Small multifamily deals in Colorado are producing cash-on-cash returns worth paying attention to in 2026. Three real deals just went under contract or closed along the Front Range.

In this episode, Chris Lopez sits down with real estate agent Jeff White and lender Troy Howell of Nova Home Loans. Together, they walk through three actual deals. Those are a Loveland fourplex at $685K, an Aurora triplex at $579K, and a Pueblo duplex at $300K. These are not hypotheticals. One is already under contract. Another closed just weeks ago. The numbers are real.

The Deals

Jeff walks through both the house hacker and investor scenarios on each property. For the Loveland fourplex, a house hacker with 5% down pays $458 per month in year one. Then, in year two, that same property cash flows over $1,076 per month. That works out to a 23.80% cash-on-cash return. For investors at 25% down, the fourplex delivers 6.50% cash-on-cash in year one. That is roughly three times the Denver metro average. Beyond that, Section 8 rates in Larimer County hit $1,732 per month for a two-bedroom. As a result, the numbers look very different from what most people expect.

The Pueblo duplex, meanwhile, introduces a different tool: DSCR loans. Troy explains how one investor used a cash-out DSCR on a free-and-clear property. As a result, she funded the down payment and reserves on the new purchase. In addition, the property appraised at $310K on a $300K purchase and came with a $10K seller credit. It also stabilized at a 7.72% cap rate with a 6.875% 30-year fixed rate.

The Portfolio Play

The episode also covers the strategy behind the Loveland fourplex. Specifically, an investor bought nine fourplexes for $5.2 million and has since been selling them individually. Chris, Jeff, and Troy break down the margin and the mechanics. In short, finding the right motivated portfolio seller remains one of the most underrated plays in Colorado real estate.

Watch the Youtube Video

https://youtu.be/BF24OiyWDy0

Timestamps

00:00 — Welcome & Three-Deal Overview

03:25 — Loveland Fourplex — $685K, New Roof, Appraised at $715K

05:26 — The 0.75 Rent-to-Price Ratio Rule — How to Screen a Deal Fast

08:40— House Hacker Pays $458/Month in the Loveland Fourplex

11:19— Investor Scenario — 6.5% Cash-on-Cash Year One, 3x Denver Average

12:39— Reserves Deep Dive — The 10% Rule on a 1980s Building

16:13 — Aurora Triplex at $579K — All-Brick, Month-to-Month Leases

17:44— Aurora Numbers — $517/Month House Hack, 8.33% COC Investor Year Two

20:38— Pueblo Duplex at $300K — Seller Credit, Four-Car Garage, Appraised at $310K

22:01 — DSCR Loans Explained — Qualify Off Rental Income, Not Your W2

35:40— The Nine-Fourplex Portfolio Play — How Bulk Buying Creates Margin

Links in Podcast

Deal Analysis Spreadsheet — Troy Howell’s underwriting spreadsheet

Weekly Deals Email List — Sign up to receive Front Range multifamily deals from Jeff White weekly

Strategy Call — Book a consultation with Chris, Jeff, or Troy

Connect With Our Guests

Troy Howell: troy.howell@novahomeloans.com

LinkedIn: Troy Howell
Website: https://www.novahomeloans.com/loan-officer/troy-howell/

Jeff White: jeff@envisionrea.com

Who is Nova Home Loans?

For over 40 years, we’ve been focused on helping homeowners find the perfect loan to fit their financial needs and personal goals. Working with NOVA is a personalized experience from initial application to final loan closing and beyond. We will be with you every step of the way toward successful homeownership. Start working with NOVA & Troy Howell today!

NOVA FINANCIAL & INVESTMENT CORPORATION, DBA NOVA HOME LOANS NMLS 3087/ EQUAL HOUSING OPPORTUNITY/8055 EAST TUFTS AVENUE, SUITE 101/DENVER, CO

#608: 3 Front Range Multifamily Deals That Actually Cash Flow in 2026