Two-Unit Duplex with
For Sale
$615,000
3614 Butternut Dr, Loveland, CO 80538
Each residence has a covered patio and one-car garage, plus access to a shared irrigated backyard.
Property Size1,859 SF
Price / SF$330.82
Days on Market25
Property Features for 3614 Butternut Dr
General Information
Standard status
Active
Size
1,859 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Amenities
covered patio
shared backyard
irrigation system
Building Details
Year Built
1971
Buildings
1
Listing Agency:
NoCo Flex Real Estate
Listed By:
Ian Johnston
(970) 237-4749
Source:
Nocoflex
Added: Oct 7
Changed: Oct 30
Last Checked: Oct 30 at 1:51AM
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 NoCo Flex Real Estate
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Investment Insights
Based on property information with market context.
This 1,859-square-foot duplex, built in 1971, contains two-bedroom, one-bath residences, each with a one-car garage and covered patio. One unit is vacant and undergoing updates. At 3614, kitchen and bathroom improvements are in place, along with appliances installed in 2024. Work at 3616 includes kitchen flooring, cabinets and countertops, as well as vinyl plank flooring; its bathroom has been updated. A water heater was replaced last year.
Building improvements include two furnaces installed in 2023, a replacement roof completed in 2018, and a new sewer line connecting the duplex to the main in the backyard. Tree trimming was also completed last year. The residents share a backyard with an irrigation system.
Building improvements include two furnaces installed in 2023, a replacement roof completed in 2018, and a new sewer line connecting the duplex to the main in the backyard. Tree trimming was also completed last year. The residents share a backyard with an irrigation system.
Key Highlights
- Two‑bedroom, one‑bath layout in each residence
- One‑car garage and covered patio at each unit
- 1,859 square feet; built in 1971
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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,305
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a covered patio and one-car garage, plus access to a shared irrigated backyard.
Where is this duplex located?
The property is located at 3614 Butternut Dr 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‑bedroom, one‑bath layout in each residence; One‑car garage and covered patio at each unit; 1,859 square feet; built in 1971
