Condo Near Colorado State
For Sale
$185,000
1301 University Avenue #202 Fort, Fort Collins, CO 80521
Two-bedroom condo near Colorado State University with in-unit laundry.
Property Size805 SF
Price / SF$229.81
Days on Market354
Property Features for 1301 University Avenue #202 Fort
General Information
Standard status
Active
Size
805 SF
Property subtype
Condominium
Amenities
Fireplace
Cable Ready
Ceiling Fan(s)
Baseboard
Dishwasher
Dryer
Oven
Washer
Deck, Electricity Connected, Internet Access (Wired), Cable Available, Electricity Available, Composition
Building Details
Building Size
805 SF
Year Built
1984
Listing Agency:
Group Harmony
(970) 692-4454
Listed By:
Jesse Myers · License #942795
(970) 231-1609
Source:
Kw
Added: Aug 26, 2025
Changed: Aug 8
Last Checked: Aug 13 at 5:00PM
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 Group Harmony
Investment Insights
Based on property information with market context.
This two-bedroom, one-bath condo is located on the second floor and is within walking distance of Colorado State University. The unit features an efficient layout with in-unit laundry, a wood-burning fireplace, and a balcony shaded by mature trees. The Homeowners Association dues cover water, sewer, trash, grounds maintenance, and exterior building maintenance. Ample off-street parking is available on both sides of the building. The property's westside location provides easy access to trails, parks, and water recreation, as well as the shops, restaurants, and opportunities of Old Town Fort Collins.
Key Highlights
- Walking distance to Colorado State University and Old Town Fort Collins.
- In‑unit laundry and wood‑burning fireplace.
- Reasonable HOA dues include water, sewer, trash, grounds maintenance, and exterior building maintenance.
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
$9,994
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
5.40%
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%
$199,880
$199.9K
Cap Rate 7%
$142,771
$142.8K
Cap Rate 9%
$111,044
$111.0K
Market Conditions
NOI Build-Up for 805 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
$19.1K $23.76/SF
− Vacancy
−$956 −$1.19/SF
EGI
$18.2K $22.57/SF
− OpEx
−$8.2K −$10.16/SF
NOI
$10.0K $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%
$199,880
Cap Rate 7%
$142,771
Cap Rate 9%
$111,044
Alternative Uses
Best Use
Apartment 5plus
$142.8K
$124.9K – $166.6K
NOI $9,994 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$209.6K
$183.4K – $244.6K
NOI $14,674 @ 7.0% cap · market cap 7.93%
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom condo near Colorado State University with in-unit laundry.
Where is this apartment building located?
The property is located at 1301 University Avenue #202 Fort Fort Collins, CO.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Walking distance to Colorado State University and Old Town Fort Collins.; In‑unit laundry and wood‑burning fireplace.; Reasonable HOA dues include water, sewer, trash, grounds maintenance, and exterior building maintenance.
