Updated Historic
For Sale
$220,000
723 E 2nd St, Pueblo, CO 81001
MULTI_FAMILY - Pueblo, CO
Property Size2,190 SF
Lot Size0.09 Acres
Price / SF$100.46
Days on Market27
Property Features for 723 E 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 4
Parking features
On Street
Window features
Double Pane Windows
Patio and Porch features
Patio
Interior features
New Paint, Ceiling Fan(s)
Basement
Unfinished
Appliances
Dishwasher-Some, Refrigerator-All, Electric Range-All, Microwave Built-In-Some, Washer-Some, Dryer-Some
Subdivision
Eastside
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
0431130016
Size
2,190 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E 20 FT LOT 25 + W 12 FT OF 26 BLK 6 MATTICES ADD
Tax Annual Amount
890
Legal Description
E 20 FT LOT 25 + W 12 FT OF 26 BLK 6 MATTICES ADD
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
private entrances
individual laundry hookups
fireplace
off-street parking
Building Details
Year built
1906
Floors in Building
2
Number of units
2
Flooring type
Hardwood, New floor coverings
Building materials
Frame, Brick, Stone Veneer, Stucco, Plastic Plumbing
Roof type
Composition
Listing Agency:
Keller Williams Clients Choice
(719) 535-0355
Listed By:
Eric Estrada · License #100048439
(719) 722-0009
Added: Jul 31
Changed: Aug 18
Last Checked: Aug 26 at 6:06AM
MLS# 241489
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.
Built in 1906, this duplex contains two separate residences within approximately 2,190 square feet. Each unit has two bedrooms, one full bathroom, a private entrance, and individual laundry hookups. The main-level residence includes hardwood flooring, a fireplace, and access to an unfinished basement offering additional storage. Recent work includes new floor coverings and exterior repainting, while the property also features a frame, brick, stone veneer, and stucco exterior.
The property is zoned R-4 and occupies approximately 0.089 acres in Pueblo. Public water and sewer serve the property, with natural-gas forced-air heating. Its location provides access to Downtown Pueblo and the Historic Arkansas Riverwalk, along with nearby restaurants, shopping, entertainment, and community events.
The property is zoned R-4 and occupies approximately 0.089 acres in Pueblo. Public water and sewer serve the property, with natural-gas forced-air heating. Its location provides access to Downtown Pueblo and the Historic Arkansas Riverwalk, along with nearby restaurants, shopping, entertainment, and community events.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bathroom in each residence
- Approximately 2,190 square feet on a 0.089‑acre lot
- Constructed in 1906 with recent interior and exterior updates
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
$17,926
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
8.15%
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%
$358,520
$358.5K
Cap Rate 7%
$256,086
$256.1K
Cap Rate 9%
$199,178
$199.2K
Market Conditions
NOI Build-Up for 2,190 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
$26.5K $12.12/SF
− Vacancy
−$934 −$0.43/SF
EGI
$25.6K $11.69/SF
− OpEx
−$7.7K −$3.51/SF
NOI
$17.9K $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%
$358,520
Cap Rate 7%
$256,086
Cap Rate 9%
$199,178
Alternative Uses
Best Use
Multifamily LT 5
$256.1K
$224.1K – $298.8K
NOI $17,926 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$230.7K
$201.8K – $269.1K
NOI $16,146 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$456.4K
$399.3K – $532.4K
NOI $31,945 @ 7.0% cap · market cap 14.52%
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
1,007
Businesses Nearby
Explore this area
Business Placement
Demographics for 81001, CO
31,107
Population
13,651
Households
2.3
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
32.0 sq mi
ZIP Area
972
Density / Sq Mi
$47,086
Median Household Income
$35,204
Median Earnings
$1,027
Median Rent
$208,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer private entrances, individual laundry hookups, and a flexible owner-occupant or rental configuration.
Where is this duplex located?
The property is located at 723 E 2nd St Pueblo, CO.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bathroom in each residence; Approximately 2,190 square feet on a 0.089‑acre lot; Constructed in 1906 with recent interior and exterior updates
