Two-Unit Duplex With Detached
For Sale
$450,000
Pending
1356-1358 Merl Place, Longmont, CO 80501
Front and rear residences share matching two-bedroom layouts on a cul-de-sac lot.
Property Size1,768 SF
Lot Size0.23 Acres
Days on Market49
Property Features for 1356-1358 Merl Place
General Information
Standard status
Pending
Size
1,768 SF
Lot size
0.23 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,467
Building Details
Year Built
1972
Buildings
1
Tenancy
Multi
Listing Agency:
Compass - Boulder
(303) 487-5472
Listed By:
Brian Sundberg · License #40013938
(303) 931-5483
Source:
Exitrealty
Added: Jul 31
Changed: Sep 10
Last Checked: Sep 15 at 6:35AM
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 Compass - Boulder
Investment Insights
Based on property information with market context.
This front-and-back duplex includes two matching 884-square-foot residences, each with two bedrooms, one bathroom, a kitchen, dining room, living room, and a laundry closet with side-by-side washer and dryer hookups. The front unit has new carpet and vinyl flooring, with its existing appliances included. The back unit is rented, while the front unit is positioned for an owner-occupant. A new roof was installed in 2023.
The property occupies a 9,978-square-foot lot on a cul-de-sac in North Longmont. Each residence has its own detached one-car garage, and the long shared driveway provides additional parking. The back garage door is scheduled for repair and currently does not open. Built in 1972, the duplex offers separate living spaces with a consistent floor plan across both units.
The property occupies a 9,978-square-foot lot on a cul-de-sac in North Longmont. Each residence has its own detached one-car garage, and the long shared driveway provides additional parking. The back garage door is scheduled for repair and currently does not open. Built in 1972, the duplex offers separate living spaces with a consistent floor plan across both units.
Key Highlights
- Two 884‑square‑foot units with matching two‑bedroom, one‑bathroom floor plans
- Front unit features new carpet, new vinyl flooring, and included appliances
- Back unit is rented; front unit is positioned for an owner‑occupant
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
$20,348
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
4.52%
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%
$406,960
$407.0K
Cap Rate 7%
$290,686
$290.7K
Cap Rate 9%
$226,089
$226.1K
Market Conditions
NOI Build-Up for 1,768 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
$30.8K $17.40/SF
− Vacancy
−$1.7K −$0.96/SF
EGI
$29.1K $16.44/SF
− OpEx
−$8.7K −$4.93/SF
NOI
$20.3K $11.51/SF
Area
Weld County, 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%
$406,960
Cap Rate 7%
$290,686
Cap Rate 9%
$226,089
Alternative Uses
Best Use
Multifamily LT 5
$290.7K
$254.4K – $339.1K
NOI $20,348 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$266.9K
$233.6K – $311.4K
NOI $18,686 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office B
$322.2K
$281.9K – $375.9K
NOI $22,555 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Explore this area
Business Placement
Demographics for 80501, CO
42,822
Population
19,173
Households
2.2
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
3,399
Density / Sq Mi
$77,705
Median Household Income
$42,599
Median Earnings
$1,586
Median Rent
$461,400
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 - Front and rear residences share matching two-bedroom layouts on a cul-de-sac lot.
Where is this duplex located?
The property is located at 1356-1358 Merl Place Longmont, CO.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two 884‑square‑foot units with matching two‑bedroom, one‑bathroom floor plans; Front unit features new carpet, new vinyl flooring, and included appliances; Back unit is rented; front unit is positioned for an owner‑occupant
