Three-Unit Property with Detached
New
For Sale
$617,000
1715 11th Ave, Greeley, CO 80631
Residential Income, Greeley, CO
Property Size3,600 SF
Lot Size0.22 Acres
Price / SF$171.39
Days on Market2
Property Features for 1715 11th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-H
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 9, Bedroom 5, Bathroom 4, Bathroom 2, Bedroom 8, Bedroom 2, Bedroom 4, Basement, Bedroom 7, Bedroom 6
Interior features
Eat-in Kitchen, Washer/Dryer Hookup
Basement
Full
Appliances
Fire Alarm
Subdivision
Cranfords Sub
Lot features
Paved, Curbs, Gutters, Sidewalks
Elementary school
Maplewood
Middle school
Heath
High school
Greeley Central
Elementary school district
Greeley 6
Middle school district
Greeley 6
High school district
Greeley 6
Directions
11th Avenue South to property, (West side of street)
Standard status
Active
APN
R3181686
Size
3,600 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3435
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Building Details
Year built
1901
Floors in Building
2
Number of units
3
Building materials
Frame
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
C3 Real Estate Solutions, LLC
(970) 225-5152
Listed By:
Erin Brady
(970) 978-8698
Added: Sep 1
Last Checked: Sep 2 at 2:06AM
MLS# 1067712
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 three-unit residential property contains 3,600 square feet on a 0.22-acre lot. The unit mix includes one three-bedroom, two-bath residence and two three-bedroom, one-bath residences. One unit is available, while another has been recently remodeled. A detached 576-square-foot, two-car garage provides an additional functional component, and the property also includes a covered front porch, shared driveway, alley access, and parking.
Built in 1901, the frame property features forced-air heat, a composition roof, public sewer, and natural gas availability. The residences are separately metered for gas and electricity, and tenants pay all utilities. The R-H-zoned property is located near the University of Northern Colorado and downtown Greeley, with mature trees and fresh exterior paint adding to the site’s residential character.
Built in 1901, the frame property features forced-air heat, a composition roof, public sewer, and natural gas availability. The residences are separately metered for gas and electricity, and tenants pay all utilities. The R-H-zoned property is located near the University of Northern Colorado and downtown Greeley, with mature trees and fresh exterior paint adding to the site’s residential character.
Key Highlights
- Three‑unit property with 3,600 SF of building area
- Unit mix includes two 3‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit
- Detached 576 SF two‑car garage
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
$41,432
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
6.72%
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%
$828,640
$828.6K
Cap Rate 7%
$591,886
$591.9K
Cap Rate 9%
$460,356
$460.4K
Market Conditions
NOI Build-Up for 3,600 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
$62.6K $17.40/SF
− Vacancy
−$3.5K −$0.96/SF
EGI
$59.2K $16.44/SF
− OpEx
−$17.8K −$4.93/SF
NOI
$41.4K $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%
$828,640
Cap Rate 7%
$591,886
Cap Rate 9%
$460,356
Alternative Uses
Best Use
Multifamily LT 5
$591.9K
$517.9K – $690.5K
NOI $41,432 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$543.6K
$475.6K – $634.2K
NOI $38,049 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office B
$656.1K
$574.1K – $765.5K
NOI $45,927 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
788
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?
Triplex - Each residence has separate gas and electric metering, while tenants pay all utilities.
Where is this triplex located?
The property is located at 1715 11th Ave Greeley, CO.
What is the asking price?
The asking price for this property is $617,000.
What are key features of this property?
This property features: Three‑unit property with 3,600 SF of building area; Unit mix includes two 3‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit; Detached 576 SF two‑car garage
