Remodeled Ranch Duplex with Fenced
For Sale
$625,000
2415 West Avenue, Rifle, CO 81650
DUPLEX - Ranch - Rifle, CO
Property Size1,638 SF
Lot Size0.02 Acres
Price / SF$381.56
Days on Market134
Property Features for 2415 West Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 1
Parking
4
Fencing
Fenced
Basement
Crawl Space
Subdivision
Palomino Park Addition
Lot features
Landscaped
Directions
Exit Rifle North; Continue North on Railroad; Left on W 24th St; Right on West Ave; Units on Left (west side)
Standard status
Active
APN
217704312006
Size
1,638 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SECTION: 4 TOWNSHIP: 6 RANGE: 93 SUBDIVISION: PALOMINO PARK ADD. 2ND. BLOCK: 8 LOT: 6 9555 SQUARE FEET
Tax Annual Amount
2569
Legal Description
SECTION: 4 TOWNSHIP: 6 RANGE: 93 SUBDIVISION: PALOMINO PARK ADD. 2ND. BLOCK: 8 LOT: 6 9555 SQUARE FEET
Utilities
Heating system
Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Building materials
Wood Siding, Frame
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Western Slope Real Estate
(720) 648-9648
Listed By:
Kehaulani Rust · License #FA100077227
(970) 274-1351
Added: Apr 3
Changed: Aug 3
Last Checked: Aug 14 at 5:06PM
MLS# 192294
Copyright © 2026 Aspen Glenwood 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 remodeled ranch duplex offers a practical live-and-rent setup with two mirror-image units. Each unit includes two bedrooms and one bathroom, with open-concept living spaces and LVT flooring throughout. The kitchens feature solid granite kitchen islands, along with abundant cabinet and pantry storage. Bathrooms include custom tile finishes. Outdoors, each unit has its own large, fully privacy-fenced backyard designed for kids, pets, or entertaining. Parking includes two assigned spots per unit plus additional off-street parking. There is no HOA.
The property sits on a 0.02-acre lot and includes 1,638 square feet of total building area. Built in 1980 with wood siding and frame construction, it has a composition roof. Heating is baseboard, and cooling is provided by central air. Water service is public.
With separate fenced outdoor space and mirrored layouts, the duplex configuration supports flexible occupancy while maintaining clear separation between units.
The property sits on a 0.02-acre lot and includes 1,638 square feet of total building area. Built in 1980 with wood siding and frame construction, it has a composition roof. Heating is baseboard, and cooling is provided by central air. Water service is public.
With separate fenced outdoor space and mirrored layouts, the duplex configuration supports flexible occupancy while maintaining clear separation between units.
Key Highlights
- Remodeled duplex with two mirror‑image units, each with two bedrooms and one bathroom
- Each unit has its own large, fully privacy‑fenced backyard
- Open‑concept living spaces with LVT flooring throughout
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
$21,454
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
3.43%
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%
$429,080
$429.1K
Cap Rate 7%
$306,486
$306.5K
Cap Rate 9%
$238,378
$238.4K
Market Conditions
NOI Build-Up for 1,638 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
$32.4K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.6K $18.71/SF
− OpEx
−$9.2K −$5.61/SF
NOI
$21.5K $13.10/SF
Area
Garfield County, CO
Vacancy
5.50%
Lease Rate
$19.80 /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%
$429,080
Cap Rate 7%
$306,486
Cap Rate 9%
$238,378
Alternative Uses
Best Use
Multifamily LT 5
$306.5K
$268.2K – $357.6K
NOI $21,454 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$286.1K
$250.4K – $333.8K
NOI $20,029 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$429.0K
$375.4K – $500.5K
NOI $30,028 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Explore this area
Business Placement
Demographics for 81650, CO
14,336
Population
5,088
Households
2.8
Avg Household Size
34
Median Age
17%
College-Educated
85%
High-School Grad
1,022.7 sq mi
ZIP Area
14
Density / Sq Mi
$81,506
Median Household Income
$41,982
Median Earnings
$1,236
Median Rent
$397,100
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?
Duplex - Remodeled duplex features two mirror-image units, each with two bedrooms and a private fenced backyard.
Where is this duplex located?
The property is located at 2415 West Avenue Rifle, CO.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Remodeled duplex with two mirror‑image units, each with two bedrooms and one bathroom; Each unit has its own large, fully privacy‑fenced backyard; Open‑concept living spaces with LVT flooring throughout
