1224 Cree Dr · Cimarron Hills, CO 80915

$224,900

4 bd · 2.0 ba · 1,551 sqft · Condo public records · 7 Days on market

Built 1966 $533/mo HOA · 22% of rent

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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).

• Cash flow +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• DSCR +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Finished basement
• Updated kitchen
• Private fenced yard

Tags

• UPDATED KITCHEN
• FINISHED BASEMENT
• PRIVATE FENCED YARD
• DESIGNATED CARPORT
• LOW-MAINTENANCE LIFESTYLE

Property features AI

Finance

• Financial info: Acceptable financing: Cash, Conventional, FHA, VA
• HOA & community: HOA with monthly fee; HOA covers covenant enforcement, lawn care, exterior maintenance, management, snow removal, trash removal and water

Exterior

• Parking: Carport with 2 garage spaces
• Utilities: Municipal water; Cable available; Electricity available; Gas available
• Home design: Townhouse; Ground floor unit
• Construction: Framed on lot construction; Composite shingle roof; Aluminum/Vinyl/Steel siding; Full basement (about 90% finished); Existing home
• Exterior features: Concrete patio; Rear fence; Fully landscaped lot; Level lot with mountain view; Concrete driveway

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven/Range (Gas/Electric); Refrigerator
• Bedrooms: Master bedroom located on the upper level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air; Forced air heating
• Interior features: Central air conditioning; Forced air heating; Basement laundry
• Laundry & utility: Washer; Dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $-10 ($-119/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (0.8% below list).
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $223k (0.8% below list) — sets the bar for cash-flow.
• Cap rate 6.2% 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.

Location & tenants

• 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.
• Market conditions: Rents rising (+1.6%/yr); 145 active listings in the ZIP; 18 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 40% of the median local income ($72k/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 $7k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $93k; list at $225k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,149 (0.8% below list)

Questions for the listing agent

1. 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?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 6.24%
• Cash-on-cash: -0.19%
• DSCR: 0.99
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.59% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.36×
• Total profit: $-40,175
• Equity at exit: $33,533

10-year hold

• IRR: -14.3%
• Equity multiple: 0.24×
• Total profit: $-48,143
• Equity at exit: $19,445

Cash invested: $62,972 (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 80915

• Home prices YoY: -30.2%
• Rents YoY: 1.6%
• Active inventory: 145
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,394 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$95 /mo · $1,140/yr
• Insurance: −$94
• HOA: −$533
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-10

Break-even live

Break-even rent $2,406

Max offer price $223,149

Occupancy floor 95%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7010 Crossbuck Pt Colorado Springs, CO	1.0–3.0	1.0–2.0	981	$2,631	$2.68	2d	17	0.55mi
6944 Palmer Park Blvd Colorado Springs, CO	3.0	2.5	1280	$1,950	$1.52	2d	1	0.70mi
1020 Solace Pond Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	1158	$2,632	$2.27	2d	12	0.74mi
1350 Cascade Creek Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	1042	$2,190	$2.10	3d	24	1.06mi
5704 Ella VW Colorado Springs, CO	1.0–3.0	1.0–3.0	1107	$2,961	$2.67	3d	177	1.07mi
1070 Branding Iron Dr Colorado Springs, CO	3.0	2.0	1526	$1,900	$1.25	23d	1	1.17mi
2284 Reed Grass Way Colorado Springs, CO	3.0	2.5	1853	$2,500	$1.35	3d	1	1.19mi
705 Grissom Dr Colorado Springs, CO	3.0	2.5	1360	$2,139	$1.57	23d	1	1.24mi
5550 Cernan Hts Colorado Springs, CO	1.0–3.0	1.0–2.0	892	$2,225	$2.49	3d	19	1.27mi
1885 Sandtoft Hts Colorado Springs, CO	3.0	2.5	2080	$2,200	$1.06	21d	1	1.28mi
9520 Antora GRV Colorado Springs, CO	1.0–3.0	1.0–2.5	1017	$2,789	$2.74	3d	41	1.29mi
7230 Constitution Square Hts Colorado Springs, CO	1.0–3.0	1.0–2.0	992	$1,700	$1.71	2d	12	1.31mi
6364 Zermatt Dr Colorado Springs, CO	3.0	2.0	1529	$1,980	$1.29	2d	1	1.33mi
5362 Hammond Dr Colorado Springs, CO	4.0	2.5	1748	$2,300	$1.32	23d	1	1.37mi
2434 Vanhoutte Vw Colorado Springs, CO	3.0	2.5	1438	$2,800	$1.95	2d	1	1.38mi
5518 Timeless Vw Colorado Springs, CO	3.0	3.5	2191	$2,250	$1.03	14d	1	1.40mi
6247 Chantilly Pl Colorado Springs, CO	4.0	2.0	1656	$1,935	$1.17	2d	1	1.41mi
7263 Hunter Jumper Dr Colorado Springs, CO	3.0	3.5	2116	$3,500	$1.65	10d	1	1.49mi

HOA detail condo

• Monthly dues: $533 · $6,396/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-18
   days on market $224,900 Active 7 DOM
2. 2026-06-17
   days on market $224,900 Active 6 DOM
3. 2026-06-16
   days on market $224,900 Active 5 DOM
4. 2026-06-15
   days on market $224,900 Active 4 DOM
5. 2026-06-14
   listed $224,900 Active 2 DOM

ⓘ 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: $1,140 · $95/mo
• Projected year-2 tax: $1,237 · $103/mo
• Expected delta: +$97/yr (+$8/mo · 8.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 5 d/yr ≥89°F today · 13 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: $28,727
• − Mortgage interest: −$12,598
• − Property taxes: −$1,140
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,298
• − Management: −$2,298
• − HOA: −$6,396
• − Depreciation: −$6,543
• Taxable loss: −$3,670
• Est. tax savings @ 24.0%: +$881
• After-tax cash flow: $762/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 — Cimarron Hills

• Score: 68/100
• State rank: #111
• US rank: #9580

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cimarron Hills, CO
• County: El Paso County · 689,348 people
• City population: 23,570
• Metro: Colorado Springs, CO
• Population (ZIP): 23,884
• Household income: $72,352
• Rent vs Own: 29.2% rent · 70.8% own
• Severe rent burden: 650.0

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 0.57)
• Race & ethnicity: White 59% Hispanic / Latino 27% Two or more races 15% Black 4% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 6% · Canada, Dominican Republic
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -122.65%
• Current HPI: 283.9227
• Rent YoY: ▲ 1.59%
• 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

+141.8% since first listed

4 events — show timeline

• 2026-06-12 Listed $224,900 elevateMLS
• 2025-08-21 Rental Removed $1,800 SHOWMOJO
• 2025-08-09 Listed for Rent $1,800 SHOWMOJO
• 2002-12-31 Sold (Public Records) $93,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,140 · +26.7% YoY. Source: county tax records.