Two-Unit Duplex with Covered
3614-3616 Butternut Drive, Loveland, CO 80538
For Sale
$615,000
One residence is vacant and undergoing updates, while the other has renovated kitchen and bathroom areas.
Property Size1,859 SF
Price / SF$330.82
Days on Market40
Property Features for 3614-3616 Butternut Drive
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
covered patio
shared backyard
irrigation system
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Real Broker, LLC DBA Real
(720) 807-2890
Listed By:
Nanci Garnand · License CO #40002714
(970) 227-1327
Source:
Kbranchandhome
Added: Oct 7
Changed: Nov 15
Last Checked: Nov 14 at 10:16PM
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 Real Broker, LLC DBA Real
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Investment Insights
Based on property information with market context.
This 1,859-square-foot duplex, built in 1971, contains two units, each with two bedrooms, one bathroom, and a one-car garage. Both sides have covered patios. The shared backyard includes an irrigation system.
Interior work includes updated kitchen and bathroom areas and new appliances in unit 3614. Unit 3616 is being updated with kitchen flooring, cabinets, and vinyl plank flooring; its bathroom has been renovated, and its water heater was replaced in 2024. One unit is vacant and being updated.
Property improvements include two furnaces installed in 2023, a sewer line replacement between the duplex and the main in the backyard, and a roof replacement in 2018. Tree trimming was completed in 2024. The property is zoned R3E.
Interior work includes updated kitchen and bathroom areas and new appliances in unit 3614. Unit 3616 is being updated with kitchen flooring, cabinets, and vinyl plank flooring; its bathroom has been renovated, and its water heater was replaced in 2024. One unit is vacant and being updated.
Property improvements include two furnaces installed in 2023, a sewer line replacement between the duplex and the main in the backyard, and a roof replacement in 2018. Tree trimming was completed in 2024. The property is zoned R3E.
Key Highlights
- Two units, each with 2 bedrooms, 1 bathroom and a 1‑car garage
- 1,859 square feet; built in 1971
- Unit 3614 has updated kitchen and bathroom areas and new appliances from 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,134
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,680
$382.7K
Cap Rate 7%
$273,343
$273.3K
Cap Rate 9%
$212,600
$212.6K
Market Conditions
NOI Build-Up for 1,859 SF
Gross rent
$28.6K $15.36/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$27.3K $14.70/SF
− OpEx
−$8.2K −$4.41/SF
NOI
$19.1K $10.29/SF
Area
Larimer County, CO
Vacancy
4.27%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,680
Cap Rate 7%
$273,343
Cap Rate 9%
$212,600
Alternative Uses
Best Use
Multifamily LT 5
$273.3K
$239.2K – $318.9K
NOI $19,134 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$252.8K
$221.2K – $294.9K
NOI $17,693 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$499.0K
$436.6K – $582.2K
NOI $34,929 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,305
Businesses Nearby
Explore this area
Business Placement
Demographics for 80538, CO
49,084
Population
21,923
Households
2.2
Avg Household Size
43
Median Age
42%
College-Educated
96%
High-School Grad
102.2 sq mi
ZIP Area
480
Density / Sq Mi
$85,057
Median Household Income
$49,074
Median Earnings
$1,730
Median Rent
$472,200
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Loveland, CO
Properties on Market for Duplexes in Loveland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant and undergoing updates, while the other has renovated kitchen and bathroom areas.
Where is this duplex located?
The property is located at 3614-3616 Butternut Drive Loveland, CO.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms, 1 bathroom and a 1‑car garage; 1,859 square feet; built in 1971; Unit 3614 has updated kitchen and bathroom areas and new appliances from 2024
