Updated Two-Unit
For Sale
$220,000
723 E 2nd St, Pueblo, CO 81001
Two residences provide private entrances and individual laundry hookups.
Property Size2,190 SF
Price / SF$100.46
Days on Market23
Property Features for 723 E 2nd St
General Information
Standard status
Active
Size
2,190 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$19,500
Taxes and HOA fees
Annual Taxes
$890
Amenities
fireplace
laundry hookups
off-street parking
Building Details
Year Built
1906
Buildings
1
Listing Agency:
Keller Williams Clients Choice
(719) 535-0355
Listed By:
Eric Estrada · License #ER100048439
(719) 722-0009
Source:
Exitrealty
Added: Aug 19
Changed: Sep 5
Last Checked: Sep 10 at 6:18AM
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 Keller Williams Clients Choice
Investment Insights
Based on property information with market context.
Built in 1906, this 2,190-square-foot duplex contains two separate residences, each with 2 bedrooms, 1 full bathroom, a private entrance, and individual laundry hookups. Recent improvements include new hardwood flooring in the main-level unit and fresh exterior paint. That unit also features a fireplace, while an unfinished basement provides additional storage space. Dedicated off-street parking is located at the rear, with on-street parking available along the front.
The property is located at 723 E 2nd St in Pueblo, Colorado, minutes from Downtown Pueblo and the Historic Arkansas Riverwalk. Restaurants, shopping, entertainment, and community events are accessible from the property. The two-unit layout supports separate occupancy, with each residence maintaining its own entrance and laundry connections.
The property is located at 723 E 2nd St in Pueblo, Colorado, minutes from Downtown Pueblo and the Historic Arkansas Riverwalk. Restaurants, shopping, entertainment, and community events are accessible from the property. The two-unit layout supports separate occupancy, with each residence maintaining its own entrance and laundry connections.
Key Highlights
- 2,190‑square‑foot duplex built in 1906
- Two separate units, each with 2 bedrooms and 1 full bathroom
- Private entrances and individual laundry hookups for both units
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
$17,926
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
8.15%
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%
$358,520
$358.5K
Cap Rate 7%
$256,086
$256.1K
Cap Rate 9%
$199,178
$199.2K
Market Conditions
NOI Build-Up for 2,190 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
$26.5K $12.12/SF
− Vacancy
−$934 −$0.43/SF
EGI
$25.6K $11.69/SF
− OpEx
−$7.7K −$3.51/SF
NOI
$17.9K $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%
$358,520
Cap Rate 7%
$256,086
Cap Rate 9%
$199,178
Alternative Uses
Best Use
Multifamily LT 5
$256.1K
$224.1K – $298.8K
NOI $17,926 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$230.7K
$201.8K – $269.1K
NOI $16,146 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$456.4K
$399.3K – $532.4K
NOI $31,945 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,007
Businesses Nearby
Explore this area
Business Placement
Demographics for 81001, CO
31,107
Population
13,651
Households
2.3
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
32.0 sq mi
ZIP Area
972
Density / Sq Mi
$47,086
Median Household Income
$35,204
Median Earnings
$1,027
Median Rent
$208,400
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 - Two residences provide private entrances and individual laundry hookups.
Where is this duplex located?
The property is located at 723 E 2nd St Pueblo, CO.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 2,190‑square‑foot duplex built in 1906; Two separate units, each with 2 bedrooms and 1 full bathroom; Private entrances and individual laundry hookups for both units
