Updated Duplex with Four
For Sale
$490,000
2516 Glen View Avenue, Colorado Springs, CO 80904
Two similar units offer private baths, walk-in closets, and dedicated off-street parking.
Property Size1,600 SF
Price / SF$306.25
Days on Market168
Property Features for 2516 Glen View Avenue
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,473
Building Details
Year Built
1986
Listing Agency:
Max Realty LLC
(719) 640-1980
Listed By:
Max Ferguson · License #100092916
(719) 640-1980
Source:
Exitrealty
Added: Mar 11
Changed: Aug 24
Last Checked: Aug 25 at 5:48AM
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 Max Realty LLC
Investment Insights
Based on property information with market context.
This 1,600-square-foot duplex includes two nearly matching units, each with two primary suites. Every bedroom has a private bathroom and walk-in closet, while each unit provides two off-street parking spaces. A large exterior shed adds storage capacity.
Recent improvements include a roof installed in 2022, electrical panels replaced in 2023, a new deck completed in 2023, full-size A/C condensers for both units added in 2023, and new furnaces for each unit. The upper residence also features newer appliances and quartz countertops and is currently vacant. The lower unit is rented.
The property offers mountain views and is within a short walk of Old Colorado City. I-25, Downtown Colorado Springs, Manitou, grocery stores, shops, and parks are also nearby.
Recent improvements include a roof installed in 2022, electrical panels replaced in 2023, a new deck completed in 2023, full-size A/C condensers for both units added in 2023, and new furnaces for each unit. The upper residence also features newer appliances and quartz countertops and is currently vacant. The lower unit is rented.
The property offers mountain views and is within a short walk of Old Colorado City. I-25, Downtown Colorado Springs, Manitou, grocery stores, shops, and parks are also nearby.
Key Highlights
- 1,600‑square‑foot duplex with two nearly identical unit layouts
- Four primary suites total; every bedroom includes a bathroom and walk‑in closet
- Roof replaced in 2022; electrical panels and deck updated in 2023
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
$20,956
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
4.28%
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%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 1,600 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
$31.7K $19.80/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$29.9K $18.71/SF
− OpEx
−$9.0K −$5.61/SF
NOI
$21.0K $13.10/SF
Area
Colorado Springs, 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%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$277.4K
$242.8K – $323.7K
NOI $19,421 @ 7.0% cap · market cap 3.96%
Theoretical Best
Specialty Retail
$316.0K
$276.5K – $368.6K
NOI $22,118 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,329
Businesses Nearby
Explore this area
Business Placement
Demographics for 80904, CO
20,986
Population
11,578
Households
1.8
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
11.2 sq mi
ZIP Area
1,874
Density / Sq Mi
$69,566
Median Household Income
$44,494
Median Earnings
$1,417
Median Rent
$413,400
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 - Two similar units offer private baths, walk-in closets, and dedicated off-street parking.
Where is this duplex located?
The property is located at 2516 Glen View Avenue Colorado Springs, CO.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 1,600‑square‑foot duplex with two nearly identical unit layouts; Four primary suites total; every bedroom includes a bathroom and walk‑in closet; Roof replaced in 2022; electrical panels and deck updated in 2023
