Old Colorado City
For Sale
$440,000
2201 West Pikes Peak Avenue, Colorado Springs, CO 80904
Duplex in Old Colorado City for sale.
Property Size1,226 SF
Price / SF$358.89
Days on Market188
Property Features for 2201 West Pikes Peak Avenue
General Information
Standard status
Active
Size
1,226 SF
Total Parking Spaces
6
Property subtype
Residential Income / Duplex
Taxes and HOA fees
Annual Taxes
$1,227
Amenities
Other
Baseboard, Electric
359
1226
Public Records
Building Details
Year Built
1898
Listing Agency:
Kaufman Hagan
(303) 859-0682
Listed By:
Drew Madayag · License #100109778
(303) 859-0682
Source:
Compass
Added: Feb 24
Changed: Aug 31
Last Checked: Aug 30 at 11:39PM
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 Kaufman Hagan
Investment Insights
Based on property information with market context.
This property is a duplex located in Old Colorado City. The property size is 1925 square feet. The property is for sale at $247,500 per unit, with a total price of $495,000.
Key Highlights
- Old Colorado City Location
- Duplex Property
- Price of $247,500 per Unit
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
$16,058
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
3.65%
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%
$321,160
$321.2K
Cap Rate 7%
$229,400
$229.4K
Cap Rate 9%
$178,422
$178.4K
Market Conditions
NOI Build-Up for 1,226 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
$24.3K $19.80/SF
− Vacancy
−$1.3K −$1.09/SF
EGI
$22.9K $18.71/SF
− OpEx
−$6.9K −$5.61/SF
NOI
$16.1K $13.10/SF
Area
Colorado Springs, CO
Vacancy
5.50%
Lease Rate
$19.80 /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%
$321,160
Cap Rate 7%
$229,400
Cap Rate 9%
$178,422
Alternative Uses
Best Use
Multifamily LT 5
$229.4K
$200.7K – $267.6K
NOI $16,058 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$212.6K
$186.0K – $248.0K
NOI $14,881 @ 7.0% cap · market cap 3.38%
Theoretical Best
Specialty Retail
$242.1K
$211.9K – $282.5K
NOI $16,948 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,509
Businesses Nearby
Explore this area
Business Placement
Demographics for 80904, CO
20,986
Population
11,578
Households
1.8
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
11.2 sq mi
ZIP Area
1,874
Density / Sq Mi
$69,566
Median Household Income
$44,494
Median Earnings
$1,417
Median Rent
$413,400
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Duplex - Duplex in Old Colorado City for sale.
Where is this duplex located?
The property is located at 2201 West Pikes Peak Avenue Colorado Springs, CO.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Old Colorado City Location; Duplex Property; Price of $247,500 per Unit
