Renovated Triplex with
For Sale
$360,000
929 5th St, Greeley, CO 80631
Three-unit property with a private-entry lower-level residence, detached garage, and off-street parking.
Property Size2,470 SF
Lot Size0.22 Acres
Price / SF$145.75
Days on Market11
Property Features for 929 5th St
General Information
Standard status
Active
Size
2,470 SF
Total Parking Spaces
4
Lot size
0.22 Acres
Property subtype
Investment
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,412
Building Details
Year Built
1903
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
Rocky Mountain Real Estate Inc
Listed By:
Carrie Hill · License #7861538
(303) 530-0132
Source:
Elliman
Added: Sep 16
Last Checked: Sep 24 at 1:42PM
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 Rocky Mountain Real Estate Inc
Investment Insights
Based on property information with market context.
Built in 1903, this renovated triplex contains three units and 2,470 finished square feet on a 9,500-square-foot corner lot in central Greeley. The main-floor residence offers two bedrooms, a full bathroom, hardwood floors, and original woodwork. The upper unit occupies the entire floor and includes one bedroom and one full bathroom. A one-bedroom, one-bath lower-level unit features tile flooring and a private entrance. Two units are leased through 2027, while the third is open for occupancy or leasing.
Recent property work includes a roof installed in 2025, replacement windows from 2024, and new furnaces in two units. Exterior features include a detached two-car garage, two off-street parking spaces, a patio, and a partially fenced yard. The property is located at 929 5th St in Greeley, with a Walk Score of 76 and Bike Score of 58. Buyer to verify intended uses and property information with the City of Greeley.
Recent property work includes a roof installed in 2025, replacement windows from 2024, and new furnaces in two units. Exterior features include a detached two-car garage, two off-street parking spaces, a patio, and a partially fenced yard. The property is located at 929 5th St in Greeley, with a Walk Score of 76 and Bike Score of 58. Buyer to verify intended uses and property information with the City of Greeley.
Key Highlights
- Three‑unit 1903 triplex with 2,470 finished square feet
- 9,500‑square‑foot level corner lot in central Greeley
- Two units leased through 2027; third unit is open
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
$28,427
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
7.90%
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%
$568,540
$568.5K
Cap Rate 7%
$406,100
$406.1K
Cap Rate 9%
$315,856
$315.9K
Market Conditions
NOI Build-Up for 2,470 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
$43.0K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$40.6K $16.44/SF
− OpEx
−$12.2K −$4.93/SF
NOI
$28.4K $11.51/SF
Area
Greeley, CO
Vacancy
5.51%
Lease Rate
$17.40 /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%
$568,540
Cap Rate 7%
$406,100
Cap Rate 9%
$315,856
Alternative Uses
Best Use
Multifamily LT 5
$406.1K
$355.3K – $473.8K
NOI $28,427 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$372.9K
$326.3K – $435.1K
NOI $26,106 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office B
$450.2K
$393.9K – $525.2K
NOI $31,511 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
Explore this area
Business Placement
Demographics for 80631, CO
52,336
Population
18,871
Households
2.8
Avg Household Size
29
Median Age
18%
College-Educated
73%
High-School Grad
103.6 sq mi
ZIP Area
505
Density / Sq Mi
$52,470
Median Household Income
$33,062
Median Earnings
$1,209
Median Rent
$300,400
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?
Triplex - Three-unit property with a private-entry lower-level residence, detached garage, and off-street parking.
Where is this triplex located?
The property is located at 929 5th St Greeley, CO.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Three‑unit 1903 triplex with 2,470 finished square feet; 9,500‑square‑foot level corner lot in central Greeley; Two units leased through 2027; third unit is open
