Split-Level
For Sale
$419,000
235 Cottonwood Drive, Silt, CO 81652
Residential, Silt, CO
Property Size1,632 SF
Lot Size0.09 Acres
Price / SF$256.74
Days on Market16
Property Features for 235 Cottonwood Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SFR
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 2
Parking
3
Parking features
Assigned
Basement
Finished
Subdivision
Tara
Lot features
Landscaped
Directions
North on 1st Street to Home Avenue-Left on Home to Cottonwood-Right on Cottonwood to property on the left.
Standard status
Active
APN
217909105026
Size
1,632 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SECTION: 9 TOWNSHIP: 6 RANGE: 92 SUBDIVISION: TARA SUB BLOCK: 2 LOT: 10A
Tax Annual Amount
2060
Legal Description
SECTION: 9 TOWNSHIP: 6 RANGE: 92 SUBDIVISION: TARA SUB BLOCK: 2 LOT: 10A
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
fenced yard
storage shed
Building Details
Year built
1984
Floors in Building
2
Building materials
Wood Siding, Frame
Roof type
Composition
Architectural style
Split Level
Additional Structures
Outbuilding
Listing Agency:
FreeByrd Real Estate
(970) 984-9384
Listed By:
Jennie A Marcotte · License #EI1032545
(970) 379-3232
Added: Aug 11
Changed: Aug 25
Last Checked: Aug 26 at 6:06AM
MLS# 194162
Copyright © 2026 Aspen Glenwood MLS. 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.
This 1,632-square-foot duplex in Silt offers a split-level arrangement with three bedrooms, two bathrooms, and a lower level containing a bedroom, bathroom, and family room. Built in 1984, the property features wood siding and frame construction, natural-gas forced-air heating, a composition roof, assigned parking, and public water service. The 0.09-acre lot includes a fenced yard and storage shed.
Located at 235 Cottonwood Drive, the property is within easy walking distance of Tara Park, Elk Creek Elementary, and Silt's “Cowboy Church.” The listing also specifies SFR zoning and no HOA.
Located at 235 Cottonwood Drive, the property is within easy walking distance of Tara Park, Elk Creek Elementary, and Silt's “Cowboy Church.” The listing also specifies SFR zoning and no HOA.
Key Highlights
- 1,632‑square‑foot duplex on a 0.09‑acre lot
- Three bedrooms and two bathrooms in a split‑level layout
- Lower level includes a bedroom, bathroom, and family room
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
$21,375
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
5.10%
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%
$427,500
$427.5K
Cap Rate 7%
$305,357
$305.4K
Cap Rate 9%
$237,500
$237.5K
Market Conditions
NOI Build-Up for 1,632 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
$32.3K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.5K $18.71/SF
− OpEx
−$9.2K −$5.61/SF
NOI
$21.4K $13.10/SF
Area
Garfield County, CO
Vacancy
5.50%
Lease Rate
$19.80 /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%
$427,500
Cap Rate 7%
$305,357
Cap Rate 9%
$237,500
Alternative Uses
Best Use
Multifamily LT 5
$305.4K
$267.2K – $356.3K
NOI $21,375 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$285.1K
$249.5K – $332.6K
NOI $19,956 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$427.4K
$374.0K – $498.6K
NOI $29,918 @ 7.0% cap · market cap 7.14%
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
153
Businesses Nearby
Explore this area
Business Placement
Demographics for 81652, CO
5,801
Population
2,223
Households
2.6
Avg Household Size
36
Median Age
26%
College-Educated
89%
High-School Grad
105.4 sq mi
ZIP Area
55
Density / Sq Mi
$97,760
Median Household Income
$47,561
Median Earnings
$2,030
Median Rent
$505,200
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 - Fenced yard and storage shed support practical outdoor use and additional belongings storage.
Where is this duplex located?
The property is located at 235 Cottonwood Drive Silt, CO.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: 1,632‑square‑foot duplex on a 0.09‑acre lot; Three bedrooms and two bathrooms in a split‑level layout; Lower level includes a bedroom, bathroom, and family room
