Two-Unit Duplex with
New
For Sale
$615,000
3614 Butternut Dr, Loveland, CO 80538
Residential Income, Loveland, CO
Property Size1,859 SF
Lot Size0.20 Acres
Price / SF$330.82
Days on Market7
Property Features for 3614 Butternut Dr
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3E
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 1, Basement, Bedroom 1, Bedroom 4
Window features
Window Coverings
Patio and Porch features
Patio
Interior features
Washer/Dryer Hookup
Exterior features
Sprinkler System
Fencing
Fenced, Chain Link
Basement
Crawl Space
Appliances
Electric Range, Dishwasher, Refrigerator, Microwave
Subdivision
Sunset Acres
Lot features
Level, House/ Lot Faces N E, Paved, Curbs, Gutters, Sidewalks, Fire Hydrant within 500 Feet
Elementary school
Lincoln
Middle school
Erwin, Lucile
High school
Loveland
Elementary school district
Thompson R2-J
Middle school district
Thompson R2-J
High school district
Thompson R2-J
Directions
Driving on 37th from 287 turn South on Sheridan Ave and turn left (East) on Butternut.Duplex is on the left.ORDriving West on 33rd from 287 turn Right (North) on Sheridan Ave.Take the first right on Butternut Dr, and the duplex will be on the right.
Standard status
Active
APN
R0349054
Size
1,859 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5257
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
covered patio
irrigation system
Building Details
Year built
1971
Floors in Building
1
Number of units
2
Building materials
Frame
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Real
(720) 807-2890
Listed By:
Nanci Garnand · License #40002714
(970) 227-1327
Added: Oct 1
Changed: Oct 7
Last Checked: Oct 7 at 7:06AM
MLS# 1069780
Copyright © 2026 IRES MLS. 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 1,859-square-foot duplex, built in 1971, contains two residences with two bedrooms, one bathroom, and a one-car garage apiece. One unit is vacant and in the process of being updated. Improvements to the units include refreshed kitchens and bathrooms, new appliances in one residence, and vinyl plank flooring in the other. Both homes have covered patios, and the property includes a shared fenced backyard with an irrigation system.
Capital work includes two furnaces installed in 2023, a replacement roof from 2018, and a new sewer line connecting the building to the main in the backyard. The parcel spans 0.2 acres and is zoned R3E. Public water and sewer serve the property.
Capital work includes two furnaces installed in 2023, a replacement roof from 2018, and a new sewer line connecting the building to the main in the backyard. The parcel spans 0.2 acres and is zoned R3E. Public water and sewer serve the property.
Key Highlights
- Two units, each with 2 bedrooms, 1 bathroom, and a one‑car garage
- 1,859 square feet on a 0.2‑acre parcel
- One residence is vacant and undergoing updates
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
50%
Occupancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, a covered patio, and separate one-car garage.
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 units, each with 2 bedrooms, 1 bathroom, and a one‑car garage; 1,859 square feet on a 0.2‑acre parcel; One residence is vacant and undergoing updates
