Renovated Duplex with Detached
For Sale
$297,595
Pending
1901 E Routt Avenue, Pueblo, CO 81004
Two renovated living spaces offer flexible occupancy, guest, multigenerational, or rental use.
Property Size2,232 SF
Days on Market146
Property Features for 1901 E Routt Avenue
General Information
Standard status
Pending
Size
2,232 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 4BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,754
Amenities
electric fireplace
new appliances
laundry hookups
carport
storage sheds
xeriscaping
private entrance
separate fenced yard
Building Details
Year Built
1926
Buildings
2
Listing Agency:
Keller Williams Performance Realty
(719) 583-1100
Listed By:
Amber Galassini · License #100092855
(719) 248-4121
Source:
Exitrealty
Added: Apr 10
Changed: Aug 31
Last Checked: Aug 31 at 3:22PM
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 Keller Williams Performance Realty
Investment Insights
Based on property information with market context.
This renovated duplex property combines a primary residence with a detached accessory dwelling unit. The main home offers four bedrooms and one bathroom across 2,232 square feet, with two bedrooms on the main level and two additional bedrooms in the finished basement. Interior features include an open living area, electric fireplace, updated kitchen, mudroom, walk-in closet, carport, and laundry accommodations.
The detached 504 sqft ADU includes one bedroom, one bathroom, a private entrance, separate fenced yard, living area, new appliances, and laundry hookups. Recent improvements across the property include the roof, gutters, furnace, evaporative coolers, water heaters, windows, paint, flooring, carpet, and fencing. Two storage sheds and xeriscaping complete the exterior. The property is located near medical centers, shopping, dining, and everyday amenities.
The detached 504 sqft ADU includes one bedroom, one bathroom, a private entrance, separate fenced yard, living area, new appliances, and laundry hookups. Recent improvements across the property include the roof, gutters, furnace, evaporative coolers, water heaters, windows, paint, flooring, carpet, and fencing. Two storage sheds and xeriscaping complete the exterior. The property is located near medical centers, shopping, dining, and everyday amenities.
Key Highlights
- Main home provides 4 bedrooms and 1 bathroom across 2,232 SF
- Detached 504 sqft ADU includes 1 bedroom and 1 bathroom
- Both living spaces have been renovated with updated finishes and appliances
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
$18,270
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
6.14%
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%
$365,400
$365.4K
Cap Rate 7%
$261,000
$261.0K
Cap Rate 9%
$203,000
$203.0K
Market Conditions
NOI Build-Up for 2,232 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
$27.1K $12.12/SF
− Vacancy
−$952 −$0.43/SF
EGI
$26.1K $11.69/SF
− OpEx
−$7.8K −$3.51/SF
NOI
$18.3K $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%
$365,400
Cap Rate 7%
$261,000
Cap Rate 9%
$203,000
Alternative Uses
Best Use
Multifamily LT 5
$261.0K
$228.4K – $304.5K
NOI $18,270 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$235.1K
$205.7K – $274.3K
NOI $16,456 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$465.1K
$407.0K – $542.6K
NOI $32,557 @ 7.0% cap · market cap 10.94%
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
572
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two renovated living spaces offer flexible occupancy, guest, multigenerational, or rental use.
Where is this duplex located?
The property is located at 1901 E Routt Avenue Pueblo, CO.
What is the asking price?
The asking price for this property is $297,595.
What are key features of this property?
This property features: Main home provides 4 bedrooms and 1 bathroom across 2,232 SF; Detached 504 sqft ADU includes 1 bedroom and 1 bathroom; Both living spaces have been renovated with updated finishes and appliances
