Remodeled Duplex with Modern
For Sale
$735,000
4823 Eaton St, Denver, CO 80212
Two updated residences offer flexible living arrangements and access to I-70, parks, recreation, dining, and Downtown Denver.
Property Size2,086 SF
Days on Market16
Property Features for 4823 Eaton St
General Information
Standard status
Active
Size
2,086 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,482
Building Details
Building Size
2,086 SF
Year Built
1952
Listing Agency:
eXp Realty, LLC
(720) 984-5764
Listed By:
Marcia Bross · License #100083577
(720) 984-5764
Source:
Corken
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 29 at 4:25PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1952, this Denver duplex contains two separately configured residences, each with two bedrooms and one bathroom. Both units have undergone extensive remodeling, including new kitchens, renovated bathrooms, new flooring, fresh interior paint, and updated contemporary finishes. Exterior improvements include a concrete driveway, replacement garage door, refreshed landscaping, and a new deck.
The property is located at 4823 Eaton St with access to I-70 and destinations throughout the Denver metro area. Lakeside, parks, Willis Case Golf Course, Downtown Denver, dining, shopping, entertainment, and outdoor recreation are identified nearby, with mountain access also noted. The combination of two-bedroom layouts and recent interior and exterior improvements supports flexible residential use.
The property is located at 4823 Eaton St with access to I-70 and destinations throughout the Denver metro area. Lakeside, parks, Willis Case Golf Course, Downtown Denver, dining, shopping, entertainment, and outdoor recreation are identified nearby, with mountain access also noted. The combination of two-bedroom layouts and recent interior and exterior improvements supports flexible residential use.
Key Highlights
- Two‑unit duplex at 4823 Eaton St, Denver, CO 80212
- Each residence includes 2 bedrooms and 1 bathroom
- Both units feature new kitchens, remodeled bathrooms, flooring, paint, and contemporary finishes
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
$34,666
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
4.72%
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%
$693,320
$693.3K
Cap Rate 7%
$495,229
$495.2K
Cap Rate 9%
$385,178
$385.2K
Market Conditions
NOI Build-Up for 2,086 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
$52.6K $25.20/SF
− Vacancy
−$3.0K −$1.46/SF
EGI
$49.5K $23.74/SF
− OpEx
−$14.9K −$7.12/SF
NOI
$34.7K $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%
$693,320
Cap Rate 7%
$495,229
Cap Rate 9%
$385,178
Alternative Uses
Best Use
Multifamily LT 5
$495.2K
$433.3K – $577.8K
NOI $34,666 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$452.5K
$395.9K – $527.9K
NOI $31,673 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$664.0K
$581.0K – $774.7K
NOI $46,483 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,042
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 updated residences offer flexible living arrangements and access to I-70, parks, recreation, dining, and Downtown Denver.
Where is this duplex located?
The property is located at 4823 Eaton St Denver, CO.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Two‑unit duplex at 4823 Eaton St, Denver, CO 80212; Each residence includes 2 bedrooms and 1 bathroom; Both units feature new kitchens, remodeled bathrooms, flooring, paint, and contemporary finishes
