Longmont Income Properties for Sale

Longmont income properties for sale: the numbers this week

12 Longmont rental properties are listed this week, $475K to $885K; the median Longmont income property is $619K, which is about $248K a unit on a two- to three-unit building and $287 a square foot. At the 0.65 percent rent-to-price ratio the Front Range runs, that building grosses about $4,024 a month against $3,089 of principal and interest with 25 percent down.

The rent math on the median Longmont building

Ask the listing agent for the rent roll and twelve months of deposits before you trust any rent number; the Longmont figure above is a ratio, the building’s leases are the fact. Owner-occupants beat that math: an FHA loan on a 2- to 4-unit Longmont building takes 3.5 percent down and counts 75 percent of the other units’ rent as income. More: Financing a Colorado home.

Income properties for sale near Longmont

Questions people ask about Longmont income properties

How many income properties are for sale in Longmont right now?

12 this week, $475K to $885K, median $619K. The grid at the top of this page is the live MLS search for Longmont residential income listings and refreshes daily.

Can I buy a Longmont duplex or fourplex with an FHA loan?

Yes, with 3.5 percent down when you live in one unit for at least a year; the lender counts 75 percent of the other units’ market rent toward your income. More: Financing a Colorado home.

What cap rate do Longmont rental properties sell at?

On actual rents, 4.7 percent at this week's median price using a 40 percent expense load; buildings under the median run higher. A listing quoting 8 percent is quoting pro forma rents.

What does the median Longmont income property cost per month?

$3,089 of principal and interest with 25 percent down at 7 percent, plus taxes, insurance and owner-paid utilities, against about $4,024 of gross rent.

What should I check before buying a rental in Longmont?

The rent roll and bank deposits, every lease and end date, the deposit ledger, who pays water, sewer and trash, the roof and sewer line on older buildings, the legal unit count with the city, and any short-term rental that the city does not license. More: Seller concessions for Colorado buyers.

Where else near Longmont are income properties for sale?

Denver (121), Colorado Springs (36), Greeley (29), Aurora (28); the table above links each one, and Colorado income properties for sale is the statewide map.