Duplex with Attached
New
For Sale
$459,000
8969 Everett Cir, Westminster, CO 80021
Two residences connect through the garages while keeping the living areas separate.
Property Size1,372 SF
Days on Market5
Property Features for 8969 Everett Cir
General Information
Standard status
Active
Size
1,372 SF
Total Parking Spaces
1
Property subtype
Duplex
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,716
Amenities
wood-burning fireplace
granite countertops
updated bathrooms
main-level laundry
washer/dryer
backyard patio
Building Details
Building Size
1,372 SF
Year Built
1980
Listing Agency:
MB Bellissimo Homes
Listed By:
Craig Hoover · License #100071001
(720) 318-5881
Source:
Corken
Added: Sep 17
Changed: Sep 20
Last Checked: Sep 21 at 7:22AM
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 MB Bellissimo Homes
Investment Insights
Based on property information with market context.
Built in 1980, this duplex includes two residences joined at the garages rather than through shared living walls. Interior features include a vaulted living room ceiling, wood-burning fireplace, granite kitchen countertops, ample cabinetry, and included kitchen appliances. Updated bathrooms and main-level laundry add practical convenience, with the washer and dryer included.
Each residence has access to outdoor space, including a backyard patio and additional area suitable for gardening, pets, or seating. The attached one-car garage faces south. An adjacent common area provides a more open setting, while a concrete path and bridge lead toward the neighborhood park to the north. The property is in Westminster near shopping, restaurants, parks, and everyday conveniences. HOA fees are also noted as low.
Each residence has access to outdoor space, including a backyard patio and additional area suitable for gardening, pets, or seating. The attached one-car garage faces south. An adjacent common area provides a more open setting, while a concrete path and bridge lead toward the neighborhood park to the north. The property is in Westminster near shopping, restaurants, parks, and everyday conveniences. HOA fees are also noted as low.
Key Highlights
- Two residences connected through the garages without shared living walls
- Built in 1980 with updated bathrooms
- Vaulted living room ceiling and wood‑burning fireplace
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
$19,935
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
4.34%
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%
$398,700
$398.7K
Cap Rate 7%
$284,786
$284.8K
Cap Rate 9%
$221,500
$221.5K
Market Conditions
NOI Build-Up for 1,372 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
$30.5K $22.20/SF
− Vacancy
−$2.0K −$1.44/SF
EGI
$28.5K $20.76/SF
− OpEx
−$8.5K −$6.23/SF
NOI
$19.9K $14.53/SF
Area
Westminster, CO
Vacancy
6.50%
Lease Rate
$22.20 /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%
$398,700
Cap Rate 7%
$284,786
Cap Rate 9%
$221,500
Alternative Uses
Best Use
Multifamily LT 5
$284.8K
$249.2K – $332.3K
NOI $19,935 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$252.0K
$220.5K – $294.0K
NOI $17,638 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$401.0K
$350.9K – $467.9K
NOI $28,071 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 80021, CO
36,176
Population
17,353
Households
2.1
Avg Household Size
36
Median Age
53%
College-Educated
98%
High-School Grad
16.5 sq mi
ZIP Area
2,192
Density / Sq Mi
$105,645
Median Household Income
$59,947
Median Earnings
$2,054
Median Rent
$530,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences connect through the garages while keeping the living areas separate.
Where is this duplex located?
The property is located at 8969 Everett Cir Westminster, CO.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two residences connected through the garages without shared living walls; Built in 1980 with updated bathrooms; Vaulted living room ceiling and wood‑burning fireplace
