Two-Story Duplex with Private
For Sale
$699,900
3140 Snake River Drive, Grand Junction, CO 81504
Residential, Grand Junction, CO
Property Size3,025 SF
Lot Size0.18 Acres
Price / SF$231.37
Days on Market69
Property Features for 3140 Snake River Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RM - 8
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bathroom 2, Bathroom 4, Bathroom 5, Bathroom 6, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 6, Bedroom 1, Bathroom 3
Parking features
Open
Patio and Porch features
Patio
Exterior features
SprinklerIrrigation
Appliances
Dishwasher, Disposal, Microwave, Refrigerator
Subdivision
Riverbend Townhomes
Lot features
Corner Lot, Landscaped
Elementary school
Pear Park
Middle school
Grand Mesa
High school
Central
Directions
30 Road to D Road East on D Road to Green River Drive South on Green River Drive to Snake River Drive South West Corner of Green River and Snake River is the property
Standard status
Active
APN
2943-222-22-013
Size
3,025 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1213
HOA Fee
$462 Monthly
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2017
Floors in Building
2
Number of units
2
Flooring type
Carpet
Building materials
Masonite, WoodFrame
Roof type
Asphalt, Composition
Architectural style
Other
Listing Agency:
HANSEN & ASSOC
(970) 243-3376
Listed By:
Denese Hansen
(970) 260-9907
Added: Jun 24
Changed: Aug 30
Last Checked: Aug 31 at 7:06AM
MLS# 20263487
Copyright © 2026 Grand Junction Area Association of Realtors. 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 two-story duplex in the Riverbend townhome subdivision combines townhouse construction with the scale and privacy of a residential investment property. The building contains 3,025 square feet on a 0.18-acre lot and was built in 2017. Each side is identified by its own tax parcel, allowing the owner to sell the sides together or separately.
Interior features include open, functional living areas, contemporary finishes, forced-air heating, central air conditioning, carpeted floors, and kitchens equipped with dishwashers, disposals, microwaves, and refrigerators. Outdoor improvements include private backyard space, patios, open parking, and sprinkler irrigation. Masonite and wood-frame construction, along with composition and asphalt roofing, complete the property’s physical profile. Public water serves the duplex.
Interior features include open, functional living areas, contemporary finishes, forced-air heating, central air conditioning, carpeted floors, and kitchens equipped with dishwashers, disposals, microwaves, and refrigerators. Outdoor improvements include private backyard space, patios, open parking, and sprinkler irrigation. Masonite and wood-frame construction, along with composition and asphalt roofing, complete the property’s physical profile. Public water serves the duplex.
Key Highlights
- Two‑story duplex built in 2017
- 3,025 square feet on a 0.18‑acre lot
- Each side is on its own tax parcel
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
$30,085
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
4.30%
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%
$601,700
$601.7K
Cap Rate 7%
$429,786
$429.8K
Cap Rate 9%
$334,278
$334.3K
Market Conditions
NOI Build-Up for 3,025 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
$46.5K $15.36/SF
− Vacancy
−$3.5K −$1.15/SF
EGI
$43.0K $14.21/SF
− OpEx
−$12.9K −$4.26/SF
NOI
$30.1K $9.95/SF
Area
Mesa County, CO
Vacancy
7.50%
Lease Rate
$15.36 /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%
$601,700
Cap Rate 7%
$429,786
Cap Rate 9%
$334,278
Alternative Uses
Best Use
Multifamily LT 5
$429.8K
$376.1K – $501.4K
NOI $30,085 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$394.7K
$345.3K – $460.5K
NOI $27,627 @ 7.0% cap · market cap 3.95%
Theoretical Best
Healthcare Medical
$5.74M
$5.02M – $6.70M
NOI $401,841 @ 7.0% cap · market cap 57.41%
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
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 81504, CO
31,150
Population
13,042
Households
2.4
Avg Household Size
38
Median Age
21%
College-Educated
91%
High-School Grad
26.9 sq mi
ZIP Area
1,158
Density / Sq Mi
$67,907
Median Household Income
$40,402
Median Earnings
$1,414
Median Rent
$290,300
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 - Modern townhouse-style residences include open layouts, patios, central air, and public water service.
Where is this duplex located?
The property is located at 3140 Snake River Drive Grand Junction, CO.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two‑story duplex built in 2017; 3,025 square feet on a 0.18‑acre lot; Each side is on its own tax parcel
