Duplex With Detached
For Sale
$1,000,000
Pending
446 N High St, Denver, CO 80218
Two residential units include finished basements, separate cooling systems, and flexible owner-occupant or rental use.
Property Size2,188 SF
Lot Size0.19 Acres
Days on Market25
Property Features for 446 N High St
General Information
Standard status
Pending
Size
2,188 SF
Total Parking Spaces
2
Lot size
0.19 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,073
Building Details
Building Size
2,188 SF
Year Built
1924
Buildings
1
Listing Agency:
LIV Sotheby's International Realty
(303) 725-6789
Listed By:
Ann Atkinson · License #1173045
(303) 725-6789
Source:
Guidere
Added: Aug 6
Changed: Aug 21
Last Checked: Aug 29 at 3:30PM
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 LIV Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 1924 duplex includes two matching residential sides, each arranged with two bedrooms, one full bath, a living room, dining room, and kitchen on the main level. Both units extend into functional basements with family rooms, laundry areas, storage rooms, and mechanical spaces. Each side has its own mini-split cooling system, and recent work addressed the plumbing, sewer, and electrical systems.
The property occupies an 8,370-square-foot lot and includes a shared two-car detached garage. The configuration supports occupying one unit while renting the other, leasing both sides, or combining the interiors into a single-story residence, as described in the property information. The address is within walking distance of shops and restaurants in Cherry Creek and along 6th Avenue, including Oliver's Market, Satchel's, and Novo Coffee. It is also associated with the Driving Park Historic District, a voluntary neighborhood group rather than an HOA.
The property occupies an 8,370-square-foot lot and includes a shared two-car detached garage. The configuration supports occupying one unit while renting the other, leasing both sides, or combining the interiors into a single-story residence, as described in the property information. The address is within walking distance of shops and restaurants in Cherry Creek and along 6th Avenue, including Oliver's Market, Satchel's, and Novo Coffee. It is also associated with the Driving Park Historic District, a voluntary neighborhood group rather than an HOA.
Key Highlights
- Two‑unit duplex with two bedrooms and 1 full bath on each side
- Each unit includes a family room, laundry, storage, and mechanical areas in the basement
- 8,370 sf lot with shared two‑car detached garage
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
$36,362
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
3.64%
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%
$727,240
$727.2K
Cap Rate 7%
$519,457
$519.5K
Cap Rate 9%
$404,022
$404.0K
Market Conditions
NOI Build-Up for 2,188 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
$55.1K $25.20/SF
− Vacancy
−$3.2K −$1.46/SF
EGI
$51.9K $23.74/SF
− OpEx
−$15.6K −$7.12/SF
NOI
$36.4K $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%
$727,240
Cap Rate 7%
$519,457
Cap Rate 9%
$404,022
Alternative Uses
Best Use
Multifamily LT 5
$519.5K
$454.5K – $606.0K
NOI $36,362 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$474.6K
$415.3K – $553.7K
NOI $33,222 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$696.5K
$609.5K – $812.6K
NOI $48,756 @ 7.0% cap · market cap 4.88%
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
2,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 80218, CO
19,484
Population
13,116
Households
1.5
Avg Household Size
35
Median Age
72%
College-Educated
98%
High-School Grad
1.6 sq mi
ZIP Area
12,178
Density / Sq Mi
$82,925
Median Household Income
$67,570
Median Earnings
$1,475
Median Rent
$653,900
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 residential units include finished basements, separate cooling systems, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 446 N High St Denver, CO.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms and 1 full bath on each side; Each unit includes a family room, laundry, storage, and mechanical areas in the basement; 8,370 sf lot with shared two‑car detached garage
