212 W Myrtle St Fort Collins, CO 80521
University North NeighborhoodEstimated Value: $605,000
6
Beds
3
Baths
917
Sq Ft
$660/Sq Ft
Est. Value
Highlights
- No HOA
- Cottage
- Forced Air Heating System
- Dunn Elementary School Rated A-
- Cooling Available
- Level Lot
About This Home
As of May 2023Unique investment opportunity with great cash flow located one block north of CSU's Oval in the heart of Old Town. Downtown zoning affords many real estate, business, and investment options. Current 7.5% CAP rate while holding for future development on key location. Alternatively, reside in the house while rear rental units pay your loan. Or set up your street front business office with short-term rentals in the rear. Three rental units currently producing $54,940 per year with a strong history of near zero vacancy. Historically has consistent rental income regardless of economic climate. Provides good return for self-directed IRAs eligible for non-recourse loan with 40% down on appraised value of main house. The main house is a 3-bedroom 1 bath house, with two spacious mobile homes in rear 2 BD, 1BA and1BD 1BA. Alley access for all units with seven private off-street parking spaces. Excellent maintenance history provides a take-over investment with good cash flow from day one. Completed property inspections and noted repairs March 2022 and reports are available for serious buyers. No deferred maintenance here. Long term tenants would like to renew leases again in July 2023. Tenants enjoy easy access to CSU, Mason Transit, restaurants, events, and entertainment and all that Old Town Fort Collins has to offer. Serious investors only with significant down payments or cash.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,337
Year Built
- Built in 1901
Lot Details
- 8,276 Sq Ft Lot
- Level Lot
Parking
- Alley Access
Home Design
- Cottage
- Composition Roof
Interior Spaces
- 917 Sq Ft Home
- 1-Story Property
- Window Treatments
Bedrooms and Bathrooms
- 6 Bedrooms
- 3 Bathrooms
Schools
- Dunn Elementary School
- Lincoln Middle School
- Poudre High School
Utilities
- Cooling Available
- Forced Air Heating System
Listing and Financial Details
- Tenant pays for gas, electricity
- Assessor Parcel Number R0066648
Community Details
Overview
- No Home Owners Association
- 3 Units
- Harrison Subdivision
Building Details
- Gross Income $56,500
- Net Operating Income $50,663
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 8, 2008
Sold by
Larson Eileen
Bought by
College Heights Llc
Total Days on Market
39
Current Estimated Value
Purchase Details
Closed on
Jun 30, 1998
Sold by
Piira Raymond G
Bought by
Larson Eileen
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,500
Interest Rate
7.13%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Jul 1, 1992
Purchase Details
Closed on
May 1, 1992
Sold by
Wyatt Billy B
Bought by
Piira Raymond G
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Similar Homes in Fort Collins, CO
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| College Heights Llc | $256,500 | Land Title Guarantee Company | |
| Larson Eileen | $165,500 | -- | |
| -- | $8,000 | -- | |
| Piira Raymond G | $48,500 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | College Heights Llc | $198,250 | |
| Previous Owner | Larson Eileen | $105,500 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/26/2023 05/26/23 | Sold | $656,500 | -5.5% | $716 / Sq Ft |
| 04/30/2023 04/30/23 | Pending | -- | -- | -- |
| 03/22/2023 03/22/23 | For Sale | $695,000 | -- | $758 / Sq Ft |
Source: IRES MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,408 | $28,783 | $3,350 | $25,433 |
| 2024 | $2,291 | $28,783 | $3,350 | $25,433 |
| 2022 | $1,351 | $14,157 | $3,475 | $10,682 |
| 2021 | $1,351 | $14,565 | $3,575 | $10,990 |
| 2020 | $1,982 | $21,178 | $3,575 | $17,603 |
| 2019 | $1,990 | $21,178 | $3,575 | $17,603 |
| 2018 | $32 | $20,707 | $3,600 | $17,107 |
| 2017 | $0 | $20,707 | $3,600 | $17,107 |
| 2016 | $1,772 | $279 | $0 | $279 |
| 2015 | $1,759 | $360 | $0 | $360 |
| 2014 | $1,398 | $15,330 | $3,980 | $11,350 |
Source: Public Records
Agents Affiliated with this Home
-
Tod Franklin
Seller's Agent in 2023
Tod Franklin
Coldwell Banker Realty- Denver West
(720) 563-9249
1 in this area
54 Total Sales
-
Richard Hausman
Seller Co-Listing Agent in 2023
Richard Hausman
Roots Real Estate
(970) 222-2772
1 in this area
49 Total Sales
-
N
Buyer's Agent in 2023
Non-IRES Agent
CO_IRES
Map
Source: IRES MLS
MLS Number: 983971
APN: 97141-06-005
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules © Copyright IRES.
Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information deemed reliable but not guaranteed by the MLS.
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