To-Be-Built Three-Bedroom
For Sale
$495,000
818 Elm, Pueblo, CO 81004
MULTI_FAMILY - Pueblo, CO
Property Size3,028 SF
Lot Size0.15 Acres
Price / SF$163.47
Days on Market57
Property Features for 818 Elm
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
R-4
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 6, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 4
Parking
2
Parking features
Garage - Attached
Window features
Double Pane Windows
Fireplace
1
Basement
Walk-Out Access
Appliances
Dishwasher-All, Refrigerator-All
Subdivision
Central High School
Elementary school
Bessemer
Middle school
Bessemer
High school
Bessemer
Standard status
Active
APN
1501131017
Size
3,028 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
25
Tax Description
Lots 32 + 33 + N 5 FT of 34 BLK 9 VAN KEUREN + VASSAULT
Tax Annual Amount
377
Legal Description
Lots 32 + 33 + N 5 FT of 34 BLK 9 VAN KEUREN + VASSAULT
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2027
Floors in Building
2
Number of units
2
Flooring type
New floor coverings
Building materials
Frame, Plastic Plumbing
Roof type
Composition
Listing Agency:
HomeSmart Preferred Realty · HomeSmart International
(719) 582-1046
Listed By:
Sherri Hood · License #100052888
(719) 322-4727
Added: Jun 30
Changed: Aug 3
Last Checked: Aug 25 at 10:06PM
MLS# 240906
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 to-be-built duplex is under construction with two three-bedroom, two-bath units totaling 3,028 square feet. Each unit measures 1,514 square feet. The package includes all appliances, with dishwasher and refrigerator included, and the home will feature forced-air heating and central air cooling.
Construction materials include frame construction with plastic plumbing. Flooring will be new floor coverings, and the roof will be composition. The duplex is designed with attached garage parking and includes a fireplace.
The property sits on a 0.15-acre lot and is planned with public water and public sewer service. The estimated year built is 2027, and the property is zoned R-4.
Construction materials include frame construction with plastic plumbing. Flooring will be new floor coverings, and the roof will be composition. The duplex is designed with attached garage parking and includes a fireplace.
The property sits on a 0.15-acre lot and is planned with public water and public sewer service. The estimated year built is 2027, and the property is zoned R-4.
Key Highlights
- To‑be‑built duplex under construction with estimated 2027 year built
- R‑4 zoning
- Two units totaling 3,028 SF; each unit is 1,514 SF
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
$24,785
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
5.01%
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%
$495,700
$495.7K
Cap Rate 7%
$354,071
$354.1K
Cap Rate 9%
$275,389
$275.4K
Market Conditions
NOI Build-Up for 3,028 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
$36.7K $12.12/SF
− Vacancy
−$1.3K −$0.43/SF
EGI
$35.4K $11.69/SF
− OpEx
−$10.6K −$3.51/SF
NOI
$24.8K $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%
$495,700
Cap Rate 7%
$354,071
Cap Rate 9%
$275,389
Alternative Uses
Best Use
Multifamily LT 5
$354.1K
$309.8K – $413.1K
NOI $24,785 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$318.9K
$279.1K – $372.1K
NOI $22,325 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$631.0K
$552.1K – $736.1K
NOI $44,168 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
686
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
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 - To-be-built duplex in R-4 zoning with central air, forced-air heat, attached garages, and a package including appliances.
Where is this duplex located?
The property is located at 818 Elm Pueblo, CO.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: To‑be‑built duplex under construction with estimated 2027 year built; R‑4 zoning; Two units totaling 3,028 SF; each unit is 1,514 SF
