Duplex with Detached
For Sale
$249,500
706 Topeka Ave, Pueblo, CO 81006
Two separate residences offer private fenced outdoor areas, alley access, and a detached garage for the front home.
Property Size2,496 SF
Days on Market78
Property Features for 706 Topeka Ave
General Information
Standard status
Active
Size
2,496 SF
Total Parking Spaces
1
Property subtype
Multi Family Home
Zoning
R-4
Occupancy
100%
Lease Term
12 Months
Additional Details
Gross Income
$33,456
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,489
Amenities
private fenced yards
Building Details
Building Size
2,496 SF
Year Built
1928
Year Renovated
2024
Buildings
2
Units
2
Listing Agency:
Buy Smart Colorado
(719) 216-4057
Listed By:
Caleb Skelton · License #FA100077073
(719) 216-4057
Source:
Pikespeakdreamhomesrealty
Added: Jun 13
Changed: Aug 29
Last Checked: Aug 29 at 7:19PM
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 Buy Smart Colorado
Investment Insights
Based on property information with market context.
This R-4-zoned duplex property consists of a primary single-family residence and a detached rear cottage. The larger home includes an unfinished basement for storage or future finishing, while the front residence also has a detached garage. Each unit has its own fenced yard, and the cottage is reached from the alley for a separate access point.
The property was remodeled in 2024, and both residences are occupied by long-term tenants. Ownership covers water service; residents handle electric, gas, and trash. Built in 1928, the property provides two distinct residential units within a configuration suited to rental ownership.
The property was remodeled in 2024, and both residences are occupied by long-term tenants. Ownership covers water service; residents handle electric, gas, and trash. Built in 1928, the property provides two distinct residential units within a configuration suited to rental ownership.
Key Highlights
- Duplex configuration with a primary home and detached rear cottage
- R‑4 zoning
- Both units remodeled in 2024 and occupied by long‑term tenants
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
$20,431
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
8.19%
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%
$408,620
$408.6K
Cap Rate 7%
$291,871
$291.9K
Cap Rate 9%
$227,011
$227.0K
Market Conditions
NOI Build-Up for 2,496 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
$30.3K $12.12/SF
− Vacancy
−$1.1K −$0.43/SF
EGI
$29.2K $11.69/SF
− OpEx
−$8.8K −$3.51/SF
NOI
$20.4K $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%
$408,620
Cap Rate 7%
$291,871
Cap Rate 9%
$227,011
Alternative Uses
Best Use
Multifamily LT 5
$291.9K
$255.4K – $340.5K
NOI $20,431 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$262.9K
$230.0K – $306.7K
NOI $18,402 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$520.1K
$455.1K – $606.8K
NOI $36,408 @ 7.0% cap · market cap 14.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 81006, CO
11,653
Population
4,795
Households
2.4
Avg Household Size
46
Median Age
23%
College-Educated
92%
High-School Grad
112.4 sq mi
ZIP Area
104
Density / Sq Mi
$68,915
Median Household Income
$46,750
Median Earnings
$1,176
Median Rent
$317,200
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 - Two separate residences offer private fenced outdoor areas, alley access, and a detached garage for the front home.
Where is this duplex located?
The property is located at 706 Topeka Ave Pueblo, CO.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: Duplex configuration with a primary home and detached rear cottage; R‑4 zoning; Both units remodeled in 2024 and occupied by long‑term tenants
