Flexible Three-Unit Multifamily
For Sale
$375,000
1217 N Greenwood St, Pueblo, CO 81003
R-5-zoned property with separate residential and professional-use spaces, kitchens throughout, and accessible rear entry.
Property Size2,478 SF
Days on Market40
Property Features for 1217 N Greenwood St
General Information
Standard status
Active
Size
2,478 SF
Total Parking Spaces
1
Property subtype
Multi Family Home
Zoning
R-5
Taxes and HOA fees
Annual Taxes
$2,513
Building Details
Building Size
2,478 SF
Year Built
1940
Units
3
Listing Agency:
Redfin Corp
(719) 431-9757
Listed By:
Travis Fraker · License #100097993
(719) 431-9757
Source:
Pikespeakdreamhomesrealty
Added: Jul 15
Changed: Aug 21
Last Checked: Aug 22 at 2:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Redfin Corp
Investment Insights
Based on property information with market context.
This R-5-zoned property is arranged as three separate spaces with a flexible residential and professional-use configuration. One area contains a 420-square-foot one-bedroom apartment, while the primary living space includes two bedrooms, one full bathroom, garage space, and an unfinished 760-square-foot basement. The third space has three rooms and two half bathrooms, providing a distinct office-oriented layout. Each space includes a full kitchen, and the appliances convey with the property.
The property is located between Parkview Hospital and the City Center at 1217 N Greenwood St in Pueblo, Colorado. Site features include oak hardwood floors, double-pane vinyl windows, a covered rear deck, and a handicap-accessible entry. Parking includes eight spaces behind the property, along with additional street parking. Zoning supports uses identified in the source information, including multifamily apartments, professional offices, and nonprofit organizations.
The property is located between Parkview Hospital and the City Center at 1217 N Greenwood St in Pueblo, Colorado. Site features include oak hardwood floors, double-pane vinyl windows, a covered rear deck, and a handicap-accessible entry. Parking includes eight spaces behind the property, along with additional street parking. Zoning supports uses identified in the source information, including multifamily apartments, professional offices, and nonprofit organizations.
Key Highlights
- R‑5 zoning supports multifamily apartments, professional offices, and nonprofit organizations
- Three separate spaces, including residential and office‑oriented configurations
- 420 sq. ft. one‑bedroom apartment
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
$27,153
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
7.24%
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%
$543,060
$543.1K
Cap Rate 7%
$387,900
$387.9K
Cap Rate 9%
$301,700
$301.7K
Market Conditions
NOI Build-Up for 2,478 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
$37.2K $15.00/SF
− Vacancy
−$966 −$0.39/SF
EGI
$36.2K $14.61/SF
− OpEx
−$9.1K −$3.65/SF
NOI
$27.2K $10.96/SF
Area
Pueblo, CO
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$543,060
Cap Rate 7%
$387,900
Cap Rate 9%
$301,700
Alternative Uses
Best Use
Office B
$387.9K
$339.4K – $452.6K
NOI $27,153 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$261.0K
$228.4K – $304.5K
NOI $18,270 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$516.4K
$451.8K – $602.4K
NOI $36,146 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,016
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
Market
Vacancy Rate% for Office 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?
Multifamily property - R-5-zoned property with separate residential and professional-use spaces, kitchens throughout, and accessible rear entry.
Where is this multifamily property located?
The property is located at 1217 N Greenwood St Pueblo, CO.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: R‑5 zoning supports multifamily apartments, professional offices, and nonprofit organizations; Three separate spaces, including residential and office‑oriented configurations; 420 sq. ft. one‑bedroom apartment
