Two-Unit Duplex with Detached
New
For Sale
$179,900
325 Michigan Ave, Pueblo, CO 81004
Residential Income, Pueblo, CO
Property Size2,082 SF
Lot Size0.11 Acres
Price / SF$86.41
Days on Market2
Property Features for 325 Michigan Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2
Parking
1
Parking features
Garage - Detached
Window features
Single Pane Window(s)
Patio and Porch features
Porch
Basement
Partially Finished
Appliances
Refrigerator-All, Electric Range-None
Subdivision
Central High School
Lot features
Trees- Rear, Trees- Front
Elementary school
60
Middle school
60
High school
60
Special listing conditions
In Foreclosure
Standard status
Active
APN
150213015
Size
2,082 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT D LESS NWLY 80 FT BLK 134 CAMERONS SUB
Tax Annual Amount
1515
Legal Description
LOT D LESS NWLY 80 FT BLK 134 CAMERONS SUB
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Floors in Building
1
Number of units
2
Flooring type
Hardwood
Building materials
Frame
Roof type
Composition
Listing Agency:
Diamond Realty
Listed By:
Dottie Kraska · License #FA40012421
(719) 406-0580
Added: Sep 1
Last Checked: Sep 2 at 4:06PM
MLS# 240779
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 2,082-square-foot duplex was built in 1900 on a 0.11-acre lot and includes two distinct living areas. The main level contains two bedrooms, one full bathroom, central air, hardwood flooring, and a porch. The upper residence has its own entrance, two bedrooms, and one bathroom. The property is frame construction with natural gas heat, a composition roof, and a detached garage. Some work is needed, offering an opportunity to update the interiors while retaining the existing two-unit configuration.
The property is located one block from Central High in Pueblo's 81004 area, with vintage homes nearby. Public water and public sewer serve the property, and the zoning is R-2.
The property is located one block from Central High in Pueblo's 81004 area, with vintage homes nearby. Public water and public sewer serve the property, and the zoning is R-2.
Key Highlights
- Duplex with 2,082 square feet on a 0.11‑acre lot
- Two bedrooms and one full bathroom on each level
- Upper residence has a private entrance
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
$15,350
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
8.53%
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%
$307,000
$307.0K
Cap Rate 7%
$219,286
$219.3K
Cap Rate 9%
$170,556
$170.6K
Market Conditions
NOI Build-Up for 2,082 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
$29.0K $13.92/SF
− Vacancy
−$1.1K −$0.52/SF
EGI
$27.9K $13.40/SF
− OpEx
−$12.6K −$6.03/SF
NOI
$15.4K $7.37/SF
Area
Pueblo, CO
Vacancy
3.70%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
45.00%
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%
$307,000
Cap Rate 7%
$219,286
Cap Rate 9%
$170,556
Alternative Uses
Best Use
Multifamily LT 5
$243.5K
$213.0K – $284.0K
NOI $17,042 @ 7.0% cap · market cap 9.47%
Second Best
Apartment 5plus
$219.3K
$191.9K – $255.8K
NOI $15,350 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$433.8K
$379.6K – $506.2K
NOI $30,369 @ 7.0% cap · market cap 16.88%
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
1,037
Businesses Nearby
Explore this area
Business Placement
Demographics for 81004, CO
26,005
Population
12,597
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
90%
High-School Grad
160.9 sq mi
ZIP Area
162
Density / Sq Mi
$48,620
Median Household Income
$33,925
Median Earnings
$1,002
Median Rent
$181,200
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 - R-2 zoning, a two-level layout, and a detached garage define this residential income property.
Where is this duplex located?
The property is located at 325 Michigan Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Duplex with 2,082 square feet on a 0.11‑acre lot; Two bedrooms and one full bathroom on each level; Upper residence has a private entrance
