Six-Bedroom Log
For Sale
$1,699,000
232 N Side Circle, Silverthorne, CO 80498
Residential, SILVERTHORNE, CO
Property Size3,352 SF
Lot Size0.23 Acres
Price / SF$506.86
Days on Market92
Property Features for 232 N Side Circle
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 3
Pets allowed
Yes
Interior features
Ceiling Fan(s), Five Piece Bath, Jet Action Tub
Fireplace
1
Appliances
Dishwasher, Disposal, Microwave / Hood Combo, Range Electric, Refrigerator, Washer / Dryer, Gas Water Heater
Subdivision
WILDERNEST SUB
View
Mountains
Elementary school
Silverthorne
Middle school
Summit
High school
Summit
Standard status
Active
APN
602244
Size
3,352 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5555
Utilities
Heating system
Baseboard
Amenities
three decks
Building Details
Year built
1982
Flooring type
Carpet - Full, Wood, Tile
Roof type
Metal
Listing Agency:
Christie's International Real Estate CO LLC
(970) 344-9002
Listed By:
Marty Frank · License #40047855
(970) 389-5068
Added: Jun 5
Changed: Sep 4
Last Checked: Sep 4 at 7:06PM
MLS# S1069417
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.
Located at 232 N Side Circle, this 3,352-square-foot duplex combines log construction with a six-bedroom, four-bath layout. Four separate living areas support flexible use for full-time occupants, extended households, or rental guests. The 1982 property also includes three decks, a 0.23-acre lot, wood, tile, and carpet flooring, baseboard heat, a metal roof, and a fireplace. Interior features include a five-piece bath and jet-action tub, while the kitchen is equipped with a dishwasher, disposal, microwave/hood combination, electric range, refrigerator, washer/dryer, and gas water heater.
The property has direct access to adjacent public lands and a connected trail network for hiking, biking, and exploration. The Blue River is approximately five minutes away, and Breckenridge, Keystone, Copper Mountain, Arapahoe Basin, and Loveland are each within a 30-minute drive.
The property has direct access to adjacent public lands and a connected trail network for hiking, biking, and exploration. The Blue River is approximately five minutes away, and Breckenridge, Keystone, Copper Mountain, Arapahoe Basin, and Loveland are each within a 30-minute drive.
Key Highlights
- 3,352‑square‑foot duplex on a 0.23‑acre lot
- Six bedrooms, four bathrooms, and four distinct living areas
- Log construction with three decks and a fireplace
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
$55,877
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
3.29%
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%
$1,117,540
$1.1M
Cap Rate 7%
$798,243
$798.2K
Cap Rate 9%
$620,856
$620.9K
Market Conditions
NOI Build-Up for 3,352 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
$84.5K $25.20/SF
− Vacancy
−$4.6K −$1.39/SF
EGI
$79.8K $23.81/SF
− OpEx
−$23.9K −$7.14/SF
NOI
$55.9K $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%
$1,117,540
Cap Rate 7%
$798,243
Cap Rate 9%
$620,856
Alternative Uses
Best Use
Multifamily LT 5
$798.2K
$698.5K – $931.3K
NOI $55,877 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$737.1K
$645.0K – $860.0K
NOI $51,600 @ 7.0% cap · market cap 3.04%
Theoretical Best
Warehouse
$66.72M
$58.38M – $77.84M
NOI $4,670,225 @ 7.0% cap · market cap 274.88%
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
183
Businesses Nearby
Explore this area
Business Placement
Demographics for 80498, CO
8,405
Population
6,931
Households
1.2
Avg Household Size
40
Median Age
44%
College-Educated
91%
High-School Grad
294.8 sq mi
ZIP Area
29
Density / Sq Mi
$105,227
Median Household Income
$49,636
Median Earnings
$1,738
Median Rent
$721,700
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 - Expansive duplex with four living areas, three decks, generous parking, and direct access to adjacent public lands.
Where is this duplex located?
The property is located at 232 N Side Circle Silverthorne, CO.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: 3,352‑square‑foot duplex on a 0.23‑acre lot; Six bedrooms, four bathrooms, and four distinct living areas; Log construction with three decks and a fireplace
