Character-Rich Duplex with Finished
For Sale
$429,000
Pending
620 W 2nd Ave, Denver, CO 80223
Main-level floor plan offers two bedrooms and two bathrooms, with laundry and storage below.
Property Size941 SF
Days on Market93
Property Features for 620 W 2nd Ave
General Information
Standard status
Pending
Size
941 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,378
Building Details
Building Size
941 SF
Year Built
1910
Listing Agency:
RE/MAX Professionals
(303) 668-8085
Listed By:
Bill Maher · License #040009514
(303) 668-8085
Source:
Guidere
Added: May 29
Changed: Aug 26
Last Checked: Aug 29 at 4:14PM
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 RE/MAX Professionals
Investment Insights
Based on property information with market context.
Built in 1910, this Denver duplex combines preserved architectural details with contemporary interior improvements. The main level has an open arrangement linking the living, dining, and kitchen areas, along with two bedrooms and two bathrooms. Walnut flooring, exposed brick, oversized windows, custom cabinetry, decorative tile, and detailed trim add visual character. The kitchen includes granite work surfaces, stainless steel appliances, and extensive cabinet storage.
A finished basement extends the usable space with a laundry room and additional storage. The washer and dryer are included. Outside, a private fenced patio provides space for dining, gardening, or entertaining, and the property has no HOA. The residence is located at 620 W 2nd Ave in Denver’s Baker neighborhood.
A finished basement extends the usable space with a laundry room and additional storage. The washer and dryer are included. Outside, a private fenced patio provides space for dining, gardening, or entertaining, and the property has no HOA. The residence is located at 620 W 2nd Ave in Denver’s Baker neighborhood.
Key Highlights
- Duplex built in 1910
- Two bedrooms and two bathrooms on the main level
- Finished basement with laundry room and additional storage
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
$15,638
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
3.65%
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%
$312,760
$312.8K
Cap Rate 7%
$223,400
$223.4K
Cap Rate 9%
$173,756
$173.8K
Market Conditions
NOI Build-Up for 941 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
$23.7K $25.20/SF
− Vacancy
−$1.4K −$1.46/SF
EGI
$22.3K $23.74/SF
− OpEx
−$6.7K −$7.12/SF
NOI
$15.6K $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%
$312,760
Cap Rate 7%
$223,400
Cap Rate 9%
$173,756
Alternative Uses
Best Use
Multifamily LT 5
$223.4K
$195.5K – $260.6K
NOI $15,638 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$204.1K
$178.6K – $238.1K
NOI $14,288 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$299.6K
$262.1K – $349.5K
NOI $20,969 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 80223, CO
19,862
Population
9,532
Households
2.1
Avg Household Size
34
Median Age
46%
College-Educated
87%
High-School Grad
5.3 sq mi
ZIP Area
3,748
Density / Sq Mi
$80,461
Median Household Income
$50,567
Median Earnings
$1,650
Median Rent
$497,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Main-level floor plan offers two bedrooms and two bathrooms, with laundry and storage below.
Where is this duplex located?
The property is located at 620 W 2nd Ave Denver, CO.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Duplex built in 1910; Two bedrooms and two bathrooms on the main level; Finished basement with laundry room and additional storage
