Updated Two-Unit
For Sale
$445,000
239 S Elm Street, Fruita, CO 81521
Residential, Fruita, CO
Property Size1,745 SF
Price / SF$255.01
Days on Market100
Property Features for 239 S Elm Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 3
Appliances
Dishwasher, Refrigerator
Elementary school
Shelledy
Middle school
Fruita
High school
Fruita Monument
Directions
From Highway 50 in Fruita, turn north onto South Elm Street. 239 South Elm is on the left, across from Fruita's Reed Park.
Subdivision
Fruita
Standard status
Active
APN
2697-173-02-016
Size
1,745 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1586
Utilities
Heating system
Electric (Heating)
Amenities
private fenced-in patio
Building Details
Year built
1986
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
WoodSiding, WoodFrame
Roof type
Asphalt, Composition
Architectural style
Ranch
Listing Agency:
9TH PATH REALTY - BROKERAGE
(970) 248-8399
Listed By:
Jason Fish
(970) 248-8399
Added: May 18
Changed: Aug 24
Last Checked: Aug 25 at 8:06AM
MLS# 20262356
Copyright © 2026 Grand Junction Area Association of Realtors. 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 1,745-square-foot duplex contains two distinct rental residences, each arranged with 2 bedrooms and 1 bathroom. The single-story ranch-style property includes private fenced patio areas for both units. Improvements completed since 2021 include new roofs, evaporative coolers, carpet, LVP flooring, ovens and hoods, and interior paint; Unit A also received a dishwasher and water heater. One residence is occupied on a month-to-month lease, while the second is vacant and ready for move-in.
The property is located at 239 S Elm Street in Fruita, directly across from Reed Park and approximately 0.5 miles from City Market and downtown bars and restaurants. It is designated Downtown Mixed Use - Core, with the source information identifying potential for parcel combination and future redevelopment. Buyer to verify all information.
The property is located at 239 S Elm Street in Fruita, directly across from Reed Park and approximately 0.5 miles from City Market and downtown bars and restaurants. It is designated Downtown Mixed Use - Core, with the source information identifying potential for parcel combination and future redevelopment. Buyer to verify all information.
Key Highlights
- Two separate 2‑bedroom, 1‑bathroom units within a 1,745‑square‑foot duplex
- Unit A occupied on a month‑to‑month lease; Unit B vacant and move‑in ready
- Updates since 2021 include roofs, evaporative coolers, flooring, appliances, and interior paint
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
$17,355
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
3.90%
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%
$347,100
$347.1K
Cap Rate 7%
$247,929
$247.9K
Cap Rate 9%
$192,833
$192.8K
Market Conditions
NOI Build-Up for 1,745 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
$26.8K $15.36/SF
− Vacancy
−$2.0K −$1.15/SF
EGI
$24.8K $14.21/SF
− OpEx
−$7.4K −$4.26/SF
NOI
$17.4K $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 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%
$347,100
Cap Rate 7%
$247,929
Cap Rate 9%
$192,833
Alternative Uses
Best Use
Multifamily LT 5
$247.9K
$216.9K – $289.3K
NOI $17,355 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$227.7K
$199.2K – $265.6K
NOI $15,937 @ 7.0% cap · market cap 3.58%
Theoretical Best
Healthcare Medical
$3.31M
$2.90M – $3.86M
NOI $231,806 @ 7.0% cap · market cap 52.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Explore this area
Business Placement
Demographics for 81521, CO
16,446
Population
6,531
Households
2.5
Avg Household Size
40
Median Age
32%
College-Educated
94%
High-School Grad
181.6 sq mi
ZIP Area
91
Density / Sq Mi
$82,632
Median Household Income
$41,801
Median Earnings
$1,249
Median Rent
$385,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Single-story income property with separate residences, fenced patios, and one vacant unit ready for occupancy.
Where is this duplex located?
The property is located at 239 S Elm Street Fruita, CO.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Two separate 2‑bedroom, 1‑bathroom units within a 1,745‑square‑foot duplex; Unit A occupied on a month‑to‑month lease; Unit B vacant and move‑in ready; Updates since 2021 include roofs, evaporative coolers, flooring, appliances, and interior paint
