Duplex with Lock-Off
For Sale
$1,295,000
33 Red Feather Road, Breckenridge, CO 80424
Residential, BRECKENRIDGE, CO
Property Size3,189 SF
Lot Size0.11 Acres
Price / SF$406.08
Days on Market15
Property Features for 33 Red Feather Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 4
Pets allowed
Yes
Appliances
Dishwasher, Disposal, Range Gas, Refrigerator, Washer / Dryer
Subdivision
BRYANT DUPLEX
Standard status
Active
APN
6502709
Size
3,189 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6270
Utilities
Heating system
Radiant, Natural Gas, Central, Oil
Amenities
hot tub
Building Details
Year built
1996
Flooring type
Wood, Tile, Carpet - Full
Roof type
Asphalt
Listing Agency:
Paffrath & Thomas R.E.S.C
(970) 453-0466
Listed By:
Mark Thomas · License #ER229851
(970) 390-6010
Added: Aug 18
Changed: Sep 1
Last Checked: Sep 1 at 9:06PM
MLS# S1071029
Copyright © 2026 Altitude REALTORS ®. 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 3,189-square-foot duplex was built in 1996 and includes a five-bedroom main residence with a lock-off one-bedroom apartment on the upper level. The apartment offers separate interior or exterior access, creating flexibility for guests, family use, or rental arrangements. Interior improvements include stone countertops, updated appliances, refreshed cabinetry, and LVP flooring in the kitchen. A private deck hot tub, asphalt roof, and in-floor radiant heating further define the property.
Located at 33 Red Feather Road in Breckenridge, the home is within walking distance of town and near a bus stop. The property occupies 0.11 acres and is equipped with a new hydronic gas-fired boiler. Additional interior features include carpet, tile, and wood flooring, along with a gas range, refrigerator, dishwasher, disposal, and washer/dryer.
Located at 33 Red Feather Road in Breckenridge, the home is within walking distance of town and near a bus stop. The property occupies 0.11 acres and is equipped with a new hydronic gas-fired boiler. Additional interior features include carpet, tile, and wood flooring, along with a gas range, refrigerator, dishwasher, disposal, and washer/dryer.
Key Highlights
- 3,189 square feet on a 0.11‑acre lot
- Five‑bedroom home with a lock‑off one‑bedroom upper‑level apartment
- Separate interior or exterior access to the upper‑level apartment
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
$53,160
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
4.11%
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%
$1,063,200
$1.1M
Cap Rate 7%
$759,429
$759.4K
Cap Rate 9%
$590,667
$590.7K
Market Conditions
NOI Build-Up for 3,189 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
$80.4K $25.20/SF
− Vacancy
−$4.4K −$1.39/SF
EGI
$75.9K $23.81/SF
− OpEx
−$22.8K −$7.14/SF
NOI
$53.2K $16.67/SF
Area
Summit County, CO
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,063,200
Cap Rate 7%
$759,429
Cap Rate 9%
$590,667
Alternative Uses
Best Use
Multifamily LT 5
$759.4K
$664.5K – $886.0K
NOI $53,160 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$701.3K
$613.6K – $818.2K
NOI $49,091 @ 7.0% cap · market cap 3.79%
Theoretical Best
Warehouse
$63.47M
$55.54M – $74.05M
NOI $4,443,122 @ 7.0% cap · market cap 343.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 80424, CO
10,474
Population
11,886
Households
0.9
Avg Household Size
38
Median Age
55%
College-Educated
94%
High-School Grad
125.9 sq mi
ZIP Area
83
Density / Sq Mi
$109,497
Median Household Income
$49,958
Median Earnings
$2,029
Median Rent
$970,000
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 - Five-bedroom configuration includes a separately accessible upper-level apartment and updated kitchen finishes.
Where is this duplex located?
The property is located at 33 Red Feather Road Breckenridge, CO.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 3,189 square feet on a 0.11‑acre lot; Five‑bedroom home with a lock‑off one‑bedroom upper‑level apartment; Separate interior or exterior access to the upper‑level apartment
