Two-Unit Duplex with Fenced
For Sale
$259,900
3223-3225 Baltimore Ave, Pueblo, CO 81008
Residential Income, Pueblo, CO
Property Size1,673 SF
Lot Size0.14 Acres
Price / SF$155.35
Days on Market53
Property Features for 3223-3225 Baltimore Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bedroom 2
Parking features
None
Window features
Single Pane Window(s)
Fencing
Fenced
Fireplace
1
Appliances
Refrigerator-Some, Electric Range-Some
Subdivision
Northside/Avenues
Elementary school
60
Middle school
60
High school
60
Standard status
Active
APN
0514424024
Size
1,673 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 6 BLK 20 COUNTRY CLUB HEIGHTS 8TH
Tax Annual Amount
1059
Legal Description
LOT 6 BLK 20 COUNTRY CLUB HEIGHTS 8TH
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1970
Floors in Building
2
Number of units
2
Building materials
Frame, Copper Plumbing
Roof type
Composition
Listing Agency:
RE/MAX Of Pueblo Inc · RE/MAX International
(719) 546-1717
Listed By:
Jim Valdez Sales Team
(719) 406-3536
Added: Jul 20
Changed: Aug 19
Last Checked: Sep 10 at 1:06PM
MLS# 241257
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 1,673-square-foot duplex at 3223-3225 Baltimore Ave in Pueblo contains two residential units. Each unit includes 2 bedrooms, 1 bathroom, a kitchen, and a living room. The property was built in 1970 and features frame construction, copper plumbing, composition roofing, and a fireplace. Natural gas forced-air heating serves the building.
The 0.14-acre parcel is fenced and connected to public water and public sewer. Appliances include some refrigerators and electric ranges. The property has no designated parking features. R-2 zoning applies to the site.
The 0.14-acre parcel is fenced and connected to public water and public sewer. Appliances include some refrigerators and electric ranges. The property has no designated parking features. R-2 zoning applies to the site.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- 1,673 square feet on a 0.14‑acre parcel
- R‑2 zoning with public water and public sewer
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
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Open 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - R-2-zoned duplex with public water and sewer service.
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‑unit duplex with 2 bedrooms and 1 bathroom in each unit; 1,673 square feet on a 0.14‑acre parcel; R‑2 zoning with public water and public sewer
