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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Residential income homes
1648 Pitkin St Fort Collins, CO 80524-4335
Individually Owned
4-yr Hold
Property ID
US13-1319245
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1979
Construction
FRAME
Total area
1,888 SF
Lot
0.29 ac (12,632 SF)
APN
87184-10-008
UPID
US13-1319245
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$787k
Blend (final)
Blend
$925k
Owner & transaction history
Lucas Borg · 4 yrs held
Lucas Borg
since 2022
Last sale
$965,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$645,000
+3.2%
Retail stores
$625,000
+0.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Collins submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Collins submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$890,000
ML approach
$1,015,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$625,000
Current use
MEDICAL BUILDING
$645,000
Change: +3% · Conversion: Moderate
RETAIL STORES
$625,000
Change: +1% · Conversion: Difficult
OFFICE BUILDING
$595,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±10% · vs last sale $965k (May 20 2022)
Last sale anchor
$965k
May 20 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$490 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,462
Tax year 2023
Assessed value
$63,516
Assessed 2023
Previous assessed
$63,516
+0.0% YoY
Effective rate
8.60%
On assessed value
Assessed land
$13,400
Assessed improvement
$50,116
Land market value
$200,000
Improvement market value
$748,000
Total market value
$948,000
Applied tax rate
1,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1979
Construction
FRAME
Heating
FORCED AIR
Stories
2
Units
4
Rooms
16
Bathrooms
8
Total area
1,888 SF
Lot
0.29 ac (12,632 SF)
APN
87184-10-008
UPID
US13-1319245
Jurisdiction
LARIMER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$625,000
MEDICAL BUILDING
Est. value
$645,000
RETAIL STORES
Est. value
$625,000
OFFICE BUILDING
Est. value
$595,000
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1979
Construction
FRAME
Heating
FORCED AIR
Stories
2
Units
4
Rooms
16
Bathrooms
8
Lot
0.29 ac
Current owner
From public records · entity-resolved
Lucas Borg
Individual
Mailing address
802 W PERSHING BLVD, CHEYENNE, WY 82001-2556
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2022
$965,000
Lucas Borg
Renaissance Development Co Fund I L
Warranty Deed
$987,195 · Bison State Bank
Mar 30, 2018
$515,000
Renaissance Development Company Fun
Housing Authority Of The City Of Fo
Warranty Deed
$386,250 · Anb Bank
Sep 28, 2017
—
Housing Authority Of City & Ft Coll
—
Grant Deed
related
$8,000,000 · Firstbank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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