Duplex With Attached
For Sale
$560,000
983-985 S Knox Dr, Pueblo West, CO 81007
Residential Income, Pueblo West, CO
Property Size2,938 SF
Lot Size0.28 Acres
Price / SF$190.61
Days on Market58
Property Features for 983-985 S Knox Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-3
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 2
Parking
4
Parking features
Garage - Attached, Open
Window features
Vinyl Frames, Window Coverings, Double Pane Windows
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Vaulted Ceiling(s), Walk-In Closet(s), Cable TV, Walk-in Shower
Fencing
Wood
Basement
Crawl Space
Appliances
Tankless/On Demand Water Heater, Dishwasher-All, Garbage Disposal-All, Refrigerator-All, Electric Range-All, Microwave Built-In-All
Subdivision
Pueblo West Acreage
Lot features
Cul-De-Sac, Corner Lot, Rock- Rear, Rock- Front
Elementary school
70
Middle school
70
High school
70
Standard status
Active
APN
0622118009
Size
2,938 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 6 BLK 4 TR 348 PUEBLO WEST
Tax Annual Amount
3648
Legal Description
LOT 6 BLK 4 TR 348 PUEBLO WEST
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
stainless steel appliances
laminate flooring
tankless water heaters
fully fenced backyard
private patio
Building Details
Year built
2023
Number of units
2
Building materials
Frame, Stucco, Copper Plumbing, Plastic Plumbing
Roof type
Composition
Architectural style
Ranch
Listing Agency:
EXIT Realty DTC, Cherry Ck, P.P
(303) 790-7200
Listed By:
Rich Mayo
(719) 369-2766
Added: Jul 20
Changed: Sep 12
Last Checked: Sep 15 at 8:06PM
MLS# 241264
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.
This 2023 ranch-style duplex contains 2,938 square feet of finished living space across two residences. Each unit provides 3 bedrooms, 2 bathrooms, an attached 2-car garage, a private patio, and access to the fully fenced backyard. Interior features include stainless steel appliances, laminate flooring, vaulted ceilings, walk-in closets, central air, forced-air natural gas heating, and tankless water heaters. Public water and public sewer serve the property, which is constructed with frame and stucco materials beneath a composition roof.
Both units are occupied by tenants under leases. The property is located in Pueblo West, Colorado, and carries R-3 zoning. A total of 6 bedrooms, 4 bathrooms, and 4 garage spaces supports the two-unit configuration, while separate patios provide each residence with dedicated outdoor space.
Both units are occupied by tenants under leases. The property is located in Pueblo West, Colorado, and carries R-3 zoning. A total of 6 bedrooms, 4 bathrooms, and 4 garage spaces supports the two-unit configuration, while separate patios provide each residence with dedicated outdoor space.
Key Highlights
- 2023‑built duplex 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
4.28%
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 4.28%
Second Best
Apartment 5plus
$286.9K
$251.0K – $334.7K
NOI $20,082 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$612.2K
$535.7K – $714.3K
NOI $42,856 @ 7.0% cap · market cap 7.65%
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
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
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 - Two ranch-style units offer private patios, fenced outdoor space, and updated residential 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 $560,000.
What are key features of this property?
This property features: 2023‑built duplex 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
