Updated Craftsman
For Sale
$370,000
1304 14th Avenue, Greeley, CO 80631
Two independent dwelling units offer separate kitchens, laundry rooms, and recently improved interiors.
Property Size1,616 SF
Days on Market27
Property Features for 1304 14th Avenue
General Information
Standard status
Active
Size
1,616 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,674
Amenities
detached garage
storage shed
in-unit laundry
rear alley access
Building Details
Building Size
1,616 SF
Year Built
1917
Construction
Craftsman
Listing Agency:
RE/MAX of Boulder, Inc
Listed By:
Brad Clarkson · License #326461
(970) 381-0505
Source:
Eliselosassore
Added: Aug 20
Changed: Sep 5
Last Checked: Sep 14 at 10:40AM
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 RE/MAX of Boulder, Inc
Investment Insights
Based on property information with market context.
Built in 1917, this Craftsman-style duplex contains two separate dwelling units, each with its own kitchen and laundry room. Recent improvements include exterior paint, a Class 4 hail-resistant roof, new soffits and fascia, LVT flooring, updated bathroom plumbing fixtures, and LED lighting. Each unit also has a new stainless steel 18-cubic-foot refrigerator backed by a 2-year warranty.
The property includes a detached garage with an inspection and grease pit, a backyard storage shed with double doors, rear alley access, and a long driveway providing off-street parking. Its Greeley setting places the home within a short walk of Greeley Central High School and North Colorado Medical Center. The owner is also offering the neighboring house for sale.
The property includes a detached garage with an inspection and grease pit, a backyard storage shed with double doors, rear alley access, and a long driveway providing off-street parking. Its Greeley setting places the home within a short walk of Greeley Central High School and North Colorado Medical Center. The owner is also offering the neighboring house for sale.
Key Highlights
- Legal duplex with 2 separate dwelling units
- Each unit includes its own kitchen and laundry room
- New Class 4 hail‑resistant roof and exterior paint
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
$18,598
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
5.03%
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%
$371,960
$372.0K
Cap Rate 7%
$265,686
$265.7K
Cap Rate 9%
$206,644
$206.6K
Market Conditions
NOI Build-Up for 1,616 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
$28.1K $17.40/SF
− Vacancy
−$1.5K −$0.96/SF
EGI
$26.6K $16.44/SF
− OpEx
−$8.0K −$4.93/SF
NOI
$18.6K $11.51/SF
Area
Greeley, CO
Vacancy
5.51%
Lease Rate
$17.40 /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%
$371,960
Cap Rate 7%
$265,686
Cap Rate 9%
$206,644
Alternative Uses
Best Use
Multifamily LT 5
$265.7K
$232.5K – $310.0K
NOI $18,598 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$244.0K
$213.5K – $284.7K
NOI $17,080 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office B
$294.5K
$257.7K – $343.6K
NOI $20,616 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 80631, CO
52,336
Population
18,871
Households
2.8
Avg Household Size
29
Median Age
18%
College-Educated
73%
High-School Grad
103.6 sq mi
ZIP Area
505
Density / Sq Mi
$52,470
Median Household Income
$33,062
Median Earnings
$1,209
Median Rent
$300,400
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 - Two independent dwelling units offer separate kitchens, laundry rooms, and recently improved interiors.
Where is this duplex located?
The property is located at 1304 14th Avenue Greeley, CO.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Legal duplex with 2 separate dwelling units; Each unit includes its own kitchen and laundry room; New Class 4 hail‑resistant roof and exterior paint
