Updated Duplex with Historic
For Sale
$1,185,000
4008 N Raleigh St, Denver, CO 80212
Two-level residential income property with renovated interiors, private outdoor space, and detached garage access.
Property Size2,880 SF
Days on Market54
Property Features for 4008 N Raleigh St
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Duplex
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,404
Amenities
covered front porch
fireplace
private backyard
private balcony
garden beds
detached garage
Building Details
Building Size
2,880 SF
Year Built
2005
Buildings
1
Construction
Victorian-style
Listing Agency:
Redfin Corporation
(248) 431-0806
Listed By:
Gary Johnson
(248) 431-0806
Source:
Corken
Added: Jul 10
Changed: Aug 31
Last Checked: Aug 31 at 9:24PM
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.
This duplex combines a 2005 construction date with a character-forward residential design and extensive interior updates. The home includes refinished hardwood flooring, large windows, plantation shutters, a fireplace, dining space, and a remodeled kitchen equipped with Bosch appliances, Calcutta Venice quartz countertops, a porcelain 30-inch farmhouse sink, and custom cabinetry. A mudroom connects to the private backyard, while the upper level includes a primary suite with balcony access and a five-piece bath. Additional bedrooms, a Jack-and-Jill bath, and a finished basement with a family room provide flexible living space. Laundry hookups are located on both upper and lower levels.
Outdoor features include a covered front porch, private patio, garden beds, string lighting, and access to a detached garage. Building updates include exterior paint and trim, HVAC, furnace, and A/C installed in 2021, a 2021 water heater, a 2024 sump pump, and a 2024 microwave. The property is located at 4008 N Raleigh St in Denver, near Tennyson Street shopping and restaurants, neighborhood parks, daycares, and elementary schools.
Outdoor features include a covered front porch, private patio, garden beds, string lighting, and access to a detached garage. Building updates include exterior paint and trim, HVAC, furnace, and A/C installed in 2021, a 2021 water heater, a 2024 sump pump, and a 2024 microwave. The property is located at 4008 N Raleigh St in Denver, near Tennyson Street shopping and restaurants, neighborhood parks, daycares, and elementary schools.
Key Highlights
- Duplex constructed in 2005 with updated interiors and residential income use
- Kitchen includes Bosch appliances, quartz countertops, custom cabinetry, and a 30‑inch farmhouse sink
- Finished basement with fourth bedroom and expansive family room
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
$47,862
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
4.04%
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%
$957,240
$957.2K
Cap Rate 7%
$683,743
$683.7K
Cap Rate 9%
$531,800
$531.8K
Market Conditions
NOI Build-Up for 2,880 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
$72.6K $25.20/SF
− Vacancy
−$4.2K −$1.46/SF
EGI
$68.4K $23.74/SF
− OpEx
−$20.5K −$7.12/SF
NOI
$47.9K $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%
$957,240
Cap Rate 7%
$683,743
Cap Rate 9%
$531,800
Alternative Uses
Best Use
Multifamily LT 5
$683.7K
$598.3K – $797.7K
NOI $47,862 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$624.7K
$546.6K – $728.8K
NOI $43,729 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$916.8K
$802.2K – $1.07M
NOI $64,177 @ 7.0% cap · market cap 5.42%
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
1,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 80212, CO
20,397
Population
10,870
Households
1.9
Avg Household Size
38
Median Age
64%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
5,666
Density / Sq Mi
$118,692
Median Household Income
$76,379
Median Earnings
$1,714
Median Rent
$705,300
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 - Two-level residential income property with renovated interiors, private outdoor space, and detached garage access.
Where is this duplex located?
The property is located at 4008 N Raleigh St Denver, CO.
What is the asking price?
The asking price for this property is $1,185,000.
What are key features of this property?
This property features: Duplex constructed in 2005 with updated interiors and residential income use; Kitchen includes Bosch appliances, quartz countertops, custom cabinetry, and a 30‑inch farmhouse sink; Finished basement with fourth bedroom and expansive family room
