Hillside Mesa Duo 5 Plan · Colorado Springs, CO 80924

$484,800

6 bd · 5.0 ba · 2,116 sqft · MultiFamily · 332 Days on market

Excellent condition

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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 +17.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +5.1/10.0
• Condition / age +5.0/5.0
• 1% rule +4.7/10.0
• Appreciation +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.3/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

The Hillside Mesa Duo 5 is a "to be built" duplex, 2-story home and includes 3 beds, loft, 2.5 baths, owner's entry, dining space, covered porch, storage, 2-car garage, patio, and exterior landscaping & fencing. Smart Home Connection Package is Now Included in ALL Classic Homes! Options include owner's entry office or mud bench, 4th bedroom/no loft layout, expanded master shower or master bath soaker tub/shower combo.

Key facts

• 2 parking spots
• Listed 331 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/2.5-bath units multifamily listed at $485k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive. Per door: $188/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $472k (2.7% below list).
• Recommended offer: $427k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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.
• Academy School District No. 20 In The County Of El Paso An (urban): math 45% / reading 65% proficiency, ranked #8 of 86 in CO (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-0.8%/yr); 408 active listings in the ZIP; high-income renter base; 3,906 units permitted in El Paso County in 2024 (872 in 5+ unit buildings).
• This rent runs 41% of the median local income ($139k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $3k of loan paydown is wiped out by about $9k 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 332 days — a 12% lower offer ($427k) is reasonable based on typical stale-listing flexibility.

Recommended offer $426,624 (12.0% below list)

Questions for the listing agent

1. It's been on market 332 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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 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: 0.97% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.32%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.81% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.68×
• Total profit: $-43,783
• Equity at exit: $98,479

10-year hold

• IRR: -3.9%
• Equity multiple: 0.72×
• Total profit: $-38,292
• Equity at exit: $88,319

Cash invested: $135,744 (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 80924

• Home prices YoY: -1.0%
• Rents YoY: -0.8%
• Active inventory: 408
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $4,716 medium
• Mortgage (P&I): −$2,542
• Tax est. 1.5%: −$606 /mo · $7,272/yr
• Insurance: −$202
• HOA: −$0
• Vacancy / Maint / Mgmt: −$990
• Net cashflow: $375

Break-even live

Break-even rent $4,241

Max offer price $484,800

Occupancy floor 87%

Sensitivity live

Price	-10% $710	-5% $543	+0% $375	+5% $208	+10% $40
Rent	-10% $3	-5% $189	+0% $375	+5% $562	+10% $748
Rate	-1.0pp $619	-0.5pp $499	base $375	+0.5pp $250	+1.0pp $122

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	2.5	$4,716
Total (2 units)			$4,716

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: $121,200
• Closing costs: $14,544
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $484,800 Active 332 DOM
2. 2026-06-18
   days on market $484,800 Active 329 DOM
3. 2026-06-17
   days on market $484,800 Active 328 DOM
4. 2026-06-16
   days on market $484,800 Active 327 DOM
5. 2026-06-15
   days on market $484,800 Active 326 DOM
6. 2026-06-14
   days on market $484,800 Active 324 DOM
7. 2026-06-13
   days on market $484,800 Active 323 DOM
8. 2026-06-10
   days on market $484,800 Active 321 DOM
9. 2026-06-09
   days on market $484,800 Active 320 DOM
10. 2026-06-08
    days on market $484,800 Active 319 DOM
11. 2026-06-07
    days on market $484,800 Active 318 DOM
12. 2026-06-05
    days on market $484,800 Active 315 DOM
13. 2026-06-03
    days on market $484,800 Active 314 DOM
14. 2026-06-03
    days on market $484,800 Active 313 DOM
15. 2026-06-01
    days on market $484,800 Active 312 DOM
16. 2026-05-31
    days on market $484,800 Active 311 DOM
17. 2025-07-25
    listed $484,800 Active 437-char remark

    Show marketing remark (437 chars)

    The Hillside Mesa Duo 5 is a "to be built" duplex, 2-story home and includes 3 beds, loft, 2.5 baths, owner's entry, dining space, covered porch, storage, 2-car garage, patio, and exterior landscaping & fencing. Smart Home Connection Package is Now Included in ALL Classic Homes! Options include owner's entry office or mud bench, 4th bedroom/no loft layout, expanded master shower or master bath soaker tub/shower combo.

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

Taxation est. · year 1

• Rental income: $56,592
• − Mortgage interest: −$27,156
• − Property taxes: −$7,272
• − Insurance: −$2,424
• − Repairs & maintenance: −$4,527
• − Management: −$4,527
• − Depreciation: −$14,103
• Taxable loss: −$3,418
• Est. tax savings @ 24.0%: +$820
• After-tax cash flow: $5,324/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.

Condition & rehab AI · 5 photos

Excellent 100/100 None rehab

This is a 'to be built' Hillside Mesa Duo 5 plan, featuring 6 beds and 5 baths, with a 2-car garage and patio. The property is in excellent condition with no visible repairs or maintenance needed.

Schools (NCES district)

• District: Academy School District No. 20 In The County Of El Paso An
• NCES district ID: 0801920
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 65% ▲ 1.00%
• Median HH income: $89,325
• Composite: 50.62/100
• National rank: #1840
• State rank: #8 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): 19,619
• Household income: $139,447
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 464.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 10% Hispanic / Latino 9% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 5% Slovak 3% Romanian 2%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 3% German/W. Germanic 2%

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: ▼ -1.81%
• Current HPI: 180.049
• Rent YoY: ▼ -0.85%
• 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

1 event — show timeline

• 2025-07-25 Listed $484,800 Zillow