Side-by-Side Duplex with
New
For Sale
$650,000
414-416 Mathews Street, Fort Collins, CO 80524
Two residential units feature private porches, in-unit laundry, new furnaces, and access to covered and off-street parking.
Property Size1,604 SF
Days on Market2
Property Features for 414-416 Mathews Street
General Information
Standard status
Active
Size
1,604 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
NCB
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,067
Amenities
washer/dryer
three-season porch
Building Details
Building Size
1,604 SF
Year Built
1961
Buildings
1
Stories
1
Units
2
Listing Agency:
Group Mulberry
(970) 690-7155
Listed By:
Matt Nesbitt
(970) 690-7155
Source:
Coloradopartners
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 8:06AM
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 Group Mulberry
Investment Insights
Based on property information with market context.
This side-by-side duplex, built in 1961, contains two residential units with a matching layout of 2 bedrooms and 1 full bath per unit. Each residence includes a washer and dryer, a three-season porch, and a new furnace. Covered carport parking, additional off-street parking, and alley access support day-to-day convenience. The property is zoned NCB.
Both units are currently leased through July 2027. The duplex is located in Old Town Fort Collins, within a short distance of Old Town Square and Colorado State University.
Both units are currently leased through July 2027. The duplex is located in Old Town Fort Collins, within a short distance of Old Town Square and Colorado State University.
Key Highlights
- Side‑by‑side duplex with 2 bedrooms and 1 full bath in each unit
- Each unit includes a washer and dryer, three‑season porch, and new furnace
- Covered carport parking, additional off‑street parking, and alley access
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
$21,459
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
3.30%
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%
$429,180
$429.2K
Cap Rate 7%
$306,557
$306.6K
Cap Rate 9%
$238,433
$238.4K
Market Conditions
NOI Build-Up for 1,604 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
$32.3K $20.16/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$30.7K $19.11/SF
− OpEx
−$9.2K −$5.73/SF
NOI
$21.5K $13.38/SF
Area
Fort Collins, CO
Vacancy
5.20%
Lease Rate
$20.16 /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%
$429,180
Cap Rate 7%
$306,557
Cap Rate 9%
$238,433
Alternative Uses
Best Use
Multifamily LT 5
$306.6K
$268.2K – $357.7K
NOI $21,459 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$284.5K
$248.9K – $331.9K
NOI $19,913 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$417.7K
$365.5K – $487.3K
NOI $29,238 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 80524, CO
39,030
Population
17,548
Households
2.2
Avg Household Size
37
Median Age
52%
College-Educated
94%
High-School Grad
122.7 sq mi
ZIP Area
318
Density / Sq Mi
$84,440
Median Household Income
$45,046
Median Earnings
$1,623
Median Rent
$527,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature private porches, in-unit laundry, new furnaces, and access to covered and off-street parking.
Where is this duplex located?
The property is located at 414-416 Mathews Street Fort Collins, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 2 bedrooms and 1 full bath in each unit; Each unit includes a washer and dryer, three‑season porch, and new furnace; Covered carport parking, additional off‑street parking, and alley access
