Duplex with Two-Car
New
For Sale
$1,395,000
278/280 Willett Court, Steamboat Springs, CO 80487
Two three-bedroom residences offer separate living areas and kitchens in one property.
Property Size2,420 SF
Price / SF$576.45
Days on Market1
Property Features for 278/280 Willett Court
General Information
Standard status
Active
Size
2,420 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
1993
Buildings
1
Listing Agency:
Compass
Listed By:
Cheryl Foote · License #SS55043617
(970) 846-6444
Source:
Thesmitsteam
Added: Nov 1
Last Checked: Nov 1 at 3:11PM
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 Compass
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Investment Insights
Based on property information with market context.
Built in 1993, this 2,420-square-foot legal duplex contains two residences, each with an open living area and kitchen. The upper unit has three bedrooms, including a primary suite with an ensuite bathroom, plus a shared bathroom. It also opens onto a back deck overlooking a fenced yard. The lower residence has three bedrooms and one shared bathroom. An attached two-car garage has a separate bay for each unit; additional off-street parking and an outdoor storage shed are also on site.
The property is four miles from Steamboat Ski Resort and minutes from historic downtown Steamboat Springs. The nearby Spring Creek trail system and local shopping, dining, and recreation are among the stated area amenities.
The property is four miles from Steamboat Ski Resort and minutes from historic downtown Steamboat Springs. The nearby Spring Creek trail system and local shopping, dining, and recreation are among the stated area amenities.
Key Highlights
- Legal duplex with two three‑bedroom residences
- 2,420 square feet; built in 1993
- Attached two‑car garage with separate bays for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,882
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,640
$977.6K
Cap Rate 7%
$698,314
$698.3K
Cap Rate 9%
$543,133
$543.1K
Market Conditions
NOI Build-Up for 2,420 SF
Gross rent
$74.1K $30.60/SF
− Vacancy
−$4.2K −$1.74/SF
EGI
$69.8K $28.86/SF
− OpEx
−$20.9K −$8.66/SF
NOI
$48.9K $20.20/SF
Area
Routt County, CO
Vacancy
5.70%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,640
Cap Rate 7%
$698,314
Cap Rate 9%
$543,133
Alternative Uses
Best Use
Multifamily LT 5
$698.3K
$611.0K – $814.7K
NOI $48,882 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$643.4K
$563.0K – $750.7K
NOI $45,041 @ 7.0% cap · market cap 3.23%
Theoretical Best
Warehouse
$967.9K
$846.9K – $1.13M
NOI $67,753 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 80487, CO
18,209
Population
13,231
Households
1.4
Avg Household Size
42
Median Age
57%
College-Educated
97%
High-School Grad
795.8 sq mi
ZIP Area
23
Density / Sq Mi
$106,837
Median Household Income
$50,551
Median Earnings
$1,927
Median Rent
$915,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences offer separate living areas and kitchens in one property.
Where is this duplex located?
The property is located at 278/280 Willett Court Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Legal duplex with two three‑bedroom residences; 2,420 square feet; built in 1993; Attached two‑car garage with separate bays for each unit
