New-Construction Duplex with Rooftop
For Sale
$849,000
2349 S High St, Denver, CO 80210
Brand-new construction offers flexible living areas, a private outdoor terrace, detached garage, and proximity to transit and University of Denver.
Property Size2,018 SF
Days on Market31
Property Features for 2349 S High St
General Information
Standard status
Active
Size
2,018 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Amenities
rooftop patio
Building Details
Building Size
2,018 SF
Year Built
2025
Listing Agency:
Compass - Denver
(720) 308-2615
Listed By:
Rachel Gallegos · License #100002255
(720) 308-2615
Source:
Guidere
Added: Jul 30
Changed: Aug 24
Last Checked: Aug 29 at 4:39PM
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 Compass - Denver
Investment Insights
Based on property information with market context.
Completed in 2025, this duplex residence combines contemporary finishes with a versatile multi-level layout. The main floor pairs an open kitchen with the living and dining areas, while large windows bring natural light into the interior. Upstairs are two bedrooms, a full bathroom, and laundry. A separate flex room on the third level can accommodate office, fitness, media, or lounge use and opens to a private rooftop-style patio. The primary suite includes an en-suite bathroom with dual vanities. Finished lower-level space adds another bedroom, full bathroom, and living area for guests, recreation, remote work, or extended stays. A detached garage provides secure parking and storage.
The property is located at 2349 S High St in Denver, near the University of Denver, RTD light rail, restaurants, coffee shops, parks, shopping, and everyday services. Cherry Creek, Downtown Denver, and the Denver Tech Center are also identified as accessible from the property.
The property is located at 2349 S High St in Denver, near the University of Denver, RTD light rail, restaurants, coffee shops, parks, shopping, and everyday services. Cherry Creek, Downtown Denver, and the Denver Tech Center are also identified as accessible from the property.
Key Highlights
- Newly constructed duplex residence completed in 2025
- Private rooftop‑style patio connected to third‑level flex space
- Finished basement with bedroom, full bath, and additional living area
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
$33,536
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
3.95%
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%
$670,720
$670.7K
Cap Rate 7%
$479,086
$479.1K
Cap Rate 9%
$372,622
$372.6K
Market Conditions
NOI Build-Up for 2,018 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
$50.9K $25.20/SF
− Vacancy
−$2.9K −$1.46/SF
EGI
$47.9K $23.74/SF
− OpEx
−$14.4K −$7.12/SF
NOI
$33.5K $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%
$670,720
Cap Rate 7%
$479,086
Cap Rate 9%
$372,622
Alternative Uses
Best Use
Multifamily LT 5
$479.1K
$419.2K – $558.9K
NOI $33,536 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$437.7K
$383.0K – $510.7K
NOI $30,641 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$642.4K
$562.1K – $749.5K
NOI $44,968 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,685
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Brand-new construction offers flexible living areas, a private outdoor terrace, detached garage, and proximity to transit and University of Denver.
Where is this duplex located?
The property is located at 2349 S High St Denver, CO.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Newly constructed duplex residence completed in 2025; Private rooftop‑style patio connected to third‑level flex space; Finished basement with bedroom, full bath, and additional living area
