Finished-Basement Duplex
For Sale
$822,000
2657 S Sherman St, Denver, CO 80210
Mediterranean-inspired half-duplex with updated windows, two HVAC systems, and a finished walk-out lower level.
Property Size2,967 SF
Days on Market260
Property Features for 2657 S Sherman St
General Information
Standard status
Active
Size
2,967 SF
Property subtype
Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,908
Amenities
fireplaces
gourmet kitchen
walk-in pantry
media room
upstairs laundry
finished walk-out basement
low-maintenance backyard
Building Details
Building Size
2,967 SF
Year Built
2007
Construction
Mediterranean
Listing Agency:
Keller Williams DTC
(303) 887-8985
Listed By:
Cindy Engel
(303) 887-8985
Source:
Guidere
Added: Dec 12, 2025
Changed: Aug 25
Last Checked: Aug 29 at 4:11PM
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 Keller Williams DTC
Investment Insights
Based on property information with market context.
This half-duplex, built in 2007, combines Mediterranean-inspired detailing with substantial interior improvements. The home includes Saltillo-tiled stairs, solid pine doors, ironwork accents, two tumbled-travertine fireplaces, and a kitchen with JennAir appliances, slab granite counters, cherry cabinetry, and a walk-in pantry. The primary suite features mountain views, a private fireplace, a five-piece bath, and a walk-in closet. Upstairs laundry adds convenience, while the finished walk-out basement provides guest quarters, a media room, two laundry rooms, high ceilings, and extensive storage.
Recent work includes Renewal by Andersen windows, a replacement main-level back door, French doors in the primary bedroom, and full interior painting. Two separate HVAC systems serve the home. The property was pre-inspected through a Certified Pre-Owned Home Program and includes a one-year American Home Shield SHIELDPLUS Buyer Protection Plan.
At 2657 S Sherman St in Denver, the home sits one-half block from Kunming Park and near Harvard Gulch Golf Course, Porter Hospital, Downing Street shops and dining, Rosedale Community Gardens, and the South Broadway Mile. The backyard is designed for low-maintenance outdoor use.
Recent work includes Renewal by Andersen windows, a replacement main-level back door, French doors in the primary bedroom, and full interior painting. Two separate HVAC systems serve the home. The property was pre-inspected through a Certified Pre-Owned Home Program and includes a one-year American Home Shield SHIELDPLUS Buyer Protection Plan.
At 2657 S Sherman St in Denver, the home sits one-half block from Kunming Park and near Harvard Gulch Golf Course, Porter Hospital, Downing Street shops and dining, Rosedale Community Gardens, and the South Broadway Mile. The backyard is designed for low-maintenance outdoor use.
Key Highlights
- Finished walk‑out basement with guest quarters, media room, two laundry rooms, high ceilings, and storage
- 2007‑built half‑duplex with two separate HVAC systems
- Kitchen includes JennAir appliances, slab granite counters, cherry cabinetry, 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
$49,308
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
6.00%
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%
$986,160
$986.2K
Cap Rate 7%
$704,400
$704.4K
Cap Rate 9%
$547,867
$547.9K
Market Conditions
NOI Build-Up for 2,967 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
$74.8K $25.20/SF
− Vacancy
−$4.3K −$1.46/SF
EGI
$70.4K $23.74/SF
− OpEx
−$21.1K −$7.12/SF
NOI
$49.3K $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%
$986,160
Cap Rate 7%
$704,400
Cap Rate 9%
$547,867
Alternative Uses
Best Use
Multifamily LT 5
$704.4K
$616.4K – $821.8K
NOI $49,308 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$643.6K
$563.1K – $750.8K
NOI $45,050 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$944.5K
$826.4K – $1.10M
NOI $66,115 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,780
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 - Mediterranean-inspired half-duplex with updated windows, two HVAC systems, and a finished walk-out lower level.
Where is this duplex located?
The property is located at 2657 S Sherman St Denver, CO.
What is the asking price?
The asking price for this property is $822,000.
What are key features of this property?
This property features: Finished walk‑out basement with guest quarters, media room, two laundry rooms, high ceilings, and storage; 2007‑built half‑duplex with two separate HVAC systems; Kitchen includes JennAir appliances, slab granite counters, cherry cabinetry, and walk‑in pantry
