Renovated Duplex with Off-Street
For Sale
$245,000
319 W Beaver Ave A B C, Fort Morgan, CO 80701
Renovated duplex in Fort Morgan with updated exterior and off-street parking, featuring an owner-occupant front option.
Property Size1,504 SF
Days on Market49
Property Features for 319 W Beaver Ave A B C
General Information
Standard status
Active
Size
1,504 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$533
Building Details
Building Size
1,504 SF
Year Built
1900
Units
3
Listing Agency:
(970) 768-1001
Listed By:
Marlin Schroeder
(970) 768-1001
Source:
Elliman
Added: Jun 25
Changed: Aug 12
Last Checked: Aug 12 at 9:47AM
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 Marlin Schroeder
Investment Insights
Based on property information with market context.
This residential income duplex includes a front unit and two additional apartments, giving flexibility for owner occupancy or full investment use. The property has been renovated throughout, including a new stucco exterior, new vinyl windows, new doors, a new roof, fresh paint, and updated quality flooring. There is also mention of an additional doorway that can be opened to connect the front apartment to the basement for expanded utility and access.
Located at 319 W Beaver Ave in Fort Morgan, CO, the property offers off-street parking. Walk and bike scores are reported at 39 each, indicating the area is more car-dependent for daily errands and transportation.
With a front unit available, an owner-occupant can live in the front while renting the two apartments to help offset ownership costs. Leasing arrangements are described as a mix of short-term and long-term tenants, supporting a straightforward operating model for buyers seeking a residential rental property with recent improvements and practical on-site parking.
Located at 319 W Beaver Ave in Fort Morgan, CO, the property offers off-street parking. Walk and bike scores are reported at 39 each, indicating the area is more car-dependent for daily errands and transportation.
With a front unit available, an owner-occupant can live in the front while renting the two apartments to help offset ownership costs. Leasing arrangements are described as a mix of short-term and long-term tenants, supporting a straightforward operating model for buyers seeking a residential rental property with recent improvements and practical on-site parking.
Key Highlights
- Renovated duplex in Fort Morgan with a front unit option for owner occupancy and two additional apartments for rent
- New stucco exterior and off‑street parking
- Updates include new vinyl windows and new doors
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
$15,096
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
6.16%
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%
$301,920
$301.9K
Cap Rate 7%
$215,657
$215.7K
Cap Rate 9%
$167,733
$167.7K
Market Conditions
NOI Build-Up for 1,504 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
$23.1K $15.36/SF
− Vacancy
−$1.5K −$1.02/SF
EGI
$21.6K $14.34/SF
− OpEx
−$6.5K −$4.30/SF
NOI
$15.1K $10.04/SF
Area
Morgan County, CO
Vacancy
6.65%
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%
$301,920
Cap Rate 7%
$215,657
Cap Rate 9%
$167,733
Alternative Uses
Best Use
Multifamily LT 5
$215.7K
$188.7K – $251.6K
NOI $15,096 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$193.9K
$169.6K – $226.2K
NOI $13,570 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$440.4K
$385.3K – $513.8K
NOI $30,826 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
966
Businesses Nearby
Explore this area
Business Placement
Demographics for 80701, CO
16,101
Population
6,575
Households
2.4
Avg Household Size
35
Median Age
19%
College-Educated
84%
High-School Grad
616.5 sq mi
ZIP Area
26
Density / Sq Mi
$72,500
Median Household Income
$41,071
Median Earnings
$1,096
Median Rent
$318,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex in Fort Morgan with updated exterior and off-street parking, featuring an owner-occupant front option.
Where is this duplex located?
The property is located at 319 W Beaver Ave A B C Fort Morgan, CO.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Renovated duplex in Fort Morgan with a front unit option for owner occupancy and two additional apartments for rent; New stucco exterior and off‑street parking; Updates include new vinyl windows and new doors
