Updated Duplex with Separate
For Sale
$429,900
2021 8th Ave, Greeley, CO 80631
Two self-contained residences with private lower-level access, shared laundry, and full kitchens in a convenient Greeley setting.
Property Size2,461 SF
Price / SF$174.69
Days on Market59
Property Features for 2021 8th Ave
General Information
Standard status
Active
Size
2,461 SF
Property subtype
Mixed Use
Building Details
Year Built
1912
Listing Agency:
C3 Real Estate Solutions, LLC
(970) 420-6313
Listed By:
Nick Vorrath · License #100043252
Source:
Thestrohmangroup
Added: Jul 4
Changed: Aug 29
Last Checked: Aug 30 at 7:23PM
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 C3 Real Estate Solutions, LLC
Investment Insights
Based on property information with market context.
Built in 1912, this duplex contains two distinct living units with separate entrances and practical residential layouts. The main-level residence measures approximately 1,243 square feet and includes three bedrooms, one full bathroom, a full kitchen, and refinished hardwood flooring completed in 2023. The lower residence offers approximately 1,208 square feet, two bedrooms, a 3/4 bathroom, a private entrance, and its own full kitchen. Both kitchens include a refrigerator, oven/range, microwave, and dishwasher. A shared laundry area serves both units and includes a washer and dryer.
Recent property updates include a new roof in 2026 and two new water heaters in 2026. The property is located at 2021 8th Avenue in Greeley, near the University of Northern Colorado, downtown Greeley, the LINC Library & Innovation Center, restaurants, shopping, the Farmers Market, Ice Haus skating rink, parks, and walking and biking trails.
Recent property updates include a new roof in 2026 and two new water heaters in 2026. The property is located at 2021 8th Avenue in Greeley, near the University of Northern Colorado, downtown Greeley, the LINC Library & Innovation Center, restaurants, shopping, the Farmers Market, Ice Haus skating rink, parks, and walking and biking trails.
Key Highlights
- Two‑unit duplex with approximately 2,451 square feet across both residences
- Main‑level unit: approximately 1,243 square feet, 3 bedrooms, and 1 full bathroom
- Lower‑level unit: approximately 1,208 square feet, 2 bedrooms, and a 3/4 bathroom
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
$28,323
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
6.59%
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%
$566,460
$566.5K
Cap Rate 7%
$404,614
$404.6K
Cap Rate 9%
$314,700
$314.7K
Market Conditions
NOI Build-Up for 2,461 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
$42.8K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$40.5K $16.44/SF
− OpEx
−$12.1K −$4.93/SF
NOI
$28.3K $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%
$566,460
Cap Rate 7%
$404,614
Cap Rate 9%
$314,700
Alternative Uses
Best Use
Multifamily LT 5
$404.6K
$354.0K – $472.1K
NOI $28,323 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$371.6K
$325.1K – $433.5K
NOI $26,011 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office B
$448.5K
$392.5K – $523.3K
NOI $31,396 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
523
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two self-contained residences with private lower-level access, shared laundry, and full kitchens in a convenient Greeley setting.
Where is this duplex located?
The property is located at 2021 8th Ave Greeley, CO.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,451 square feet across both residences; Main‑level unit: approximately 1,243 square feet, 3 bedrooms, and 1 full bathroom; Lower‑level unit: approximately 1,208 square feet, 2 bedrooms, and a 3/4 bathroom
