Updated Two-Unit
For Sale
$259,900
Pending
3219-3221 Baltimore Ave, Pueblo, CO 81008
Both residences provide practical two-bedroom layouts with refreshed interiors and owner-occupant flexibility.
Property Size1,673 SF
Days on Market60
Property Features for 3219-3221 Baltimore Ave
General Information
Standard status
Pending
Size
1,673 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1970
Listing Agency:
RE/MAX Of Pueblo Inc
(719) 406-3536
Listed By:
Jim Valdez Sales Team
Source:
719coloradohome
Added: Jul 2
Changed: Aug 28
Last Checked: Aug 28 at 8:11PM
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 RE/MAX Of Pueblo Inc
Investment Insights
Based on property information with market context.
This 1,673-square-foot duplex, built in 1970, contains two residential units with matching layouts. Each unit includes two bedrooms, one bathroom, a kitchen, and a living room, creating a straightforward configuration for residential occupancy. Recent improvements include new flooring and fresh interior paint throughout the units.
The property is offered with an owner-occupant use option and provides a manageable two-unit residential format. Its updated interiors and established construction support a practical ownership profile without requiring a more complex layout.
The property is offered with an owner-occupant use option and provides a manageable two-unit residential format. Its updated interiors and established construction support a practical ownership profile without requiring a more complex layout.
Key Highlights
- Two‑unit duplex with 1,673 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Kitchens and living rooms in both 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
$13,694
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
5.27%
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%
$273,880
$273.9K
Cap Rate 7%
$195,629
$195.6K
Cap Rate 9%
$152,156
$152.2K
Market Conditions
NOI Build-Up for 1,673 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
$20.3K $12.12/SF
− Vacancy
−$714 −$0.43/SF
EGI
$19.6K $11.69/SF
− OpEx
−$5.9K −$3.51/SF
NOI
$13.7K $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%
$273,880
Cap Rate 7%
$195,629
Cap Rate 9%
$152,156
Alternative Uses
Best Use
Multifamily LT 5
$195.6K
$171.2K – $228.2K
NOI $13,694 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$176.2K
$154.2K – $205.6K
NOI $12,335 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$348.6K
$305.0K – $406.7K
NOI $24,403 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 81008, CO
11,868
Population
5,302
Households
2.2
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
102.2 sq mi
ZIP Area
116
Density / Sq Mi
$68,389
Median Household Income
$45,445
Median Earnings
$1,396
Median Rent
$280,400
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 - Both residences provide practical two-bedroom layouts with refreshed interiors and owner-occupant flexibility.
Where is this duplex located?
The property is located at 3219-3221 Baltimore Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,673 square feet; Each unit includes 2 bedrooms and 1 bathroom; Kitchens and living rooms in both units
