Triplex with Detached
For Sale
$359,900
216 E Evans Ave, Pueblo, CO 81004
MULTI_FAMILY - Pueblo, CO
Property Size3,344 SF
Lot Size0.22 Acres
Price / SF$107.63
Days on Market34
Property Features for 216 E Evans Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RES
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 5
Parking
4
Parking features
Garage - Detached
Window features
Single Pane Window(s)
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Fencing
Wood
Basement
Full, Unfinished
Appliances
Refrigerator-Some, Gas Range-Some, Washer-Some, Dryer-Some
Subdivision
Central High School
Lot features
Rock- Front, Trees- Front
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
1501202015
Size
3,344 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lots 24 + 25 Blk 136 South Pueblo
Tax Annual Amount
3352
Legal Description
Lots 24 + 25 Blk 136 South Pueblo
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1906
Floors in Building
2
Number of units
3
Building materials
Brick, Plastic Plumbing
Roof type
Flat
Additional Structures
Outbuilding
Listing Agency:
Believers Realty, Inc.
(719) 544-0400
Listed By:
Mary Highline
(719) 250-2020
Added: Jul 12
Changed: Aug 5
Last Checked: Aug 14 at 6:06PM
MLS# 237348
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 triplex offers three separate living areas arranged across both sides of the property: one side provides a layout with four bedrooms and two full baths, along with a living room, dining room, and kitchen, while the other side is split into an upper and a lower unit, each with a one-bedroom configuration. The upper unit includes a separate area suited for an office. Each side also has a private basement with storage and either one or two furnaces, along with classic open staircases and some original unpainted woodwork.
The property sits on a 0.215-acre lot and includes 3,344 square feet under roof. It is constructed with brick and has flat roofing, public water, and public sewer. Heating is forced air with natural gas, and amenities noted include ceiling fans and appliances such as refrigerators, gas ranges, washers, and dryers (some units). The property also has a porch and wood fencing, and four detached garage spaces for private use or rental.
During inspection, copper water lines were reported missing and there appears to be a crack in the sewer line. The property is zoned RES and is described as part of an estate with no probate delays.
The property sits on a 0.215-acre lot and includes 3,344 square feet under roof. It is constructed with brick and has flat roofing, public water, and public sewer. Heating is forced air with natural gas, and amenities noted include ceiling fans and appliances such as refrigerators, gas ranges, washers, and dryers (some units). The property also has a porch and wood fencing, and four detached garage spaces for private use or rental.
During inspection, copper water lines were reported missing and there appears to be a crack in the sewer line. The property is zoned RES and is described as part of an estate with no probate delays.
Key Highlights
- 0.215‑acre lot with 3,344 square feet
- Four detached garage spaces for private use or rental
- Layout includes a four‑bedroom, two‑bath side plus upper/lower 1‑bedroom units
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
$27,372
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
7.61%
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%
$547,440
$547.4K
Cap Rate 7%
$391,029
$391.0K
Cap Rate 9%
$304,133
$304.1K
Market Conditions
NOI Build-Up for 3,344 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
$40.5K $12.12/SF
− Vacancy
−$1.4K −$0.43/SF
EGI
$39.1K $11.69/SF
− OpEx
−$11.7K −$3.51/SF
NOI
$27.4K $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%
$547,440
Cap Rate 7%
$391,029
Cap Rate 9%
$304,133
Alternative Uses
Best Use
Multifamily LT 5
$391.0K
$342.2K – $456.2K
NOI $27,372 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$352.2K
$308.2K – $410.9K
NOI $24,654 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$696.8K
$609.7K – $813.0K
NOI $48,778 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
426
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?
Triplex - Triplex with four detached garage spaces, flat roof, and forced-air natural gas heating.
Where is this triplex located?
The property is located at 216 E Evans Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 0.215‑acre lot with 3,344 square feet; Four detached garage spaces for private use or rental; Layout includes a four‑bedroom, two‑bath side plus upper/lower 1‑bedroom units
