Brick Duplex with
For Sale
$999,000
478 N Logan St, Denver, CO 80203
Two independently entered residences offer separate laundry, distinct utilities, and one home vacant at closing.
Property Size2,400 SF
Price / SF$416.25
Days on Market14
Property Features for 478 N Logan St
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,317
Listing Agency:
PMG Realty
(720) 454-8027
Listed By:
Eugeny Pomirchy · License #100081295
(720) 454-8027
Source:
Exprealty
Added: Jul 29
Changed: Aug 7
Last Checked: Aug 10 at 9:16AM
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 PMG Realty
Investment Insights
Based on property information with market context.
This brick duplex contains two self-contained residences totaling 2,400 square feet. The upper home occupies the main and second floors and includes an open living and dining arrangement, gas fireplace, main-level powder room, three bedrooms, and two upstairs full bathrooms. Its updated kitchen has granite counters and stainless steel appliances, with in-unit laundry. The garden-level residence has a private exterior entrance, one bedroom, two full bathrooms, living space with bonus area, an updated kitchen and bathrooms completed in 2024, and dedicated laundry.
The upper unit is leased through May 2027, while the garden-level home will be vacant at closing. The property provides an attached one-car garage, three off-street parking spaces, a patio, and outdoor area on a corner lot. Gas and electric are separately metered, and the property is zoned G-MU-3. Located at 478 N Logan St in Denver, it has a Walk Score of 94 with access to Speer Boulevard, Trader Joe’s, the Denver bike and trail system, South Broadway, and downtown Denver.
The upper unit is leased through May 2027, while the garden-level home will be vacant at closing. The property provides an attached one-car garage, three off-street parking spaces, a patio, and outdoor area on a corner lot. Gas and electric are separately metered, and the property is zoned G-MU-3. Located at 478 N Logan St in Denver, it has a Walk Score of 94 with access to Speer Boulevard, Trader Joe’s, the Denver bike and trail system, South Broadway, and downtown Denver.
Key Highlights
- 2,400‑square‑foot brick duplex with two independent residences
- Upper residence leased through May 2027; garden‑level unit vacant at closing
- Upper home includes 3 bedrooms, 2 full bathrooms, powder room, gas fireplace, and updated kitchen
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
$39,885
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
3.99%
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%
$797,700
$797.7K
Cap Rate 7%
$569,786
$569.8K
Cap Rate 9%
$443,167
$443.2K
Market Conditions
NOI Build-Up for 2,400 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
$60.5K $25.20/SF
− Vacancy
−$3.5K −$1.46/SF
EGI
$57.0K $23.74/SF
− OpEx
−$17.1K −$7.12/SF
NOI
$39.9K $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%
$797,700
Cap Rate 7%
$569,786
Cap Rate 9%
$443,167
Alternative Uses
Best Use
Multifamily LT 5
$569.8K
$498.6K – $664.8K
NOI $39,885 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$520.6K
$455.5K – $607.4K
NOI $36,441 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$764.0K
$668.5K – $891.3K
NOI $53,480 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,613
Businesses Nearby
Explore this area
Business Placement
Demographics for 80203, CO
22,883
Population
16,887
Households
1.4
Avg Household Size
33
Median Age
69%
College-Educated
97%
High-School Grad
1.1 sq mi
ZIP Area
20,803
Density / Sq Mi
$74,654
Median Household Income
$59,229
Median Earnings
$1,569
Median Rent
$462,500
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 independently entered residences offer separate laundry, distinct utilities, and one home vacant at closing.
Where is this duplex located?
The property is located at 478 N Logan St Denver, CO.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 2,400‑square‑foot brick duplex with two independent residences; Upper residence leased through May 2027; garden‑level unit vacant at closing; Upper home includes 3 bedrooms, 2 full bathrooms, powder room, gas fireplace, and updated kitchen
