All-Brick Duplex with Two
For Sale
$474,500
1706 17th Avenue, Greeley, CO 80631
The property includes separate electric metering, a shared backyard, and an attached two-car garage.
Property Size1,500 SF
Price / SF$316.33
Days on Market133
Property Features for 1706 17th Avenue
General Information
Standard status
Active
Size
1,500 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,702
Amenities
shared backyard
Building Details
Year Built
1965
Buildings
1
Construction
all-brick
Listing Agency:
Realty One Group Fourpoints
(970) 405-5061
Listed By:
Liz Montoya · License #40040704
(970) 405-5061
Source:
Exitrealty
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 30 at 3:02PM
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 Realty One Group Fourpoints
Investment Insights
Based on property information with market context.
This 1965 all-brick duplex contains two residences with distinct layouts. One unit provides 3 bedrooms and 1 bath, while the other offers 2 bedrooms and 1 bath. Both units have been freshly painted, and the lower residence features newer cabinets and updated flooring. That unit is clean and ready for occupancy or lease-up.
The property at 1706 17th Avenue in Greeley includes a shared attached 2-car garage and backyard. Each unit has a separate electric meter; the owner currently pays water, while gas service is divided between the residences. The roof is finished with hail-resistant shingles, providing a durable exterior component for the property.
The property at 1706 17th Avenue in Greeley includes a shared attached 2-car garage and backyard. Each unit has a separate electric meter; the owner currently pays water, while gas service is divided between the residences. The roof is finished with hail-resistant shingles, providing a durable exterior component for the property.
Key Highlights
- Two‑unit duplex with 3‑bedroom and 2‑bedroom residences
- All‑brick construction completed in 1965
- Both units freshly painted; lower unit has newer cabinets and updated flooring
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
$17,263
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
3.64%
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%
$345,260
$345.3K
Cap Rate 7%
$246,614
$246.6K
Cap Rate 9%
$191,811
$191.8K
Market Conditions
NOI Build-Up for 1,500 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
$26.1K $17.40/SF
− Vacancy
−$1.4K −$0.96/SF
EGI
$24.7K $16.44/SF
− OpEx
−$7.4K −$4.93/SF
NOI
$17.3K $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%
$345,260
Cap Rate 7%
$246,614
Cap Rate 9%
$191,811
Alternative Uses
Best Use
Multifamily LT 5
$246.6K
$215.8K – $287.7K
NOI $17,263 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$226.5K
$198.2K – $264.2K
NOI $15,854 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office B
$273.4K
$239.2K – $318.9K
NOI $19,136 @ 7.0% cap · market cap 4.03%
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
590
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 - The property includes separate electric metering, a shared backyard, and an attached two-car garage.
Where is this duplex located?
The property is located at 1706 17th Avenue Greeley, CO.
What is the asking price?
The asking price for this property is $474,500.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom and 2‑bedroom residences; All‑brick construction completed in 1965; Both units freshly painted; lower unit has newer cabinets and updated flooring
