Bright Condo with Mountain
For Sale
$505,000
2960 Shadow Creek Drive #201, Boulder, CO 80303
Condo with sunset views, amenities, and convenient Boulder location.
Property Size913 SF
Price / SF$553.12
Days on Market376
Property Features for 2960 Shadow Creek Drive #201
General Information
Standard status
Active
Size
913 SF
Property subtype
Condominium
Amenities
Central Air
Forced Air
Dishwasher
Disposal
Dryer
Microwave
Oven
Refrigerator
Washer
Deck, Pool, Natural Gas Available, Electricity Available, Composition
Building Details
Building Size
913 SF
Year Built
1985
Listing Agency:
Compass - Boulder
(720) 480-7650
Listed By:
Michelle Clifford · License #IR1040607
(303) 579-1029
Source:
Kw
Added: Aug 2, 2025
Changed: Aug 8
Last Checked: Jul 16 at 7:37AM
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 - Boulder
Investment Insights
Based on property information with market context.
Located in a quiet corner of Gold Run, this bright and spacious condo offers privacy and convenience. The property features an open layout filled with natural light, designed for comfort. The kitchen includes bar seating and full-size appliances. The primary suite has dual closets and a private bath. The second bedroom provides flexible space for guests, remote work, or shared living. In-unit laundry is included, along with two reserved parking spots, one in the secure underground garage with elevator access. Residents have access to a fitness center, indoor pool, hot tub, steam room, and racquetball courts. The location provides easy access to multiple grocery stores, transit options, the Boulder Creek Path, and campus. The property is west-facing and offers views of the sunset and mountains. The property is 913 square feet.
Key Highlights
- Enjoy sunset and mountain views from your private west‑facing deck.
- Prime location near CU Boulder, grocery stores, transit, and the Boulder Creek Path.
- Full‑scale amenities including a fitness center, indoor pool, hot tub, steam room, and racquetball courts.
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
$14,387
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
2.85%
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%
$287,740
$287.7K
Cap Rate 7%
$205,529
$205.5K
Cap Rate 9%
$159,856
$159.9K
Market Conditions
NOI Build-Up for 913 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
$27.4K $30.00/SF
− Vacancy
−$1.2K −$1.35/SF
EGI
$26.2K $28.65/SF
− OpEx
−$11.8K −$12.89/SF
NOI
$14.4K $15.76/SF
Area
Boulder, CO
Vacancy
4.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$287,740
Cap Rate 7%
$205,529
Cap Rate 9%
$159,856
Alternative Uses
Best Use
Apartment 5plus
$205.5K
$179.8K – $239.8K
NOI $14,387 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$308.5K
$270.0K – $359.9K
NOI $21,596 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,180
Businesses Nearby
Explore this area
Business Placement
Demographics for 80303, CO
25,328
Population
12,583
Households
2
Avg Household Size
32
Median Age
79%
College-Educated
99%
High-School Grad
21.9 sq mi
ZIP Area
1,157
Density / Sq Mi
$77,344
Median Household Income
$31,661
Median Earnings
$1,833
Median Rent
$941,600
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?
Apartment building - Condo with sunset views, amenities, and convenient Boulder location.
Where is this apartment building located?
The property is located at 2960 Shadow Creek Drive #201 Boulder, CO.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Enjoy sunset and mountain views from your private west‑facing deck.; Prime location near CU Boulder, grocery stores, transit, and the Boulder Creek Path.; Full‑scale amenities including a fitness center, indoor pool, hot tub, steam room, and racquetball courts.
