326 Audubon Dr

Colorado Springs, CO 80910

$261,000D+

3 bd · 3.0 ba · 1,501 sqft · Built 2005 · SingleFamily · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,053/mo
• Mortgage (P&I): −$1,369
• Tax + insurance: −$206
• HOA: −$28
• Vac / Maint / Mgmt: −$431
• Net cashflow: $19/mo
• Annual: $232/yr
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• 1% rule: 0.79%
• Cash to close: $73,080

Investor read

• This is a 3-bed/3.0-bath single-family listed at $261k.
• At list price, monthly cash flow is $19 ($232/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (21.3% below list).
• It's been on market 16 days — a 2% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $205k (21.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#23 in CO, #2,639 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, housing A+, health & safety A+; Watch: cost of living C-, crime F.
• Colorado Springs School District No. 11 In The County Of E (urban): math 20% / reading 37% proficiency, ranked #56 of 86 in CO (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Monroe Elementary School (math 5% / reading 12%, grade F, #922 of 966 statewide, top 97%, 360 students, 81% FRL); Jack Swigert Aerospace Academy (math 5% / reading 17%, grade F, #242 of 270 statewide, top 90%, 479 students, 80% FRL); Mitchell High School (math 2% / reading 22%, grade F, #352 of 381 statewide, top 94%, 886 students, 72% FRL) — zoned schools average 77% FRL vs 49% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 28% district-wide (-18 pts) — the specific schools serving this property underperform the Colorado Springs School District No. 11 In The County Of E average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.5%/yr); 188 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 3,906 units permitted in El Paso County in 2024 (872 in 5+ unit buildings).
• El Paso County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.4% vs local median 3.3% in Colorado Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 40% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.