Farm 3 Flex Plan · Cimarron Hills, CO 80915

$172,000

3 bd · 2.0 ba · 1,580 sqft · Manufactured · 74 Days on market

Good condition

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Why this score? — see what drove the B- 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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover the perfect home for your modern lifestyle with the Farm 3 Flex. This adaptable 3-bedroom, 2-bathroom home features a flexible space that can be transformed into a home office, playroom, or extra bedroom to suit your family's needs. Our popular split floor plan offers privacy and functionality, while the eye-catching curb appeal makes a lasting impression. Inside, enjoy the comfort and style of tape and textured walls, creating a finished look. Built with Clayton's eco-friendly eBuilt system, the Farm 3 Flex incorporates over 25 sustainable features without compromising on quality or comfort.

Key facts

• Listed 74 days

Property features AI

Finance

• Other: Address marketed as Farm 3 Flex Plan, Colorado Springs, CO 80915; Listing status: Active
• Financial info: List price $172,000

Exterior

• Home design: Plan name: Farm 3 Flex; New construction plan
• Construction: Constructed as part of 2026 plan
• Exterior features: Living area approximately 1,580 (plan)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Open living area (plan); Plan released in 2026

🏗️ 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 3-bed/2.0-bath manufactured listed at $172k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $571 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $162k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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.
• Zoned schools: Henry Elementary School (math 15% / reading 27%, grade F, #673 of 966 statewide, top 71%, 358 students, 66% 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 72% FRL vs 49% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 28% district-wide (-14 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.
• Market conditions: Rents rising (+1.6%/yr); 150 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 38% 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 $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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($162k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $161,680 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 10.74%
• Cash-on-cash: 15.89%
• DSCR: 1.71
• GRM: 6.2

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: 2.9%
• Equity multiple: 1.11×
• Total profit: $5,359
• Equity at exit: $25,646

10-year hold

• IRR: 11.1%
• Equity multiple: 1.81×
• Total profit: $38,930
• Equity at exit: $14,871

Cash invested: $48,160 (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: 150
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,312 high
• Mortgage (P&I): −$902
• Tax est. 1.5%: −$215 /mo · $2,580/yr
• Insurance: −$72
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $571

Break-even live

Break-even rent $1,589

Max offer price $172,000

Occupancy floor 70%

Sensitivity live

Price	-10% $690	-5% $631	+0% $571	+5% $512	+10% $452
Rent	-10% $389	-5% $480	+0% $571	+5% $663	+10% $754
Rate	-1.0pp $658	-0.5pp $615	base $571	+0.5pp $527	+1.0pp $481

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: $43,000
• Closing costs: $5,160
• Reserves months: —
• Total cash needed: —

Rent comps 17 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	4d	17	0.50mi
6944 Palmer Park Blvd Colorado Springs, CO	3.0	2.5	1280	$1,950	$1.52	4d	1	0.65mi
1885 Sandtoft Hts Colorado Springs, CO	3.0	2.5	2080	$2,200	$1.06	23d	1	0.82mi
2284 Reed Grass Way Colorado Springs, CO	3.0	2.5	1853	$2,500	$1.35	5d	1	0.92mi
8120 Postrock Dr Colorado Springs, CO	3.0	2.0	1215	$2,200	$1.81	4d	1	1.12mi
2434 Vanhoutte Vw Colorado Springs, CO	3.0	2.5	1438	$2,800	$1.95	4d	1	1.18mi
7230 Constitution Square Hts Colorado Springs, CO	1.0–3.0	1.0–2.0	992	$1,700	$1.71	4d	12	1.22mi
1020 Solace Pond Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	1158	$2,632	$2.27	4d	12	1.23mi
1888 Reilly Grv Colorado Springs, CO	2.0	2.5	1396	$2,150	$1.54	12d	1	1.24mi
7640 Norice GRV Colorado Springs, CO	1.0–3.0	1.0–2.0	1051	$2,395	$2.28	4d	11	1.29mi
7333 Rosa Belle Hts Colorado Springs, CO	2.0	2.0	1302	$2,100	$1.61	23d	1	1.30mi
7263 Hunter Jumper Dr Colorado Springs, CO	3.0	3.5	2116	$3,500	$1.65	12d	1	1.32mi
7359 Hunter Jumper Dr Colorado Springs, CO	3.0	3.5	2116	$2,600	$1.23	4d	1	1.33mi
6639 Rio Bravo Grv Colorado Springs, CO	2.0	2.5	1764	$2,043	$1.16	4d	1	1.37mi
2645 Akers Dr Colorado Springs, CO	1.0–3.0	1.0–2.0	1035	$2,349	$2.27	4d	14	1.43mi
6364 Zermatt Dr Colorado Springs, CO	3.0	2.0	1529	$1,980	$1.29	4d	1	1.46mi
2052 Springside Dr Colorado Springs, CO	4.0	2.5	1464	$2,349	$1.60	23d	1	1.48mi

Listing history 15 events

1. 2026-06-22
   days on market $172,000 Active 74 DOM
2. 2026-06-18
   days on market $172,000 Active 71 DOM
3. 2026-06-17
   days on market $172,000 Active 70 DOM
4. 2026-06-16
   days on market $172,000 Active 69 DOM
5. 2026-06-15
   days on market $172,000 Active 68 DOM
6. 2026-06-14
   days on market $172,000 Active 66 DOM
7. 2026-06-10
   days on market $172,000 Active 63 DOM
8. 2026-06-09
   days on market $172,000 Active 62 DOM
9. 2026-06-08
   days on market $172,000 Active 61 DOM
10. 2026-06-07
    days on market $172,000 Active 60 DOM
11. 2026-06-05
    days on market $172,000 Active 57 DOM
12. 2026-06-03
    days on market $172,000 Active 56 DOM
13. 2026-06-03
    days on market $172,000 Active 55 DOM
14. 2026-06-01
    days on market $172,000 Active 54 DOM
15. 2026-05-31
    days on market $172,000 Active 53 DOM

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 6 d/yr ≥89°F today · 16 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: $27,744
• − Mortgage interest: −$9,635
• − Property taxes: −$2,580
• − Insurance: −$1,658
• − Repairs & maintenance: −$2,220
• − Management: −$2,220
• − Depreciation: −$5,004
• Taxable income: $4,429
• Est. tax owed @ 24.0%: −$1,063
• After-tax cash flow: $5,793/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 · 10 photos

Good 80/100 None rehab

This modern, well-maintained home with a good condition score and no visible repairs needed is ready for immediate occupancy and can be easily enhanced with minor updates to boost its value.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value.
• Both Landscaping improvements — Enhanced landscaping can attract more potential buyers or renters.
• Both Add smart home features — Modern technology can increase both resale and rental value.
• Both Install smart thermostat — Energy-efficient systems can lower utility costs and attract eco-conscious buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — Enhanced landscaping can attract more potential buyers or renters. ↑
• Both Add smart home features — Modern technology can increase both resale and rental value. ↑
• Both Install smart thermostat — Energy-efficient systems can lower utility costs and attract eco-conscious buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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