2760 Julep Dr · Colorado Springs, CO 80916

$82,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured · 120 Days on market

Built 2017 871 sqft lot Est $104k · 21% under ↓ 9% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to the well-maintained mobile home featuring a functional layout with two bedrooms and two bathrooms. The home offers an inviting open floor plan and has been meticulously cared for. The interior design prioritizes convenience, including a spacious in suite complete large attached bathroom and a walk-in closet, an eat-in kitchen with all appliances included, tons of cabinet and counter space. The second bedroom is located on the other end of the home, with a closet and the second bathroom just next to it, the property provides an excellent outdoor area perfect for entertaining as this home offers a private fenced yard perfect for backyard barbecues, playing with pets, or simply rela

Key facts

• Open floor plan
• Move-in-ready home
• In suite bathroom

Tags

• OPEN FLOOR PLAN
• IN SUITE BATHROOM
• WALK-IN CLOSET
• EAT-IN KITCHEN
• PRIVATE FENCED YARD
• MOVE-IN-READY HOME

Property features AI

Finance

• Other: Lot pad count: 1; Lot size approximately 0.02 acres
• HOA & community: Has association; professionally managed; no association fee listed; Located in Canterbury Park (land lease community); Monthly land lease of $823 through 12/31/2026

Exterior

• Parking: 2 off-street parking spaces on asphalt
• Utilities: Public water; Public sewer; Electricity available; Cable available; Wired internet available
• Home design: Manufactured home located in a park; Faces east; Individual ownership; Model: 19-CS1 672C
• Construction: Vinyl siding; Shingle roof; Vinyl skirting; Manufacture dimensions approximately 72' x 16'
• Exterior features: Full fencing; Grassed lot; Paved, privately maintained road; Outdoor pool (community)

Interior

• Kitchen: Dishwasher; Microwave; Oven/Range; Refrigerator; Range hood
• Bedrooms: 2 bedrooms on the main level (primary bedroom; secondary bedroom with primary suite features)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms on the main level (one with en suite)
• Heating & cooling: Natural gas heating; Room air conditioning
• Interior features: Double-pane windows; Disposal; Range hood
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $82k.

Deal economics

• At list price, monthly cash flow is $824 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $75k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.4% 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; 34 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 31% 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 $567 of loan paydown is wiped out by about $2k 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 + 2.4% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $13k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $74,620 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.15% ✓
• Cap rate: 18.35%
• Cash-on-cash: 43.07%
• DSCR: 2.92
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $103,680
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5242 Derby Dr	0.28mi	3/2.0 (+1)	1,216 (+6%)	2mo	$34,000	$28	71
2612 Swale Run	0.21mi	3/2.0 (+1)	1,250 (+8%)	2mo	$100,000	$80	69
5136 Derby Dr	0.23mi	3/2.0 (+1)	1,152 (0%)	22mo	$104,000	$90	66
2561 Mason Way	0.21mi	3/2.0 (+1)	1,216 (+6%)	23mo	$130,000	$107	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 39.2%
• Equity multiple: 2.66×
• Total profit: $38,100
• Equity at exit: $12,226

10-year hold

• IRR: 45.3%
• Equity multiple: 5.19×
• Total profit: $96,308
• Equity at exit: $7,090

Cash invested: $22,960 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,760 high
• Mortgage (P&I): −$430
• Tax est. 1.5%: −$102 /mo · $1,230/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $824

Break-even live

Break-even rent $717

Max offer price $82,000

Occupancy floor 48%

Sensitivity live

Price	-10% $881	-5% $852	+0% $824	+5% $796	+10% $767
Rent	-10% $685	-5% $755	+0% $824	+5% $894	+10% $963
Rate	-1.0pp $865	-0.5pp $845	base $824	+0.5pp $803	+1.0pp $781

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2702 Dickens Dr Colorado Springs, CO	3.0	2.0	1300	$2,093	$1.61	15d	1	0.17mi
4919 Rusty Nail Pt Colorado Springs, CO	3.0	1.5	1237	$1,900	$1.54	3d	1	0.21mi
5150 Selby Ranch Pt Colorado Springs, CO	3.0–4.0	2.5–3.5	1626	$2,365	$1.45	3d	93	0.31mi
4815 Tory Ridge Dr Colorado Springs, CO	3.0	2.5	1415	$2,850	$2.01	3d	1	0.55mi
2521 Astrozon Cir Unit 2525 Colorado Springs, CO	2.0	1.0	800	$1,395	$1.74	15d	1	0.61mi
2521 Astrozon Cir Unit 2523 Colorado Springs, CO	2.0	1.0	800	$1,395	$1.74	3d	1	0.61mi
4537 Lamplighter Cir Colorado Springs, CO	2.0	1.5	1028	$1,195	$1.16	3d	1	0.64mi
3448 Kingfisher Nest Grv Colorado Springs, CO	2.0	2.5	1216	$1,600	$1.32	24d	1	0.70mi
3127 Moonbeam Cir S Colorado Springs, CO	3.0	2.0	1482	$2,099	$1.42	3d	1	0.85mi
4027 Charleston Dr Colorado Springs, CO	3.0	2.0	1232	$2,000	$1.62	15d	1	0.88mi
4221 Baytown Dr Unit 4221 Colorado Springs, CO	2.0	2.0	1067	$1,650	$1.55	21d	1	0.98mi
3178 Starlight Cir Colorado Springs, CO	2.0	1.5	928	$1,550	$1.67	24d	1	0.98mi
4287 Deerfield Hills Rd Colorado Springs, CO	3.0	1.5	1138	$2,150	$1.89	3d	1	0.99mi
3310 Cochran Dr Unit D Colorado Springs, CO	2.0	1.0	850	$1,249	$1.47	24d	1	1.02mi
4062 Baytown Dr Colorado Springs, CO	2.0	2.0	1232	$1,795	$1.46	24d	1	1.04mi
3445 Cochran Dr Unit B Colorado Springs, CO	2.0	1.0	884	$1,400	$1.58	24d	1	1.04mi
4287 Deerfield Hills Dr Colorado Springs, CO	3.0	1.5	1138	$2,150	$1.89	3d	1	1.05mi
3475 Cochran Dr Colorado Springs, CO	2.0	1.0	884	$1,250	$1.41	21d	1	1.05mi
4960 Fountain Ford Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	973	$1,872	$1.92	3d	28	1.05mi
3066 Starlight Cir Colorado Springs, CO	2.0	1.5	928	$1,300	$1.40	3d	1	1.05mi
3080 Starlight Cir Colorado Springs, CO	2.0	2.0	928	$1,650	$1.78	24d	1	1.06mi
3480 Cochran Dr Colorado Springs, CO	2.0	1.0	884	$995	$1.13	21d	1	1.07mi
1737 Ramjet PT Colorado Springs, CO	2.0	1.0–2.0	642	$1,784	$2.78	3d	42	1.10mi
3459 Springnite Dr Colorado Springs, CO	3.0	2.0	1351	$1,700	$1.26	24d	1	1.11mi
4703 Goodwin Grv Colorado Springs, CO	2.0	1.0–2.0	605	$1,525	$2.52	3d	8	1.20mi
1960 S Chelton Rd Colorado Springs, CO	3.0	1.0–2.0	810	$1,223	$1.51	24d	1	1.27mi
3860 Patrick Dr Unit 21 Colorado Springs, CO	2.0	1.0	1000	$1,429	$1.43	15d	1	1.31mi
4840 Manzana Dr Colorado Springs, CO	1.0–2.0	1.0	700	$1,350	$1.93	3d	7	1.32mi
4046 Mallette Hts Colorado Springs, CO	1.0–2.0	1.0–2.0	737	$1,659	$2.25	3d	6	1.32mi
3885 Lakehurst Dr Colorado Springs, CO	1.0–2.0	1.0	578	$1,253	$2.17	3d	10	1.32mi
4325 Fountain Springs Grv Colorado Springs, CO	1.0–3.0	1.0–2.0	920	$1,328	$1.44	3d	5	1.33mi
3815 Lakehurst Dr Colorado Springs, CO	2.0	1.0	700	$1,241	$1.77	24d	1	1.33mi
2023 Murray Creek Ct Colorado Springs, CO	1.0	1.0	569	$1,394	$2.45	3d	4	1.42mi
4710 Spacewalk Way Colorado Springs, CO	2.0	2.0	1068	$2,049	$1.92	3d	1	1.44mi

Listing history 20 events

1. 2026-06-18
   days on market $82,000 Active 120 DOM
2. 2026-06-17
   days on market $82,000 Active 119 DOM
3. 2026-06-16
   pricedays on market $82,000 Active 118 DOM
4. 2026-06-15
   days on market $86,000 Active 117 DOM
5. 2026-06-14
   days on market $86,000 Active 115 DOM
6. 2026-06-13
   days on market $86,000 Active 114 DOM
7. 2026-06-10
   days on market $86,000 Active 112 DOM
8. 2026-06-09
   days on market $86,000 Active 111 DOM
9. 2026-06-08
   days on market $86,000 Active 110 DOM
10. 2026-06-07
    days on market $86,000 Active 109 DOM
11. 2026-06-05
    days on market $86,000 Active 106 DOM
12. 2026-06-03
    days on market $86,000 Active 105 DOM
13. 2026-06-03
    days on market $86,000 Active 104 DOM
14. 2026-06-01
    days on market $86,000 Active 103 DOM
15. 2026-05-31
    days on market $86,000 Active 102 DOM
16. 2026-05-15
    price $86,000
17. 2026-05-06
    status Active
18. 2026-04-23
    status Pending
19. 2026-02-28
    price $89,000
20. 2026-02-06
    listed $94,950 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 6 d/yr ≥90°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: $21,126
• − Mortgage interest: −$4,593
• − Property taxes: −$1,230
• − Insurance: −$410
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$2,385
• Taxable income: $9,127
• Est. tax owed @ 24.0%: −$2,190
• After-tax cash flow: $7,699/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

-9.4% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $86,000 REColorado as Distributed by MLS Grid
• 2026-05-06 Relisted — REColorado as Distributed by MLS Grid
• 2026-04-23 Pending — REColorado as Distributed by MLS Grid
• 2026-02-28 Price Changed $89,000 REColorado as Distributed by MLS Grid
• 2026-02-06 Listed $94,950 REColorado as Distributed by MLS Grid