Updated Duplex with Fenced
For Sale
$900,000
724 Mead St, Louisville, CO 80027
Two-bedroom units offer private outdoor space, laundry, and recent mechanical and interior improvements.
Property Size1,765 SF
Price / SF$509.92
Days on Market23
Property Features for 724 Mead St
General Information
Standard status
Active
Size
1,765 SF
Property subtype
Multi-Family
Additional Details
Cap Rate
5%
Multifamily Units
2
Amenities
laundry
private fenced yards
Building Details
Year Built
1985
Buildings
1
Listing Agency:
LIV Sotheby's Intl Realty
(303) 919-4122
Listed By:
Marie Jacobs
Source:
Thecouturegroup
Added: Aug 7
Changed: Aug 28
Last Checked: Aug 29 at 11:40AM
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 Intl Realty
Investment Insights
Based on property information with market context.
This 1,765-square-foot duplex, built in 1985, contains two 2-bedroom, 1-bath units, each with laundry and a private fenced yard. Improvements include two furnaces installed in 2020, central AC in Unit #724, window units in Unit #726, and new hot water heaters in both units in 2021. Unit #724 also received new carpet, flooring, paint, and bathroom updates. Exterior work includes paint, a new roof, and ridge vents completed in 2018.
The approximately 175-foot-deep lot provides room for additional parking or a potential 2-car garage. The property is located in Old Town Louisville near the regional trail system and Community Park, with downtown restaurants, the farmer’s market, and other activities a few blocks away. Unit #726 is leased through December 2026, with a possible buyout and renewal interest from the tenant. The property has an approximately 5% cap rate.
The approximately 175-foot-deep lot provides room for additional parking or a potential 2-car garage. The property is located in Old Town Louisville near the regional trail system and Community Park, with downtown restaurants, the farmer’s market, and other activities a few blocks away. Unit #726 is leased through December 2026, with a possible buyout and renewal interest from the tenant. The property has an approximately 5% cap rate.
Key Highlights
- Duplex totals 1,765 square feet with two 2‑bedroom, 1‑bath units
- Each unit includes laundry and a private fenced yard
- 2020 improvements: 2 furnaces, central AC in #724, and window units in #726
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
$32,992
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
3.67%
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%
$659,840
$659.8K
Cap Rate 7%
$471,314
$471.3K
Cap Rate 9%
$366,578
$366.6K
Market Conditions
NOI Build-Up for 1,765 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
$50.4K $28.56/SF
− Vacancy
−$3.3K −$1.86/SF
EGI
$47.1K $26.70/SF
− OpEx
−$14.1K −$8.01/SF
NOI
$33.0K $18.69/SF
Area
Boulder County, CO
Vacancy
6.50%
Lease Rate
$28.56 /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%
$659,840
Cap Rate 7%
$471,314
Cap Rate 9%
$366,578
Alternative Uses
Best Use
Multifamily LT 5
$471.3K
$412.4K – $549.9K
NOI $32,992 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$438.9K
$384.1K – $512.1K
NOI $30,725 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$532.5K
$466.0K – $621.3K
NOI $37,277 @ 7.0% cap · market cap 4.14%
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
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 80027, CO
34,413
Population
13,248
Households
2.6
Avg Household Size
40
Median Age
71%
College-Educated
98%
High-School Grad
18.6 sq mi
ZIP Area
1,850
Density / Sq Mi
$153,165
Median Household Income
$70,617
Median Earnings
$2,234
Median Rent
$822,700
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-bedroom units offer private outdoor space, laundry, and recent mechanical and interior improvements.
Where is this duplex located?
The property is located at 724 Mead St Louisville, CO.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Duplex totals 1,765 square feet with two 2‑bedroom, 1‑bath units; Each unit includes laundry and a private fenced yard; 2020 improvements: 2 furnaces, central AC in #724, and window units in #726
