Log Duplex with
For Sale
$1,900,000
665 Whispering Pines Lane, Breckenridge, CO 80424
Mountain property featuring vaulted ceilings, a hot tub, and an oversized garage for recreational equipment.
Property Size3,594 SF
Days on Market439
Property Features for 665 Whispering Pines Lane
General Information
Standard status
Active
Size
3,594 SF
Total Parking Spaces
2
Property subtype
Duplex
Zoning
Duplex
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Amenities
deck
hot tub
vaulted ceilings
loft
private fishing and boating rights
Building Details
Building Size
3,594 SF
Year Built
2005
Buildings
1
Stories
2
Construction
log home
Listing Agency:
Keller Williams Top Of Rockies
(970) 368-7000
Listed By:
Daniel D. Lee
Source:
Steamboatmountainrealestate
Added: Jun 18, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:04AM
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 Keller Williams Top Of Rockies
Investment Insights
Based on property information with market context.
This 2005 log-built duplex offers a spacious main-level living area designed for gathering, with vaulted ceilings and a large loft adding flexible interior space. The home includes three ensuite bedrooms, a deck extending across the length of the residence, a walk-out hot tub, and an oversized two-car garage. A new roof is planned for Summer 2025.
Located at 665 Whispering Pines Lane in Breckenridge, the property is in Blue River, just minutes from the Town of Breckenridge and its skiing and outdoor recreation. Residences have private fishing and boating rights on Goose Pasture Tarn. The property may also be eligible for a short-term rental license, subject to applicable requirements.
Located at 665 Whispering Pines Lane in Breckenridge, the property is in Blue River, just minutes from the Town of Breckenridge and its skiing and outdoor recreation. Residences have private fishing and boating rights on Goose Pasture Tarn. The property may also be eligible for a short-term rental license, subject to applicable requirements.
Key Highlights
- Three ensuite bedrooms plus a large loft
- Vaulted ceilings and spacious main‑level living area
- Deck spans the length of the home
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
$59,911
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
3.15%
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%
$1,198,220
$1.2M
Cap Rate 7%
$855,871
$855.9K
Cap Rate 9%
$665,678
$665.7K
Market Conditions
NOI Build-Up for 3,594 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
$90.6K $25.20/SF
− Vacancy
−$5.0K −$1.39/SF
EGI
$85.6K $23.81/SF
− OpEx
−$25.7K −$7.14/SF
NOI
$59.9K $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%
$1,198,220
Cap Rate 7%
$855,871
Cap Rate 9%
$665,678
Alternative Uses
Best Use
Multifamily LT 5
$855.9K
$748.9K – $998.5K
NOI $59,911 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$790.4K
$691.6K – $922.1K
NOI $55,325 @ 7.0% cap · market cap 2.91%
Theoretical Best
Warehouse
$71.53M
$62.59M – $83.46M
NOI $5,007,395 @ 7.0% cap · market cap 263.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 80424, CO
10,474
Population
11,886
Households
0.9
Avg Household Size
38
Median Age
55%
College-Educated
94%
High-School Grad
125.9 sq mi
ZIP Area
83
Density / Sq Mi
$109,497
Median Household Income
$49,958
Median Earnings
$2,029
Median Rent
$970,000
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 property featuring vaulted ceilings, a hot tub, and an oversized garage for recreational equipment.
Where is this duplex located?
The property is located at 665 Whispering Pines Lane Breckenridge, CO.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Three ensuite bedrooms plus a large loft; Vaulted ceilings and spacious main‑level living area; Deck spans the length of the home
