2369 Lexington Village Ln · Colorado Springs, CO 80916

$173,000

3 bd · 3.0 ba · 1,520 sqft · Condo public records · 19 Days on market

Built 1984 $315/mo HOA · 15% of rent

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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 +21.9/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +7.0/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious townhome-condo with an attached 1-car garage. The main level offers a living room with a cozy fireplace, ceiling fan, and sliding glass door that opens to a private fenced patio. The kitchen includes ample cabinetry, black appliances, tile countertops, and a breakfast bar. The interior features i wood-style flooring on the main level. Convenient main-level half bath and dedicated storage areas. The home does have a bathroom on each level. All bedroom are ample size. Close proximity to Ft Carson, shopping, dining, and major commuter routes.

Key facts

• Black appliances
• Private fenced patio
• Attached garage

Tags

• ATTACHED GARAGE
• PRIVATE FENCED PATIO
• BLACK APPLIANCES
• TILE COUNTERTOPS
• BREAKFAST BAR
• WOOD-STYLE FLOORING

Property features AI

Finance

• Financial info: Financing accepted: Cash, Conventional, FHA, VA, VA Vendee
• HOA & community: HOA with monthly fee of $315 covering water, trash removal, covenant enforcement and common utilities

Exterior

• Parking: Attached 1-car garage (garage at main level)
• Utilities: Municipal water; Cable available; Electricity available; Telephone available
• Home design: Condominium, inside unit
• Construction: Wood frame structure; Wood siding; Composite shingle roof; Full basement
• Exterior features: Concrete patio; Level lot

Interior

• Kitchen: Dishwasher; Disposal; Range oven (gas/electric); Refrigerator
• Bedrooms: Primary bedroom on the upper level
• Flooring: Carpet; Wood; Wood laminate; Vinyl/linoleum in entry
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main-level fireplace; 220v outlet in kitchen; Kitchen vent fan; Full basement (98% finished); Main floor bedroom
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $173k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $173k).
• Recommended offer: $170k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• 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 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 37% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $5k 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 19 days — a 2% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 7 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,405 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.72%
• DSCR: 1.30
• GRM: 7.0

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-11,957
• Equity at exit: $25,795

10-year hold

• IRR: 2.1%
• Equity multiple: 1.14×
• Total profit: $7,002
• Equity at exit: $14,958

Cash invested: $48,440 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,070 high
• Mortgage (P&I): −$907
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$72
• HOA: −$315
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $271

Break-even live

Break-even rent $1,727

Max offer price $173,000

Occupancy floor 82%

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: $43,250
• Closing costs: $5,190
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4575 Monica Dr Colorado Springs, CO	4.0	2.0	1750	$2,095	$1.20	2d	1	0.36mi
2320 Bruno Cir Colorado Springs, CO	4.0	2.0	1311	$2,229	$1.70	21d	1	0.41mi
4115 Morley Dr Colorado Springs, CO	4.0	2.0	1739	$2,095	$1.20	23d	1	0.53mi
1960 S Chelton Rd Colorado Springs, CO	3.0	1.0–2.0	810	$1,385	$1.71	23d	1	0.55mi
2702 Dickens Dr Colorado Springs, CO	3.0	2.0	1300	$2,093	$1.61	14d	1	0.55mi
4960 Fountain Ford Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	973	$2,311	$2.38	2d	28	0.69mi
4325 Fountain Springs Grv Colorado Springs, CO	1.0–3.0	1.0–2.0	920	$1,658	$1.80	2d	5	0.70mi
4027 Charleston Dr Colorado Springs, CO	3.0	2.0	1232	$2,000	$1.62	14d	1	0.72mi
4221 Baytown Dr Unit 4221 Colorado Springs, CO	2.0	2.0	1067	$1,650	$1.55	21d	1	0.75mi
4062 Baytown Dr Colorado Springs, CO	2.0	2.0	1232	$1,795	$1.46	23d	1	0.76mi
4919 Rusty Nail Pt Colorado Springs, CO	3.0	1.5	1237	$1,900	$1.54	2d	1	0.80mi
1810 Kaleidos Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	1023	$2,200	$2.15	2d	6	0.83mi
3127 Moonbeam Cir S Colorado Springs, CO	3.0	2.0	1482	$2,099	$1.42	2d	1	0.85mi
3063 Harpy Grv Colorado Springs, CO	3.0	2.5	1561	$1,950	$1.25	2d	1	0.86mi
2129 Delta Dr Colorado Springs, CO	2.0–3.0	1.0–1.5	960	$1,625	$1.69	23d	4	0.87mi
4814 Hawk Meadow Dr Colorado Springs, CO	3.0	2.5	1579	$2,295	$1.45	23d	1	0.87mi
3098 Shikra Vw Colorado Springs, CO	3.0	2.5	1561	$2,195	$1.41	14d	1	0.87mi
4710 Spacewalk Way Colorado Springs, CO	2.0	2.0	1068	$2,049	$1.92	2d	1	0.93mi
4287 Deerfield Hills Dr Colorado Springs, CO	3.0	1.5	1138	$2,150	$1.89	2d	1	0.96mi
4710 Jet Wing Cir W Colorado Springs, CO	3.0	3.0	1700	$2,099	$1.23	23d	1	0.98mi
4535 Jet Wing Cir W Colorado Springs, CO	3.0	2.0	1806	$2,449	$1.36	2d	1	1.00mi
5150 Selby Ranch Pt Colorado Springs, CO	3.0–4.0	2.5–3.5	1626	$2,365	$1.45	2d	93	1.03mi
1334 Firefly Cir Colorado Springs, CO	2.0	2.5	1300	$1,700	$1.31	14d	1	1.04mi
1342 Firefly Cir Colorado Springs, CO	3.0	1.5	1560	$1,600	$1.03	2d	1	1.05mi
4815 Tory Ridge Dr Colorado Springs, CO	3.0	2.5	1415	$2,850	$2.01	2d	1	1.08mi
4287 Deerfield Hills Rd Colorado Springs, CO	3.0	1.5	1138	$2,150	$1.89	2d	1	1.09mi
1609 Zebulon Dr Colorado Springs, CO	2.0–3.0	2.0	1029	$1,744	$1.69	14d	7	1.13mi
2311 Sonoma Dr Colorado Springs, CO	4.0	2.0	1836	$2,280	$1.24	21d	1	1.14mi
1540 Sparton Grv Unit 102 Colorado Springs, CO	3.0	3.0	1552	$2,195	$1.41	2d	1	1.16mi
3459 Springnite Dr Colorado Springs, CO	3.0	2.0	1351	$1,700	$1.26	23d	1	1.19mi
1518 Tyram Grv Unit 102 Colorado Springs, CO	3.0	3.0	1552	$2,195	$1.41	2d	1	1.21mi
3965 Colony Hills Cir Colorado Springs, CO	4.0	2.0	1616	$2,250	$1.39	2d	1	1.21mi
4096 Colony Hills Cir Colorado Springs, CO	3.0	2.0	1607	$2,093	$1.30	2d	1	1.25mi
1071 Cana Grv Colorado Springs, CO	3.0	2.5	1932	$2,295	$1.19	23d	1	1.25mi
2458 Sonoma Dr Colorado Springs, CO	3.0	2.0	1686	$2,200	$1.30	23d	1	1.25mi
1340 Inverness Dr Colorado Springs, CO	1.0–3.0	1.0–2.0	936	$2,026	$2.16	2d	17	1.25mi
2404 Monterey Rd Colorado Springs, CO	3.0	2.0	1862	$2,500	$1.34	2d	1	1.26mi
3448 Kingfisher Nest Grv Colorado Springs, CO	2.0	2.5	1216	$1,600	$1.32	23d	1	1.26mi
4275 Sanders Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	932	$3,006	$3.23	2d	27	1.26mi
1046 Nolte Dr W Colorado Springs, CO	3.0	2.0	1450	$2,149	$1.48	2d	1	1.30mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $173,000 Active 19 DOM
2. 2026-06-17
   days on market $173,000 Active 18 DOM
3. 2026-06-16
   days on market $173,000 Active 17 DOM
4. 2026-06-15
   days on market $173,000 Active 16 DOM
5. 2026-06-14
   days on market $173,000 Active 14 DOM
6. 2026-06-13
   days on market $173,000 Active 13 DOM
7. 2026-06-10
   days on market $173,000 Active 11 DOM
8. 2026-06-09
   days on market $173,000 Active 10 DOM
9. 2026-06-08
   days on market $173,000 Active 9 DOM
10. 2026-06-07
    days on market $173,000 Active 8 DOM
11. 2026-06-05
    days on market $173,000 Active 5 DOM
12. 2026-06-03
    days on market $173,000 Active 4 DOM
13. 2026-06-03
    days on market $173,000 Active 3 DOM
14. 2026-06-01
    days on market $173,000 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: $841 · $70/mo
• Projected year-2 tax: $952 · $79/mo
• Expected delta: +$110/yr (+$9/mo · 13.1%)

ⓘ 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 · 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: $24,843
• − Mortgage interest: −$9,691
• − Property taxes: −$841
• − Insurance: −$865
• − Repairs & maintenance: −$1,987
• − Management: −$1,987
• − HOA: −$3,780
• − Depreciation: −$5,033
• Taxable income: $659
• Est. tax owed @ 24.0%: −$158
• After-tax cash flow: $3,095/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

+546.7% since first listed

23 events — show timeline

• 2026-05-30 Listed $173,000 elevateMLS
• 2026-02-24 Listing Removed — REColorado as Distributed by MLS Grid
• 2026-02-01 Price Changed $238,000 IRES
• 2026-02-01 Price Changed $238,000 REColorado as Distributed by MLS Grid
• 2026-01-31 Relisted — IRES
• 2026-01-31 Relisted — REColorado as Distributed by MLS Grid
• 2026-01-31 Price Changed $238,000 elevateMLS
• 2026-01-08 Pending — IRES
• 2026-01-08 Pending — REColorado as Distributed by MLS Grid
• 2026-01-07 Listing Removed — IRES
• 2026-01-01 Relisted — IRES
• 2026-01-01 Relisted — REColorado as Distributed by MLS Grid
• 2025-12-30 Pending — IRES
• 2025-12-30 Pending — REColorado as Distributed by MLS Grid
• 2025-12-21 Listed $220,000 IRES
• 2025-12-21 Listed $220,000 REColorado as Distributed by MLS Grid
• 2018-08-01 Sold (Public Records) $180,000 Public Records
• 2003-01-08 Sold (Public Records) $98,600 Public Records
• 2000-11-09 Sold (Public Records) $83,800 Public Records
• 1996-10-01 Sold (Public Records) $72,000 Public Records
• 1994-12-05 Sold (Public Records) $61,900 Public Records
• 1991-06-24 Sold (Public Records) $31,000 Public Records
• 1990-06-11 Sold (Public Records) $26,750 Public Records

Property tax history

+4.1%/yr

Latest (2024): $841 · +35.2% YoY. Source: county tax records.