Energy-Efficient Workforce Housing
For Sale
$620,000
Pending
275 Floradora Drive, Breckenridge, CO 80424
Residential, BRECKENRIDGE, CO
Property Size1,536 SF
Days on Market16
Property Features for 275 Floradora Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1
Pets allowed
Yes
Appliances
Dishwasher, Disposal, Microwave / Hood Combo, Range Electric, Refrigerator
Subdivision
RUNWAY NEIGHBORHOOD
View
Mountains
Standard status
Pending
APN
ND0826004
Size
1,536 SF
Taxes and HOA fees
Tax Year
2026
Utilities
Heating system
Forced Air, Electric (Heating)
Building Details
Year built
2027
Flooring type
Tile, Carpet - Full
Roof type
Asphalt
Listing Agency:
Coldwell Banker Mtn Properties · Coldwell Banker Real Estate
(970) 668-0900
Listed By:
Scott Lerner
(970) 390-6770
Added: Aug 14
Changed: Aug 26
Last Checked: Aug 29 at 9:06AM
MLS# S1071037
Copyright © 2026 Altitude REALTORS ®. 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 under-construction duplex residence at 275 Floradora Drive is scheduled for completion in late 2026 to early 2027. The 1,536-square-foot property includes three bedrooms and three bathrooms, with carpet and tile flooring, forced-air and electric heating, and an asphalt roof. Kitchen appliances include a dishwasher, disposal, microwave/hood combination, electric range, and refrigerator. Solar panels are included and are not leased.
The residence is part of the Runway Neighborhood subdivision in Breckenridge, Colorado. Deed restrictions require full-time residential occupancy; second-home and vacation-only use are not permitted. The occupant must work at least 30 hours per week in Summit County. The subdivision uses a lottery process for its residences, with restrictive covenants governing sales and occupancy.
The residence is part of the Runway Neighborhood subdivision in Breckenridge, Colorado. Deed restrictions require full-time residential occupancy; second-home and vacation-only use are not permitted. The occupant must work at least 30 hours per week in Summit County. The subdivision uses a lottery process for its residences, with restrictive covenants governing sales and occupancy.
Key Highlights
- 1,536‑square‑foot duplex residence with 3 bedrooms and 3 bathrooms
- Scheduled completion in late 2026 to early 2027
- Solar panels included and not leased
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
$25,605
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
4.13%
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%
$512,100
$512.1K
Cap Rate 7%
$365,786
$365.8K
Cap Rate 9%
$284,500
$284.5K
Market Conditions
NOI Build-Up for 1,536 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
$38.7K $25.20/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$36.6K $23.81/SF
− OpEx
−$11.0K −$7.14/SF
NOI
$25.6K $16.67/SF
Area
Summit County, CO
Vacancy
5.50%
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%
$512,100
Cap Rate 7%
$365,786
Cap Rate 9%
$284,500
Alternative Uses
Best Use
Multifamily LT 5
$365.8K
$320.1K – $426.8K
NOI $25,605 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$337.8K
$295.6K – $394.1K
NOI $23,645 @ 7.0% cap · market cap 3.81%
Theoretical Best
Warehouse
$30.57M
$26.75M – $35.67M
NOI $2,140,055 @ 7.0% cap · market cap 345.17%
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
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 80424, CO
10,474
Population
11,886
Households
0.9
Avg Household Size
38
Median Age
55%
College-Educated
94%
High-School Grad
125.9 sq mi
ZIP Area
83
Density / Sq Mi
$109,497
Median Household Income
$49,958
Median Earnings
$2,029
Median Rent
$970,000
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 - Under-construction residence with solar panels, modern finishes, and deed restrictions requiring full-time county employment occupancy.
Where is this duplex located?
The property is located at 275 Floradora Drive Breckenridge, CO.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 1,536‑square‑foot duplex residence with 3 bedrooms and 3 bathrooms; Scheduled completion in late 2026 to early 2027; Solar panels included and not leased
