Mountain-View Duplex with
For Sale
$1,175,000
6 Black Bear Drive, Gypsum, CO 81637
Residential, Gypsum, CO
Property Size3,255 SF
Lot Size0.21 Acres
Price / SF$360.98
Days on Market56
Property Features for 6 Black Bear Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Bedrooms
5
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 3, Bedroom 3, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 1
Parking
4
Patio and Porch features
Patio, Deck
Pets allowed
Yes
Interior features
Fireplace - Gas, Patio, Balcony
Fireplace
1
Basement
Finished
Appliances
Electric Dryer, Built-In Gas Oven, Dishwasher, Disposal, Microwave, Range, Refrigerator, Washer
Subdivision
Cotton Ranch 2
Lot features
Golf Course
View
Golf Course
Standard status
Active
APN
2111-082-10-011
Size
3,255 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Subdivision: COTTON RANCH PUD FIL 2 Lot: 2A-A
Tax Annual Amount
7546
HOA Fee
$300 Annually
Legal Description
Subdivision: COTTON RANCH PUD FIL 2 Lot: 2A-A
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Forced Air
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2023
Floors in Building
3
Flooring type
Simulated wood, Tile, Carpet
Building materials
Frame, Stone, Stucco, Wood Siding
Roof type
Asphalt
Listing Agency:
Slifer Smith & Frampton - Eagle
(970) 328-2550
Listed By:
Kelly Moser · License #FA040042273
(970) 331-9552
Added: Jul 13
Changed: Sep 4
Last Checked: Sep 6 at 2:06AM
MLS# 1014708
Copyright © 2026 Vail Board of 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 duplex residence in Cotton Ranch was completed in 2023 and contains 3,255 square feet of finished space on a 0.21-acre lot. The interior includes five bedrooms and four bathrooms, with an open main level featuring luxury vinyl plank flooring, a gas fireplace with tile surround, quartz kitchen counters, stainless steel appliances, and extensive cabinetry. A home office, powder room, covered deck, and patio add practical flexibility. The upper level includes a primary suite with a five-piece bathroom, walk-in closet, and private deck, while the finished lower level provides a recreation room, two bedrooms, and a full bathroom.
The property backs to a neighborhood duck pond and offers mountain views. Gypsum Creek Golf Course and its remodeled clubhouse are nearby within the Cotton Ranch community. A two-car attached garage connects directly to a mudroom with built-in cubbies. Additional features include forced-air natural gas heating, central air, ceiling fans, public water, cable availability, and an asphalt roof.
The property backs to a neighborhood duck pond and offers mountain views. Gypsum Creek Golf Course and its remodeled clubhouse are nearby within the Cotton Ranch community. A two-car attached garage connects directly to a mudroom with built-in cubbies. Additional features include forced-air natural gas heating, central air, ceiling fans, public water, cable availability, and an asphalt roof.
Key Highlights
- Duplex completed in 2023 with 3,255 square feet of finished space
- Five‑bedroom, four‑bathroom layout across three finished levels
- Situated on a 0.21‑acre lot backing to a neighborhood duck pond
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
$45,018
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
3.83%
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%
$900,360
$900.4K
Cap Rate 7%
$643,114
$643.1K
Cap Rate 9%
$500,200
$500.2K
Market Conditions
NOI Build-Up for 3,255 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
$83.2K $25.56/SF
− Vacancy
−$18.9K −$5.80/SF
EGI
$64.3K $19.76/SF
− OpEx
−$19.3K −$5.93/SF
NOI
$45.0K $13.83/SF
Area
Eagle County, CO
Vacancy
22.70%
Lease Rate
$25.56 /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%
$900,360
Cap Rate 7%
$643,114
Cap Rate 9%
$500,200
Alternative Uses
Best Use
Multifamily LT 5
$643.1K
$562.7K – $750.3K
NOI $45,018 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$583.9K
$510.9K – $681.2K
NOI $40,871 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$892.8K
$781.2K – $1.04M
NOI $62,496 @ 7.0% cap · market cap 5.32%
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
120
Businesses Nearby
Explore this area
Business Placement
Demographics for 81637, CO
9,845
Population
3,291
Households
3
Avg Household Size
34
Median Age
31%
College-Educated
84%
High-School Grad
787.3 sq mi
ZIP Area
13
Density / Sq Mi
$108,556
Median Household Income
$47,262
Median Earnings
$2,162
Median Rent
$549,800
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 - Built in 2023, this contemporary residence offers five bedrooms, four bathrooms, and flexible living areas across three finished levels.
Where is this duplex located?
The property is located at 6 Black Bear Drive Gypsum, CO.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Duplex completed in 2023 with 3,255 square feet of finished space; Five‑bedroom, four‑bathroom layout across three finished levels; Situated on a 0.21‑acre lot backing to a neighborhood duck pond
