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Larimer 80515
2278 Spruce Mountain Dr
$475,000
● House - Off Market

2278 Spruce Mountain Dr

Drake, CO 80515
bedrooms
2 Beds
bathrooms
1 Bath
square feet
992 Ft²
$2,602
Est. Monthly
5.56%
Cap Rate

About This Property

Welcome to this gorgeous mountain cabin, ideal as a primary residence or a serene mountain getaway! Nestled on a private, secluded wooded lot, this charming 2-bedroom, 1-bath retreat features bonus rooms perfect for an office or hobby space. The detached 672 SF garage offers additional space upstairs, waiting for your creative inspiration. Step outside to your 5 acre lot, where you can soak in the idyllic mountain setting, relax in the hot tub, and enjoy evenings of stargazing. Additional bonus features include a sauna, greenhouse, 2 owned propane tanks, wood storage shed, and back-up generator. Experience the perfect blend of comfort and nature in this enchanting cabin!
Unit Size
992 Ft²
Days on Market
-
Land Size
5.00 acres
Price per sqft
$479
Property Type
House
Property Taxes
$270
HOA Dues
-
Year Built
1995

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 2 years ago (IRES MLS #1031904)

Price History

Date / Event Date Event Price
May 29, 2025 Sold
Premium
Sold
Apr 23, 2025 Listed $475,000
Listed
Jun 2, 2021 Sold
Premium
Sold
Apr 29, 2021 Listed $400,000
Listed
Jan 8, 1999 Sold
Premium
Sold

Property Highlights

Fireplace

Building Info

Overview

    General

  • Year Built: 1995
  • Effective Year Built: 1995
  • Building Count: 1
  • Total Rooms: 3
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Bathroom Plumbing Fixtures: 5
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 60
  • Exterior Walls Type: 18
  • Interior Walls Type: 3
  • Roof Shape Type: 14
  • Roof Cover Type: 3
  • Floor Count: 150
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 4
  • Garage Square Area: 672
  • Parking Space Count: 2
  • Patio Type: 61
  • Porch Type: 50
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 217,800
  • Total Building Area: 992
  • Gross Building Area: 992
  • Building Area: 992
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 6
  • Heating: 14
  • Heated Square Feet: 992
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 5

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CEDAR PARK
  • Land Acres: 0000005000
  • Standard Land Use Code: 1001
  • County Land Use Code: 1219L
  • Legal Description 1: LOT 4, CEDAR PK 7TH

Neighborhood

  • School District Name: Thompson School District R-2J
  • Census Tract: 001904

Zoning

  • Zoning: E

Geography

  • Assessors Map Reference: 16234
  • Account Number: R0502995
  • Parcel: R0502995
  • Lot: 4
  • Meridian: SEC 23 TWN 6N RNG 71W
  • Municipality: OUTSIDE CITY LIMITS
  • Latitude: 40.4701
  • Longitude: -105.309

    Address

  • Full Address: 2278 Spruce Mountain Dr
  • Address - House Number: 2278
  • Address - Street Name: Spruce Mountain
  • Address - Suffix Type: Dr
  • State: CO
  • City Name: Drake
  • Zip Code: 80515

Valuation

    Tax

  • Total Area: 992
  • Tax Year: 2023
  • Tax Amount: $246,514
  • Tax Rate Code Area: 20080

    Appraisal Valuation

  • Standard Deviation: 0.1555
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 80
  • Final Value: 529,389
  • High Value: 611,730
  • Low Value: 447,048

    Market Valuation

  • Market Total Value: $514,000
  • Market Land Value: $80,000
  • Market Improvement Value: $434,000

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $34,438
  • Assessed Land Value: $5,360
  • Assessed Improvements Value: $29,078

    Sales

  • Current Sale Contract Date: May 27, 2021
  • Current Sale Recording Date: Jun 02, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 20210054005
  • Previous Sale Recording Date: Jan 08, 1999
  • Previous Sale Contract Date: Jan 04, 1999
  • Previous Sale Amount: $92,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Larimer

Stats & Trends

Median Asking:

$551,700

Sale Price/ft²

$283

Above Asking

81.95%

Average Days on Market

57

Average Home Size

2237 ft²

Average Home Age

27.8 years

Currently For Sale

3411 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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IRES

Listed by: Seth Hanson,
Last Updated: 2 years ago
Data Source: IRES MLS, MLS# 1031904
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. Compensation information displayed on listing details is only applicable to other participants and subscribers of the source MLS.

Frequently Asked Questions

When was property at 2278 Spruce Mountain Drive built and last sold?
The property at 2278 Spruce Mountain Drive was built in 1995 and last sold on May 27, 2021 for $400,000.
How much is this home worth?
The estimated value of the home located at 2278 Spruce Mountain Drive is $465,937.
What are some comparable homes to 2278 Spruce Mountain Drive?
There are currently no comparable homes to 2278 Spruce Mountain Drive.
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