Remodeled Duplex with Outdoor
New
For Sale
$765,000
510 N 5th Street, Silt, CO 81652
DUPLEX - Silt, CO
Property Size2,312 SF
Lot Size0.16 Acres
Price / SF$330.88
Days on Market7
Property Features for 510 N 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 4
Subdivision
Ballard Addition
Directions
From US-6 W/Main St head North on 4th st, Turn right onto Orchard Ave, Turn left on 5th st, On right hand side.
Standard status
Active
APN
217903307006
Size
2,312 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SECTION: 3 TOWNSHIP: 6 RANGE: 92 SUBDIVISION: BALLARD ADD BLOCK: 15 LOT: 14 AND:- LOT: 15, & THE N1/2 OF LOT 13 AKA PARCEL A
Tax Annual Amount
2444
Legal Description
SECTION: 3 TOWNSHIP: 6 RANGE: 92 SUBDIVISION: BALLARD ADD BLOCK: 15 LOT: 14 AND:- LOT: 15, & THE N1/2 OF LOT 13 AKA PARCEL A
Utilities
Utilities
Natural Gas Available
Heating system
Baseboard
Cooling system
Evaporative Cooling
Water source
Public
Building Details
Year built
1980
Building materials
Wood Siding
Listing Agency:
Property Professionals
(970) 625-2255
Listed By:
Yajaira Ayala
(970) 355-9244
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 23 at 9:06AM
MLS# 194215
Copyright © 2026 Aspen Glenwood MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex at 510 N 5th Street in Silt contains 2,312 square feet of living area with four bedrooms and four full bathrooms. The property was built in 1980 and is described as fully remodeled, with wood siding, baseboard heating, and evaporative cooling. A 6,970-square-foot lot provides outdoor area and parking space, although the source data does not specify the parking configuration.
The property is zoned R-2 and served by public water, with natural gas available. Its duplex configuration and four-bedroom, four-bathroom layout support residential income use or an owner-occupant arrangement, as reflected in the property classification.
The property is zoned R-2 and served by public water, with natural gas available. Its duplex configuration and four-bedroom, four-bathroom layout support residential income use or an owner-occupant arrangement, as reflected in the property classification.
Key Highlights
- Duplex with 2,312 square feet of living area
- Four bedrooms and four full bathrooms
- 6,970‑square‑foot lot with outdoor area and parking space
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
$30,282
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
3.96%
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%
$605,640
$605.6K
Cap Rate 7%
$432,600
$432.6K
Cap Rate 9%
$336,467
$336.5K
Market Conditions
NOI Build-Up for 2,312 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
$45.8K $19.80/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$43.3K $18.71/SF
− OpEx
−$13.0K −$5.61/SF
NOI
$30.3K $13.10/SF
Area
Garfield County, CO
Vacancy
5.50%
Lease Rate
$19.80 /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%
$605,640
Cap Rate 7%
$432,600
Cap Rate 9%
$336,467
Alternative Uses
Best Use
Multifamily LT 5
$432.6K
$378.5K – $504.7K
NOI $30,282 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$403.9K
$353.4K – $471.2K
NOI $28,271 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$605.5K
$529.8K – $706.4K
NOI $42,384 @ 7.0% cap · market cap 5.54%
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
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 81652, CO
5,801
Population
2,223
Households
2.6
Avg Household Size
36
Median Age
26%
College-Educated
89%
High-School Grad
105.4 sq mi
ZIP Area
55
Density / Sq Mi
$97,760
Median Household Income
$47,561
Median Earnings
$2,030
Median Rent
$505,200
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 - Updated duplex with two residential units, public water, natural gas availability, and evaporative cooling.
Where is this duplex located?
The property is located at 510 N 5th Street Silt, CO.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Duplex with 2,312 square feet of living area; Four bedrooms and four full bathrooms; 6,970‑square‑foot lot with outdoor area and parking space
