Duplex with Finished Lower
New
For Sale
$1,165,000
3727 W 37th Ave, Denver, CO 80211
Remodeled kitchen, private yard, vaulted ceilings, and a front porch support flexible residential use.
Property Size2,566 SF
Days on Market5
Property Features for 3727 W 37th Ave
General Information
Standard status
Active
Size
2,566 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,012
Amenities
front porch
private yard
mini putting green
wet bar
recreation space
Building Details
Building Size
2,566 SF
Year Built
2004
Buildings
1
Listing Agency:
Compass - Denver
(303) 884-0084
Listed By:
Anne Singleton · License #40031634
(303) 884-0084
Source:
Corken
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 8:31AM
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 Compass - Denver
Investment Insights
Based on property information with market context.
Built in 2004, this duplex is arranged with generous living areas and a traditional residential presentation. The main level features an oversized living room, remodeled kitchen, dining area, updated lighting, and a large front porch. The upper level includes three bedrooms and two baths, with vaulted ceilings, substantial closet space, and a primary suite with a five-piece bath.
A finished lower level adds a fourth bedroom, renovated bathroom, wet bar, tall ceilings, and expansive recreation space. Outside, the property includes an unusually large yard with substantial privacy from the adjoining home, along with room for outdoor dining, entertaining, gardening, and a mini putting green. The property is located near Edison Elementary, Highlands Square, Tennyson Street, and Sloan's Lake, with coffee, dining, shops, parks, and schools within walking distance.
A finished lower level adds a fourth bedroom, renovated bathroom, wet bar, tall ceilings, and expansive recreation space. Outside, the property includes an unusually large yard with substantial privacy from the adjoining home, along with room for outdoor dining, entertaining, gardening, and a mini putting green. The property is located near Edison Elementary, Highlands Square, Tennyson Street, and Sloan's Lake, with coffee, dining, shops, parks, and schools within walking distance.
Key Highlights
- Duplex built in 2004
- Finished lower level with fourth bedroom, renovated bathroom, wet bar, and recreation space
- Upper level offers three bedrooms and two baths
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
$42,643
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
3.66%
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%
$852,860
$852.9K
Cap Rate 7%
$609,186
$609.2K
Cap Rate 9%
$473,811
$473.8K
Market Conditions
NOI Build-Up for 2,566 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
$64.7K $25.20/SF
− Vacancy
−$3.7K −$1.46/SF
EGI
$60.9K $23.74/SF
− OpEx
−$18.3K −$7.12/SF
NOI
$42.6K $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%
$852,860
Cap Rate 7%
$609,186
Cap Rate 9%
$473,811
Alternative Uses
Best Use
Multifamily LT 5
$609.2K
$533.0K – $710.7K
NOI $42,643 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$556.6K
$487.0K – $649.4K
NOI $38,961 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$816.9K
$714.8K – $953.0K
NOI $57,180 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,802
Businesses Nearby
Explore this area
Business Placement
Demographics for 80211, CO
37,940
Population
20,973
Households
1.8
Avg Household Size
34
Median Age
71%
College-Educated
92%
High-School Grad
4.5 sq mi
ZIP Area
8,431
Density / Sq Mi
$117,685
Median Household Income
$78,573
Median Earnings
$1,931
Median Rent
$747,800
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 - Remodeled kitchen, private yard, vaulted ceilings, and a front porch support flexible residential use.
Where is this duplex located?
The property is located at 3727 W 37th Ave Denver, CO.
What is the asking price?
The asking price for this property is $1,165,000.
What are key features of this property?
This property features: Duplex built in 2004; Finished lower level with fourth bedroom, renovated bathroom, wet bar, and recreation space; Upper level offers three bedrooms and two baths
