Renovated Duplex with
For Sale
$249,500
1119 Conley, Pueblo, CO 81003
Residential Income, Pueblo, CO
Property Size1,248 SF
Lot Size0.12 Acres
Price / SF$199.92
Days on Market91
Property Features for 1119 Conley
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-4
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1
Parking
1
Parking features
Garage - Attached
Window features
Vinyl Frames
Interior features
New Paint
Appliances
Refrigerator-All, Electric Range-All
Subdivision
Northside/Avenues
Lot features
Corner Lot, Lawn- Front
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
0525346001
Size
1,248 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N 40 FT OF LOTS 1 TO 3 BLK 16 CRAIGS ADD
Tax Annual Amount
1765
Legal Description
N 40 FT OF LOTS 1 TO 3 BLK 16 CRAIGS ADD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Building Details
Year built
1927
Number of units
2
Flooring type
New floor coverings
Building materials
Frame, Stucco
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Buy Smart Colorado
(719) 310-8464
Listed By:
Caleb Skelton
(719) 216-4057
Added: Jun 18
Changed: Sep 12
Last Checked: Sep 16 at 5:06AM
MLS# 240639
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 property includes a main residence and a separate cottage on a 0.12-acre lot. The 1,248-square-foot improvements were renovated in 2024 with new flooring, interior paint, and updated bathrooms. The ranch-style construction dates to 1927 and features frame and stucco materials, electric baseboard heat, composition roofing, an attached garage, and a combination of one-, two-, and three-bedroom rooms with two bathrooms.
Located at 1119 Conley in Pueblo, the property is served by public water and public sewer. A refrigerator and electric range are included, while the landlord pays water and residents handle their other utilities. The property is zoned R-4 and currently has occupants in both units under long-term leases.
Located at 1119 Conley in Pueblo, the property is served by public water and public sewer. A refrigerator and electric range are included, while the landlord pays water and residents handle their other utilities. The property is zoned R-4 and currently has occupants in both units under long-term leases.
Key Highlights
- Two‑unit property with a main house and separate cottage
- 1,248 square feet on a 0.12‑acre lot
- Renovated in 2024 with new flooring, paint, and updated bathrooms
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
$10,215
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
4.09%
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%
$204,300
$204.3K
Cap Rate 7%
$145,929
$145.9K
Cap Rate 9%
$113,500
$113.5K
Market Conditions
NOI Build-Up for 1,248 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
$15.1K $12.12/SF
− Vacancy
−$532 −$0.43/SF
EGI
$14.6K $11.69/SF
− OpEx
−$4.4K −$3.51/SF
NOI
$10.2K $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%
$204,300
Cap Rate 7%
$145,929
Cap Rate 9%
$113,500
Alternative Uses
Best Use
Multifamily LT 5
$145.9K
$127.7K – $170.3K
NOI $10,215 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$131.4K
$115.0K – $153.4K
NOI $9,201 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$260.1K
$227.6K – $303.4K
NOI $18,204 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 81003, CO
15,169
Population
6,233
Households
2.4
Avg Household Size
38
Median Age
18%
College-Educated
80%
High-School Grad
12.2 sq mi
ZIP Area
1,243
Density / Sq Mi
$43,750
Median Household Income
$33,941
Median Earnings
$847
Median Rent
$178,600
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 updated residential units with established occupants, public utilities, and an attached garage.
Where is this duplex located?
The property is located at 1119 Conley Pueblo, CO.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: Two‑unit property with a main house and separate cottage; 1,248 square feet on a 0.12‑acre lot; Renovated in 2024 with new flooring, paint, and updated bathrooms
