4537 Lamplighter Cir · Colorado Springs, CO 80916

$150,000

2 bd · 2.0 ba · 1,028 sqft · Condo public records · 202 Days on market

Built 1985 $360/mo HOA · 23% 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 +11.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Key facts

• $360 HOA
• 2 garage spots
• Built 1985

Property features AI

Finance

• Financial info: Acceptable financing: Cash, Conventional, FHA, VA
• HOA & community: HOA required; HOA dues $360 monthly; HOA covers covenant enforcement, snow removal, and trash removal; Complex amenities include green areas

Exterior

• Parking: Assigned garage with 2 spaces
• Utilities: Municipal water; Cable available; Electricity
• Home design: Condominium; Ground floor entry
• Construction: Full basement (100% finished); Existing home
• Exterior features: Wood frame structure; Masonite-type siding; Composite shingle roof; Landscaped; Level lot; Near park, public transit, schools, and shopping

Interior

• Kitchen: 220v outlet in kitchen; Dishwasher; Range oven (gas/electric); Refrigerator
• Bedrooms: Ground floor unit
• Flooring: Carpet; Tile; Vinyl/Linoleum; Luxury vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Ceiling fans
• Interior features: Great room; Skylights; Vaulted ceilings; Main wood fireplace
• Laundry & utility: Washer and dryer included; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-38 ($-462/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (4.5% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.0% 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.
• Harrison School District No. 2 In The County Of El Paso An (urban): math 16% / reading 35% proficiency, ranked #67 of 86 in CO (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 183 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 3,906 units permitted in El Paso County in 2024 (872 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 202 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; list at $150k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% 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. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.03% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.10%
• DSCR: 0.95
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.36% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.34×
• Total profit: $-27,585
• Equity at exit: $22,365

10-year hold

• IRR: -12.7%
• Equity multiple: 0.27×
• Total profit: $-30,529
• Equity at exit: $12,969

Cash invested: $42,000 (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 80916

• Home prices YoY: -27.6%
• Rents YoY: 2.4%
• Active inventory: 183
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,540 high
• Mortgage (P&I): −$787
• Tax from tax record: −$46 /mo · $553/yr
• Insurance: −$62
• HOA: −$360
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $-38

Break-even live

Break-even rent $1,589

Max offer price $143,202

Occupancy floor 98%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4537 Lamplighter Cir Colorado Springs, CO	2.0	1.5	1028	$1,195	$1.16	2d	1	0.03mi
2521 Astrozon Cir Unit 2525 Colorado Springs, CO	2.0	1.0	800	$1,395	$1.74	14d	1	0.12mi
2521 Astrozon Cir Unit 2523 Colorado Springs, CO	2.0	1.0	800	$1,395	$1.74	2d	1	0.12mi
2702 Dickens Dr Colorado Springs, CO	3.0	2.0	1300	$2,093	$1.61	14d	1	0.47mi
1960 S Chelton Rd Colorado Springs, CO	3.0	1.0–2.0	810	$1,223	$1.51	23d	1	0.63mi
4703 Goodwin Grv Colorado Springs, CO	2.0	1.0–2.0	605	$1,525	$2.52	2d	8	0.69mi
4046 Mallette Hts Colorado Springs, CO	1.0–2.0	1.0–2.0	737	$1,659	$2.25	2d	6	0.69mi
4027 Charleston Dr Colorado Springs, CO	3.0	2.0	1232	$2,000	$1.62	14d	1	0.69mi
4919 Rusty Nail Pt Colorado Springs, CO	3.0	1.5	1237	$1,900	$1.54	2d	1	0.72mi
4960 Fountain Ford Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	973	$1,872	$1.92	2d	28	0.72mi
4221 Baytown Dr Unit 4221 Colorado Springs, CO	2.0	2.0	1067	$1,650	$1.55	21d	1	0.73mi
4062 Baytown Dr Colorado Springs, CO	2.0	2.0	1232	$1,795	$1.46	23d	1	0.75mi
4325 Fountain Springs Grv Colorado Springs, CO	1.0–3.0	1.0–2.0	920	$1,328	$1.44	2d	5	0.77mi
1737 Ramjet PT Colorado Springs, CO	2.0	1.0–2.0	642	$1,784	$2.78	2d	42	0.78mi
2023 Murray Creek Ct Colorado Springs, CO	1.0	1.0	569	$1,394	$2.45	2d	4	0.79mi
3178 Starlight Cir Colorado Springs, CO	2.0	1.5	928	$1,550	$1.67	23d	1	0.80mi
3127 Moonbeam Cir S Colorado Springs, CO	3.0	2.0	1482	$2,099	$1.42	2d	1	0.80mi
3066 Starlight Cir Colorado Springs, CO	2.0	1.5	928	$1,300	$1.40	2d	1	0.86mi
3080 Starlight Cir Colorado Springs, CO	2.0	2.0	928	$1,650	$1.78	23d	1	0.88mi
1810 Kaleidos Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	1023	$1,998	$1.95	2d	6	0.91mi
4287 Deerfield Hills Dr Colorado Springs, CO	3.0	1.5	1138	$2,150	$1.89	2d	1	0.93mi
5150 Selby Ranch Pt Colorado Springs, CO	3.0–4.0	2.5–3.5	1626	$2,365	$1.45	2d	93	0.94mi
2129 Delta Dr Colorado Springs, CO	2.0–3.0	1.0–1.5	960	$1,025	$1.07	23d	4	0.94mi
4710 Spacewalk Way Colorado Springs, CO	2.0	2.0	1068	$2,049	$1.92	2d	1	0.99mi
4815 Tory Ridge Dr Colorado Springs, CO	3.0	2.5	1415	$2,850	$2.01	2d	1	1.00mi
4287 Deerfield Hills Rd Colorado Springs, CO	3.0	1.5	1138	$2,150	$1.89	2d	1	1.04mi
3562 Lenoso Ter Colorado Springs, CO	2.0	1.5	985	$1,650	$1.68	2d	6	1.07mi
1825 Zebulon Dr Colorado Springs, CO	2.0	1.0	851	$1,066	$1.25	23d	1	1.08mi
3310 Cochran Dr Unit D Colorado Springs, CO	2.0	1.0	850	$1,249	$1.47	23d	1	1.08mi
1785 Zebulon Dr Unit D Colorado Springs, CO	2.0	1.0	700	$1,125	$1.61	14d	1	1.08mi
1334 Firefly Cir Colorado Springs, CO	2.0	2.5	1300	$1,700	$1.31	14d	1	1.12mi
3445 Cochran Dr Unit B Colorado Springs, CO	2.0	1.0	884	$1,400	$1.58	23d	1	1.13mi
3459 Springnite Dr Colorado Springs, CO	3.0	2.0	1351	$1,700	$1.26	23d	1	1.14mi
1432 Sandalwood Dr Colorado Springs, CO	1.0–2.0	1.0–2.0	742	$1,356	$1.83	2d	24	1.14mi
3475 Cochran Dr Colorado Springs, CO	2.0	1.0	884	$1,250	$1.41	21d	1	1.15mi
3480 Cochran Dr Colorado Springs, CO	2.0	1.0	884	$995	$1.13	21d	1	1.15mi
1210 Firefly Cir Colorado Springs, CO	2.0	1.0	940	$1,143	$1.22	23d	1	1.15mi
3448 Kingfisher Nest Grv Colorado Springs, CO	2.0	2.5	1216	$1,600	$1.32	23d	1	1.18mi
3885 Lakehurst Dr Colorado Springs, CO	1.0–2.0	1.0	578	$1,253	$2.17	2d	10	1.20mi
3815 Lakehurst Dr Colorado Springs, CO	2.0	1.0	700	$1,241	$1.77	23d	1	1.21mi

HOA detail condo

• Monthly dues: $360 · $4,320/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-13
   price $150,000
2. 2026-04-21
   status Active
3. 2026-04-11
   status Pending
4. 2026-03-26
   price $170,000
5. 2025-10-24
   listed $185,000 Active
6. 2008-07-31
   soldstatus $67,000
7. 2007-03-02
   soldstatus $75,418
8. 2003-01-29
   soldstatus $79,900
9. 1998-12-04
   soldstatus $59,900
10. 1990-03-20
    soldstatus $78,000

ⓘ 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: $553 · $46/mo
• Projected year-2 tax: $825 · $69/mo
• Expected delta: +$272/yr (+$23/mo · 49.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥90°F today · 17 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: $18,481
• − Mortgage interest: −$8,402
• − Property taxes: −$553
• − Insurance: −$750
• − Repairs & maintenance: −$1,478
• − Management: −$1,478
• − HOA: −$4,320
• − Depreciation: −$4,364
• Taxable loss: −$2,864
• Est. tax savings @ 24.0%: +$687
• After-tax cash flow: $226/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: Harrison School District No. 2 In The County Of El Paso An
• NCES district ID: 0804530
• Math proficiency: 16% ▼ -13.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $40,242
• Composite: 21.47/100
• National rank: #8333
• State rank: #67 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): 41,104
• Household income: $67,127
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 2041.0

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 0.70)
• Race & ethnicity: Hispanic / Latino 38% White 37% Two or more races 18% Black 15% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 28% Puerto Rican 2%
• Common ancestry: Lithuanian 1% Romanian 1% Slovak 1%
• Foreign-born: 13% · Canada, South Korea
• Languages at home: 73% English-only · Spanish 22% French/Haitian/Cajun 1% 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: ▼ -114.77%
• Current HPI: 301.5415
• Rent YoY: ▲ 2.36%
• 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

+92.3% since first listed

10 events — show timeline

• 2026-05-13 Price Changed $150,000 elevateMLS
• 2026-04-21 Relisted — elevateMLS
• 2026-04-11 Pending — elevateMLS
• 2026-03-26 Price Changed $170,000 elevateMLS
• 2025-10-24 Listed $185,000 elevateMLS
• 2008-07-31 Sold (Public Records) $67,000 Public Records
• 2007-03-02 Sold (Public Records) $75,418 Public Records
• 2003-01-29 Sold (Public Records) $79,900 Public Records
• 1998-12-04 Sold (Public Records) $59,900 Public Records
• 1990-03-20 Sold (Public Records) $78,000 Public Records

Property tax history

+3.5%/yr

Latest (2024): $553 · +48.1% YoY. Source: county tax records.