Area
Larimer County, CO
Vacancy
4.27%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
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%
$406,780
Cap Rate 7%
$290,557
Cap Rate 9%
$225,989
Alternative Uses
Best Use
Multifamily LT 5
$290.6K
$254.2K – $339.0K
NOI $20,339 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$268.7K
$235.1K – $313.5K
NOI $18,807 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$530.4K
$464.1K – $618.8K
NOI $37,127 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Explore this area
Business Placement
Demographics for 80538, CO
49,084
Population
21,923
Households
2.2
Avg Household Size
43
Median Age
42%
College-Educated
96%
High-School Grad
102.2 sq mi
ZIP Area
480
Density / Sq Mi
$85,057
Median Household Income
$49,074
Median Earnings
$1,730
Median Rent
$472,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully furnished duplex with two rental units, each with stackable washer/dryer, and no HOA or metro district.
Where is this duplex located?
The property is located at 703 W 29th St Loveland, CO.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Duplex built in 1969 with two fully furnished rental units; Unit 1 is month‑to‑month rented at $2,300; Unit 2 is rented through October 2026 at $2,200
