Duplex With Attached
New
For Sale
$449,500
357 W Spaulding Ave S, Pueblo West, CO 81007
Residential Income, Pueblo West, CO
Property Size2,028 SF
Lot Size0.28 Acres
Price / SF$221.65
Days on Market1
Property Features for 357 W Spaulding Ave S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-3
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3
Parking
4
Parking features
Open, Garage - Attached
Window features
Vinyl Frames
Patio and Porch features
Patio, Porch
Interior features
Ceiling Fan(s)
Fencing
Wood
Appliances
Dishwasher-All, Garbage Disposal-All, Refrigerator-All, Electric Range-All
Subdivision
Pueblo West Acreage
Elementary school
District 70
Middle school
District 70
High school
District 70
Standard status
Active
APN
0615119015
Size
2,028 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 4 BLK 15 TR 339 PUEBLO WEST
Tax Annual Amount
2390
Legal Description
LOT 4 BLK 15 TR 339 PUEBLO WEST
Utilities
Heating system
Forced Air
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1999
Number of units
2
Building materials
Frame, Stucco, Copper Plumbing, Plastic Plumbing
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Pink Realty
(719) 888-7465
Listed By:
Julie Batulis
(719) 963-8660
Added: Sep 22
Last Checked: Sep 22 at 11:06PM
MLS# 236823
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.
Built in 1999, this ranch-style duplex contains approximately 2,028 square feet across two units. Each side includes 2 bedrooms, 1 bathroom, comfortable living areas, a patio or porch, and an attached 2-car garage. Interior features include ceiling fans, forced-air heat, and wall-unit cooling, while the kitchens are equipped with dishwashers, garbage disposals, refrigerators, and electric ranges.
Both units are occupied by month-to-month tenants, providing an existing rental arrangement with flexibility for future ownership plans. The property sits on 0.282 acres in Pueblo West and is served by public water. Additional physical features include frame and stucco construction, copper and plastic plumbing, composition roofing, wood fencing, and open parking. Zoning is R-3.
Both units are occupied by month-to-month tenants, providing an existing rental arrangement with flexibility for future ownership plans. The property sits on 0.282 acres in Pueblo West and is served by public water. Additional physical features include frame and stucco construction, copper and plastic plumbing, composition roofing, wood fencing, and open parking. Zoning is R-3.
Key Highlights
- Two‑unit duplex totaling approximately 2,028 square feet
- Each unit offers 2 bedrooms and 1 bathroom
- Attached 2‑car garage provided for each unit
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
$16,541
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
3.68%
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%
$330,820
$330.8K
Cap Rate 7%
$236,300
$236.3K
Cap Rate 9%
$183,789
$183.8K
Market Conditions
NOI Build-Up for 2,028 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
$24.3K $12.00/SF
− Vacancy
−$706 −$0.35/SF
EGI
$23.6K $11.65/SF
− OpEx
−$7.1K −$3.50/SF
NOI
$16.5K $8.16/SF
Area
Pueblo County, CO
Vacancy
2.90%
Lease Rate
$12.00 /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%
$330,820
Cap Rate 7%
$236,300
Cap Rate 9%
$183,789
Alternative Uses
Best Use
Multifamily LT 5
$236.3K
$206.8K – $275.7K
NOI $16,541 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$198.0K
$173.3K – $231.0K
NOI $13,862 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$422.6K
$369.8K – $493.0K
NOI $29,582 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 81007, CO
33,263
Population
12,678
Households
2.6
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
136.5 sq mi
ZIP Area
244
Density / Sq Mi
$95,419
Median Household Income
$50,572
Median Earnings
$1,319
Median Rent
$371,600
Median Home Value
Check the figures for this property
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 - Ranch-style duplex with two occupied units, individual garages, and flexible month-to-month tenancy.
Where is this duplex located?
The property is located at 357 W Spaulding Ave S Pueblo West, CO.
What is the asking price?
The asking price for this property is $449,500.
What are key features of this property?
This property features: Two‑unit duplex totaling approximately 2,028 square feet; Each unit offers 2 bedrooms and 1 bathroom; Attached 2‑car garage provided for each unit
