Ranch Duplex with Private
For Sale
Under Contract
$600,000
131 2nd Street, Silt, CO 81652
DUPLEX - Ranch - Silt, CO
Property Size1,500 SF
Lot Size0.18 Acres
Price / SF$400
Days on Market94
Property Features for 131 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RES
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
Fencing
Fenced
Basement
Unfinished
Subdivision
Townsite of Silt
Lot features
Corner Lot
Directions
Main St Silt to 2nd St, head north on 2nd, 1st residence on left
Standard status
Active Under Contract
APN
217910209001
Size
1,500 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SECTION: 10 TOWNSHIP: 6 RANGE: 92 SUBDIVISION: ORIGINAL TWNSTE SILT BLOCK: 2 LOT: 1 THRU:- LOT: 3
Tax Annual Amount
2076
Legal Description
SECTION: 10 TOWNSHIP: 6 RANGE: 92 SUBDIVISION: ORIGINAL TWNSTE SILT BLOCK: 2 LOT: 1 THRU:- LOT: 3
Utilities
Heating system
Natural Gas, Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1938
Building materials
Log Siding, Log
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Coldwell Banker Mason Morse-GWS · Coldwell Banker Real Estate
(970) 928-9000
Listed By:
Erin Bassett · License #FA40042409
(970) 309-3319
Added: May 29
Changed: Aug 17
Last Checked: Aug 30 at 10:06AM
MLS# 193029
Copyright © 2026 Aspen Glenwood MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained ranch duplex was built in 1938 and sits on a 0.18-acre corner lot. Each unit is a 2 bed/1 bath layout with its own one-car garage and fenced back yard. A shared basement provides two washer/dryer hookups plus additional storage.
Improvements include a remodel in 2013 with new covered front porches, new windows, and roofs over the main homes. Updates also include new kitchen cabinets and countertops, newer appliances, and bathroom finishes such as custom built antique chestnut cabinets, tile backsplash and countertops, new tubs and tub surround, and new tile floors. Recent upgrades include a new sewer line (Dec 2025) and a new hot water heater for the 131 unit. Gas and electric are metered separately, and public water is provided. Town of Silt irrigation water is located in the SW corner, which may support adding a sprinkler system if desired.
The property is zoned RES and has no HOA.
Improvements include a remodel in 2013 with new covered front porches, new windows, and roofs over the main homes. Updates also include new kitchen cabinets and countertops, newer appliances, and bathroom finishes such as custom built antique chestnut cabinets, tile backsplash and countertops, new tubs and tub surround, and new tile floors. Recent upgrades include a new sewer line (Dec 2025) and a new hot water heater for the 131 unit. Gas and electric are metered separately, and public water is provided. Town of Silt irrigation water is located in the SW corner, which may support adding a sprinkler system if desired.
The property is zoned RES and has no HOA.
Key Highlights
- Duplex at 131 2nd Street, Silt, CO 81652 on a 0.18‑acre corner lot
- Each unit is 2 bed/1 bath with a one‑car private garage and fenced back yard
- Remodeled in 2013 with covered front porches, new windows, and new roofs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,647
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$392,940
$392.9K
Cap Rate 7%
$280,671
$280.7K
Cap Rate 9%
$218,300
$218.3K
Market Conditions
NOI Build-Up for 1,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.7K $19.80/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$28.1K $18.71/SF
− OpEx
−$8.4K −$5.61/SF
NOI
$19.6K $13.10/SF
Area
Garfield County, CO
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$392,940
Cap Rate 7%
$280,671
Cap Rate 9%
$218,300
Alternative Uses
Best Use
Multifamily LT 5
$280.7K
$245.6K – $327.5K
NOI $19,647 @ 7.0% cap · market cap 3.27%
Second Best
Apartment 5plus
$262.0K
$229.3K – $305.7K
NOI $18,342 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$392.8K
$343.7K – $458.3K
NOI $27,498 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 81652, CO
5,801
Population
2,223
Households
2.6
Avg Household Size
36
Median Age
26%
College-Educated
89%
High-School Grad
105.4 sq mi
ZIP Area
55
Density / Sq Mi
$97,760
Median Household Income
$47,561
Median Earnings
$2,030
Median Rent
$505,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained ranch duplex on a corner lot with separate gas and electric meters and fenced yards.
Where is this duplex located?
The property is located at 131 2nd Street Silt, CO.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Duplex at 131 2nd Street, Silt, CO 81652 on a 0.18‑acre corner lot; Each unit is 2 bed/1 bath with a one‑car private garage and fenced back yard; Remodeled in 2013 with covered front porches, new windows, and new roofs
