Lake-View Duplex With Rooftop
For Sale
$1,350,000
1695 Zenobia St 1, Denver, CO 80204
Completed in 2023, the duplex combines upscale finishes, flexible living areas, and direct proximity to Sloan’s Lake.
Property Size2,593 SF
Days on Market12
Property Features for 1695 Zenobia St 1
General Information
Standard status
Active
Size
2,593 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$7,128
Amenities
fireplace
rooftop deck
gas fire pit
wet bar
covered front patio
xeriscape
fenced front yard
chef's kitchen
center island
Frigidaire appliances
Bosch appliances
walk-in closet
five-piece bath
soaking tub
walk-in shower
double vanity
bonus room
office
mudroom
Building Details
Building Size
2,593 SF
Year Built
2023
Listing Agency:
Milehimodern
(720) 830-3785
Listed By:
Connor Cole
(720) 830-3785
Source:
Guidere
Added: Aug 12
Changed: Aug 23
Last Checked: Aug 23 at 8:58AM
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 Milehimodern
Investment Insights
Based on property information with market context.
Completed in 2023, this duplex offers a multi-level interior with refined finishes and a broad range of functional spaces. The main level includes an open living area with fireplace, a large kitchen island, modern Frigidaire and Bosch appliances, an office, and a mudroom. The upper level contains a primary suite with a walk-in closet and five-piece bathroom, along with two additional bedrooms and another bath. A third-floor bonus room, wet bar, bedroom, and full bathroom extend the usable layout.
A rooftop deck with a gas fire pit captures views of Sloan’s Lake, while additional lake-facing sightlines are available from the foyer, office, and an upstairs bedroom. Exterior features include xeriscaping, a covered front patio, and a fully fenced front yard. The property is located at 1695 Zenobia St 1 in Denver, Colorado.
A rooftop deck with a gas fire pit captures views of Sloan’s Lake, while additional lake-facing sightlines are available from the foyer, office, and an upstairs bedroom. Exterior features include xeriscaping, a covered front patio, and a fully fenced front yard. The property is located at 1695 Zenobia St 1 in Denver, Colorado.
Key Highlights
- Duplex completed in 2023
- Located directly across from Sloan’s Lake
- Rooftop deck with gas fire pit and lake views
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
$43,092
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
3.19%
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%
$861,840
$861.8K
Cap Rate 7%
$615,600
$615.6K
Cap Rate 9%
$478,800
$478.8K
Market Conditions
NOI Build-Up for 2,593 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
$65.3K $25.20/SF
− Vacancy
−$3.8K −$1.46/SF
EGI
$61.6K $23.74/SF
− OpEx
−$18.5K −$7.12/SF
NOI
$43.1K $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%
$861,840
Cap Rate 7%
$615,600
Cap Rate 9%
$478,800
Alternative Uses
Best Use
Multifamily LT 5
$615.6K
$538.7K – $718.2K
NOI $43,092 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$562.4K
$492.1K – $656.2K
NOI $39,371 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$825.4K
$722.3K – $963.0K
NOI $57,781 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 80204, CO
35,269
Population
18,378
Households
1.9
Avg Household Size
33
Median Age
51%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$79,265
Median Household Income
$58,860
Median Earnings
$1,724
Median Rent
$579,900
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 - Completed in 2023, the duplex combines upscale finishes, flexible living areas, and direct proximity to Sloan’s Lake.
Where is this duplex located?
The property is located at 1695 Zenobia St 1 Denver, CO.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Duplex completed in 2023; Located directly across from Sloan’s Lake; Rooftop deck with gas fire pit and lake views
