Duplex Patio Home with Covered
For Sale
Under Contract
$500,000
1435 Elmhurst Ln, Longmont, CO 80503
CONDOS - Contemporary - Longmont, CO
Property Size1,470 SF
Lot Size0.08 Acres
Price / SF$340.14
Days on Market58
Property Features for 1435 Elmhurst Ln
General Information
Property type
Residential
Property subtype
Duplex
Zoning
RES
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Laundry Room, Bathroom 1, Dining Room, Bedroom 2, Bathroom 2, Laundry Room, Basement, Bedroom 1
Window features
Window Coverings
Patio and Porch features
Patio
Interior features
Separate Dining Room, Open Floorplan, Washer/Dryer Hookup
Exterior features
Balcony
Basement
Crawl Space
Appliances
Electric Range, Dishwasher, Refrigerator, Washer, Dryer, Microwave
Subdivision
Hover Park
Lot features
Level, Abuts Private Open Space, House Faces East, City Limits, Paved, Fire Hydrant within 500 Feet
Elementary school
Longmont Estates
Middle school
Westview
High school
Silver Creek
Elementary school district
ST Vrain Dist RE 1J
Middle school district
ST Vrain Dist RE 1J
High school district
ST Vrain Dist RE 1J
Standard status
Active Under Contract
APN
R0131191
Size
1,470 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3110
HOA Fee
$450 Monthly
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Amenities
covered back patio
Building Details
Year built
1986
Floors in Building
1
Building materials
Frame, Composition
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
1st Realty Associates Inc · Keller Williams Realty
(303) 776-3200
Listed By:
Brittany Rusaw
(720) 352-9824
Added: Jun 12
Changed: Aug 2
Last Checked: Aug 8 at 9:06AM
MLS# 1061761
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This patio-home style duplex offers low-maintenance, one-level living with a contemporary layout. The interior includes an open floorplan with a separate dining room, washer/dryer hookups, and central forced-air heating with central air conditioning. The kitchen is equipped with an electric range, dishwasher, refrigerator, microwave, washer, and dryer. A covered back patio with views of open green space extends the living area outdoors.
Exterior features include a balcony and an attached 2-car garage for convenient storage. The HOA handles grounds maintenance, snow removal, and trash, supporting a true lock-and-leave lifestyle. The home is served by public sewer, with cable available.
Built in 1986 on a 0.08-acre lot, the property totals 1,470 square feet and features a composition roof. Additional interior rooms include a laundry room, basement, and two bedrooms with two bathrooms.
Exterior features include a balcony and an attached 2-car garage for convenient storage. The HOA handles grounds maintenance, snow removal, and trash, supporting a true lock-and-leave lifestyle. The home is served by public sewer, with cable available.
Built in 1986 on a 0.08-acre lot, the property totals 1,470 square feet and features a composition roof. Additional interior rooms include a laundry room, basement, and two bedrooms with two bathrooms.
Key Highlights
- One‑level layout with covered back patio facing open green space
- HOA handles grounds maintenance, snow removal, and trash
- Attached 2‑car garage for storage and convenience
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
$16,918
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
3.38%
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%
$338,360
$338.4K
Cap Rate 7%
$241,686
$241.7K
Cap Rate 9%
$187,978
$188.0K
Market Conditions
NOI Build-Up for 1,470 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
$25.6K $17.40/SF
− Vacancy
−$1.4K −$0.96/SF
EGI
$24.2K $16.44/SF
− OpEx
−$7.3K −$4.93/SF
NOI
$16.9K $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%
$338,360
Cap Rate 7%
$241,686
Cap Rate 9%
$187,978
Alternative Uses
Best Use
Multifamily LT 5
$241.7K
$211.5K – $282.0K
NOI $16,918 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$222.0K
$194.2K – $259.0K
NOI $15,537 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office B
$267.9K
$234.4K – $312.6K
NOI $18,754 @ 7.0% cap · market cap 3.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
844
Businesses Nearby
Explore this area
Business Placement
Demographics for 80503, CO
35,863
Population
15,508
Households
2.3
Avg Household Size
44
Median Age
60%
College-Educated
97%
High-School Grad
91.7 sq mi
ZIP Area
391
Density / Sq Mi
$118,465
Median Household Income
$55,417
Median Earnings
$1,843
Median Rent
$704,800
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 - One-level patio home in a 55+ community with HOA-managed grounds, snow removal, and trash.
Where is this duplex located?
The property is located at 1435 Elmhurst Ln Longmont, CO.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: One‑level layout with covered back patio facing open green space; HOA handles grounds maintenance, snow removal, and trash; Attached 2‑car garage for storage and convenience
