Renovated Duplex with
For Sale
$224,900
207 Spring St, Pueblo, CO 81003
Residential Income, Pueblo, CO
Property Size1,298 SF
Lot Size0.15 Acres
Price / SF$173.27
Days on Market65
Property Features for 207 Spring St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Parking
1
Parking features
Garage - Detached
Window features
Vinyl Frames
Exterior features
Accessory Dwelling
Basement
Unfinished, Partial
Appliances
Refrigerator-All
Subdivision
Union Historical
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
0536404012
Size
1,298 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 19 + N 23 FT OF 20 BLK 109 SOUTH PUEBLO
Tax Annual Amount
894
Legal Description
LOT 19 + N 23 FT OF 20 BLK 109 SOUTH PUEBLO
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Building Details
Year built
1900
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: Jul 12
Changed: Sep 13
Last Checked: Sep 14 at 1:06AM
MLS# 240610
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 includes a main residence and a separate cottage arranged as two residential units. The interiors were renovated in 2024 with new floor coverings, refreshed paint, updated bathrooms, and other improvements. The property contains 1,298 square feet on a 0.15-acre lot and features frame and stucco construction, ranch styling, electric baseboard heat, composition roofing, and a detached garage.
Long-term tenants occupy both units under current leases. The landlord pays water, while tenants handle their other utilities. The property is served by public water and public sewer and is zoned R-4. Located at 207 Spring St in Pueblo, the asset combines an accessory dwelling configuration with established residential occupancy.
Long-term tenants occupy both units under current leases. The landlord pays water, while tenants handle their other utilities. The property is served by public water and public sewer and is zoned R-4. Located at 207 Spring St in Pueblo, the asset combines an accessory dwelling configuration with established residential occupancy.
Key Highlights
- Two‑unit layout with a main house and separate cottage
- Renovations completed in 2024, including flooring, paint, and bathrooms
- 1,298 square feet on a 0.15‑acre lot
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
$10,625
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
4.72%
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%
$212,500
$212.5K
Cap Rate 7%
$151,786
$151.8K
Cap Rate 9%
$118,056
$118.1K
Market Conditions
NOI Build-Up for 1,298 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
$15.7K $12.12/SF
− Vacancy
−$554 −$0.43/SF
EGI
$15.2K $11.69/SF
− OpEx
−$4.6K −$3.51/SF
NOI
$10.6K $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%
$212,500
Cap Rate 7%
$151,786
Cap Rate 9%
$118,056
Alternative Uses
Best Use
Multifamily LT 5
$151.8K
$132.8K – $177.1K
NOI $10,625 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$136.7K
$119.6K – $159.5K
NOI $9,570 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$270.5K
$236.7K – $315.6K
NOI $18,933 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
916
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
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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-unit residential property with updated interiors, a detached garage, and public water and sewer service.
Where is this duplex located?
The property is located at 207 Spring St Pueblo, CO.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two‑unit layout with a main house and separate cottage; Renovations completed in 2024, including flooring, paint, and bathrooms; 1,298 square feet on a 0.15‑acre lot
