Wheat Ridge Income Properties for Sale

Wheat Ridge income properties for sale: the numbers this week

Three numbers frame a Wheat Ridge rental purchase: the median list price ($909K), the gross rent the building actually collects (about $5,909 a month at the median), and the cap rate after 40 percent expenses (4.7 percent at the median price). 9 Wheat Ridge income properties are for sale today from $619K to $1.65M.

The rent math on the median Wheat Ridge building

Ask the listing agent for the rent roll and twelve months of deposits before you trust any rent number; the Wheat Ridge 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 Wheat Ridge 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 Wheat Ridge

Questions people ask about Wheat Ridge income properties

How many income properties are for sale in Wheat Ridge right now?

9 this week, $619K to $1.65M, median $909K. The grid at the top of this page is the live MLS search for Wheat Ridge residential income listings and refreshes daily.

Can I buy a Wheat Ridge 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 Wheat Ridge 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 Wheat Ridge income property cost per month?

$4,536 of principal and interest with 25 percent down at 7 percent, plus taxes, insurance and owner-paid utilities, against about $5,909 of gross rent.

What should I check before buying a rental in Wheat Ridge?

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 Wheat Ridge 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.