Modular Residential Income
For Sale
$274,500
Pending
321 N 31st Ave, Greeley, CO 80631
The three-bedroom, two-bath home includes a private primary suite and HOA-managed exterior upkeep.
Property Size1,512 SF
Days on Market139
Property Features for 321 N 31st Ave
General Information
Standard status
Pending
Size
1,512 SF
Property subtype
Mixed Use
Units
Unit Mix
3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,400
Amenities
storage shed
garden tub
Building Details
Building Size
1,512 SF
Year Built
2003
Construction
modular
Listing Agency:
Better Realty
Listed By:
Carey McGrath · License #100030108
(970) 397-3775
Source:
Northstar
Added: Jun 19
Changed: Nov 3
Last Checked: Nov 3 at 8:36AM
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 Better Realty
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Investment Insights
Based on property information with market context.
Built in 2003, this 1,512-square-foot modular patio home has three bedrooms and two bathrooms. Its kitchen connects with the living and dining areas, while the primary bedroom has an ensuite bathroom with a garden tub. A storage shed is also included.
The HOA handles exterior maintenance, lawn care, trash service, and snow removal. Homeowners may install a fence, subject to HOA rules.
The HOA handles exterior maintenance, lawn care, trash service, and snow removal. Homeowners may install a fence, subject to HOA rules.
Key Highlights
- 1,512‑square‑foot modular patio home built in 2003
- Three bedrooms and two bathrooms
- Open kitchen connected to living and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,981
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,620
$319.6K
Cap Rate 7%
$228,300
$228.3K
Cap Rate 9%
$177,567
$177.6K
Market Conditions
NOI Build-Up for 1,512 SF
Gross rent
$30.8K $20.40/SF
− Vacancy
−$1.8K −$1.18/SF
EGI
$29.1K $19.22/SF
− OpEx
−$13.1K −$8.65/SF
NOI
$16.0K $10.57/SF
Area
Greeley, CO
Vacancy
5.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,620
Cap Rate 7%
$228,300
Cap Rate 9%
$177,567
Alternative Uses
Best Use
Apartment 5plus
$228.3K
$199.8K – $266.4K
NOI $15,981 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$275.6K
$241.1K – $321.5K
NOI $19,289 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The three-bedroom, two-bath home includes a private primary suite and HOA-managed exterior upkeep.
Where is this residential income property located?
The property is located at 321 N 31st Ave Greeley, CO.
What is the asking price?
The asking price for this property is $274,500.
What are key features of this property?
This property features: 1,512‑square‑foot modular patio home built in 2003; Three bedrooms and two bathrooms; Open kitchen connected to living and dining areas
