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Boulder 80305 Highland Park
505 Drake Street
$1,400,000
● House - Off Market

505 Drake Street

Boulder, CO 80305
bedrooms
3 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
1,994 Ft²
$1,369,317
RealtyHop Estimate
14.11%
Since May 1, 2021
CO-Denver
Primary Model

About This Property

Great, upper Table Mesa home within a short walk to all South Boulder has to offer! Enjoy Boulder's amazing open space, world class hiking trails, and the Table Mesa Center restaurants, grocery stores and shopping. Close proximity to Bear Creek Elementary, Southern Hills and Fairview. Large, fenced backyard with mature trees and a nice large patio off of the living room is a perfect gathering spot for family and friends. Nicely updated kitchen and baths and great flowing floor plan! Direct garage access could be restored through the coat closet, or a new access through the family room. Great opportunity for a starter home or remodel opportunity.
Unit Size
1,994 Ft²
Days on Market
-
Land Size
0.24 acres
Price per sqft
$602
Property Type
House
Property Taxes
$407
HOA Dues
-
Year Built
1964

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 3 years ago (REcolorado MLS #RECIR935752)

Price History

Date / Event Date Event Price
Apr 21, 2021 Sold
Premium
Sold
Mar 19, 2021 Listed by Goodacre & Company $1,200,000
Listed by Goodacre & Company
Mar 22, 2005 Sold
Premium
Sold

Property Highlights

Garage
Fireplace

Building Info

Overview

    General

  • Year Built: 1964
  • Effective Year Built: 1990
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 4
  • Construction Type: 12
  • Building Style: 28
  • Exterior Walls Type: 3
  • Interior Walls Type: 3
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 640
  • Garage Type: 1
  • Garage Square Area: 528
  • Parking Space Count: 2
  • Patio Type: 5
  • Porch Type: 36
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,462
  • Total Building Area: 2,756
  • Gross Building Area: 2,756
  • Building Area: 1,588
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,588
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: TABLE MESA 1 - BO
  • Land Acres: 0000000240
  • Standard Land Use Code: 1001
  • County Land Use Code: 1112
  • Legal Description 1: LOT 31 BLK 1 TABLE MESA 1

Neighborhood

  • School District Name: Boulder Valley School District RE-2
  • Census Tract: 012505

Geography

  • Assessors Map Reference: B18-K
  • Account Number: R0010538
  • Parcel: R0010538
  • Block: 1
  • Lot: 31
  • Meridian: SEC 08 TWN 1S RNG 70
  • Municipality: BOULDER
  • Latitude: 39.9857
  • Longitude: -105.26

    Address

  • Full Address: 505 Drake St
  • Address - House Number: 505
  • Address - Street Name: Drake
  • Address - Suffix Type: St
  • State: CO
  • City Name: Boulder
  • Carrier Code: C004
  • 4-Digit Zip Code: 5318
  • Zip Code: 80305

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $621,196
  • Initial Tax Delinquent Year: 2019
  • Tax Rate Code Area: 00-010

    Appraisal Valuation

  • Standard Deviation: 0.1482
  • Valuation Date: Feb 07, 2024
  • Confidence Score: 82
  • Final Value: 1,663,014
  • High Value: 1,909,629
  • Low Value: 1,416,398

    Market Valuation

  • Market Total Value: $1,531,300
  • Market Land Value: $1,116,100
  • Market Improvement Value: $415,200

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $103,592
  • Assessed Land Value: $75,504
  • Assessed Improvements Value: $28,088

    Sales

  • Current Sale Contract Date: Apr 20, 2021
  • Current Sale Recording Date: Apr 21, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 68
  • Current Sale Input Document Number: 3878973
  • Previous Sale Recording Date: Mar 22, 2005
  • Previous Sale Contract Date: Mar 21, 2005
  • Previous Sale Amount: $496,720
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About South Boulder

Stats & Trends

Median Asking:

$975,000

Sale Price/ft²

$596

Below Asking

0.02%

Average Days on Market

47

Average Home Size

2054 ft²

Average Home Age

50 years

Currently For Sale

64 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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Frequently Asked Questions

When was property at 505 Drake Street built and last sold?
The property at 505 Drake Street was built in 1964 and last sold on Apr 20, 2021 for $1,400,000.
How much is this home worth?
The estimated value of the home located at 505 Drake Street is $1,228,706.
What are some comparable homes to 505 Drake Street?
There are currently no comparable homes to 505 Drake Street.
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