Two-Unit Two-Story
For Sale
$625,000
724 Pioneer Ln, Colorado Springs, CO 80904
One residence is vacant, while the other is tenant-occupied.
Property Size2,571 SF
Price / SF$243.10
Days on Market26
Property Features for 724 Pioneer Ln
General Information
Standard status
Active
Size
2,571 SF
Property subtype
Duplex
Site & Location
Neighborhood
Old Colorado City
Building Details
Year Built
1972
Listing Agency:
NoCo Flex Real Estate
Listed By:
Ian Johnston
(970) 237-4749
Source:
Nocoflex
Added: Oct 6
Changed: Oct 30
Last Checked: Oct 30 at 1:59AM
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 NoCo Flex Real Estate
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Investment Insights
Based on property information with market context.
This 2,571-square-foot duplex, built in 1972, contains two side-by-side residences with reversed layouts. Each has two upstairs bedrooms, a full bath with double sinks, a main-floor half bath, a kitchen with an island and dining area, and a laundry room with washer and dryer. Both residences have private rear patios, and a shared balcony is accessible from a main bedroom. Unit 724 has an unfinished basement and a gravel backyard; Unit 726 has a fenced yard. Interior finishes differ between the two residences, including contrasting cabinetry and trim.
Unit 724 is vacant, and Unit 726 is occupied by a tenant. The property is near schools, parks, shopping, and entertainment, with access to I-25. The shared balcony has views of Pikes Peak.
Unit 724 is vacant, and Unit 726 is occupied by a tenant. The property is near schools, parks, shopping, and entertainment, with access to I-25. The shared balcony has views of Pikes Peak.
Key Highlights
- Two side‑by‑side residences with reversed layouts
- 2,571 square feet; built in 1972
- Each residence has two bedrooms, a full bath, and a main‑floor half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,674
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$673,480
$673.5K
Cap Rate 7%
$481,057
$481.1K
Cap Rate 9%
$374,156
$374.2K
Market Conditions
NOI Build-Up for 2,571 SF
Gross rent
$50.9K $19.80/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$48.1K $18.71/SF
− OpEx
−$14.4K −$5.61/SF
NOI
$33.7K $13.10/SF
Area
Colorado Springs, CO
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$673,480
Cap Rate 7%
$481,057
Cap Rate 9%
$374,156
Alternative Uses
Best Use
Multifamily LT 5
$481.1K
$420.9K – $561.2K
NOI $33,674 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$445.8K
$390.1K – $520.1K
NOI $31,207 @ 7.0% cap · market cap 4.99%
Theoretical Best
Specialty Retail
$507.7K
$444.3K – $592.4K
NOI $35,542 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
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Business Placement
Demographics for 80904, CO
20,986
Population
11,578
Households
1.8
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
11.2 sq mi
ZIP Area
1,874
Density / Sq Mi
$69,566
Median Household Income
$44,494
Median Earnings
$1,417
Median Rent
$413,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant, while the other is tenant-occupied.
Where is this duplex located?
The property is located at 724 Pioneer Ln Colorado Springs, CO.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two side‑by‑side residences with reversed layouts; 2,571 square feet; built in 1972; Each residence has two bedrooms, a full bath, and a main‑floor half bath
