Two-Home Duplex
For Sale
$320,000
302 12th Ave, Greeley, CO 80631
Residential Income, Greeley, CO
Property Size1,838 SF
Lot Size0.13 Acres
Price / SF$174.10
Days on Market10
Property Features for 302 12th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 2, Basement
Window features
Window Coverings
Interior features
Eat-in Kitchen
Basement
Unfinished
Appliances
Electric Range, Gas Range, Dishwasher, Refrigerator, Washer, Dryer, Microwave
Subdivision
Greeley City
Elementary school
Billie Martinez
Middle school
Franklin
High school
Northridge
Elementary school district
Greeley 6
Middle school district
Greeley 6
High school district
Greeley 6
Standard status
Active
APN
R2876186
Size
1,838 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1923
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Building Details
Year built
1878
Floors in Building
2
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
RE/MAX Alliance-Windsor · RE/MAX International
(970) 593-0999
Listed By:
Suzanne Ekeler · License #100078660
(970) 590-4841
Added: Sep 3
Changed: Sep 11
Last Checked: Sep 12 at 6:06AM
MLS# 1067921
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 duplex property includes two separate frame residences totaling 1,838 square feet on a 0.13-acre parcel. The larger front home contains 1,262 square feet across two stories, with three bedrooms and two bathrooms. The rear residence adds approximately 576 square feet, one bedroom, and one bathroom. The combined configuration provides four bedrooms and three bathrooms, with both homes included in a single sale and not available for separate conveyance.
The rear home is occupied under a lease extending through 2027. Residents of the front home are scheduled to leave at the end of November, creating a change in occupancy for that residence. Property features include forced-air heating, an eat-in kitchen, a basement, a composition roof, public sewer, and natural gas availability. The homes were built in 1878 and are located in Greeley, Colorado.
The rear home is occupied under a lease extending through 2027. Residents of the front home are scheduled to leave at the end of November, creating a change in occupancy for that residence. Property features include forced-air heating, an eat-in kitchen, a basement, a composition roof, public sewer, and natural gas availability. The homes were built in 1878 and are located in Greeley, Colorado.
Key Highlights
- Two separate residences totaling 1,838 square feet on 0.13 acres
- Front home measures 1,262 square feet with 3 bedrooms and 2 bathrooms
- Rear residence includes approximately 576 square feet, 1 bedroom, and 1 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
$21,153
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
6.61%
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%
$423,060
$423.1K
Cap Rate 7%
$302,186
$302.2K
Cap Rate 9%
$235,033
$235.0K
Market Conditions
NOI Build-Up for 1,838 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
$32.0K $17.40/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$30.2K $16.44/SF
− OpEx
−$9.1K −$4.93/SF
NOI
$21.2K $11.51/SF
Area
Greeley, CO
Vacancy
5.51%
Lease Rate
$17.40 /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%
$423,060
Cap Rate 7%
$302,186
Cap Rate 9%
$235,033
Alternative Uses
Best Use
Multifamily LT 5
$302.2K
$264.4K – $352.6K
NOI $21,153 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$277.5K
$242.8K – $323.8K
NOI $19,426 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office B
$335.0K
$293.1K – $390.8K
NOI $23,448 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,200
Businesses Nearby
Explore this area
Business Placement
Demographics for 80631, CO
52,336
Population
18,871
Households
2.8
Avg Household Size
29
Median Age
18%
College-Educated
73%
High-School Grad
103.6 sq mi
ZIP Area
505
Density / Sq Mi
$52,470
Median Household Income
$33,062
Median Earnings
$1,209
Median Rent
$300,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate residences share one legal description, with one home leased through 2027 and the other offering future occupancy flexibility.
Where is this duplex located?
The property is located at 302 12th Ave Greeley, CO.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two separate residences totaling 1,838 square feet on 0.13 acres; Front home measures 1,262 square feet with 3 bedrooms and 2 bathrooms; Rear residence includes approximately 576 square feet, 1 bedroom, and 1 bathroom
