Modern Farmhouse Duplex with
For Sale
$1,197,000
2135 S High St, Denver, CO 80210
Newly built residence with a detached, fully equipped ADU above the finished garage.
Property Size3,212 SF
Days on Market51
Property Features for 2135 S High St
General Information
Standard status
Active
Size
3,212 SF
Total Parking Spaces
2
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$3,000
Amenities
fireplace
private balcony
spa-style bath
backyard patio
tankless water heater
Google Nest thermostat
Building Details
Building Size
3,212 SF
Year Built
2026
Buildings
2
Construction
modern farmhouse
Listing Agency:
HomeSmart
Listed By:
Jonathon Sakalas
(410) 320-2940
Source:
Guidere
Added: Jul 28
Changed: Sep 10
Last Checked: Sep 15 at 9:28AM
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 HomeSmart
Investment Insights
Based on property information with market context.
This modern farmhouse-style duplex features a primary residence with 10-foot ceilings, abundant natural light, solid oak flooring, quartz countertops, custom tile, and matte black hardware. The open-concept main level includes a fireplace, floating staircases with handcrafted steel railings, and a gourmet kitchen with high-end stainless appliances, double oven, oversized refrigerator, drawer microwave, gas cooktop, and waterfall-edge quartz island. The primary suite offers expansive windows, a private balcony, and a spa-style bath with soaking tub and dual shower heads in a glass-enclosed wet room.
A fully detached ADU of 500+ square feet is located above the finished two-car garage and includes its own kitchen, full bath, laundry, and private entrance. The property also provides three outdoor spaces, mature trees, a backyard patio wired for a hot tub, and space for a firepit or grill. Additional features include a tankless water heater, variable-speed high-efficiency HVAC, Google Nest thermostat, and garage pre-wiring for an EV charger. Located in Denver’s University of Denver/Platt Park neighborhood.
A fully detached ADU of 500+ square feet is located above the finished two-car garage and includes its own kitchen, full bath, laundry, and private entrance. The property also provides three outdoor spaces, mature trees, a backyard patio wired for a hot tub, and space for a firepit or grill. Additional features include a tankless water heater, variable-speed high-efficiency HVAC, Google Nest thermostat, and garage pre-wiring for an EV charger. Located in Denver’s University of Denver/Platt Park neighborhood.
Key Highlights
- Detached, fully equipped 500+ sq ft ADU above the finished two‑car garage
- ADU includes a kitchen, full bath, laundry, and private entrance
- Modern farmhouse‑style residence built in 2026
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
$53,379
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
4.46%
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%
$1,067,580
$1.1M
Cap Rate 7%
$762,557
$762.6K
Cap Rate 9%
$593,100
$593.1K
Market Conditions
NOI Build-Up for 3,212 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
$80.9K $25.20/SF
− Vacancy
−$4.7K −$1.46/SF
EGI
$76.3K $23.74/SF
− OpEx
−$22.9K −$7.12/SF
NOI
$53.4K $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%
$1,067,580
Cap Rate 7%
$762,557
Cap Rate 9%
$593,100
Alternative Uses
Best Use
Multifamily LT 5
$762.6K
$667.2K – $889.7K
NOI $53,379 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$696.7K
$609.6K – $812.8K
NOI $48,770 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.02M
$894.7K – $1.19M
NOI $71,575 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 80210, CO
39,394
Population
18,496
Households
2.1
Avg Household Size
33
Median Age
76%
College-Educated
99%
High-School Grad
6.1 sq mi
ZIP Area
6,458
Density / Sq Mi
$120,156
Median Household Income
$61,607
Median Earnings
$1,963
Median Rent
$870,500
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 - Newly built residence with a detached, fully equipped ADU above the finished garage.
Where is this duplex located?
The property is located at 2135 S High St Denver, CO.
What is the asking price?
The asking price for this property is $1,197,000.
What are key features of this property?
This property features: Detached, fully equipped 500+ sq ft ADU above the finished two‑car garage; ADU includes a kitchen, full bath, laundry, and private entrance; Modern farmhouse‑style residence built in 2026
