Remodeled Duplex with Separate
For Sale
$249,000
1019 E Orman Ave, Pueblo, CO 81004
Residential Income, Pueblo, CO
Property Size1,568 SF
Lot Size0.11 Acres
Price / SF$158.80
Days on Market78
Property Features for 1019 E Orman Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
None
Window features
Double Pane Windows
Interior features
New Paint, Ceiling Fan(s), Cable TV
Appliances
Washer-All, Dryer-None
Subdivision
Central High School
Elementary school
Pueblo City 60 School District
Middle school
Pueblo City 60 School District
High school
Pueblo City 60 School District
Standard status
Active
APN
1501328028
Size
1,568 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
N 1/2 LOT 36 ALL 37 BLK 1 COLLEGE HILL SUB
Tax Annual Amount
812
Legal Description
N 1/2 LOT 36 ALL 37 BLK 1 COLLEGE HILL SUB
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1903
Floors in Building
2
Number of units
2
Flooring type
New floor coverings
Building materials
Concrete
Roof type
Composition
Listing Agency:
HomeSmart Realty Partners
(970) 667-0095
Listed By:
Tyson Letlow · License #FA100080924
(970) 819-6461
Added: Jul 8
Changed: Sep 17
Last Checked: Sep 23 at 4:06PM
MLS# 241017
Copyright © 2026 Pueblo Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 1,568 square feet across two residential units. The lower residence has three bedrooms, while the upper unit has one bedroom and a separate outside entrance; the property includes two bathrooms overall. Interior updates include new paint and floor coverings, with concrete construction, composition roofing, hot-water heating, and ceiling fans. A washer is included, and the owner pays for water.
Built in 1903, the property sits on a 0.107-acre lot in Pueblo’s south side near downtown. Public water and public sewer serve the property. One unit is occupied by a long-term tenant, and the upper unit has recently been leased.
Built in 1903, the property sits on a 0.107-acre lot in Pueblo’s south side near downtown. Public water and public sewer serve the property. One unit is occupied by a long-term tenant, and the upper unit has recently been leased.
Key Highlights
- 1,568‑square‑foot duplex on a 0.107‑acre lot
- Lower unit offers 3 bedrooms; upper unit offers 1 bedroom
- Upper residence has a separate outside entrance
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
$12,835
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
5.15%
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%
$256,700
$256.7K
Cap Rate 7%
$183,357
$183.4K
Cap Rate 9%
$142,611
$142.6K
Market Conditions
NOI Build-Up for 1,568 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
$19.0K $12.12/SF
− Vacancy
−$669 −$0.43/SF
EGI
$18.3K $11.69/SF
− OpEx
−$5.5K −$3.51/SF
NOI
$12.8K $8.19/SF
Area
Pueblo, CO
Vacancy
3.52%
Lease Rate
$12.12 /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%
$256,700
Cap Rate 7%
$183,357
Cap Rate 9%
$142,611
Alternative Uses
Best Use
Multifamily LT 5
$183.4K
$160.4K – $213.9K
NOI $12,835 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$165.1K
$144.5K – $192.7K
NOI $11,560 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$326.7K
$285.9K – $381.2K
NOI $22,872 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 81004, CO
26,005
Population
12,597
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
90%
High-School Grad
160.9 sq mi
ZIP Area
162
Density / Sq Mi
$48,620
Median Household Income
$33,925
Median Earnings
$1,002
Median Rent
$181,200
Median Home Value
Check the figures for this property
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-unit residential property with refreshed interiors, public utilities, and separate access for the upper residence.
Where is this duplex located?
The property is located at 1019 E Orman Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,568‑square‑foot duplex on a 0.107‑acre lot; Lower unit offers 3 bedrooms; upper unit offers 1 bedroom; Upper residence has a separate outside entrance
