Modern Duplex with
For Sale
$599,900
983-985 S Knox Dr, Pueblo West, CO 81007
Two attached residences offer private patios, fenced outdoor space, and contemporary finishes.
Property Size2,938 SF
Price / SF$204.19
Days on Market43
Property Features for 983-985 S Knox Dr
General Information
Standard status
Active
Size
2,938 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Amenities
stainless steel appliances
laminate flooring
tankless water heaters
fenced backyard
private patio
Building Details
Year Built
2023
Buildings
1
Tenancy
Multi
Listing Agency:
EXIT Realty DTC, Cherry Ck, P.P
(719) 369-2766
Listed By:
Rich Mayo · License #100053306
Source:
719coloradohome
Added: Jul 19
Changed: Aug 29
Last Checked: Aug 29 at 6:39PM
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 EXIT Realty DTC, Cherry Ck, P.P
Investment Insights
Based on property information with market context.
Built in 2023, this duplex at 983-985 S Knox Dr in Pueblo West contains 2,938 square feet of finished living space across two residences. Each unit includes 3 bedrooms, 2 bathrooms, an attached 2-car garage, stainless steel appliances, laminate flooring, and an energy-efficient tankless water heater.
The property provides 6 bedrooms, 4 bathrooms, and 4 garage spaces in total. Both residences have separate private patios and access to a fully fenced backyard. The units are occupied under existing leases, and showings require 48 hours' notice.
The property provides 6 bedrooms, 4 bathrooms, and 4 garage spaces in total. Both residences have separate private patios and access to a fully fenced backyard. The units are occupied under existing leases, and showings require 48 hours' notice.
Key Highlights
- Built in 2023 with 2,938 square feet of finished living space
- Two units, each with 3 bedrooms, 2 bathrooms, and an attached 2‑car garage
- Total of 6 bedrooms, 4 bathrooms, and 4 garage spaces
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
$23,964
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
3.99%
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%
$479,280
$479.3K
Cap Rate 7%
$342,343
$342.3K
Cap Rate 9%
$266,267
$266.3K
Market Conditions
NOI Build-Up for 2,938 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
$35.3K $12.00/SF
− Vacancy
−$1.0K −$0.35/SF
EGI
$34.2K $11.65/SF
− OpEx
−$10.3K −$3.50/SF
NOI
$24.0K $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%
$479,280
Cap Rate 7%
$342,343
Cap Rate 9%
$266,267
Alternative Uses
Best Use
Multifamily LT 5
$342.3K
$299.6K – $399.4K
NOI $23,964 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$286.9K
$251.0K – $334.7K
NOI $20,082 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$612.2K
$535.7K – $714.3K
NOI $42,856 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
42
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two attached residences offer private patios, fenced outdoor space, and contemporary finishes.
Where is this duplex located?
The property is located at 983-985 S Knox Dr Pueblo West, CO.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Built in 2023 with 2,938 square feet of finished living space; Two units, each with 3 bedrooms, 2 bathrooms, and an attached 2‑car garage; Total of 6 bedrooms, 4 bathrooms, and 4 garage spaces
