Multifamily Property with Three Living
For Sale
$999,000
629 Stover St, Fort Collins, CO 80524
Residential Income, Fort Collins, CO
Property Size2,772 SF
Lot Size0.31 Acres
Price / SF$360.39
Days on Market94
Property Features for 629 Stover St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NCM
Bedrooms
7
Bathrooms
7
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bathroom 4, Basement, Bedroom 1, Bathroom 3, Bathroom 6, Bathroom 1, Bedroom 4, Bedroom 7, Bathroom 2, Bathroom 7, Bedroom 6, Bedroom 2, Bathroom 5
Parking
5
Parking features
Carport
Basement
Partial
Appliances
Electric Range, Refrigerator, Microwave, Disposal, Fire Alarm
Subdivision
Ftc
Elementary school
Laurel
Middle school
Lesher
High school
Ft Collins
Elementary school district
Poudre
Middle school district
Poudre
High school district
Poudre
Standard status
Active
APN
R0049441
Size
2,772 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4433
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Building Details
Year built
1936
Floors in Building
1
Number of units
6
Building materials
Frame
Roof type
Composition
Listing Agency:
C3 Real Estate Solutions, LLC
(970) 225-5152
Listed By:
Ryan Embry
(970) 286-4640
Added: Jun 2
Changed: Sep 3
Last Checked: Sep 3 at 12:06PM
MLS# 1060667
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 2,772-square-foot residential property on a 0.31-acre lot contains three separate living areas: a front residence with two bedrooms and two bathrooms, plus two rear units, each with one bedroom and one bathroom. The 1936 frame building includes forced-air heat, a composition roof, a basement, carport parking, and natural gas availability. Public sewer serves the property, and existing appliances include an electric range, refrigerator, microwave, disposal, and fire alarm.
Located at 629 Stover St in Fort Collins, the property is near Old Town and within central Fort Collins. It is zoned NCM and currently has two utility meters, with space available for a potential third. The seller has begun investigating conversion to a conforming duplex, including a possible firewall separation and city-related requirements. Any zoning, occupancy, licensing, and future development matters should be verified with the City of Fort Collins.
Located at 629 Stover St in Fort Collins, the property is near Old Town and within central Fort Collins. It is zoned NCM and currently has two utility meters, with space available for a potential third. The seller has begun investigating conversion to a conforming duplex, including a possible firewall separation and city-related requirements. Any zoning, occupancy, licensing, and future development matters should be verified with the City of Fort Collins.
Key Highlights
- Three separate living areas: 2 bed/2 bath front residence plus two 1 bed/1 bath rear units
- 2,772 SF property on 0.31 acres
- NCM zoning with multifamily conversion process under exploration
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
$34,413
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
3.44%
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%
$688,260
$688.3K
Cap Rate 7%
$491,614
$491.6K
Cap Rate 9%
$382,367
$382.4K
Market Conditions
NOI Build-Up for 2,772 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
$65.9K $23.76/SF
− Vacancy
−$3.3K −$1.19/SF
EGI
$62.6K $22.57/SF
− OpEx
−$28.2K −$10.16/SF
NOI
$34.4K $12.41/SF
Area
Fort Collins, CO
Vacancy
5.00%
Lease Rate
$23.76 /SF/Yr
Expense Ratio
45.00%
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%
$688,260
Cap Rate 7%
$491,614
Cap Rate 9%
$382,367
Alternative Uses
Best Use
Apartment 5plus
$491.6K
$430.2K – $573.6K
NOI $34,413 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$721.8K
$631.6K – $842.1K
NOI $50,528 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,579
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three separate living areas support owner occupancy, rental use, or further multifamily conversion subject to approval.
Where is this multifamily property located?
The property is located at 629 Stover St Fort Collins, CO.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three separate living areas: 2 bed/2 bath front residence plus two 1 bed/1 bath rear units; 2,772 SF property on 0.31 acres; NCM zoning with multifamily conversion process under exploration
