Remodeled Duplex with New
For Sale
$495,000
3738 Roosevelt Ave, Wellington, CO 80549
Residential Income, Wellington, CO
Property Size1,904 SF
Lot Size0.15 Acres
Price / SF$259.98
Days on Market94
Property Features for 3738 Roosevelt Ave
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
R4
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bedroom 4, Basement, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3
Parking
4
Window features
Window Coverings
Interior features
Eat-in Kitchen, Walk-In Closet(s)
Fencing
Fenced
Basement
Partially Finished, Full
Appliances
Electric Range, Dishwasher, Refrigerator, Washer, Dryer
Subdivision
Wellington
Elementary school
Rice
Middle school
Wellington
High school
Wellington
Elementary school district
Poudre
Middle school district
Poudre
High school district
Poudre
Directions
West Cleveland Avenue to 2nd Street; south to Roosevelt Avenue, east to property
Standard status
Active
APN
R1397613
Size
1,904 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2509
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air, Baseboard
Cooling system
Central Air
Building Details
Year built
1935
Floors in Building
1
Number of units
2
Building materials
Frame
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
RE/MAX Alliance-FTC South · RE/MAX International
(970) 226-3990
Listed By:
Will Harper
(970) 222-2890
Added: Jun 4
Changed: Sep 2
Last Checked: Sep 5 at 4:06AM
MLS# 1061069
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 two-unit residential property contains 1,904 square feet on a 0.15-acre lot in Wellington. Built in 1935, the home was relocated and substantially rebuilt, with the interior remodeled to create two living units. Interior features include eat-in kitchens and walk-in closets, while each unit is supported by listed appliances including ranges, dishwashers, refrigerators, washers, and dryers. Heating includes baseboard and forced air, with central air conditioning.
A Class 4 hail-resistant composition roof and new exterior paint were completed in 2025. The units have been consistently rented, and the property is zoned R4. Additional physical features include a fenced lot, public sewer, and natural gas availability.
A Class 4 hail-resistant composition roof and new exterior paint were completed in 2025. The units have been consistently rented, and the property is zoned R4. Additional physical features include a fenced lot, public sewer, and natural gas availability.
Key Highlights
- Two residential units within 1,904 square feet
- 0.15‑acre fenced lot in Wellington, CO
- Class 4 hail‑resistant roof installed in 2025
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
$19,598
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
3.96%
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%
$391,960
$392.0K
Cap Rate 7%
$279,971
$280.0K
Cap Rate 9%
$217,756
$217.8K
Market Conditions
NOI Build-Up for 1,904 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
$29.2K $15.36/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$28.0K $14.70/SF
− OpEx
−$8.4K −$4.41/SF
NOI
$19.6K $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 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%
$391,960
Cap Rate 7%
$279,971
Cap Rate 9%
$217,756
Alternative Uses
Best Use
Multifamily LT 5
$280.0K
$245.0K – $326.6K
NOI $19,598 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$258.9K
$226.5K – $302.0K
NOI $18,121 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$511.1K
$447.2K – $596.2K
NOI $35,774 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 80549, CO
13,530
Population
5,131
Households
2.6
Avg Household Size
34
Median Age
44%
College-Educated
97%
High-School Grad
187.1 sq mi
ZIP Area
72
Density / Sq Mi
$103,760
Median Household Income
$52,401
Median Earnings
$2,290
Median Rent
$452,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Configured for owner occupancy with the second unit leased.
Where is this duplex located?
The property is located at 3738 Roosevelt Ave Wellington, CO.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two residential units within 1,904 square feet; 0.15‑acre fenced lot in Wellington, CO; Class 4 hail‑resistant roof installed in 2025
