Second-Floor Income
For Sale
$259,000
206-5120 Williams Fork Trl, Boulder, CO 80301
Updated open-concept condo with convenient access to employment, trails, retail, dining, and downtown Boulder.
Property Size625 SF
Price / SF$414.40
Days on Market162
Property Features for 206-5120 Williams Fork Trl
General Information
Standard status
Active
Size
625 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,794
Listing Agency:
MOD Boulder
(720) 252-6051
Listed By:
Sean McIllwain
(720) 252-6051
Source:
Exprealty
Added: Feb 27
Changed: Aug 5
Last Checked: Aug 8 at 7:58AM
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 MOD Boulder
Investment Insights
Based on property information with market context.
This 625-square-foot, second-floor condominium is configured as a residential income property with an open-concept floor plan and recent updates. The unit is described as well maintained and designed for efficient use of its interior space, supporting a straightforward ownership and management profile.
Located at 206-5120 Williams Fork Trl in Boulder, the property offers access to major employment hubs, trail networks, retail, and dining. The location also provides commuter access to downtown Boulder and surrounding technology corridors, placing everyday services and employment destinations within the broader area.
The condominium’s combination of compact size, updated condition, and income-property classification provides a focused residential asset for an investor or a buyer completing a 1031 exchange.
Located at 206-5120 Williams Fork Trl in Boulder, the property offers access to major employment hubs, trail networks, retail, and dining. The location also provides commuter access to downtown Boulder and surrounding technology corridors, placing everyday services and employment destinations within the broader area.
The condominium’s combination of compact size, updated condition, and income-property classification provides a focused residential asset for an investor or a buyer completing a 1031 exchange.
Key Highlights
- 625‑square‑foot second‑floor condominium
- Open‑concept floor plan
- Recent updates and well‑maintained condition
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
$9,848
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
3.80%
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%
$196,960
$197.0K
Cap Rate 7%
$140,686
$140.7K
Cap Rate 9%
$109,422
$109.4K
Market Conditions
NOI Build-Up for 625 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
$18.8K $30.00/SF
− Vacancy
−$844 −$1.35/SF
EGI
$17.9K $28.65/SF
− OpEx
−$8.1K −$12.89/SF
NOI
$9.8K $15.76/SF
Area
Boulder, CO
Vacancy
4.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$196,960
Cap Rate 7%
$140,686
Cap Rate 9%
$109,422
Alternative Uses
Best Use
Apartment 5plus
$140.7K
$123.1K – $164.1K
NOI $9,848 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$211.2K
$184.8K – $246.4K
NOI $14,784 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
787
Businesses Nearby
Explore this area
Business Placement
Demographics for 80301, CO
25,944
Population
12,644
Households
2.1
Avg Household Size
38
Median Age
69%
College-Educated
97%
High-School Grad
28.6 sq mi
ZIP Area
907
Density / Sq Mi
$92,974
Median Household Income
$52,325
Median Earnings
$1,999
Median Rent
$761,500
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated open-concept condo with convenient access to employment, trails, retail, dining, and downtown Boulder.
Where is this residential income property located?
The property is located at 206-5120 Williams Fork Trl Boulder, CO.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 625‑square‑foot second‑floor condominium; Open‑concept floor plan; Recent updates and well‑maintained condition
