Two-Unit
For Sale
$259,900
3223-3225 Baltimore Ave, Pueblo, CO 81008
Two residential units offer matching bedroom, bathroom, kitchen, and living room layouts.
Property Size1,673 SF
Days on Market41
Property Features for 3223-3225 Baltimore Ave
General Information
Standard status
Active
Size
1,673 SF
Property subtype
Multi Family Home
Zoning
R-2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,059
Building Details
Building Size
1,673 SF
Year Built
1970
Stories
2
Units
2
Listing Agency:
RE/MAX Of Pueblo Inc
(719) 406-3536
Listed By:
Jim Valdez Sales Team
(719) 406-3536
Source:
Pikespeakdreamhomesrealty
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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.
Built in 1970, this duplex contains two residential units with a consistent layout across both sides. Each unit includes two bedrooms, one bathroom, a kitchen, and a living room, creating a straightforward configuration for residential occupancy. The property is located at 3223-3225 Baltimore Ave in Pueblo, Colorado, and carries R-2 zoning.
Key Highlights
- Two residential units in one duplex property
- Each unit includes 2 bedrooms and 1 bathroom
- Both units have a kitchen and living room
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
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer matching bedroom, bathroom, kitchen, and living room layouts.
Where is this duplex located?
The property is located at 3223-3225 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 residential units in one duplex property; Each unit includes 2 bedrooms and 1 bathroom; Both units have a kitchen and living room
