March Listing Spotlight
Here is a list of the Old Town properties that were listed in March of 2021. The listing agent for each property noted beneath each photo and all photos were taken directly from the MLS feed.
423 Franklin St, Fort Collins, CO 8051
Listed by Christine Volz, Curb Real Estate
List Price: $379,000
Sold Price: $423,000
Difference: $46,000
A rare opportunity in the current market for a decently priced home listed under $400K quickly escalated to a strong offer well above list price for this home. It is a 2 bed, 2 bath home with 1368 SQFT and was under contract in 6 days from listing. This listing was subject to an offer deadline which I’ve found helps to get the highest and best offers out of the market.
207 Clover Ln, Fort Collins, CO 80521
Listed by Shaun Dolon, HUB real estate
List Price: $415,000
Sold Price: $425,000
Difference: $10,000
I find it interesting that this property shares very similar characteristics to the Franklin property, and they both ended up selling within $2000 of each other despite differences in the pricing. This particular property is a 3 bedroom, 1 bathroom home which also had an offer deadline, and in the circumstances, ended up selling to a buyer who didn’t need additional bank financing, which can be quite attractive to sellers who are worried about how a home will appraise.
1134 Laporte Ave, Fort Collins, CO 80521
Listed by Todd Sledge, The Group INC.
List Price: $435,000
Sold Price: $468,000
Difference: $33,000
Another Laporte Ave listing that was under contract in less than 7 days….this one taking 4 days before going under contract. This 3 bed, 1 bath, 1417 square foot cade cop style home, had multiple offers and sold 7.5% above its asking price. 4 years ago this same home sold at $365K. Thats a pretty good return on investment in just a couple of years!
1316 Laporte Ave, Fort Collins, CO 80521
Listed by Kasey Giliotti, Shorewood Real Estate NOCO
List Price: $500,000
Sold Price: Withdrawn from the market on 04/06/2021
Difference: TBD
For the life of me, I could never see a sign that this place was for sale as I drove by multiple times over the past few weeks. At $500K for a 3 bed, 1 bath, 1246 SQFT home, it does show that there may be an upper limit for what makes sense at this given point in time for buyers. The home does have a current month to month lease, which never makes it easier to sell, but is certainly better than trying to sell a home with a long term lease still in place as it limits the purchase to investors. I wouldn’t be surprised if this property owner decided to resign a long-term lease with a renter and pull it from the market….but I could be completely wrong as well!
204 Maple 301, Fort Collins, CO 80521
Listed by Kenny Anderson, The Wentworth Company
List Price: $525,000
Sold Price: Pending (23 Days to Offer)
Difference: TBD
While condos in Old Town have been selling for premium prices in the past 6-12 months, these condos at Penny Flats seem to be a tougher sell to most buyers as the Mason train tracks past directly by this building. I’ve found that the finishes inside are very nice in general, and this property certainly seems well kept, but those tracks are a difficult objection to overcome as a buyer. This property is currently a rental, and it seems like this might be the best suited transition when the numbers work for another investor.
1115-1117 Akin, Fort Collins, CO 80521
Listed By Ray Henry, The Group INC
List Price: $600,000
Sold Price: $625,000
Difference: $25,000
By no means is this the most attractive building on the lot, but certainly it can make sense to an investor. This particular property is comprised of 2 rental units each with 3 bedrooms and 1 bathroom, with a total overall rent of $2700/month ($1300 and $1400 respectively). With leases ending in June on these units, I can see how an investor would take a punt on this one as they could probably raise the rents by $100/each one the lease cycle is up and get better numbers moving forward.
126 N Mack St, Fort Collins, CO 80521
Listed by Brady Walters, Remax Alliance FTC-Downtown
List Price: $725,000 (Original listed price - see below for price reduction price)
Sold Price: Pending (52 Days to offer)
Difference: $TBD
I pass by this house nearly every morning on my morning walk with the dog to city park, so when I saw this one come up, I had to check out the numbers. Currently listed at $679,900 after a price reduction (As of 04/23/2021) I think this 3 bed, 2 bath 1130 sqft home is going at a premium, even given the current market. Based on what I have seen other Old Town home of similar size, style, and general location going for, I’m somewhat surprised to see it under contract after a recent price drop to $679,900 . If I’m being honest, I think $600,000 would be a much more realistic price for the home given that it sold for $500,000 just a few years ago, but I could see it potentially selling for a bit less than the $679,900 price range. Time will tell on this one!
139 N. Meldrum, Fort Collins, CO 80521
Listed by Bobby Kahn, Integrity Realty
List Price: $885,000
Sold Price: $TBD (Currently Available)
Difference: $TBD
A peculiar opportunity as this property is currently leased as an office until 2023. However, it does sit within a zoning district that allows for a variety of uses, including office space, a primary residence, mixed use, or multi units, so it seems that the pricing is more geared for the potential of location and land as opposed to the actual current use or size. Sitting at 1490 SQFT with 3 beds, 2 baths, this would be quite a high price to pay for a single family home of that size. Even with the potential use of this property, with building costs higher than they have ever been, it may be too risky of an endeavor for someone to take on with the uncertainty of an additional build if the main residence or location doesn’t wow them enough.
828 Maple, Fort Collins, CO 80521
Listed by Kathy Arents, The Group INC
List Price: $1,000,000
Sold Price: $TBD (Pending Sale)
Difference: $TBD
I’ve always thought that this property, nearly on the corner of Wood and Maple St, is quite an attractive home. Built in 2009, by Jamestown builders, it is one of a few newer built homes in Old Town that mirror an older aesthetic. This particular home is is 4 bed, 4 bath with 3228 SQFT, but is on a relatively small lot (only 4970 SQFT). Still, priced at $1.0 million, it received an offer in 6 days and will undoubtedly close near its listed price.
