3000 N Cascade Ave · Colorado Springs, CO 80907

$45,000

2 bd · 1.0 ba · 594 sqft · Land public records · 93 Days on market

Built 1969 $630/mo HOA · 52% 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 +14.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 2 parking spots
• Built 1969
• Listed 93 days

Property features AI

Finance

• Other: Lot number 16
• Financial info: Land lease in place with monthly fee of $630; lease expiration March 17, 2026; Owned by corporation/trust
• HOA & community: Evergreen Park association, professionally managed; Monthly lot/association fee of $630 (annual $7,560); Senior community

Exterior

• Parking: Two parking spaces; Two carport spaces
• Utilities: Public sewer; Public water
• Home design: Manufactured in-park mobile home; Located in Evergreen park; Entry level: Main
• Construction: Other roof type; 60 ft by 10 ft mobile home
• Exterior features: Covered patio/porch; Deck; Paved road access; Public water

Interior

• Bedrooms: Two bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating
• Interior features: Carpet and laminate flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $45k.

Deal economics

• At list price, monthly cash flow is $-53 ($-641/yr) — negative.
• To cash-flow at today's rent, offer at most $37k (17.2% below list).
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $37k (17.2% below list) — sets the bar for cash-flow.
• Cap rate 6.6% 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.
• 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: Jackson Elementary School (math 15% / reading 27%, grade F, #673 of 966 statewide, top 71%, 342 students, 82% FRL); North Middle School (math 21% / reading 42%, grade F, #121 of 270 statewide, top 46%, 590 students, 63% FRL); Coronado High School (math 32% / reading 58%, grade D-, #139 of 381 statewide, top 36%, 1,305 students, 45% FRL).
• Market conditions: Rents flat; 192 active listings in the ZIP; 37 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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 93 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago 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

• Watch-outs: flood insurance adds $66/mo; HOA is 52% of rent.
• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,266 (17.2% 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 93 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 2.68% ✓
• Cap rate: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.06
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.11% rent growth · sell at horizon

5-year hold

• IRR: -36.9%
• Equity multiple: -0.08×
• Total profit: $-13,663
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: -1.20×
• Total profit: $-27,686
• Equity at exit: $3,891

Cash invested: $12,600 (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 80907

• Rents YoY: 0.1%
• Active inventory: 192
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,208 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$630
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-53

Break-even live

Break-even rent $1,275

Max offer price $37,266

Occupancy floor 99%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
80 W Taylor St Colorado Springs, CO	1.0	1.0	535	$750	$1.40	3d	3	0.15mi
2912 Concord St Colorado Springs, CO	1.0	1.0	525	$795	$1.51	23d	1	0.16mi
2925 Tremont St Colorado Springs, CO	1.0–2.0	1.0	682	$915	$1.34	3d	8	0.29mi
2613 Concord St Apt 104 Colorado Springs, CO	2.0	1.0	725	$1,149	$1.58	3d	1	0.38mi
2602 N Cascade Ave Unit 2602-102 Colorado Springs, CO	1.0	1.0	691	$1,495	$2.16	23d	1	0.40mi
39 Sunflower Rd Unit B 58766927680 Colorado Springs, CO	1.0	1.0	544	$1,250	$2.30	14d	1	0.41mi
2602 N Cascade Ave Unit 2515-102 Colorado Springs, CO	1.0	1.0	691	$1,495	$2.16	3d	1	0.42mi
6715 N Century St Colorado Springs, CO	1.0–3.0	1.0–2.0	1043	$2,105	$2.02	2d	26	0.46mi
3125 Sinton Rd Colorado Springs, CO	2.0	1.0	660	$1,402	$2.12	3d	6	0.58mi
2414 Tremont St Colorado Springs, CO	1.0–2.0	1.0	806	$1,580	$1.96	3d	5	0.62mi
2924 N Arcadia St Colorado Springs, CO	1.0–2.0	1.0	775	$1,099	$1.42	23d	4	0.71mi
3341 El Paso Pl Colorado Springs, CO	1.0	1.0	495	$899	$1.82	3d	1	0.74mi
3210 N Chestnut St Colorado Springs, CO	2.0	1.0	597	$1,233	$2.06	3d	8	0.79mi
3850 Schafer Hts Colorado Springs, CO	1.0–2.0	1.0–2.0	752	$1,524	$2.03	3d	5	0.81mi
917 2nd St Colorado Springs, CO	1.0	1.0	432	$875	$2.03	23d	1	0.81mi
2909 Sage St Colorado Springs, CO	2.0	1.0	689	$768	$1.11	21d	1	0.82mi
2910 Sage St Colorado Springs, CO	1.0	1.0	415	$960	$2.31	3d	9	0.88mi
670 W Van Buren St #4 Colorado Springs, CO	1.0	1.0	446	$850	$1.91	23d	1	0.89mi
2922 Straus Ln Colorado Springs, CO	2.0	1.0	750	$1,150	$1.53	3d	1	0.92mi
3113 Illinois Ave Colorado Springs, CO	1.0	1.0	600	$964	$1.61	3d	1	1.01mi
3113 Illinois Ave Unit 4 Colorado Springs, CO	1.0	1.0	600	$814	$1.36	23d	1	1.01mi
921 Westmoreland Rd Colorado Springs, CO	1.0–2.0	1.0	750	$1,234	$1.65	3d	12	1.05mi
3224 Illinois Ave Colorado Springs, CO	2.0	1.0	600	$1,249	$2.08	23d	1	1.07mi
325 Cragmor Rd Colorado Springs, CO	2.0	1.0	537	$899	$1.67	3d	2	1.11mi
1038 Westmoreland Rd Unit A Colorado Springs, CO	2.0	1.0	700	$875	$1.25	14d	1	1.11mi
1134 Westmoreland Rd Colorado Springs, CO	1.0–2.0	1.0	675	$1,050	$1.56	3d	2	1.15mi
4311 N Chestnut St Unit 2 Colorado Springs, CO	1.0	1.0	700	$925	$1.32	23d	1	1.20mi
1919 N Chestnut St Unit B Colorado Springs, CO	1.0	1.0	650	$875	$1.35	23d	1	1.23mi
2485 Bravery Hts Colorado Springs, CO	1.0–3.0	1.0–2.0	1032	$2,116	$2.05	2d	18	1.24mi
4331 N Chestnut St Colorado Springs, CO	1.0	1.0	516	$928	$1.80	3d	5	1.28mi
3370 Bryson Hts Colorado Springs, CO	1.0–3.0	1.0–2.0	980	$1,892	$1.93	2d	21	1.28mi
975 Pettit Lake Hts Colorado Springs, CO	3.0	1.0–2.0	846	$1,912	$2.26	2d	28	1.31mi
4348 N Chestnut St Colorado Springs, CO	1.0	1.0	525	$1,018	$1.94	3d	6	1.35mi
3630 Rialto Hts Colorado Springs, CO	1.0–3.0	1.0–2.0	959	$1,588	$1.66	2d	13	1.37mi
612 E Del Norte St Colorado Springs, CO	2.0	1.0	748	$1,600	$2.14	23d	1	1.37mi
4357 N Chestnut St Colorado Springs, CO	1.0	1.0	550	$880	$1.60	21d	1	1.40mi
1516 N Cascade Ave Colorado Springs, CO	1.0	1.0	570	$1,250	$2.19	23d	1	1.41mi

HOA detail

• Monthly dues: $630 · $7,560/yr

Listing history 25 events

1. 2026-06-18
   days on market $45,000 Active 93 DOM
2. 2026-06-17
   days on market $45,000 Active 92 DOM
3. 2026-06-16
   days on market $45,000 Active 91 DOM
4. 2026-06-15
   days on market $45,000 Active 90 DOM
5. 2026-06-14
   days on market $45,000 Active 88 DOM
6. 2026-06-10
   days on market $45,000 Active 85 DOM
7. 2026-06-09
   days on market $45,000 Active 84 DOM
8. 2026-06-08
   days on market $45,000 Active 83 DOM
9. 2026-06-07
   days on market $45,000 Active 82 DOM
10. 2026-06-05
    days on market $45,000 Active 79 DOM
11. 2026-06-03
    days on market $45,000 Active 78 DOM
12. 2026-06-03
    days on market $45,000 Active 77 DOM
13. 2026-06-01
    days on market $45,000 Active 76 DOM
14. 2026-05-31
    days on market $45,000 Active 75 DOM
15. 2026-03-17
    listed $45,000 Active
16. 2025-06-30
    historical
17. 2025-04-21
    price $85,000
18. 2025-03-25
    status Active
19. 2025-03-10
    historical
20. 2025-01-17
    listed $95,000 Active
21. 2024-11-01
    historical
22. 2024-08-24
    listed $130,000 Active
23. 2003-02-12
    soldstatus $1,050,000
24. 2001-04-03
    soldstatus $910,000
25. 1996-01-18
    soldstatus $5,000

ⓘ 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 · 76% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 6 d/yr ≥89°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,491
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$1,022
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − HOA: −$7,560
• − Depreciation: −$1,309
• Taxable loss: −$915
• Est. tax savings @ 24.0%: +$220
• After-tax cash flow: $-422/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 — 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): 27,815
• Household income: $74,402
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1396.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 10% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 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: ▼ -544.07%
• Current HPI: 276.2139
• Rent YoY: ▲ 0.11%
• 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

+800.0% since first listed

11 events — show timeline

• 2026-03-17 Listed $45,000 REColorado as Distributed by MLS Grid
• 2025-06-30 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-04-21 Price Changed $85,000 REColorado as Distributed by MLS Grid
• 2025-03-25 Relisted — REColorado as Distributed by MLS Grid
• 2025-03-10 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-01-17 Listed $95,000 REColorado as Distributed by MLS Grid
• 2024-11-01 Listing Removed — REColorado as Distributed by MLS Grid
• 2024-08-24 Listed $130,000 REColorado as Distributed by MLS Grid
• 2003-02-12 Sold (Public Records) $1,050,000 Public Records
• 2001-04-03 Sold (Public Records) $910,000 Public Records
• 1996-01-18 Sold (Public Records) $5,000 Public Records

Property tax history

+10.7%/yr

Latest (2024): $3,353 · +1.0% YoY. Source: county tax records.