1469 Nokomis Dr

Cimarron Hills, CO 80915

$190,000D+

2 bd · 2.0 ba · 1,005 sqft · Built 1981 · Townhouse · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,567/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$147
• HOA: −$0
• Vac / Maint / Mgmt: −$329
• Net cashflow: $95/mo
• Annual: $1,144/yr
• Cap rate: 6.89%
• Cash-on-cash: 2.15%
• DSCR: 1.10
• 1% rule: 0.82%
• Cash to close: $53,200

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $190k.
• At list price, monthly cash flow is $95 ($1k/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 $157k (17.5% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $157k (17.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#111 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, employment A-; Watch: crime F, amenities F, commute 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: Mcauliffe Elementary (math 15% / reading 32%, grade F, #634 of 966 statewide, top 67%, 519 students, 52% 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 68% FRL vs 49% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 28% district-wide (-13 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 rising (+1.6%/yr); 150 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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.
• Current owner paid $30k; list at $190k implies a 540% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.9% vs local median 3.9% in Cimarron Hills — 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.

Questions for listing agent

• 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.