624 Bryce Dr · Colorado Springs, CO 80910

$279,900

4 bd · 2.0 ba · 1,724 sqft · SingleFamily public records · 82 Days on market

Built 1961 6,890 sqft lot Est $347k · 19% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• DSCR +4.6/10.0
• Livability +3.9/5.0
• 1% rule +3.0/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss out on this opportunity in Pikes Peak Park! This fully-finished tri-level boasts a low-maintenance lot, loaded with xeriscaping and is fully-fenced in front and back. There is ample off-street parking that even leads to the back yard, if needed, but protected by a full gate for security. The flooring throughout is primarily a mix of real hardwood and LVP. A large wood-burning fireplace graces the main-level living room, perfect for those chilly Colorado evenings. Quite a few updates have already been completed and this home awaits your final touches, so definitely come see it today!

Key facts

• Low-maintenance lot
• Updates completed
• Xeriscaping

Tags

• LOW-MAINTENANCE LOT
• XERISCAPING
• FULLY-FENCED
• AMPLE OFF-STREET PARKING
• LARGE WOOD-BURNING FIREPLACE
• UPDATES COMPLETED

Property features AI

Finance

• Financial info: Financing available: Cash, Conventional, FHA 203(k)
• HOA & community: No HOA

Exterior

• Utilities: Municipal water; Other utilities
• Home design: Single family home
• Construction: Wood frame construction; Aluminum/vinyl/steel siding; Composite shingle roof; Slab foundation; Existing home
• Exterior features: Level lot

Interior

• Bedrooms: Primary bedroom on the upper level
• Bathrooms: 2 full bathrooms
• Interior features: Central air; Forced air heating

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $82 ($979/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 $223k (20.4% below list).
• Recommended offer: $223k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.

Location & tenants

• 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.
• Market conditions: Rents soft (-1.5%/yr); 183 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 3,906 units permitted in El Paso County in 2024 (872 in 5+ unit buildings).
• This rent runs 43% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• 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 82 days — a 6% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $222,796 (20.4% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.25%
• DSCR: 1.06
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $346,524
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
604 Bryce Dr	0.06mi	4/3.0	1,599 (-7%)	4mo	$310,000	$194	78
425 Placid Rd	0.19mi	4/2.0	1,785 (+4%)	12mo	$380,000	$213	75
810 Hutchinson Dr	0.24mi	4/2.0	1,577 (-8%)	6mo	$355,000	$225	70
823 Sequoia Dr	0.21mi	4/2.0	1,599 (-7%)	11mo	$397,000	$248	70
931 Hayden Dr	0.29mi	4/2.0	1,577 (-8%)	6mo	$299,900	$190	67
524 Winnepeg Dr	0.27mi	4/2.0	1,920 (+11%)	10mo	$289,000	$151	61
3231 Michigan Ave	0.64mi	4/2.0	1,821 (+6%)	2mo	$360,000	$198	59
1223 Royale Dr	0.67mi	4/2.5	1,791 (+4%)	2mo	$257,385	$144	58
1115 Rainier Dr	0.63mi	4/2.0	1,596 (-7%)	7mo	$321,000	$201	52
1123 Royale Dr	0.61mi	3/2.0 (-1)	1,508 (-12%)	2mo	$320,000	$212	44
321 Kenady Cir	0.59mi	3/2.0 (-1)	1,922 (+12%)	8mo	$369,000	$192	41
1206 Yosemite Dr	0.73mi	3/2.0 (-1)	1,465 (-15%)	8mo	$315,000	$215	29

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.40×
• Total profit: $-46,814
• Equity at exit: $41,734

10-year hold

• IRR: -15.3%
• Equity multiple: 0.24×
• Total profit: $-59,810
• Equity at exit: $24,201

Cash invested: $78,372 (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 80910

• Home prices YoY: -27.5%
• Rents YoY: -1.5%
• Active inventory: 183
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,228 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$94 /mo · $1,129/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $82

Break-even live

Break-even rent $2,125

Max offer price $279,900

Occupancy floor 91%

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 Sequoia Dr Colorado Springs, CO	4.0	2.0	1694	$2,700	$1.59	3d	1	0.24mi
2902 Airport Rd Colorado Springs, CO	2.0–3.0	1.0–2.0	1202	$1,900	$1.58	3d	2	0.42mi
2205 Willow Tree Grv Colorado Springs, CO	1.0–3.0	1.0–2.0	962	$2,170	$2.25	3d	21	0.44mi
3005 E Fountain Blvd Colorado Springs, CO	3.0	1.5	1950	$2,000	$1.03	14d	1	0.71mi
3106 Gomer Ave Colorado Springs, CO	3.0	1.0	1162	$1,895	$1.63	14d	1	0.77mi
106 Balfour Ave Colorado Springs, CO	3.0	1.0	1391	$2,000	$1.44	23d	1	0.79mi
2528 Gilpin Ave Colorado Springs, CO	3.0	2.0	1666	$2,229	$1.34	2d	1	0.93mi
3125 E Fountain Blvd Colorado Springs, CO	2.0–3.0	1.5	1650	$1,875	$1.14	2d	7	0.94mi
2153 Gilpin Ave Colorado Springs, CO	3.0	2.5	1520	$2,200	$1.45	2d	1	0.96mi
1819 E Bijou St Colorado Springs, CO	5.0	2.0	1850	$1,950	$1.05	23d	1	1.04mi
3591 Indigo Ridge Pt Colorado Springs, CO	4.0	2.0	2040	$2,195	$1.08	3d	1	1.05mi
1842 Springs Vista St Colorado Springs, CO	3.0	2.5	1600	$2,243	$1.40	23d	1	1.18mi
213 Audubon Dr Colorado Springs, CO	3.0	3.0	2157	$2,325	$1.08	23d	1	1.22mi
70 Audubon Dr Colorado Springs, CO	3.0	2.0	1189	$2,000	$1.68	23d	1	1.25mi
2138 Phillips Aly Colorado Springs, CO	3.0	2.5	1602	$2,072	$1.29	14d	1	1.26mi
2874 Carmel Cir Colorado Springs, CO	4.0	1.0	1117	$1,995	$1.79	2d	1	1.35mi
2335 CoralBell Grv Colorado Springs, CO	1.0–3.0	1.0–2.0	997	$2,498	$2.50	23d	34	1.35mi
2335 CoralBell Grv Colorado Springs, CO	2.0–3.0	1.0–2.0	1004	$2,195	$2.19	2d	7	1.35mi
2115 Birmingham Loop Colorado Springs, CO	1.0–3.0	1.0–2.0	923	$2,382	$2.58	2d	24	1.36mi
1953 Birmingham Loop Colorado Springs, CO	3.0	2.0	1692	$2,500	$1.48	11d	1	1.41mi
1518 Tyram Grv Unit 102 Colorado Springs, CO	3.0	3.0	1552	$2,195	$1.41	2d	1	1.48mi
2046 Del Mar Dr Colorado Springs, CO	5.0	2.0	1824	$2,500	$1.37	2d	1	1.49mi

Listing history 34 events

1. 2026-06-18
   days on market $279,900 Active 82 DOM
2. 2026-06-17
   days on market $279,900 Active 81 DOM
3. 2026-06-16
   days on market $279,900 Active 80 DOM
4. 2026-06-15
   price $279,900 Active 79 DOM
5. 2026-06-15
   days on market $289,900 Active 79 DOM
6. 2026-06-14
   days on market $289,900 Active 77 DOM
7. 2026-06-10
   days on market $289,900 Active 74 DOM
8. 2026-06-09
   days on market $289,900 Active 73 DOM
9. 2026-06-08
   days on market $289,900 Active 72 DOM
10. 2026-06-07
    days on market $289,900 Active 71 DOM
11. 2026-06-05
    days on market $289,900 Active 68 DOM
12. 2026-06-03
    days on market $289,900 Active 67 DOM
13. 2026-06-03
    days on market $289,900 Active 66 DOM
14. 2026-06-01
    days on market $289,900 Active 65 DOM
15. 2026-05-31
    days on market $289,900 Active 64 DOM
16. 2026-05-12
    price $289,900
17. 2026-03-28
    listed $309,900 Active
18. 2025-03-28
    historical
19. 2025-03-28
    historical
20. 2025-01-30
    listed $330,000 Active
21. 2025-01-30
    listed $330,000 Active
22. 2023-09-15
    historical
23. 2023-09-15
    historical
24. 2023-08-20
    price $340,000
25. 2023-08-20
    price $340,000
26. 2023-08-20
    price $340,000
27. 2023-08-05
    price $355,000
28. 2023-08-05
    price $355,000
29. 2023-08-05
    price $355,000
30. 2023-07-22
    listed $365,000 Active
31. 2023-07-22
    listed $365,000 Active
32. 2021-07-08
    soldstatus $321,000
33. 2018-10-02
    soldstatus $225,000
34. 1967-07-01
    soldstatus $13,800

ⓘ 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: $1,129 · $94/mo
• Projected year-2 tax: $1,539 · $128/mo
• Expected delta: +$411/yr (+$34/mo · 36.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,736
• − Mortgage interest: −$15,679
• − Property taxes: −$1,129
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,139
• − Management: −$2,139
• − Depreciation: −$8,143
• Taxable loss: −$3,892
• Est. tax savings @ 24.0%: +$934
• After-tax cash flow: $1,913/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: Colorado Springs School District No. 11 In The County Of E
• NCES district ID: 0803060
• Math proficiency: 20% ▼ -8.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $47,884
• Composite: 24.69/100
• National rank: #7613
• State rank: #56 of 86 in CO

Livability — Colorado Springs

• Score: 78/100
• State rank: #23
• US rank: #2639

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colorado Springs, CO
• County: El Paso County · 689,348 people
• City population: 555,783
• Metro: Colorado Springs, CO
• Population (ZIP): 31,368
• Household income: $61,969
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1449.0

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 0.68)
• Race & ethnicity: White 44% Hispanic / Latino 33% Two or more races 17% Black 11% Native American 3% Asian 3%
• Hispanic origin (detail): Mexican 24% Puerto Rican 3%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 78% English-only · Spanish 17% German/W. Germanic 1% Other Indo-European 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: ▼ -121.36%
• Current HPI: 320.6817
• Rent YoY: ▼ -1.51%
• 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

+2000.7% since first listed

19 events — show timeline

• 2026-05-12 Price Changed $289,900 elevateMLS
• 2026-03-28 Listed $309,900 elevateMLS
• 2025-03-28 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-03-28 Listing Removed — IRES
• 2025-01-30 Listed $330,000 REColorado as Distributed by MLS Grid
• 2025-01-30 Listed $330,000 IRES
• 2023-09-15 Listing Removed — REColorado as Distributed by MLS Grid
• 2023-09-15 Listing Removed — IRES
• 2023-08-20 Price Changed $340,000 elevateMLS
• 2023-08-20 Price Changed $340,000 REColorado as Distributed by MLS Grid
• 2023-08-20 Price Changed $340,000 IRES
• 2023-08-05 Price Changed $355,000 elevateMLS
• 2023-08-05 Price Changed $355,000 REColorado as Distributed by MLS Grid
• 2023-08-05 Price Changed $355,000 IRES
• 2023-07-22 Listed $365,000 REColorado as Distributed by MLS Grid
• 2023-07-22 Listed $365,000 IRES
• 2021-07-08 Sold (Public Records) $321,000 Public Records
• 2018-10-02 Sold (Public Records) $225,000 Public Records
• 1967-07-01 Sold (Public Records) $13,800 Public Records

Property tax history

+3.2%/yr

Latest (2024): $1,129 · +10.9% YoY. Source: county tax records.