Permitted Half
For Sale
$399,900
3662 Grape St, Denver, CO 80207
Updated systems, a fenced patio, and dedicated off-street parking support practical residential use.
Property Size882 SF
Days on Market54
Property Features for 3662 Grape St
General Information
Standard status
Active
Size
882 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$1,800
Building Details
Building Size
882 SF
Year Built
1955
Listing Agency:
7281 Real Estate
(720) 334-1034
Listed By:
Shawn Kane
(720) 334-1034
Source:
Corken
Added: Jul 9
Changed: Aug 31
Last Checked: Aug 31 at 2:39AM
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 7281 Real Estate
Investment Insights
Based on property information with market context.
This fully permitted half duplex combines a two-bedroom layout with a spacious bathroom featuring dual sinks. The interior includes original hardwood floors, quartz countertops, banquet dining, custom shelving, new appliances, and an open floor plan. A modernized finish palette is paired with practical improvements throughout the residence.
Recent property updates include a new roof, air-conditioning system, electrical panel, complete rewiring, plumbing, sewer line, and windows. The home also offers a fenced patio and two dedicated off-street parking spaces.
Recent property updates include a new roof, air-conditioning system, electrical panel, complete rewiring, plumbing, sewer line, and windows. The home also offers a fenced patio and two dedicated off-street parking spaces.
Key Highlights
- Fully permitted half duplex with two bedrooms
- Two dedicated off‑street parking spaces
- Fenced patio provides private outdoor 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
$13,392
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
3.35%
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%
$267,840
$267.8K
Cap Rate 7%
$191,314
$191.3K
Cap Rate 9%
$148,800
$148.8K
Market Conditions
NOI Build-Up for 882 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
$25.9K $29.40/SF
− Vacancy
−$1.6K −$1.79/SF
EGI
$24.3K $27.61/SF
− OpEx
−$11.0K −$12.42/SF
NOI
$13.4K $15.18/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$29.40 /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%
$267,840
Cap Rate 7%
$191,314
Cap Rate 9%
$148,800
Alternative Uses
Best Use
Apartment 5plus
$191.3K
$167.4K – $223.2K
NOI $13,392 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$280.8K
$245.7K – $327.6K
NOI $19,654 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 80207, CO
21,170
Population
9,291
Households
2.3
Avg Household Size
38
Median Age
61%
College-Educated
93%
High-School Grad
3.9 sq mi
ZIP Area
5,428
Density / Sq Mi
$112,325
Median Household Income
$71,163
Median Earnings
$1,819
Median Rent
$661,900
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated systems, a fenced patio, and dedicated off-street parking support practical residential use.
Where is this residential income property located?
The property is located at 3662 Grape St Denver, CO.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Fully permitted half duplex with two bedrooms; Two dedicated off‑street parking spaces; Fenced patio provides private outdoor space
