Renovated Duplex with Dual
For Sale
$1,199,999
3029 Zenobia St, Denver, CO 80219
Flexible up-and-down layout with separate laundry, private suites, and multiple living arrangement options.
Property Size2,400 SF
Price / SF$499
Days on Market119
Property Features for 3029 Zenobia St
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
4
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,101
Amenities
covered patio
fountain
solar system
sprinkler system
fully fenced yard
Building Details
Buildings
1
Listing Agency:
Your Castle Real Estate Inc
(303) 726-1051
Listed By:
Laura Cowperthwaite · License #100002205
(303) 726-1051
Source:
Exprealty
Added: May 5
Changed: Aug 30
Last Checked: Aug 30 at 5:21PM
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 Your Castle Real Estate Inc
Investment Insights
Based on property information with market context.
This fully renovated duplex at 3029 Zenobia St includes approximately 2,400 square feet, four bedrooms, and four bathrooms. The up-and-down configuration provides two distinct living areas, each with a full kitchen, separate laundry, and a primary suite with an ensuite bath. The property can also function as a single residence with dual kitchens or as a primary home with an attached ADU.
Recent improvements include a 500+ square foot addition, new double-paned windows, five egress windows, a new roof, furnace, A/C, electrical panel, and 220V garage power. An 8.3kW solar system adds to the property’s upgraded infrastructure. Exterior features include professionally landscaped front and back yards, sprinkler and drip irrigation, a covered patio, backyard fountain, and fully fenced grounds.
Parking includes a detached two-car garage and two additional off-street spaces.
Recent improvements include a 500+ square foot addition, new double-paned windows, five egress windows, a new roof, furnace, A/C, electrical panel, and 220V garage power. An 8.3kW solar system adds to the property’s upgraded infrastructure. Exterior features include professionally landscaped front and back yards, sprinkler and drip irrigation, a covered patio, backyard fountain, and fully fenced grounds.
Parking includes a detached two-car garage and two additional off-street spaces.
Key Highlights
- Approximately 2,400 square feet with 4 bedrooms and 4 bathrooms
- Can operate as two 2 bed / 2 bath units, a residence with attached ADU, or a single‑family home
- 500+ square foot addition created two primary suites with ensuite baths
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
$35,137
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
2.93%
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%
$702,740
$702.7K
Cap Rate 7%
$501,957
$502.0K
Cap Rate 9%
$390,411
$390.4K
Market Conditions
NOI Build-Up for 2,400 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
$53.3K $22.20/SF
− Vacancy
−$3.1K −$1.29/SF
EGI
$50.2K $20.91/SF
− OpEx
−$15.1K −$6.27/SF
NOI
$35.1K $14.64/SF
Area
ZIP 80219
Vacancy
5.79%
Lease Rate
$22.20 /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%
$702,740
Cap Rate 7%
$501,957
Cap Rate 9%
$390,411
Alternative Uses
Best Use
Multifamily LT 5
$502.0K
$439.2K – $585.6K
NOI $35,137 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$461.1K
$403.5K – $537.9K
NOI $32,276 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$684.6K
$599.0K – $798.7K
NOI $47,923 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
Explore this area
Business Placement
Demographics for 80219, CO
61,585
Population
21,729
Households
2.8
Avg Household Size
33
Median Age
22%
College-Educated
72%
High-School Grad
7.4 sq mi
ZIP Area
8,322
Density / Sq Mi
$67,325
Median Household Income
$41,153
Median Earnings
$1,464
Median Rent
$426,200
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 - Flexible up-and-down layout with separate laundry, private suites, and multiple living arrangement options.
Where is this duplex located?
The property is located at 3029 Zenobia St Denver, CO.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Approximately 2,400 square feet with 4 bedrooms and 4 bathrooms; Can operate as two 2 bed / 2 bath units, a residence with attached ADU, or a single‑family home; 500+ square foot addition created two primary suites with ensuite baths
