Duplex with Flexible Living
For Sale
$615,000
2613 Flintridge Drive, Colorado Springs, CO 80918
Two connected living areas provide separate kitchens, laundry facilities, and room for multigenerational household needs.
Property Size2,170 SF
Price / SF$283.41
Days on Market9
Property Features for 2613 Flintridge Drive
General Information
Standard status
Active
Size
2,170 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,882
Building Details
Year Built
1974
Buildings
1
Listing Agency:
Keller Williams Clients Choice Realty
(719) 535-0355
Listed By:
Shannon Davis
(719) 359-0030
Source:
Exitrealty
Added: Aug 29
Changed: Sep 5
Last Checked: Sep 5 at 5:06AM
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 Keller Williams Clients Choice Realty
Investment Insights
Based on property information with market context.
This duplex property combines a three-bedroom, two-bath main residence with attached additional living quarters. The primary home offers an open arrangement linking the kitchen, dining area, and living room, along with newer flooring, new carpet, and natural light. A new refrigerator and included washer and dryer add practical convenience.
The secondary living area includes its own kitchen, laundry, living room, bedroom, non-conforming bedroom, full bathroom, and additional half bathroom. The configuration supports separate household spaces within one connected property. Outside, the home sits on a nearly half-acre lot with mature trees and a large backyard. An oversized two-car garage provides parking and storage. Built in 1974, the property also includes a seller-provided home warranty.
The secondary living area includes its own kitchen, laundry, living room, bedroom, non-conforming bedroom, full bathroom, and additional half bathroom. The configuration supports separate household spaces within one connected property. Outside, the home sits on a nearly half-acre lot with mature trees and a large backyard. An oversized two-car garage provides parking and storage. Built in 1974, the property also includes a seller-provided home warranty.
Key Highlights
- Main residence includes 3 bedrooms and 2 bathrooms
- Attached quarters feature a separate kitchen, laundry, living area, bedroom, and non‑conforming bedroom
- Secondary quarters include 1 full bathroom and 1 additional half bathroom
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
$28,512
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
4.64%
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%
$570,240
$570.2K
Cap Rate 7%
$407,314
$407.3K
Cap Rate 9%
$316,800
$316.8K
Market Conditions
NOI Build-Up for 2,170 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
$43.0K $19.80/SF
− Vacancy
−$2.2K −$1.03/SF
EGI
$40.7K $18.77/SF
− OpEx
−$12.2K −$5.63/SF
NOI
$28.5K $13.14/SF
Area
ZIP 80918
Vacancy
5.20%
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%
$570,240
Cap Rate 7%
$407,314
Cap Rate 9%
$316,800
Alternative Uses
Best Use
Multifamily LT 5
$407.3K
$356.4K – $475.2K
NOI $28,512 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$377.1K
$329.9K – $439.9K
NOI $26,395 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$554.6K
$485.3K – $647.1K
NOI $38,824 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 80918, CO
47,453
Population
20,447
Households
2.3
Avg Household Size
37
Median Age
38%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
3,954
Density / Sq Mi
$82,743
Median Household Income
$42,596
Median Earnings
$1,572
Median Rent
$414,400
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 connected living areas provide separate kitchens, laundry facilities, and room for multigenerational household needs.
Where is this duplex located?
The property is located at 2613 Flintridge Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Main residence includes 3 bedrooms and 2 bathrooms; Attached quarters feature a separate kitchen, laundry, living area, bedroom, and non‑conforming bedroom; Secondary quarters include 1 full bathroom and 1 additional half bathroom
