Contemporary Three-Story
For Sale
$725,000
2323 S High St, Denver, CO 80210
Open-concept half-duplex residence with upscale finishes, a private basement suite, and a covered balcony.
Property Size2,189 SF
Days on Market309
Property Features for 2323 S High St
General Information
Standard status
Active
Size
2,189 SF
Total Parking Spaces
1
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$4,322
Amenities
laundry
walk-in closet
spa-style shower
wet bar
covered balcony
Building Details
Building Size
2,189 SF
Year Built
2023
Buildings
1
Stories
3
Construction
contemporary
Listing Agency:
Build Denver Realty
(303) 317-7896
Listed By:
Andy Grant
(303) 317-7896
Source:
Guidere
Added: Oct 25, 2025
Changed: Aug 15
Last Checked: Aug 29 at 2:59PM
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 Build Denver Realty
Investment Insights
Based on property information with market context.
Built in 2023, this 3-story contemporary half-duplex combines an open interior plan with multiple distinct living areas. The main level includes an eat-in kitchen, living room, and dining area. A private basement level adds a bedroom, bathroom, living area, laundry, and kitchenette, with a semi-private entry. The second floor contains the primary suite, including a walk-in closet, double-vanity bathroom, separate toilet room, and spa-style shower, along with nearby laundry. The upper level offers a bonus room with wet bar, covered balcony, third bedroom, and full bathroom.
The property includes a one-car garage with added height for storage. It is located at 2323 S High St in Denver, within walking distance of restaurants, shops, parks, and Denver University.
The property includes a one-car garage with added height for storage. It is located at 2323 S High St in Denver, within walking distance of restaurants, shops, parks, and Denver University.
Key Highlights
- 3‑story contemporary half‑duplex built in 2023
- Private basement with bedroom, bath, living area, laundry, and kitchenette
- Primary suite with walk‑in closet, double vanity, and spa‑style shower
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
$36,378
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
5.02%
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%
$727,560
$727.6K
Cap Rate 7%
$519,686
$519.7K
Cap Rate 9%
$404,200
$404.2K
Market Conditions
NOI Build-Up for 2,189 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
$55.2K $25.20/SF
− Vacancy
−$3.2K −$1.46/SF
EGI
$52.0K $23.74/SF
− OpEx
−$15.6K −$7.12/SF
NOI
$36.4K $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%
$727,560
Cap Rate 7%
$519,686
Cap Rate 9%
$404,200
Alternative Uses
Best Use
Multifamily LT 5
$519.7K
$454.7K – $606.3K
NOI $36,378 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$474.8K
$415.5K – $554.0K
NOI $33,237 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$696.8K
$609.7K – $813.0K
NOI $48,779 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,088
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 - Open-concept half-duplex residence with upscale finishes, a private basement suite, and a covered balcony.
Where is this duplex located?
The property is located at 2323 S High St Denver, CO.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3‑story contemporary half‑duplex built in 2023; Private basement with bedroom, bath, living area, laundry, and kitchenette; Primary suite with walk‑in closet, double vanity, and spa‑style shower
