103 Mojave Way · Fountain, CO 80817

$160,000

2 bd · 2.0 ba · 868 sqft · SingleFamily public records · 64 Days on market

Built 2000 3,872 sqft lot Est $294k · 46% under

---

Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.3/10.0
• Rent growth +3.2/5.0
• Livability +2.9/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This two bedroom single level home is a perfect starter or retirement home. Open the front door to a large, open, carpeted great room with vaulted ceiling and ceiling fan. An expansive kitchen, well-appointed with gorgeous dark cabinetry and tile counter tops, laminate flooring, a black gas stove with a range hood, and a breakfast bar and dining nook for casual dining. The open concept layout allows for effortless entertaining between the kitchen and the airy, living room. Take friends/family outside — the patio and fenced yard outside are perfect for barbecues. Walk back in to the mud room, the perfect place to sit and take off snowy boots and hang up coats! The laundry is just aroun

Key facts

• Expansive kitchen
• Tile counter tops
• Black gas stove

Tags

• OPEN CARPETED GREAT ROOM
• EXPANSIVE KITCHEN
• GORGEOUS DARK CABINETRY
• TILE COUNTER TOPS
• BLACK GAS STOVE
• BREAKFAST BAR

Property features AI

Finance

• Financial info: Financing options: Cash, Conventional, FHA, VA
• HOA & community: Homeowners association exists (no applicable association fee listed)

Exterior

• Parking: Concrete driveway
• Utilities: Municipal water; Electricity
• Home design: Single family home; HUD standard manufactured structure; Level lot; Near park and shopping center
• Construction: Masonite-type siding; Composite shingle roof; Crawl space foundation; Existing home; Basement not finished
• Exterior features: Storage shed; Patio (other); Fully fenced yard; Landscaped

Interior

• Kitchen: Dishwasher; Disposal; Kitchen vent fan; Oven; Range (gas/electric)
• Bedrooms: Main floor bedroom
• Flooring: Carpet; Wood laminate; Luxury vinyl at entry
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Forced air heating; Natural gas heating; Central air; Ceiling fans
• Interior features: Great room; Vaulted ceilings; Breakfast bar
• Laundry & utility: Main floor laundry with electric hook-up

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 4.3% in Fountain — 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.

Location & tenants

• Location reads 58/100 on livability (#300 in CO) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living C-, schools D+, crime D-.
• Fountain School District No. 8 In The County Of El Paso An (suburban): math 22% / reading 41% proficiency, ranked #47 of 86 in CO (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.6%/yr); 233 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,906 units permitted in El Paso County in 2024 (872 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• El Paso County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Recommended offer $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.45%
• DSCR: 1.42
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $294,252
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1107 Grinde Dr	0.20mi	3/1.0 (+1)	895 (+3%)	1mo	$225,000	$251	76
331 Trapper Ln	0.24mi	2/1.0	784 (-10%)	4mo	$230,000	$293	65
307 Iris Dr	0.26mi	3/1.0 (+1)	864 (-0%)	16mo	$302,000	$350	65
910 Fountain Mesa Rd	0.33mi	3/1.0 (+1)	924 (+6%)	5mo	$300,000	$325	61
307 Mount View Ln	0.47mi	3/1.0 (+1)	849 (-2%)	6mo	$287,500	$339	60
594 Blossom Field Rd	0.44mi	3/1.0 (+1)	912 (+5%)	7mo	$330,000	$362	56
420 Rosewood Dr	0.43mi	3/1.0 (+1)	967 (+11%)	2mo	$302,500	$313	50
529 Blossom Field Rd	0.60mi	2/1.0	928 (+7%)	8mo	$325,000	$350	50
216 N Race St	0.67mi	2/1.0	904 (+4%)	12mo	$285,000	$315	48
305 N Santa Fe Ave	0.67mi	2/1.0	812 (-6%)	11mo	$440,000	$542	45
545 Blossom Field Rd	0.56mi	3/1.0 (+1)	980 (+13%)	7mo	$333,500	$340	38
601 Autumn Pl	0.65mi	3/1.0 (+1)	992 (+14%)	2mo	$295,000	$297	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.91×
• Total profit: $-4,150
• Equity at exit: $23,857

10-year hold

• IRR: 6.8%
• Equity multiple: 1.50×
• Total profit: $22,528
• Equity at exit: $13,834

Cash invested: $44,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 38 Tenant-Leaning
• State Colorado: 38 Tenant-Leaning · D+4
• County: — inherits STATE
• City: — inherits STATE

2023 reforms: 10-day cure, mandated notice, source-of-income protected. Courts backlogged in Denver.

Methodology + full state rankings →

ZIP-level market 80817

• Home prices YoY: -30.8%
• Rents YoY: 2.6%
• Active inventory: 233
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,654 high
• Mortgage (P&I): −$839
• Tax from tax record: −$48 /mo · $581/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $353

Break-even live

Break-even rent $1,208

Max offer price $160,000

Occupancy floor 74%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1019 Grinde Dr Fountain, CO	2.0	2.0	1065	$2,070	$1.94	3d	1	0.27mi
909 Grinde Dr Fountain, CO	2.0	1.0	700	$814	$1.16	10d	1	0.31mi
312 W Alabama Ave Fountain, CO	1.0	1.0	660	$1,049	$1.59	21d	1	0.66mi
767 Descendant Dr Fountain, CO	3.0	2.0	1020	$1,895	$1.86	3d	1	0.93mi
6519 Sweet Home GRV Fountain, CO	1.0–3.0	1.0–2.0	1035	$2,202	$2.13	3d	18	1.14mi
404 Sunny Ln Unit 404 Fountain, CO	3.0	1.0	780	$1,275	$1.63	23d	1	1.22mi
406 Sunny Ln Unit 1 Fountain, CO	3.0	1.0	780	$1,313	$1.68	23d	1	1.23mi

Listing history 10 events

1. 2026-05-19
   status Pending
2. 2026-05-06
   price $160,000
3. 2026-04-20
   price $149,500
4. 2026-03-16
   listed $195,000 Active
5. 2025-12-11
   price $195,000
6. 2025-11-18
   price $215,900
7. 2022-11-28
   soldstatus $240,000
8. 2019-03-01
   soldstatus $145,000
9. 2016-04-29
   soldstatus $89,900
10. 2011-04-11
    soldstatus $65,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CO · Resets to sale price

• Current annual tax: $581 · $48/mo
• Projected year-2 tax: $880 · $73/mo
• Expected delta: +$299/yr (+$25/mo · 51.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,849
• − Mortgage interest: −$8,962
• − Property taxes: −$581
• − Insurance: −$800
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − Depreciation: −$4,655
• Taxable income: $1,676
• Est. tax owed @ 24.0%: −$402
• After-tax cash flow: $3,829/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fountain School District No. 8 In The County Of El Paso An
• NCES district ID: 0804080
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 41% ▼ -4.00%
• Median HH income: $51,860
• Composite: 27.55/100
• National rank: #6943
• State rank: #47 of 86 in CO

Livability — Fountain

• Score: 58/100
• State rank: #300
• US rank: #21054

Category grades

Amenities F Commute F Cost of living C- Crime D- Employment C+ Housing A+ Health & safety F User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fountain, CO
• County: El Paso County · 689,348 people
• City population: 31,241
• Metro: Colorado Springs, CO
• Population (ZIP): 31,241
• Household income: $86,543
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 869.0

Population outlook (El Paso County) Hauer SSP2

• Today (2025): 768,926 people
• By 2030: 815,739 · +6.1%
• By 2040: 903,489 · +17.5%
• By 2050: 981,204 · +27.6%
• By 2075: 1,155,542 · +50.3%
• By 2100: 1,202,070 · +56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 24% Two or more races 14% Black 9% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 7% German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · El Paso

• 2024 margin: Lean R (+9.8) · D 43.8% · R 53.5% · Other 2.7%
• 2008→2024 swing: +9.0pp toward D · 2008: -18.8pp · 2024: -9.8pp
• All cycles: 2024: R+9.8 2020: R+10.8 2016: R+22.6 2012: R+21.4 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.77%
• Current HPI: 267.231
• Rent YoY: ▲ 2.63%
• Metro: Colorado Springs, CO
• State GDP YoY: ▲ 1.95%
• F500 in state: 14

Industry mix (Fortune 500 HQ in CO)

Industry	F500 HQs	Revenue
▸Technology Distribution	1	$31B
▸Food / Agriculture	1	$18B
▸Packaging	1	$14B
▸Healthcare	1	$13B
▸Energy	1	$10B
▸Technology	1	$4B

Price history

+146.2% since first listed

10 events — show timeline

• 2026-05-19 Pending — elevateMLS
• 2026-05-06 Price Changed $160,000 elevateMLS
• 2026-04-20 Price Changed $149,500 elevateMLS
• 2026-03-16 Listed $195,000 elevateMLS
• 2025-12-11 Price Changed $195,000 elevateMLS
• 2025-11-18 Price Changed $215,900 elevateMLS
• 2022-11-28 Sold (Public Records) $240,000 Public Records
• 2019-03-01 Sold (Public Records) $145,000 Public Records
• 2016-04-29 Sold (Public Records) $89,900 Public Records
• 2011-04-11 Sold (Public Records) $65,000 Public Records

Property tax history

+4.1%/yr

Latest (2022): $581 · +7.7% YoY. Source: county tax records.