Half-Duplex Residential Income
220 S Spruce St Fort Morgan, CO 80701
220 S Spruce St, Fort Morgan, CO, 80701
$269,900
For Sale
$269,900
CONDOS - Fort Morgan, CO
Property Size2,280 SF
Lot Size0.14 Acres
Price / SF$118.38
Days on Market98
Property Features for 220 S Spruce St
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Zoning
- Res
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 3, Basement, Bathroom 1, Bedroom 2, Bedroom 1
- Parking features
- Off Street
- Window features
- Window Coverings
- Pets allowed
- Cats OK, Dogs OK
- Interior features
- Eat-in Kitchen, Open Floorplan, Walk-In Closet(s)
- Exterior features
- Sprinkler System
- Fencing
- Fenced
- Basement
- Full, Unfinished
- Appliances
- Electric Range, Dishwasher, Refrigerator, Washer, Dryer
- Standard status
- Active
- APN
- 122907142006
- Size
- 2,280 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 954
Utilities
- Utilities
- Natural Gas Available
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2002
- Floors in Building
- 1
- Building materials
- Frame
- Roof type
- Composition
- Additional Structures
- Storage
Listing Agency
eXp Realty LLC
(888) 440-2724
9800 Pyramid Ct. Ste 400, Englewoood, CO
Listed by
Baylei Curtis
(970) 441-0223
Added: Apr 13 Checked: Jul 19 at 12:06 am
MLS# 1056341
Listing URL
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 well-maintained half-duplex offers 3 bedrooms and 2 bathrooms with convenient main-floor living. The primary suite includes a private attached bathroom, lots of storage, and a walk-in closet. A second full bath serves two additional bedrooms for flexible use.
Recent updates include a new roof, new windows, new carpet in the living room/primary bedroom, and some fresh interior paint. The seller will also be installing granite countertops. Downstairs features a full unfinished basement with a bathroom rough-in ready for future improvements. Outside, enjoy a fully fenced backyard and a storage shed.
Off-street parking is available with space for two vehicles directly in front of the home. The property is listed under residential zoning (Res).
Recent updates include a new roof, new windows, new carpet in the living room/primary bedroom, and some fresh interior paint. The seller will also be installing granite countertops. Downstairs features a full unfinished basement with a bathroom rough-in ready for future improvements. Outside, enjoy a fully fenced backyard and a storage shed.
Off-street parking is available with space for two vehicles directly in front of the home. The property is listed under residential zoning (Res).
Key Highlights
- 3‑bedroom, 2‑bath half‑duplex with main‑floor living and open floorplan
- Primary suite includes an attached bath and walk‑in closet
- Unfinished full basement with bathroom rough‑in ready for future expansion
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.0k | $15.36 |
| − Vacancy | −$2.3k | −$1.02 |
| EGI | $32.7k | $14.34 |
| − OpEx | −$9.8k | −$4.30 |
| NOI | $22.9k | $10.04 |
2,280 SF · lease $15.36/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$326.9K
$286.1K – $381.4K
NOI $22,884 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$293.9K
$257.2K – $342.9K
NOI $20,572 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$667.6K
$584.1K – $778.9K
NOI $46,731 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained half-duplex with 3 beds, 2 baths, off-street parking for two, fenced yard, and an unfinished basement.
Where is this duplex located?
The property is located at 220 S Spruce St Fort Morgan, CO.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 3‑bedroom, 2‑bath half‑duplex with main‑floor living and open floorplan; Primary suite includes an attached bath and walk‑in closet; Unfinished full basement with bathroom rough‑in ready for future expansion
