Renovated Duplex with
For Sale
$1,125,000
303 & 307 S Gilpin Street, Denver, CO 80209
Two residential units offer private back yards, partially finished basements, and dedicated parking improvements.
Property Size4,078 SF
Days on Market32
Property Features for 303 & 307 S Gilpin Street
General Information
Standard status
Active
Size
4,078 SF
Property subtype
Multifamily
Amenities
partially finished basements
private back yards
Building Details
Building Size
4,078 SF
Year Built
1923
Listing Agency:
Pinnacle Real Estate Advisors
(303) 962-9567
Listed By:
Connor Knutson · License #100052573
Source:
Pinnaclerea
Added: Jul 30
Changed: Aug 26
Last Checked: Aug 29 at 6:13AM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
This Denver duplex includes two large two-bedroom, one-bath units with renovated interiors, partially finished basements, and private back yards. The property also includes a detached garage and one off-street parking space. A new roof is planned for Summer 2026.
Located at 303 & 307 S Gilpin Street in Denver, the property is 3 blocks from Washington Park. The two-unit configuration, basement areas, exterior space, and parking improvements support a residential income property format with an owner-occupant opportunity.
Located at 303 & 307 S Gilpin Street in Denver, the property is 3 blocks from Washington Park. The two-unit configuration, basement areas, exterior space, and parking improvements support a residential income property format with an owner-occupant opportunity.
Key Highlights
- Two large 2 Bed/1 Bath units
- Partially finished basements and private back yards
- Detached garage plus one off‑street parking space
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
$67,771
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
6.02%
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%
$1,355,420
$1.4M
Cap Rate 7%
$968,157
$968.2K
Cap Rate 9%
$753,011
$753.0K
Market Conditions
NOI Build-Up for 4,078 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
$102.8K $25.20/SF
− Vacancy
−$6.0K −$1.46/SF
EGI
$96.8K $23.74/SF
− OpEx
−$29.0K −$7.12/SF
NOI
$67.8K $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%
$1,355,420
Cap Rate 7%
$968,157
Cap Rate 9%
$753,011
Alternative Uses
Best Use
Multifamily LT 5
$968.2K
$847.1K – $1.13M
NOI $67,771 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$884.6K
$774.0K – $1.03M
NOI $61,919 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$1.30M
$1.14M – $1.51M
NOI $90,872 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,310
Businesses Nearby
Explore this area
Business Placement
Demographics for 80209, CO
27,061
Population
16,045
Households
1.7
Avg Household Size
38
Median Age
80%
College-Educated
99%
High-School Grad
3.5 sq mi
ZIP Area
7,732
Density / Sq Mi
$118,759
Median Household Income
$81,604
Median Earnings
$1,981
Median Rent
$971,500
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 - Two residential units offer private back yards, partially finished basements, and dedicated parking improvements.
Where is this duplex located?
The property is located at 303 & 307 S Gilpin Street Denver, CO.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Two large 2 Bed/1 Bath units; Partially finished basements and private back yards; Detached garage plus one off‑street parking space
