Historic Duplex with
For Sale
$449,900
2307 N Greenwood St, Pueblo, CO 81003
Character-rich duplex with a primary residence, one-bedroom ADU, oversized garage, private deck, and landscaped outdoor areas.
Property Size2,092 SF
Price / SF$215.06
Days on Market34
Property Features for 2307 N Greenwood St
General Information
Standard status
Active
Size
2,092 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 1BR
Multifamily Units
2
Amenities
stamped-concrete patio
mature landscaping
grapevine courtyard
fireplace
hardwood floors
wood trim
formal dining area
dog wash
laundry area
private wraparound Trex deck
Building Details
Year Built
1903
Listing Agency:
Rocky Mountain Realty
(719) 240-2502
Listed By:
Shawn Martinez · License #FA40004934
Source:
719coloradohome
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 29 at 4:12PM
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 Rocky Mountain Realty
Investment Insights
Based on property information with market context.
Built in 1903, this 2,092-square-foot duplex pairs a three-bedroom, one-and-a-half-bath main residence with a one-bedroom accessory dwelling unit above the oversized two-car garage. The primary home features original hardwood flooring and wood trim, a spacious living room with fireplace, and a formal dining room. The ADU includes laundry, living space, kitchen potential, and a private wraparound Trex deck.
Outdoor features include a stamped-concrete patio, grapevine courtyard, mature landscaping, and front and rear sprinkler systems. The garage also includes a dedicated dog wash and a roughed-in half bath. Located at 2307 N Greenwood St in Pueblo’s Historic North Side, the property offers a flexible configuration within an established historic district.
Outdoor features include a stamped-concrete patio, grapevine courtyard, mature landscaping, and front and rear sprinkler systems. The garage also includes a dedicated dog wash and a roughed-in half bath. Located at 2307 N Greenwood St in Pueblo’s Historic North Side, the property offers a flexible configuration within an established historic district.
Key Highlights
- 2,092‑square‑foot duplex built in 1903
- Main residence includes 3 bedrooms and 1.5 baths
- One‑bedroom ADU with laundry and private wraparound Trex deck
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
$17,124
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
3.81%
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%
$342,480
$342.5K
Cap Rate 7%
$244,629
$244.6K
Cap Rate 9%
$190,267
$190.3K
Market Conditions
NOI Build-Up for 2,092 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
$25.4K $12.12/SF
− Vacancy
−$892 −$0.43/SF
EGI
$24.5K $11.69/SF
− OpEx
−$7.3K −$3.51/SF
NOI
$17.1K $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%
$342,480
Cap Rate 7%
$244,629
Cap Rate 9%
$190,267
Alternative Uses
Best Use
Multifamily LT 5
$244.6K
$214.1K – $285.4K
NOI $17,124 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$220.3K
$192.8K – $257.1K
NOI $15,424 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$435.9K
$381.4K – $508.6K
NOI $30,515 @ 7.0% cap · market cap 6.78%
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
836
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 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 - Character-rich duplex with a primary residence, one-bedroom ADU, oversized garage, private deck, and landscaped outdoor areas.
Where is this duplex located?
The property is located at 2307 N Greenwood St Pueblo, CO.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 2,092‑square‑foot duplex built in 1903; Main residence includes 3 bedrooms and 1.5 baths; One‑bedroom ADU with laundry and private wraparound Trex deck
