Updated Duplex with Trail
For Sale
$735,000
194 Cartier Court, Dillon, CO 80435
Residential, DILLON, CO
Property Size1,324 SF
Lot Size0.26 Acres
Price / SF$555.14
Days on Market100
Property Features for 194 Cartier Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Pets allowed
Yes
Appliances
Cooktop Electric, Dishwasher, Disposal, Washer / Dryer
Subdivision
KEY WEST FARMS SUB
View
Golf Course, Mountains
Standard status
Active
APN
1001114
Size
1,324 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3483
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Amenities
decks
wood burning fireplace
vaulted ceilings
updated kitchen
updated bathrooms
updated flooring
landscaping
sheds
Building Details
Year built
1974
Flooring type
Tile, Vinyl
Roof type
Asphalt
Listing Agency:
Slifer Smith & Frampton R.E.
(970) 547-7960
Listed By:
David Greenberg · License #FA100003350
(970) 393-0769
Added: Jun 8
Changed: Sep 12
Last Checked: Sep 15 at 4:06PM
MLS# S1069364
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 1,324-square-foot duplex, built in 1974, occupies a 0.26-acre lot in Dillon. Recent improvements include the kitchen, bathrooms, flooring, and landscaping. The home features three bedrooms, two bathrooms, vaulted ceilings, and a great room anchored by a real wood-burning fireplace. East- and west-facing decks provide outdoor spaces oriented toward morning and afternoon sunlight. Two sheds add on-site storage, and the property has room for a garage addition.
The residence backs to hole 11 of the Keystone River Course and sits along the Soda Ridge Trail, which connects to additional hiking and biking routes. Summit Cove provides nearby everyday amenities, including a coffee shop, bike and ski shop, pizza restaurant, Summit Stage bus stop, and Irish pub. The property has no HOA dues or restrictive covenants.
The residence backs to hole 11 of the Keystone River Course and sits along the Soda Ridge Trail, which connects to additional hiking and biking routes. Summit Cove provides nearby everyday amenities, including a coffee shop, bike and ski shop, pizza restaurant, Summit Stage bus stop, and Irish pub. The property has no HOA dues or restrictive covenants.
Key Highlights
- 1,324‑square‑foot duplex on a 0.26‑acre lot
- Three bedrooms and two bathrooms
- East- and west‑facing decks
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
$22,071
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
3.00%
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%
$441,420
$441.4K
Cap Rate 7%
$315,300
$315.3K
Cap Rate 9%
$245,233
$245.2K
Market Conditions
NOI Build-Up for 1,324 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
$33.4K $25.20/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$31.5K $23.81/SF
− OpEx
−$9.5K −$7.14/SF
NOI
$22.1K $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%
$441,420
Cap Rate 7%
$315,300
Cap Rate 9%
$245,233
Alternative Uses
Best Use
Multifamily LT 5
$315.3K
$275.9K – $367.9K
NOI $22,071 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$291.2K
$254.8K – $339.7K
NOI $20,381 @ 7.0% cap · market cap 2.77%
Theoretical Best
Warehouse
$26.35M
$23.06M – $30.74M
NOI $1,844,683 @ 7.0% cap · market cap 250.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 80435, CO
8,344
Population
7,778
Households
1.1
Avg Household Size
36
Median Age
53%
College-Educated
97%
High-School Grad
104.0 sq mi
ZIP Area
80
Density / Sq Mi
$86,023
Median Household Income
$48,554
Median Earnings
$1,539
Median Rent
$882,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with east- and west-facing decks, a wood-burning fireplace, and direct access to the Soda Ridge Trail.
Where is this duplex located?
The property is located at 194 Cartier Court Dillon, CO.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 1,324‑square‑foot duplex on a 0.26‑acre lot; Three bedrooms and two bathrooms; East- and west‑facing decks
