Three-Level Duplex with Walkout
For Sale
$839,900
2321 S Galapago St, Denver, CO 80223
New-construction duplex with flexible lower-level space, dual laundry areas, and a two-car garage with alley access.
Property Size2,832 SF
Days on Market90
Property Features for 2321 S Galapago St
General Information
Standard status
Active
Size
2,832 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,176
Amenities
laundry rooms
private balcony
Building Details
Building Size
2,832 SF
Year Built
2025
Buildings
1
Stories
3
Listing Agency:
Legacy 100 Real Estate Partners LLC
(303) 503-2232
Listed By:
Ramon Vargas · License #40016606
(303) 503-2232
Source:
Corken
Added: Jun 1
Changed: Aug 28
Last Checked: Aug 29 at 2:33PM
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 Legacy 100 Real Estate Partners LLC
Investment Insights
Based on property information with market context.
Completed in 2025, this three-level duplex offers five bedrooms and four bathrooms with an open main-floor arrangement, contemporary finishes, and abundant natural light. The kitchen includes a waterfall island, extensive counter space, and a walk-in pantry. A finished walkout basement adds flexible space with potential for a kitchenette, while laundry rooms are located on both the upper level and basement floors. The primary suite includes a private balcony, and oversized coat closets add storage throughout the home. A two-car garage provides parking with alley access.
The property is located at 2321 S Galapago St in Denver’s Breenlow Park neighborhood. It backs to a park, sits near the South Platte River Trail, and is near Evans Light Rail Station, providing access to nearby outdoor and transit amenities.
The property is located at 2321 S Galapago St in Denver’s Breenlow Park neighborhood. It backs to a park, sits near the South Platte River Trail, and is near Evans Light Rail Station, providing access to nearby outdoor and transit amenities.
Key Highlights
- 2025 construction with five bedrooms and four bathrooms across three levels
- Finished walkout basement with potential for a kitchenette
- Waterfall island, expansive countertops, and walk‑in pantry
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
$47,064
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
5.60%
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%
$941,280
$941.3K
Cap Rate 7%
$672,343
$672.3K
Cap Rate 9%
$522,933
$522.9K
Market Conditions
NOI Build-Up for 2,832 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
$71.4K $25.20/SF
− Vacancy
−$4.1K −$1.46/SF
EGI
$67.2K $23.74/SF
− OpEx
−$20.2K −$7.12/SF
NOI
$47.1K $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%
$941,280
Cap Rate 7%
$672,343
Cap Rate 9%
$522,933
Alternative Uses
Best Use
Multifamily LT 5
$672.3K
$588.3K – $784.4K
NOI $47,064 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$614.3K
$537.5K – $716.7K
NOI $43,000 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$901.5K
$788.8K – $1.05M
NOI $63,107 @ 7.0% cap · market cap 7.51%
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
1,246
Businesses Nearby
Explore this area
Business Placement
Demographics for 80223, CO
19,862
Population
9,532
Households
2.1
Avg Household Size
34
Median Age
46%
College-Educated
87%
High-School Grad
5.3 sq mi
ZIP Area
3,748
Density / Sq Mi
$80,461
Median Household Income
$50,567
Median Earnings
$1,650
Median Rent
$497,900
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 - New-construction duplex with flexible lower-level space, dual laundry areas, and a two-car garage with alley access.
Where is this duplex located?
The property is located at 2321 S Galapago St Denver, CO.
What is the asking price?
The asking price for this property is $839,900.
What are key features of this property?
This property features: 2025 construction with five bedrooms and four bathrooms across three levels; Finished walkout basement with potential for a kitchenette; Waterfall island, expansive countertops, and walk‑in pantry
