Two-Unit Duplex with Mountain
New
For Sale
$525,000
610 Crown Ridge Drive, Colorado Springs, CO 80904
West Colorado Springs duplex with matching two-bedroom layouts, private decks, and walk-out lower levels.
Property Size3,092 SF
Price / SF$169.79
Days on Market4
Property Features for 610 Crown Ridge Drive
General Information
Standard status
Active
Size
3,092 SF
Total Parking Spaces
4
Property subtype
Multi Family
Zoning
R2
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,015
Amenities
laundry in each unit
decks
Building Details
Year Built
1972
Buildings
1
Listing Agency:
Max Realty LLC
(719) 640-1980
Listed By:
Max Ferguson · License #100092916
(719) 640-1980
Source:
Exitrealty
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 14 at 4:21AM
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 Max Realty LLC
Investment Insights
Based on property information with market context.
Built in 1972, this duplex contains two matching residences, each with two bedrooms, two bathrooms, and a walk-out lower level. Large rear-facing windows bring views of Pikes Peak and Garden of the Gods into both units, while each primary bedroom connects to its own deck through a sliding glass door. Laundry facilities are provided within both residences, and newer vinyl windows add to the property’s updates.
The property sits on an R2 lot in west Colorado Springs, near Old Colorado City. Four off-street parking spaces serve the duplex. The lower-level configuration also provides room on both sides for a potential third bedroom addition, subject to applicable requirements.
The property sits on an R2 lot in west Colorado Springs, near Old Colorado City. Four off-street parking spaces serve the duplex. The lower-level configuration also provides room on both sides for a potential third bedroom addition, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 bathrooms in each residence
- Views of Pikes Peak and Garden of the Gods from both units
- Walk‑out lower levels provide room for potential third bedrooms
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
$40,498
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
7.71%
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%
$809,960
$810.0K
Cap Rate 7%
$578,543
$578.5K
Cap Rate 9%
$449,978
$450.0K
Market Conditions
NOI Build-Up for 3,092 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
$61.2K $19.80/SF
− Vacancy
−$3.4K −$1.09/SF
EGI
$57.9K $18.71/SF
− OpEx
−$17.4K −$5.61/SF
NOI
$40.5K $13.10/SF
Area
Colorado Springs, CO
Vacancy
5.50%
Lease Rate
$19.80 /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%
$809,960
Cap Rate 7%
$578,543
Cap Rate 9%
$449,978
Alternative Uses
Best Use
Multifamily LT 5
$578.5K
$506.2K – $675.0K
NOI $40,498 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$536.2K
$469.1K – $625.5K
NOI $37,531 @ 7.0% cap · market cap 7.15%
Theoretical Best
Specialty Retail
$610.6K
$534.3K – $712.4K
NOI $42,744 @ 7.0% cap · market cap 8.14%
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
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 80904, CO
20,986
Population
11,578
Households
1.8
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
11.2 sq mi
ZIP Area
1,874
Density / Sq Mi
$69,566
Median Household Income
$44,494
Median Earnings
$1,417
Median Rent
$413,400
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 - West Colorado Springs duplex with matching two-bedroom layouts, private decks, and walk-out lower levels.
Where is this duplex located?
The property is located at 610 Crown Ridge Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 bathrooms in each residence; Views of Pikes Peak and Garden of the Gods from both units; Walk‑out lower levels provide room for potential third bedrooms
