Updated Duplex with
For Sale
$799,500
2831 Stover St, Fort Collins, CO 80525
CONDOS - Fort Collins, CO
Property Size2,600 SF
Lot Size0.17 Acres
Price / SF$307.50
Days on Market8
Property Features for 2831 Stover St
General Information
Property type
Residential
Property subtype
Duplex
Zoning
RL
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 6, Bedroom 5, Basement, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 1, Bedroom 2, Dining Room, Bathroom 2, Bedroom 3, Bathroom 5, Bedroom 6
Parking
2
Parking features
Open
Window features
Window Coverings
Patio and Porch features
Patio
Interior features
Separate Dining Room, Natural Woodwork
Exterior features
Balcony
Fireplace
1
Appliances
Electric Range, Dishwasher, Refrigerator, Washer, Dryer, Microwave, Disposal, Fire Alarm
Subdivision
Pinewood 1st
Lot features
Abuts Private Open Space, House Faces East, City Limits, Paved, Curbs, Gutters, Sidewalks
Elementary school
Odea
Middle school
Boltz
High school
Ft Collins
Elementary school district
Poudre
Middle school district
Poudre
High school district
Poudre
Directions
From Drake and Timberline in Fort Collins- Go West on Drake to Stover, go South on Stover to the property on the right.
Standard status
Active
APN
R0682632
Size
2,600 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4409
HOA Fee
$800 Annually
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Ceiling Fan(s)
Building Details
Year built
1978
Floors in Building
2
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
Elevations Real Estate, LLC
(970) 535-2000
Listed By:
Stephanie Steward
(970) 227-6656
Added: Aug 4
Last Checked: Aug 11 at 7:06PM
MLS# 1065715
Copyright © 2026 IRES 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 2,600-square-foot duplex contains two residences, each with 3 bedrooms and 3 bathrooms. Both units include an attached 300-square-foot garage, additional open parking, a fireplace, a primary suite with private balcony, and a bonus room suitable for office, studio, plant room, or storage use. Interior features include separate dining areas and natural woodwork.
Recent work includes new interior and exterior paint, flooring, water heaters, kitchen appliances, countertops, hardware, plumbing fixtures, and selected windows, screens, and doors. The roof was replaced in 2015, and upper-level decks received code upgrades. The property occupies 0.17 acres and is located at 2831 Stover St in Fort Collins, backing to a greenbelt. Built in 1978, it also includes public sewer service, baseboard heating, ceiling fans, composition roofing, and cable availability.
Recent work includes new interior and exterior paint, flooring, water heaters, kitchen appliances, countertops, hardware, plumbing fixtures, and selected windows, screens, and doors. The roof was replaced in 2015, and upper-level decks received code upgrades. The property occupies 0.17 acres and is located at 2831 Stover St in Fort Collins, backing to a greenbelt. Built in 1978, it also includes public sewer service, baseboard heating, ceiling fans, composition roofing, and cable availability.
Key Highlights
- Duplex with 2,600 square feet across two 3‑bedroom, 3‑bath residences
- Each unit includes a 300‑square‑foot attached garage and additional open parking
- Primary suites feature private balconies; upper‑level decks received code upgrades
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
$34,783
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
4.35%
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%
$695,660
$695.7K
Cap Rate 7%
$496,900
$496.9K
Cap Rate 9%
$386,478
$386.5K
Market Conditions
NOI Build-Up for 2,600 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
$52.4K $20.16/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$49.7K $19.11/SF
− OpEx
−$14.9K −$5.73/SF
NOI
$34.8K $13.38/SF
Area
Fort Collins, CO
Vacancy
5.20%
Lease Rate
$20.16 /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%
$695,660
Cap Rate 7%
$496,900
Cap Rate 9%
$386,478
Alternative Uses
Best Use
Multifamily LT 5
$496.9K
$434.8K – $579.7K
NOI $34,783 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$461.1K
$403.5K – $538.0K
NOI $32,278 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$677.0K
$592.4K – $789.9K
NOI $47,393 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 80525, CO
55,901
Population
25,144
Households
2.2
Avg Household Size
37
Median Age
59%
College-Educated
98%
High-School Grad
23.4 sq mi
ZIP Area
2,389
Density / Sq Mi
$93,349
Median Household Income
$48,876
Median Earnings
$1,744
Median Rent
$563,100
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 - Two three-bedroom residences feature private balconies, oversized attached garages, fireplaces, and extensive recent improvements.
Where is this duplex located?
The property is located at 2831 Stover St Fort Collins, CO.
What is the asking price?
The asking price for this property is $799,500.
What are key features of this property?
This property features: Duplex with 2,600 square feet across two 3‑bedroom, 3‑bath residences; Each unit includes a 300‑square‑foot attached garage and additional open parking; Primary suites feature private balconies; upper‑level decks received code upgrades
