Multifamily Residence with Finished
New
For Sale
$500,000
908 Ridge Runner Dr, Fort Collins, CO 80524
Residential, Fort Collins, CO
Property Size2,677 SF
Lot Size0.09 Acres
Price / SF$186.78
Days on Market2
Property Features for 908 Ridge Runner Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LMN
Bedrooms
4
Bathrooms
4
Full bathrooms
1
Half bathrooms
1
Rooms
Laundry Room, Bathroom 4, Bathroom 3, Bathroom 1, Laundry Room, Dining Room, Bathroom 2, Bedroom 2, Family Room, Bedroom 3, Bedroom 1, Bedroom 4, Basement
Parking features
Open
Window features
Window Coverings
Patio and Porch features
Patio
Interior features
Separate Dining Room, Cathedral Ceiling(s), Open Floorplan, Workshop, Pantry, Walk-In Closet(s), Kitchen Island
Exterior features
Sprinkler System
Fencing
Fenced
Basement
Partially Finished, Full, Sump Pump
Appliances
Electric Range, Dishwasher, Refrigerator, Washer, Dryer, Microwave, Disposal, Fire Alarm
Subdivision
Trail Head
Lot features
Corner Lot, Deciduous Trees, Level, House Faces West, Paved, Curbs, Gutters, Sidewalks, Street Light
Elementary school
Laurel
Middle school
Lincoln
High school
Ft Collins
Elementary school district
Poudre
Middle school district
Poudre
High school district
Poudre
Standard status
Active
APN
R1632531
Size
2,677 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2965
HOA Fee
$143 Monthly
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Ceiling Fan(s)
Amenities
fully fenced backyard
private patio area
raised garden bed
tankless water heater
Building Details
Year built
2014
Floors in Building
2
Flooring type
Wood
Building materials
Frame
Roof type
Composition
Additional Structures
Workshop
Listing Agency:
Group Harmony
(970) 229-0700
Listed By:
Dawne Collier · License #40044291
(970) 412-5110
Added: Sep 11
Last Checked: Sep 12 at 7:06AM
MLS# 1068471
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 2014-built half-duplex offers 2,677 square feet across a spacious, open floor plan with hardwood flooring and abundant natural light. The main level includes dining space, a kitchen with island and pantry, and connected living areas. Upstairs, a loft provides additional flex space beside the primary suite and walk-in closet. The finished basement adds a second living room, oversized bedroom, private bath, laundry room, and storage.
Outdoor features include a fully fenced 0.09-acre lot, patio, raised garden bed, sprinkler system, and gated access. The property also includes an attached two-car garage, tankless water heater, forced-air heating, central air, ceiling fans, public sewer, and natural gas availability. LMN zoning applies.
Outdoor features include a fully fenced 0.09-acre lot, patio, raised garden bed, sprinkler system, and gated access. The property also includes an attached two-car garage, tankless water heater, forced-air heating, central air, ceiling fans, public sewer, and natural gas availability. LMN zoning applies.
Key Highlights
- 2,677‑square‑foot half‑duplex built in 2014
- Finished basement with living room, oversized bedroom, private bath, and storage
- Four bedrooms and four bathrooms identified in the room schedule
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
$33,234
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
6.65%
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%
$664,680
$664.7K
Cap Rate 7%
$474,771
$474.8K
Cap Rate 9%
$369,267
$369.3K
Market Conditions
NOI Build-Up for 2,677 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
$63.6K $23.76/SF
− Vacancy
−$3.2K −$1.19/SF
EGI
$60.4K $22.57/SF
− OpEx
−$27.2K −$10.16/SF
NOI
$33.2K $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%
$664,680
Cap Rate 7%
$474,771
Cap Rate 9%
$369,267
Alternative Uses
Best Use
Apartment 5plus
$474.8K
$415.4K – $553.9K
NOI $33,234 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$697.1K
$610.0K – $813.3K
NOI $48,796 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
74
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
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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?
Multifamily property - Half-duplex residence with flexible living areas, private outdoor space, and an attached two-car garage.
Where is this multifamily property located?
The property is located at 908 Ridge Runner Dr Fort Collins, CO.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,677‑square‑foot half‑duplex built in 2014; Finished basement with living room, oversized bedroom, private bath, and storage; Four bedrooms and four bathrooms identified in the room schedule
