Renovated-Suite Duplex with Mountain
For Sale
$1,670,000
454 Ensign Drive #A, Dillon, CO 80435
Mountain and lake views complement a low-maintenance residence with a private deck and garage.
Property Size2,874 SF
Days on Market53
Property Features for 454 Ensign Drive #A
General Information
Standard status
Active
Size
2,874 SF
Total Parking Spaces
2
Property subtype
Duplex
Building Details
Building Size
2,874 SF
Year Built
1993
Buildings
1
Stories
3
Listing Agency:
Modus Real Estate
(303) 974-4717
Listed By:
Amanda S. Watkins
Source:
Coloradopartners
Added: Jul 1
Changed: Aug 11
Last Checked: Aug 21 at 1:36PM
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 Modus Real Estate
Investment Insights
Based on property information with market context.
This duplex, built in 1993, includes three bedrooms and a fully renovated primary suite on the top floor. The suite opens to a private deck with northwest-facing views toward Lake Dillon and the Ten Mile Range. A two-car garage provides dedicated space for vehicles and outdoor equipment.
Located in Dillon, the property is near Lake Dillon, the Dillon Amphitheater, and Colorado ski resorts. Boating, paddleboarding, sailing, cycling, and other seasonal recreation are identified as part of the surrounding setting. The residence is presented as suitable for full-time living, a mountain getaway, or an investment property.
Located in Dillon, the property is near Lake Dillon, the Dillon Amphitheater, and Colorado ski resorts. Boating, paddleboarding, sailing, cycling, and other seasonal recreation are identified as part of the surrounding setting. The residence is presented as suitable for full-time living, a mountain getaway, or an investment property.
Key Highlights
- Duplex with three bedrooms and a fully renovated top‑floor primary suite
- Private deck with northwest‑facing views of Lake Dillon and the Ten Mile Range
- Two‑car garage for vehicles and outdoor gear
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
$47,909
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
2.87%
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%
$958,180
$958.2K
Cap Rate 7%
$684,414
$684.4K
Cap Rate 9%
$532,322
$532.3K
Market Conditions
NOI Build-Up for 2,874 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
$72.4K $25.20/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$68.4K $23.81/SF
− OpEx
−$20.5K −$7.14/SF
NOI
$47.9K $16.67/SF
Area
Summit County, CO
Vacancy
5.50%
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%
$958,180
Cap Rate 7%
$684,414
Cap Rate 9%
$532,322
Alternative Uses
Best Use
Multifamily LT 5
$684.4K
$598.9K – $798.5K
NOI $47,909 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$632.0K
$553.0K – $737.4K
NOI $44,242 @ 7.0% cap · market cap 2.65%
Theoretical Best
Warehouse
$57.20M
$50.05M – $66.74M
NOI $4,004,244 @ 7.0% cap · market cap 239.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 80435, CO
8,344
Population
7,778
Households
1.1
Avg Household Size
36
Median Age
53%
College-Educated
97%
High-School Grad
104.0 sq mi
ZIP Area
80
Density / Sq Mi
$86,023
Median Household Income
$48,554
Median Earnings
$1,539
Median Rent
$882,100
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 - Mountain and lake views complement a low-maintenance residence with a private deck and garage.
Where is this duplex located?
The property is located at 454 Ensign Drive #A Dillon, CO.
What is the asking price?
The asking price for this property is $1,670,000.
What are key features of this property?
This property features: Duplex with three bedrooms and a fully renovated top‑floor primary suite; Private deck with northwest‑facing views of Lake Dillon and the Ten Mile Range; Two‑car garage for vehicles and outdoor gear
