Duplex with Private Outdoor
New
For Sale
$649,000
318 N B Street, New Castle, CO 81647
Residential, New Castle, CO
Property Size1,804 SF
Lot Size0.48 Acres
Price / SF$359.76
Days on Market3
Property Features for 318 N B Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 2
Basement
Walk-Out Access, Finished
Subdivision
Townsite of New Castle
Directions
From Hwy 6&24 head east on B Ave and the home is at the top of the hill on the right
Standard status
Active
APN
212331104019
Size
1,804 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SECTION: 31 TOWNSHIP: 5 RANGE: 90 SUBDIVISION: SPENCERS ADD BLOCK: G LOT: 38 THRU:- LOT: 45
Tax Annual Amount
1717
Legal Description
SECTION: 31 TOWNSHIP: 5 RANGE: 90 SUBDIVISION: SPENCERS ADD BLOCK: G LOT: 38 THRU:- LOT: 45
Utilities
Utilities
Electricity Available
Heating system
Forced Air
Water source
Public
Amenities
deck
yard
off-street parking
Building Details
Year built
1972
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Coldwell Banker Mason Morse-GWS · Coldwell Banker Real Estate
(970) 928-9000
Listed By:
Joy White
(970) 366-9636
Added: Oct 28
Changed: Oct 29
Last Checked: Oct 30 at 6:06PM
MLS# 195022
Copyright © 2026 Aspen Glenwood MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,804-square-foot duplex contains two units on a 0.48-acre parcel in New Castle. Interior updates include kitchens and bathrooms, along with new paint and flooring. The upper apartment has two bedrooms and a south-facing deck; the lower unit opens to a yard with mature apple trees. Off-street parking is available, and the roof was replaced in 2022.
The property is zoned R1 and has forced-air heat, public water, and electricity available. Nearby outdoor recreation includes mountain biking and hiking, with dining options in town.
The property is zoned R1 and has forced-air heat, public water, and electricity available. Nearby outdoor recreation includes mountain biking and hiking, with dining options in town.
Key Highlights
- Two‑unit duplex with 1,804 square feet of building area
- 0.48‑acre parcel zoned R1
- Upper unit has two bedrooms and a south‑facing deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,628
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,560
$472.6K
Cap Rate 7%
$337,543
$337.5K
Cap Rate 9%
$262,533
$262.5K
Market Conditions
NOI Build-Up for 1,804 SF
Gross rent
$35.7K $19.80/SF
− Vacancy
−$2.0K −$1.09/SF
EGI
$33.8K $18.71/SF
− OpEx
−$10.1K −$5.61/SF
NOI
$23.6K $13.10/SF
Area
Garfield County, CO
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,560
Cap Rate 7%
$337,543
Cap Rate 9%
$262,533
Alternative Uses
Best Use
Multifamily LT 5
$337.5K
$295.4K – $393.8K
NOI $23,628 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$315.1K
$275.7K – $367.7K
NOI $22,059 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$472.4K
$413.4K – $551.2K
NOI $33,071 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Explore this area
Business Placement
Demographics for 81647, CO
7,445
Population
2,808
Households
2.7
Avg Household Size
37
Median Age
31%
College-Educated
95%
High-School Grad
284.9 sq mi
ZIP Area
26
Density / Sq Mi
$80,139
Median Household Income
$48,493
Median Earnings
$1,581
Median Rent
$470,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate outdoor spaces and off-street parking.
Where is this duplex located?
The property is located at 318 N B Street New Castle, CO.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,804 square feet of building area; 0.48‑acre parcel zoned R1; Upper unit has two bedrooms and a south‑facing deck
