Contemporary Duplex With Rooftop
For Sale
$1,325,000
2229 S Sherman St, Denver, CO 80210
The residence features a finished basement, detached two-car garage, and owned solar panels.
Property Size4,100 SF
Lot Size0.10 Acres
Price / SF$315.48
Days on Market8
Property Features for 2229 S Sherman St
General Information
Standard status
Active
Size
4,100 SF
Total Parking Spaces
2
Lot size
0.10 Acres
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,242
Amenities
fireplace
outdoor living area
rooftop decks
solar panels
Building Details
Building Size
4,100 SF
Year Built
2019
Buildings
1
Construction
contemporary
Listing Agency:
LIV Sotheby's International Realty
(303) 810-0474
Listed By:
Kate Perry
(303) 810-0474
Source:
Guidere
Added: Aug 4
Changed: Aug 10
Last Checked: Aug 10 at 9:26AM
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.
Built in 2019, this contemporary duplex provides nearly 4,200 square feet of living space on a 4,216-square-foot lot. The three-bedroom, five-bath layout includes an open main level with dining, sitting, kitchen, and family room areas. The kitchen is equipped with marble countertops, extensive cabinetry, a Viking refrigerator and freezer, an induction range, wet bar, and beverage cooler. Wide-plank engineered hardwood floors, a stone gas fireplace, and abundant natural light add to the interior finish package.
The upper levels include a primary suite with covered balcony, walk-in closet, and five-piece bath, plus a secondary bedroom with ensuite bath. A third-floor loft offers office, playroom, or fitness-room use and could be converted into a fourth conforming bedroom. The finished basement has 9-foot ceilings, a recreation and game room, guest suite, and full bath. Exterior features include dual rooftop decks, an outdoor living area with pergola and gas firepit, and a detached two-car garage. The property is minutes from Platt Park, DU, Harvard Gulch, Wash Park, Cherry Creek, Downtown Denver, and Littleton.
The upper levels include a primary suite with covered balcony, walk-in closet, and five-piece bath, plus a secondary bedroom with ensuite bath. A third-floor loft offers office, playroom, or fitness-room use and could be converted into a fourth conforming bedroom. The finished basement has 9-foot ceilings, a recreation and game room, guest suite, and full bath. Exterior features include dual rooftop decks, an outdoor living area with pergola and gas firepit, and a detached two-car garage. The property is minutes from Platt Park, DU, Harvard Gulch, Wash Park, Cherry Creek, Downtown Denver, and Littleton.
Key Highlights
- Nearly 4,200 square feet of living space on a 4,216‑square‑foot lot
- Three bedrooms and five bathrooms, including a primary suite with five‑piece bath
- Dual rooftop decks with Front Range views and gas plumbing for a firepit
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
$69,798
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
5.27%
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%
$1,395,960
$1.4M
Cap Rate 7%
$997,114
$997.1K
Cap Rate 9%
$775,533
$775.5K
Market Conditions
NOI Build-Up for 4,200 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
$105.8K $25.20/SF
− Vacancy
−$6.1K −$1.46/SF
EGI
$99.7K $23.74/SF
− OpEx
−$29.9K −$7.12/SF
NOI
$69.8K $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%
$1,395,960
Cap Rate 7%
$997,114
Cap Rate 9%
$775,533
Alternative Uses
Best Use
Multifamily LT 5
$997.1K
$872.5K – $1.16M
NOI $69,798 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$911.0K
$797.1K – $1.06M
NOI $63,771 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,591 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,025
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
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 - The residence features a finished basement, detached two-car garage, and owned solar panels.
Where is this duplex located?
The property is located at 2229 S Sherman St Denver, CO.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Nearly 4,200 square feet of living space on a 4,216‑square‑foot lot; Three bedrooms and five bathrooms, including a primary suite with five‑piece bath; Dual rooftop decks with Front Range views and gas plumbing for a firepit
