Brick Duplex with Finished
For Sale
$479,000
1414 Spruce St, Denver, CO 80220
Mid-century brick property with flexible lower-level space, a detached garage, and access to major Denver employment and commuter destinations.
Property Size1,540 SF
Days on Market66
Property Features for 1414 Spruce St
General Information
Standard status
Active
Size
1,540 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Asking Price
$479,000
Taxes and HOA fees
Annual Taxes
$2,236
Amenities
hardwood floors
granite countertops
stainless steel appliances
finished basement
private backyard
central air conditioning
security system
Building Details
Building Size
1,540 SF
Year Built
1948
Construction
mid-century brick
Listing Agency:
Live.Laugh.Colorado. Real Estate Group
(303) 775-9669
Listed By:
Maci Chance
(303) 775-9669
Source:
Corken
Added: Jun 25
Changed: Aug 28
Last Checked: Aug 29 at 4:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Live.Laugh.Colorado. Real Estate Group
Investment Insights
Based on property information with market context.
This 1948 mid-century brick duplex includes four bedrooms and two bathrooms, with hardwood flooring and natural light across the main living areas. The kitchen is equipped with granite countertops, stainless steel appliances, and substantial cabinetry. A finished basement adds two bedrooms, a full bathroom, laundry facilities, and a separate living area. A detached two-car garage, fenced private backyard, new carpet, exterior paint, gutters, window blinds, and security equipment are also included. The property has a new central air conditioning system.
The address provides access to Anschutz Medical Campus, Lowry, Central Park, downtown Denver, and major commuter routes. Additional improvements include fencing and professionally installed security equipment with doorbell cameras.
The address provides access to Anschutz Medical Campus, Lowry, Central Park, downtown Denver, and major commuter routes. Additional improvements include fencing and professionally installed security equipment with doorbell cameras.
Key Highlights
- Four‑bedroom, two‑bathroom duplex property built in 1948
- Finished basement with two bedrooms, full bathroom, laundry, and separate living area
- Detached two‑car garage and fenced private backyard
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
$25,593
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
5.34%
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%
$511,860
$511.9K
Cap Rate 7%
$365,614
$365.6K
Cap Rate 9%
$284,367
$284.4K
Market Conditions
NOI Build-Up for 1,540 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
$38.8K $25.20/SF
− Vacancy
−$2.2K −$1.46/SF
EGI
$36.6K $23.74/SF
− OpEx
−$11.0K −$7.12/SF
NOI
$25.6K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
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%
$511,860
Cap Rate 7%
$365,614
Cap Rate 9%
$284,367
Alternative Uses
Best Use
Multifamily LT 5
$365.6K
$319.9K – $426.6K
NOI $25,593 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$334.0K
$292.3K – $389.7K
NOI $23,383 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$490.2K
$429.0K – $572.0K
NOI $34,317 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 80220, CO
37,233
Population
17,675
Households
2.1
Avg Household Size
37
Median Age
66%
College-Educated
94%
High-School Grad
5.2 sq mi
ZIP Area
7,160
Density / Sq Mi
$101,961
Median Household Income
$61,568
Median Earnings
$1,621
Median Rent
$739,600
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 - Mid-century brick property with flexible lower-level space, a detached garage, and access to major Denver employment and commuter destinations.
Where is this duplex located?
The property is located at 1414 Spruce St Denver, CO.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Four‑bedroom, two‑bathroom duplex property built in 1948; Finished basement with two bedrooms, full bathroom, laundry, and separate living area; Detached two‑car garage and fenced private backyard
