Updated Half-Duplex Income
For Sale
$565,000
6831 E Ithaca Pl, Denver, CO 80237
Three-bedroom half-duplex with finished basement, fenced yard, carport, and additional off-street parking.
Property Size1,722 SF
Days on Market21
Property Features for 6831 E Ithaca Pl
General Information
Standard status
Active
Size
1,722 SF
Total Parking Spaces
2
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,421
Amenities
back patio
stackable washer and dryer
storage shed
fully fenced backyard
Building Details
Building Size
1,722 SF
Year Built
1966
Listing Agency:
LIV Sotheby's International Realty
(303) 482-5928
Listed By:
Kathryn Hoster · License #100001927
(303) 482-5928
Source:
Corken
Added: Aug 12
Changed: Aug 31
Last Checked: Aug 31 at 12:07AM
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 LIV Sotheby's International Realty
Investment Insights
Based on property information with market context.
This half-duplex, built in 1966, offers a three-bedroom layout with hardwood flooring across the main and upper levels. The main floor includes a living room, dining area, kitchen, powder room, and patio access. Two bedrooms and an updated full bathroom are located upstairs, while the finished basement adds a family room, conforming third bedroom with egress window, updated 3/4 bathroom, storage, and laundry hookups.
Exterior improvements include a newly stained, fully fenced backyard with professional landscaping, a new storage shed, an attached carport, and one additional off-street parking space. The property is located at 6831 E Ithaca Pl in Denver, near Southmoor Park, Whole Foods, restaurants, shopping, public transportation, I-25, Cherry Creek, the Denver Tech Center, and Denver International Airport.
Exterior improvements include a newly stained, fully fenced backyard with professional landscaping, a new storage shed, an attached carport, and one additional off-street parking space. The property is located at 6831 E Ithaca Pl in Denver, near Southmoor Park, Whole Foods, restaurants, shopping, public transportation, I-25, Cherry Creek, the Denver Tech Center, and Denver International Airport.
Key Highlights
- Three‑bedroom half‑duplex with a conforming basement bedroom and egress window
- Finished basement includes family room, updated 3/4 bathroom, storage, and laundry hookups
- Hardwood flooring extends across the main and upper levels
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
$26,146
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
4.63%
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%
$522,920
$522.9K
Cap Rate 7%
$373,514
$373.5K
Cap Rate 9%
$290,511
$290.5K
Market Conditions
NOI Build-Up for 1,722 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
$50.6K $29.40/SF
− Vacancy
−$3.1K −$1.79/SF
EGI
$47.5K $27.61/SF
− OpEx
−$21.4K −$12.42/SF
NOI
$26.1K $15.18/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$522,920
Cap Rate 7%
$373,514
Cap Rate 9%
$290,511
Alternative Uses
Best Use
Apartment 5plus
$373.5K
$326.8K – $435.8K
NOI $26,146 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$548.2K
$479.7K – $639.5K
NOI $38,372 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,528
Businesses Nearby
Explore this area
Business Placement
Demographics for 80237, CO
23,108
Population
12,620
Households
1.8
Avg Household Size
36
Median Age
63%
College-Educated
97%
High-School Grad
3.6 sq mi
ZIP Area
6,419
Density / Sq Mi
$86,723
Median Household Income
$59,185
Median Earnings
$1,845
Median Rent
$587,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom half-duplex with finished basement, fenced yard, carport, and additional off-street parking.
Where is this residential income property located?
The property is located at 6831 E Ithaca Pl Denver, CO.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Three‑bedroom half‑duplex with a conforming basement bedroom and egress window; Finished basement includes family room, updated 3/4 bathroom, storage, and laundry hookups; Hardwood flooring extends across the main and upper levels
