Back Unit Duplex with
For Sale
$675,000
2147 S Bellaire St, Denver, CO 80222
Four-level 2023 duplex with four bedrooms, four baths, private patio, and fully fenced backyard.
Property Size2,014 SF
Days on Market84
Property Features for 2147 S Bellaire St
General Information
Standard status
Active
Size
2,014 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,036
Amenities
private patio
fully fenced backyard
outdoor balcony
finished basement
recreation area
Building Details
Building Size
2,014 SF
Year Built
2023
Stories
4
Listing Agency:
LIV Sotheby's International Realty
Listed By:
Elizabeth Richards
(303) 956-2962
Source:
Guidere
Added: Jun 25
Changed: Sep 10
Last Checked: Sep 15 at 8:40AM
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 LIV Sotheby's International Realty
Investment Insights
Based on property information with market context.
Completed in 2023, this back unit duplex is built across four levels and designed for flexible living. The main level features a gourmet kitchen with quartz countertops, stainless steel appliances, generous pantry storage, and a dedicated dining area that opens to the living room. From there, step out to a private patio with garage access and a fully fenced backyard.
A striking floating staircase leads to the second level, where two spacious bedrooms each include an en-suite bathroom, plus a centrally located laundry room. The third-floor loft adds additional flexibility for use as an office, fitness studio, media lounge, or creative workspace, and it extends to a private outdoor balcony. The third level also includes a private bedroom with an en-suite bathroom.
Down the floating staircase, the finished basement offers a spacious recreation area and a private fourth bedroom, supporting guests or extended stays. The home is near light rail access and I-25, with easy proximity to the University of Denver, Platt Park, Washington Park, Cherry Creek, and Downtown Denver, and it benefits from a future Bethesda Park development at the end of the block.
A striking floating staircase leads to the second level, where two spacious bedrooms each include an en-suite bathroom, plus a centrally located laundry room. The third-floor loft adds additional flexibility for use as an office, fitness studio, media lounge, or creative workspace, and it extends to a private outdoor balcony. The third level also includes a private bedroom with an en-suite bathroom.
Down the floating staircase, the finished basement offers a spacious recreation area and a private fourth bedroom, supporting guests or extended stays. The home is near light rail access and I-25, with easy proximity to the University of Denver, Platt Park, Washington Park, Cherry Creek, and Downtown Denver, and it benefits from a future Bethesda Park development at the end of the block.
Key Highlights
- Completed in 2023, four levels of living space
- Four bedrooms and four bathrooms
- Gourmet kitchen with quartz countertops, stainless steel appliances, and pantry storage
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
$33,470
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
4.96%
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%
$669,400
$669.4K
Cap Rate 7%
$478,143
$478.1K
Cap Rate 9%
$371,889
$371.9K
Market Conditions
NOI Build-Up for 2,014 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
$50.8K $25.20/SF
− Vacancy
−$2.9K −$1.46/SF
EGI
$47.8K $23.74/SF
− OpEx
−$14.3K −$7.12/SF
NOI
$33.5K $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%
$669,400
Cap Rate 7%
$478,143
Cap Rate 9%
$371,889
Alternative Uses
Best Use
Multifamily LT 5
$478.1K
$418.4K – $557.8K
NOI $33,470 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$436.9K
$382.3K – $509.7K
NOI $30,580 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$641.1K
$561.0K – $748.0K
NOI $44,879 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,928
Businesses Nearby
Explore this area
Business Placement
Demographics for 80222, CO
22,381
Population
11,625
Households
1.9
Avg Household Size
38
Median Age
57%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
5,890
Density / Sq Mi
$85,354
Median Household Income
$57,833
Median Earnings
$1,715
Median Rent
$596,300
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 - Four-level 2023 duplex with four bedrooms, four baths, private patio, and fully fenced backyard.
Where is this duplex located?
The property is located at 2147 S Bellaire St Denver, CO.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Completed in 2023, four levels of living space; Four bedrooms and four bathrooms; Gourmet kitchen with quartz countertops, stainless steel appliances, and pantry storage
