1634 Steele St
About This Property
The main home features timeless architectural character, generous living spaces, and many recent updates and repairs that make the property feel well cared for while still preserving its historic appeal. The layout offers flexibility for a variety of living arrangements, with the added benefit of an ADU/mother-in-law apartment that can provide excellent rental income, private guest quarters, or separate space for extended family.
With multiple living areas and a versatile configuration, the property may also offer the potential to be used as three separate units, creating additional possibilities for house hacking, long-term rental income, or multigenerational use. Income history can be provided, giving buyers a clearer picture of the property's earning potential.
Outside, the large city lot provides valuable outdoor space rarely found in this location, along with plenty of off-street parking- a major convenience in this central Denver neighborhood. Whether you are looking for a home with supplemental income, a flexible multigenerational setup, or a well-located investment property near City Park, this Steele Street property offers a unique combination of location, character, and opportunity.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017