9276 Glitter Way

Colorado Springs, CO 80924

$549,000F

5 bd · 4.0 ba · 3,814 sqft · Built 2023 · SingleFamily · Pending · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,312/mo
• Mortgage (P&I): −$2,879
• Tax + insurance: −$736
• HOA: −$268
• Vac / Maint / Mgmt: −$695
• Net cashflow: $-1,267/mo
• Annual: $-15,206/yr
• Cap rate: 3.52%
• Cash-on-cash: -9.89%
• DSCR: 0.56
• 1% rule: 0.60%
• Cash to close: $153,720

Investor read

• This is a 5-bed/4.0-bath single-family listed at $549k.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $325k (40.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $331k (39.7% below list).
• It's been on market 56 days — a 3% lower offer ($533k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $325k (40.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-1.8%/yr); year-one equity from $4k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Chinook Trail Elementary School (math 62% / reading 82%, grade A-, #26 of 966 statewide, top 4%, 631 students, 8% FRL); Eagleview Middle School (math 42% / reading 59%, grade C, #38 of 270 statewide, top 14%, 948 students, 14% FRL); Pine Creek High School (math 53% / reading 77%, grade B, #31 of 381 statewide, top 8%, 1,815 students, 0% FRL) — zoned schools at 7% FRL track the district average.
• Market conditions: Rents soft (-0.8%/yr); 407 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,906 units permitted in El Paso County in 2024 (872 in 5+ unit buildings).
• El Paso County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $100k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?