Updated Half-Duplex Income
For Sale
$375,000
3713 N Franklin St, Denver, CO 80205
Remodeled half-duplex residence with a private backyard, off-street parking, and no HOA.
Property Size734 SF
Days on Market82
Property Features for 3713 N Franklin St
General Information
Standard status
Active
Size
734 SF
Total Parking Spaces
1
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,182
Amenities
private backyard
skylights
luxury vinyl plank flooring
stainless steel appliances
quartz countertops
tile backsplash
Building Details
Building Size
734 SF
Year Built
1890
Listing Agency:
Corcoran Perry \u0026 Co.
Listed By:
Paul Kourkoulis
(720) 838-0737
Source:
Corken
Added: Jun 19
Changed: Sep 2
Last Checked: Sep 7 at 9:33AM
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 Corcoran Perry \u0026 Co.
Investment Insights
Based on property information with market context.
This residential income property is an updated half duplex originally built in 1890. Recent improvements include new interior paint, luxury vinyl plank flooring, multiple skylights, and a remodeled kitchen with stainless steel appliances, quartz countertops, tiled backsplash, and substantial cabinet storage. The residence also includes a private backyard and an off-street parking space.
The property is near the shops, restaurants, breweries, and nightlife of RiNo and Upper Larimer. LoDo, City Park, the 38th & Blake train station, and downtown Denver are also identified as accessible from the property, with nearby options for commuting, dining, and bike travel.
The property is near the shops, restaurants, breweries, and nightlife of RiNo and Upper Larimer. LoDo, City Park, the 38th & Blake train station, and downtown Denver are also identified as accessible from the property, with nearby options for commuting, dining, and bike travel.
Key Highlights
- Updated half‑duplex residential income property
- Originally built in 1890
- Remodeled kitchen with quartz counters, tile backsplash, stainless steel appliances, and cabinet 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
$11,145
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
2.97%
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%
$222,900
$222.9K
Cap Rate 7%
$159,214
$159.2K
Cap Rate 9%
$123,833
$123.8K
Market Conditions
NOI Build-Up for 734 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
$21.6K $29.40/SF
− Vacancy
−$1.3K −$1.79/SF
EGI
$20.3K $27.61/SF
− OpEx
−$9.1K −$12.42/SF
NOI
$11.1K $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%
$222,900
Cap Rate 7%
$159,214
Cap Rate 9%
$123,833
Alternative Uses
Best Use
Apartment 5plus
$159.2K
$139.3K – $185.8K
NOI $11,145 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$233.7K
$204.5K – $272.6K
NOI $16,356 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,798
Businesses Nearby
Explore this area
Business Placement
Demographics for 80205, CO
34,967
Population
19,040
Households
1.8
Avg Household Size
34
Median Age
61%
College-Educated
94%
High-School Grad
4.6 sq mi
ZIP Area
7,602
Density / Sq Mi
$98,770
Median Household Income
$69,760
Median Earnings
$1,816
Median Rent
$627,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Remodeled half-duplex residence with a private backyard, off-street parking, and no HOA.
Where is this residential income property located?
The property is located at 3713 N Franklin St Denver, CO.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Updated half‑duplex residential income property; Originally built in 1890; Remodeled kitchen with quartz counters, tile backsplash, stainless steel appliances, and cabinet storage
