Two-Home Duplex
For Sale
$765,000
2208 Mudgett Street, Grand Junction, CO 81507
Two separate residences offer distinct living spaces, with a garage serving each home.
Property Size2,380 SF
Lot Size0.89 Acres
Price / SF$321.43
Days on Market34
Property Features for 2208 Mudgett Street
General Information
Standard status
Active
Size
2,380 SF
Total Parking Spaces
4
Lot size
0.89 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,030
Amenities
walled garden area
RV parking area
Building Details
Building Size
2,380 SF
Year Built
2000
Buildings
2
Listing Agency:
RE/MAX 4000, INC
Listed By:
JO JO HUBBARD
(970) 250-5815
Source:
Thevangundygroup
Added: Sep 30
Changed: Nov 1
Last Checked: Nov 1 at 3:39PM
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 RE/MAX 4000, INC
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Investment Insights
Based on property information with market context.
This duplex property includes two residences on 0.89 acres. The primary home has 2 bedrooms, 2 bathrooms, and an attached 2-car garage. A second dwelling provides 3 bedrooms, 2 bathrooms, and a detached 2-car garage. Additional site features include a circular driveway, a large RV parking area, space for animals, and a walled garden. The property was built in 2000 and has no HOA.
The site backs to hiking trails and is minutes from downtown Grand Junction, shopping, hospitals, and the airport. Biking and recreational trails are also nearby.
The site backs to hiking trails and is minutes from downtown Grand Junction, shopping, hospitals, and the airport. Biking and recreational trails are also nearby.
Key Highlights
- Two residences on 0.89 acres
- Primary home: 2 bedrooms, 2 bathrooms, and an attached 2‑car garage
- Second dwelling: 3 bedrooms, 2 bathrooms, and a detached 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,671
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,420
$473.4K
Cap Rate 7%
$338,157
$338.2K
Cap Rate 9%
$263,011
$263.0K
Market Conditions
NOI Build-Up for 2,380 SF
Gross rent
$36.6K $15.36/SF
− Vacancy
−$2.7K −$1.15/SF
EGI
$33.8K $14.21/SF
− OpEx
−$10.1K −$4.26/SF
NOI
$23.7K $9.95/SF
Area
Mesa County, CO
Vacancy
7.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,420
Cap Rate 7%
$338,157
Cap Rate 9%
$263,011
Alternative Uses
Best Use
Multifamily LT 5
$338.2K
$295.9K – $394.5K
NOI $23,671 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$310.5K
$271.7K – $362.3K
NOI $21,736 @ 7.0% cap · market cap 2.84%
Theoretical Best
Healthcare Medical
$4.52M
$3.95M – $5.27M
NOI $316,159 @ 7.0% cap · market cap 41.33%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
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Business Placement
Demographics for 81507, CO
16,053
Population
7,256
Households
2.2
Avg Household Size
51
Median Age
56%
College-Educated
98%
High-School Grad
112.2 sq mi
ZIP Area
143
Density / Sq Mi
$106,039
Median Household Income
$53,084
Median Earnings
$1,580
Median Rent
$491,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer distinct living spaces, with a garage serving each home.
Where is this duplex located?
The property is located at 2208 Mudgett Street Grand Junction, CO.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Two residences on 0.89 acres; Primary home: 2 bedrooms, 2 bathrooms, and an attached 2‑car garage; Second dwelling: 3 bedrooms, 2 bathrooms, and a detached 2‑car garage
