205 N Murray Blvd

Colorado Springs, CO 80916

$55,000F

3 bd · 2.0 ba · 8,884 sqft · Built 1983 · Manufactured · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,536/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$92
• HOA: −$965
• Vac / Maint / Mgmt: −$323
• Net cashflow: $-131/mo
• Annual: $-1,578/yr
• Cap rate: 3.42%
• Cash-on-cash: -10.25%
• DSCR: 0.54
• 1% rule: 2.79%
• Cash to close: $15,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $55k.
• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $36k (34.6% below list).
• Meets the 1% rule at list price ($2k rent vs $55k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $36k (34.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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.
• Watch-outs: HOA is 63% of rent.
• Market conditions: Rents rising (+2.4%/yr); 189 active listings in the ZIP; 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.
• 25 sale attempts; this cycle's ask is 10% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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.