Brick Duplex With Private
For Sale
$350,000
232 S Lowell Blvd, Denver, CO 80219
Updated kitchen, two bedrooms, and alley-access parking support practical urban living.
Property Size784 SF
Days on Market11
Property Features for 232 S Lowell Blvd
General Information
Standard status
Active
Size
784 SF
Total Parking Spaces
2
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,767
Amenities
automatic sprinkler systems
stackable washer and dryer
fully fenced backyard
Building Details
Building Size
784 SF
Year Built
1963
Construction
brick
Listing Agency:
Your Castle Real Estate Inc
(970) 978-6844
Listed By:
Kendall Dallow
(970) 978-6844
Source:
Guidere
Added: Aug 19
Changed: Aug 24
Last Checked: Aug 29 at 3:24PM
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 Your Castle Real Estate Inc
Investment Insights
Based on property information with market context.
This 1/2 duplex is a brick residential income property built in 1963, with a main-floor layout containing two bedrooms and one full bathroom. The interior includes an open living and dining area, luxury vinyl plank flooring, contemporary window blinds, and an updated kitchen with modern finishes and storage. A stackable washer and dryer are included.
Outdoor features include a front lawn, fully fenced rear yard, and automatic sprinkler systems serving both areas. Alley access leads to two dedicated off-street parking spaces. The property is near Cedar Park, Ruth Lucille Dreiling Park, the Ross-Barnum Branch Library, and local restaurants, with access to 6th Avenue, I-25, Santa Fe Drive, and Downtown Denver. No HOA fees are reported.
Outdoor features include a front lawn, fully fenced rear yard, and automatic sprinkler systems serving both areas. Alley access leads to two dedicated off-street parking spaces. The property is near Cedar Park, Ruth Lucille Dreiling Park, the Ross-Barnum Branch Library, and local restaurants, with access to 6th Avenue, I-25, Santa Fe Drive, and Downtown Denver. No HOA fees are reported.
Key Highlights
- Brick 1/2 duplex built in 1963
- Two bedrooms and one full bathroom on the main floor
- Updated kitchen with modern finishes and 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
$11,478
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
3.28%
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%
$229,560
$229.6K
Cap Rate 7%
$163,971
$164.0K
Cap Rate 9%
$127,533
$127.5K
Market Conditions
NOI Build-Up for 784 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
$17.4K $22.20/SF
− Vacancy
−$1.0K −$1.29/SF
EGI
$16.4K $20.91/SF
− OpEx
−$4.9K −$6.27/SF
NOI
$11.5K $14.64/SF
Area
ZIP 80219
Vacancy
5.79%
Lease Rate
$22.20 /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%
$229,560
Cap Rate 7%
$163,971
Cap Rate 9%
$127,533
Alternative Uses
Best Use
Multifamily LT 5
$164.0K
$143.5K – $191.3K
NOI $11,478 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$150.6K
$131.8K – $175.7K
NOI $10,544 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$223.6K
$195.7K – $260.9K
NOI $15,655 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Explore this area
Business Placement
Demographics for 80219, CO
61,585
Population
21,729
Households
2.8
Avg Household Size
33
Median Age
22%
College-Educated
72%
High-School Grad
7.4 sq mi
ZIP Area
8,322
Density / Sq Mi
$67,325
Median Household Income
$41,153
Median Earnings
$1,464
Median Rent
$426,200
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 - Updated kitchen, two bedrooms, and alley-access parking support practical urban living.
Where is this duplex located?
The property is located at 232 S Lowell Blvd Denver, CO.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Brick 1/2 duplex built in 1963; Two bedrooms and one full bathroom on the main floor; Updated kitchen with modern finishes and storage
