Brick Victorian
For Sale
$870,000
352 Bannock St, Denver, CO 80223
The property combines a primary residence with a detached cottage, private yard, and off-street parking.
Property Size1,819 SF
Days on Market165
Property Features for 352 Bannock St
General Information
Standard status
Active
Size
1,819 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x studio
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,936
Amenities
exposed brick walls
central A/C
in-unit washer/dryer
cable outlets
WiFi
yard
basement storage
detached garage
Building Details
Building Size
1,819 SF
Year Built
1883
Buildings
2
Construction
Victorian
Listing Agency:
Redfin Corporation
(720) 244-1070
Listed By:
Andy Potarf
(720) 244-1070
Source:
Guidere
Added: Mar 18
Changed: Aug 26
Last Checked: Aug 29 at 4:24PM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
Built in 1883, this brick Victorian duplex contains two legal rental units: a two-bedroom, two-bath main residence and a detached studio-style cottage above the garage. The primary unit includes an open living, dining, and kitchen arrangement, two office areas, an updated kitchen, exposed brick, and basement storage. The cottage features vaulted ceilings, a sleeping nook, full bathroom, kitchen, central A/C, laundry, and separate living space with alley access. Both units provide central A/C, in-unit washers and dryers, full bathrooms, cable outlets, and WiFi accessibility.
The property includes a large private yard, detached two-car garage, and additional off-street parking. It is located one block from South Broadway and within minutes of the Denver Art Museum, History Colorado Center, and Denver’s 16th Street area.
The property includes a large private yard, detached two-car garage, and additional off-street parking. It is located one block from South Broadway and within minutes of the Denver Art Museum, History Colorado Center, and Denver’s 16th Street area.
Key Highlights
- Two legal rental units: a two‑bedroom main residence and detached studio‑style cottage
- Detached cottage positioned above a two‑car garage with alley access
- Main residence includes two bedrooms, two bathrooms, two office spaces, and basement storage
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
$30,229
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
3.47%
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%
$604,580
$604.6K
Cap Rate 7%
$431,843
$431.8K
Cap Rate 9%
$335,878
$335.9K
Market Conditions
NOI Build-Up for 1,819 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
$45.8K $25.20/SF
− Vacancy
−$2.7K −$1.46/SF
EGI
$43.2K $23.74/SF
− OpEx
−$13.0K −$7.12/SF
NOI
$30.2K $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%
$604,580
Cap Rate 7%
$431,843
Cap Rate 9%
$335,878
Alternative Uses
Best Use
Multifamily LT 5
$431.8K
$377.9K – $503.8K
NOI $30,229 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$394.6K
$345.2K – $460.3K
NOI $27,619 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$579.1K
$506.7K – $675.6K
NOI $40,534 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,104
Businesses Nearby
Explore this area
Business Placement
Demographics for 80223, CO
19,862
Population
9,532
Households
2.1
Avg Household Size
34
Median Age
46%
College-Educated
87%
High-School Grad
5.3 sq mi
ZIP Area
3,748
Density / Sq Mi
$80,461
Median Household Income
$50,567
Median Earnings
$1,650
Median Rent
$497,900
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 - The property combines a primary residence with a detached cottage, private yard, and off-street parking.
Where is this duplex located?
The property is located at 352 Bannock St Denver, CO.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Two legal rental units: a two‑bedroom main residence and detached studio‑style cottage; Detached cottage positioned above a two‑car garage with alley access; Main residence includes two bedrooms, two bathrooms, two office spaces, and basement storage
