Historic Old Town
New
For Sale
$1,000,000
202 Peterson St, Fort Collins, CO 80524
Four separately entered one-bedroom residences across from Library Park, with current occupancy and professional management in place.
Property Size2,326 SF
Price / SF$429.92
Days on Market3
Property Features for 202 Peterson St
General Information
Standard status
Active
Size
2,326 SF
Property subtype
Multi-Family
Zoning
OT-B
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1892
Stories
2
Construction
Tudor Revival
Listing Agency:
eXp Realty LLC
Listed By:
Dave Werner 9705818377
(970) 581-8377
Source:
Seehomesincolorado
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 2 at 6:42PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This Tudor Revival quadplex, built in 1892, contains four one-bedroom, one-bath units, each with a kitchen, private entrance, and distinct interior character. The property provides 2,326 square feet on a double lot and is zoned OT-B, an Old Town medium-density designation.
All four units are currently rented, with lease expiration dates distributed across the residences. The property has remained under family ownership for decades and has been professionally managed with regular in-person inspections. Monthly utility charges are handled by management and recovered through the following year's rents.
The building is located across from the library and Library Park in Historic Old Town Fort Collins, within walking distance of Old Town amenities and one mile from CSU.
All four units are currently rented, with lease expiration dates distributed across the residences. The property has remained under family ownership for decades and has been professionally managed with regular in-person inspections. Monthly utility charges are handled by management and recovered through the following year's rents.
The building is located across from the library and Library Park in Historic Old Town Fort Collins, within walking distance of Old Town amenities and one mile from CSU.
Key Highlights
- Four one‑bedroom, one‑bath units, each with a kitchen and separate entry
- 2,326‑square‑foot Tudor Revival building constructed in 1892
- Double lot with OT‑B Old Town medium‑density zoning
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
$31,118
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
3.11%
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%
$622,360
$622.4K
Cap Rate 7%
$444,543
$444.5K
Cap Rate 9%
$345,756
$345.8K
Market Conditions
NOI Build-Up for 2,326 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
$46.9K $20.16/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$44.5K $19.11/SF
− OpEx
−$13.3K −$5.73/SF
NOI
$31.1K $13.38/SF
Area
Fort Collins, CO
Vacancy
5.20%
Lease Rate
$20.16 /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%
$622,360
Cap Rate 7%
$444,543
Cap Rate 9%
$345,756
Alternative Uses
Best Use
Multifamily LT 5
$444.5K
$389.0K – $518.6K
NOI $31,118 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$412.5K
$361.0K – $481.3K
NOI $28,876 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$605.7K
$530.0K – $706.6K
NOI $42,398 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 80524, CO
39,030
Population
17,548
Households
2.2
Avg Household Size
37
Median Age
52%
College-Educated
94%
High-School Grad
122.7 sq mi
ZIP Area
318
Density / Sq Mi
$84,440
Median Household Income
$45,046
Median Earnings
$1,623
Median Rent
$527,700
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?
Quadplex - Four separately entered one-bedroom residences across from Library Park, with current occupancy and professional management in place.
Where is this quadplex located?
The property is located at 202 Peterson St Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units, each with a kitchen and separate entry; 2,326‑square‑foot Tudor Revival building constructed in 1892; Double lot with OT‑B Old Town medium‑density zoning
