Updated Two-Unit
New
For Sale
$495,000
401 S Raleigh St, Denver, CO 80219
Residential income property with refreshed exterior and interior finishes, plus a recently installed HVAC system in Unit B.
Property Size1,341 SF
Lot Size0.15 Acres
Price / SF$369.13
Days on Market7
Property Features for 401 S Raleigh St
General Information
Standard status
Active
Size
1,341 SF
Lot size
0.15 Acres
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1960
Listing Agency:
Hart Realty Group
Listed By:
Chad Hart
Source:
Yourteamco
Added: Sep 21
Changed: Sep 25
Last Checked: Sep 26 at 11:09AM
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 Hart Realty Group
Investment Insights
Based on property information with market context.
This duplex contains two residential units with approximately 1,341 square feet of combined living space, three bedrooms, and two bathrooms. The property sits on an approximately 6,600-square-foot lot and includes separate accommodations suited to rental or owner-occupant use. Recent improvements include new siding, a new roof, new carpet, and fresh paint. Unit B also received a new HVAC system this month. Built in 1960, the property offers an established two-unit configuration with updated components and functional residential space.
Key Highlights
- Two‑unit duplex with approximately 1,341 square feet of combined living space
- Three bedrooms and two bathrooms across the property
- Approximately 6,600‑square‑foot lot
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
$19,633
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
3.97%
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%
$392,660
$392.7K
Cap Rate 7%
$280,471
$280.5K
Cap Rate 9%
$218,144
$218.1K
Market Conditions
NOI Build-Up for 1,341 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
$29.8K $22.20/SF
− Vacancy
−$1.7K −$1.29/SF
EGI
$28.0K $20.91/SF
− OpEx
−$8.4K −$6.27/SF
NOI
$19.6K $14.64/SF
Area
ZIP 80219
Vacancy
5.79%
Lease Rate
$22.20 /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%
$392,660
Cap Rate 7%
$280,471
Cap Rate 9%
$218,144
Alternative Uses
Best Use
Multifamily LT 5
$280.5K
$245.4K – $327.2K
NOI $19,633 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$257.6K
$225.4K – $300.6K
NOI $18,034 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$382.5K
$334.7K – $446.3K
NOI $26,777 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 80219, CO
61,585
Population
21,729
Households
2.8
Avg Household Size
33
Median Age
22%
College-Educated
72%
High-School Grad
7.4 sq mi
ZIP Area
8,322
Density / Sq Mi
$67,325
Median Household Income
$41,153
Median Earnings
$1,464
Median Rent
$426,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with refreshed exterior and interior finishes, plus a recently installed HVAC system in Unit B.
Where is this duplex located?
The property is located at 401 S Raleigh St Denver, CO.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 1,341 square feet of combined living space; Three bedrooms and two bathrooms across the property; Approximately 6,600‑square‑foot lot
