322 Iris Dr · Fountain, CO 80817

$270,000

3 bd · 2.0 ba · 1,324 sqft · SingleFamily public records · 22 Days on market

Built 1978 6,720 sqft lot Est $359k · 25% under

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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 +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• Rent growth +3.2/5.0
• 1% rule +2.9/10.0
• Livability +2.9/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming & Affordable Ranch-Style Home in a Peaceful Fountain Neighborhood awaits new owners! This cozy and inviting 3-bedroom, 2-bath home offers comfort and convenience in a serene, well-established area of Fountain. Featuring a spacious great room with a wood-burning stove, perfect for those cozy Colorado evenings, and a large kitchen with an eat-in nook, this home provides ample flexibility for another dining area or other use. Adjacent to the kitchen is a conveniently located laundry room. The sprawling backyard offers plenty of space for outdoor activities or relaxation. Plus, a whole-house attic fan ensures a cool and comfortable environment during warmer months. This gem is nestled on a low-traffic street, making it perfect for peaceful living. Enjoy easy access to nearby schools, Fountain Creek Trail, parks, dining, entertainment, and quick routes to Fort Carson, Colorado Springs, and I-25. This home has everything but you - schedule your visit today!

Key facts

• 6,720 sq ft lot
• Garage
• Built 1978

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $95 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (20.9% below list).
• Recommended offer: $214k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.3% in Fountain — 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 58/100 on livability (#300 in CO) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living C-, crime D-, amenities F.
• Fountain School District No. 8 In The County Of El Paso An (suburban): math 22% / reading 41% proficiency, ranked #47 of 86 in CO (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Aragon Elementary School (math 24% / reading 32%, grade F, #540 of 966 statewide, top 57%, 419 students, 68% FRL); Fountain Middle School (math 15% / reading 31%, grade F, #184 of 270 statewide, top 68%, 1,046 students, 43% FRL); Fountain-Fort Carson High School (math 27% / reading 54%, grade F, #164 of 381 statewide, top 43%, 2,040 students, 36% FRL) — zoned schools average 49% FRL vs 32% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 235 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $8k 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 22 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $213,681 (20.9% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D 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?
5. 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?
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: 0.79% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.50%
• DSCR: 1.07
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $358,804
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Lark St	0.29mi	3/2.0	1,295 (-2%)	2mo	$351,000	$271	81
973 Desert Cir	0.39mi	4/2.0 (+1)	1,296 (-2%)	0mo	$300,000	$231	73
579 Blossom Field Rd	0.52mi	3/2.0	1,251 (-6%)	2mo	$360,000	$288	65
404 Columbine St	0.14mi	4/2.0 (+1)	1,128 (-15%)	8mo	$270,000	$239	57
157 Cherry Cir	0.48mi	4/2.0 (+1)	1,460 (+10%)	1mo	$288,700	$198	55
465 Calle Entrada	0.72mi	3/1.5	1,257 (-5%)	4mo	$353,000	$281	52
109 Blossom Field Ct	0.56mi	3/1.0	1,448 (+9%)	2mo	$350,000	$242	52
151 Cherry Cir	0.52mi	3/1.5	1,188 (-10%)	11mo	$290,000	$244	47
505 Blossom Field Rd	0.66mi	3/2.0	1,195 (-10%)	10mo	$235,500	$197	44
702 Blossom Field Rd	0.56mi	3/1.0	1,174 (-11%)	11mo	$345,000	$294	42
685 Autumn Pl	0.56mi	3/1.0	1,138 (-14%)	10mo	$352,000	$309	38
502 Fountain Mesa Rd	0.71mi	3/2.0	1,170 (-12%)	11mo	$370,000	$316	38

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-38,647
• Equity at exit: $40,258

10-year hold

• IRR: -6.2%
• Equity multiple: 0.61×
• Total profit: $-29,662
• Equity at exit: $23,345

Cash invested: $75,600 (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 80817

• Home prices YoY: -30.8%
• Rents YoY: 2.6%
• Active inventory: 235
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,137 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $95

Break-even live

Break-even rent $2,017

Max offer price $270,000

Occupancy floor 91%

Sensitivity live

Price	-10% $248	-5% $171	+0% $95	+5% $18	+10% $-58
Rent	-10% $-74	-5% $10	+0% $95	+5% $179	+10% $264
Rate	-1.0pp $231	-0.5pp $163	base $95	+0.5pp $25	+1.0pp $-46

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1019 Grinde Dr Fountain, CO	2.0	2.0	1065	$2,070	$1.94	5d	1	0.25mi
722 Blossom Field Rd Fountain, CO	3.0	1.0	1478	$2,099	$1.42	5d	1	0.59mi
9429 Fence Post Ct Fountain, CO	2.0	2.5	1302	$1,750	$1.34	23d	1	0.66mi
323 E Missouri Ave Fountain, CO	3.0	3.0	1384	$1,760	$1.27	21d	1	0.73mi
377 E Missouri Ave Unit 323 Fountain, CO	3.0	3.0	1384	$1,760	$1.27	21d	1	0.75mi
608 Stubblefield Dr Fountain, CO	3.0	2.0	1568	$2,100	$1.34	23d	1	0.89mi
767 Descendant Dr Fountain, CO	3.0	2.0	1020	$1,895	$1.86	5d	1	1.19mi
7350 Country Side Grv Fountain, CO	2.0	2.0	1292	$1,875	$1.45	5d	1	1.26mi
1143 White Stone Way Fountain, CO	3.0	2.0	1234	$2,100	$1.70	5d	1	1.30mi
8390 Dassel Dr Fountain, CO	4.0	3.0	1700	$2,395	$1.41	5d	1	1.31mi
10588 Wells Pt Fountain, CO	2.0	2.5	1507	$1,995	$1.32	23d	1	1.34mi
10574 Country Park Pt Fountain, CO	2.0	2.5	1306	$1,650	$1.26	25d	1	1.36mi
7479 Country Side Grv Fountain, CO	3.0	3.0	1507	$1,950	$1.29	16d	1	1.38mi
6519 Sweet Home GRV Fountain, CO	1.0–3.0	1.0–2.0	1035	$2,672	$2.58	5d	18	1.40mi
8359 Silver Glen Dr Fountain, CO	3.0	2.0	1328	$2,149	$1.62	5d	1	1.44mi
10863 Traders Pkwy Fountain, CO	3.0	2.5	1671	$2,400	$1.44	12d	1	1.47mi
8739 Langford Dr Fountain, CO	3.0	3.0	1448	$2,225	$1.54	25d	1	1.48mi
7678 Benecia Dr Fountain, CO	3.0	2.5	1661	$2,325	$1.40	12d	1	1.48mi
8405 Sunbow Ct Fountain, CO	3.0	2.0	1328	$2,189	$1.65	5d	1	1.49mi

Listing history 31 events

1. 2026-06-22
   days on market $270,000 Active 22 DOM
2. 2026-06-18
   days on market $270,000 Active 19 DOM
3. 2026-06-17
   days on market $270,000 Active 18 DOM
4. 2026-06-16
   days on market $270,000 Active 17 DOM
5. 2026-06-15
   days on market $270,000 Active 16 DOM
6. 2026-06-14
   days on market $270,000 Active 14 DOM
7. 2026-06-10
   days on market $270,000 Active 11 DOM
8. 2026-06-09
   days on market $270,000 Active 10 DOM
9. 2026-06-08
   days on market $270,000 Active 9 DOM
10. 2026-06-07
    days on market $270,000 Active 8 DOM
11. 2026-06-03
    days on market $270,000 Active 4 DOM
12. 2026-06-03
    days on market $270,000 Active 3 DOM
13. 2026-06-01
    days on market $270,000 Active 2 DOM
14. 2026-05-31
    price $270,000 Active 1 DOM
15. 2026-05-31
    status $260,000 Active 1 DOM
16. 2026-04-11
    status Pending
17. 2026-04-10
    listed $260,000 Active
18. 2024-12-21
    soldstatus $320,000
19. 2024-12-20
    soldstatus $320,000 Sold 980-char remark

    Show marketing remark (980 chars)

    Charming & Affordable Ranch-Style Home in a Peaceful Fountain Neighborhood awaits new owners! This cozy and inviting 3-bedroom, 2-bath home offers comfort and convenience in a serene, well-established area of Fountain. Featuring a spacious great room with a wood-burning stove, perfect for those cozy Colorado evenings, and a large kitchen with an eat-in nook, this home provides ample flexibility for another dining area or other use. Adjacent to the kitchen is a conveniently located laundry room. The sprawling backyard offers plenty of space for outdoor activities or relaxation. Plus, a whole-house attic fan ensures a cool and comfortable environment during warmer months. This gem is nestled on a low-traffic street, making it perfect for peaceful living. Enjoy easy access to nearby schools, Fountain Creek Trail, parks, dining, entertainment, and quick routes to Fort Carson, Colorado Springs, and I-25. This home has everything but you - schedule your visit today!

20. 2024-11-22
    historical 980-char remark

    Show marketing remark (980 chars)

    Charming & Affordable Ranch-Style Home in a Peaceful Fountain Neighborhood awaits new owners! This cozy and inviting 3-bedroom, 2-bath home offers comfort and convenience in a serene, well-established area of Fountain. Featuring a spacious great room with a wood-burning stove, perfect for those cozy Colorado evenings, and a large kitchen with an eat-in nook, this home provides ample flexibility for another dining area or other use. Adjacent to the kitchen is a conveniently located laundry room. The sprawling backyard offers plenty of space for outdoor activities or relaxation. Plus, a whole-house attic fan ensures a cool and comfortable environment during warmer months. This gem is nestled on a low-traffic street, making it perfect for peaceful living. Enjoy easy access to nearby schools, Fountain Creek Trail, parks, dining, entertainment, and quick routes to Fort Carson, Colorado Springs, and I-25. This home has everything but you - schedule your visit today!

21. 2024-11-11
    price $321,900 980-char remark

    Show marketing remark (980 chars)

    Charming & Affordable Ranch-Style Home in a Peaceful Fountain Neighborhood awaits new owners! This cozy and inviting 3-bedroom, 2-bath home offers comfort and convenience in a serene, well-established area of Fountain. Featuring a spacious great room with a wood-burning stove, perfect for those cozy Colorado evenings, and a large kitchen with an eat-in nook, this home provides ample flexibility for another dining area or other use. Adjacent to the kitchen is a conveniently located laundry room. The sprawling backyard offers plenty of space for outdoor activities or relaxation. Plus, a whole-house attic fan ensures a cool and comfortable environment during warmer months. This gem is nestled on a low-traffic street, making it perfect for peaceful living. Enjoy easy access to nearby schools, Fountain Creek Trail, parks, dining, entertainment, and quick routes to Fort Carson, Colorado Springs, and I-25. This home has everything but you - schedule your visit today!

22. 2024-10-03
    status Active 980-char remark

    Show marketing remark (980 chars)

    Charming & Affordable Ranch-Style Home in a Peaceful Fountain Neighborhood awaits new owners! This cozy and inviting 3-bedroom, 2-bath home offers comfort and convenience in a serene, well-established area of Fountain. Featuring a spacious great room with a wood-burning stove, perfect for those cozy Colorado evenings, and a large kitchen with an eat-in nook, this home provides ample flexibility for another dining area or other use. Adjacent to the kitchen is a conveniently located laundry room. The sprawling backyard offers plenty of space for outdoor activities or relaxation. Plus, a whole-house attic fan ensures a cool and comfortable environment during warmer months. This gem is nestled on a low-traffic street, making it perfect for peaceful living. Enjoy easy access to nearby schools, Fountain Creek Trail, parks, dining, entertainment, and quick routes to Fort Carson, Colorado Springs, and I-25. This home has everything but you - schedule your visit today!

23. 2024-09-23
    historical 980-char remark

    Show marketing remark (980 chars)

    Charming & Affordable Ranch-Style Home in a Peaceful Fountain Neighborhood awaits new owners! This cozy and inviting 3-bedroom, 2-bath home offers comfort and convenience in a serene, well-established area of Fountain. Featuring a spacious great room with a wood-burning stove, perfect for those cozy Colorado evenings, and a large kitchen with an eat-in nook, this home provides ample flexibility for another dining area or other use. Adjacent to the kitchen is a conveniently located laundry room. The sprawling backyard offers plenty of space for outdoor activities or relaxation. Plus, a whole-house attic fan ensures a cool and comfortable environment during warmer months. This gem is nestled on a low-traffic street, making it perfect for peaceful living. Enjoy easy access to nearby schools, Fountain Creek Trail, parks, dining, entertainment, and quick routes to Fort Carson, Colorado Springs, and I-25. This home has everything but you - schedule your visit today!

24. 2024-09-12
    listed $322,000 Active 980-char remark

    Show marketing remark (980 chars)

    Charming & Affordable Ranch-Style Home in a Peaceful Fountain Neighborhood awaits new owners! This cozy and inviting 3-bedroom, 2-bath home offers comfort and convenience in a serene, well-established area of Fountain. Featuring a spacious great room with a wood-burning stove, perfect for those cozy Colorado evenings, and a large kitchen with an eat-in nook, this home provides ample flexibility for another dining area or other use. Adjacent to the kitchen is a conveniently located laundry room. The sprawling backyard offers plenty of space for outdoor activities or relaxation. Plus, a whole-house attic fan ensures a cool and comfortable environment during warmer months. This gem is nestled on a low-traffic street, making it perfect for peaceful living. Enjoy easy access to nearby schools, Fountain Creek Trail, parks, dining, entertainment, and quick routes to Fort Carson, Colorado Springs, and I-25. This home has everything but you - schedule your visit today!

25. 2004-02-02
    soldstatus $124,500
26. 2004-01-07
    soldstatus $96,500
27. 2003-10-20
    soldstatus $96,500
28. 1994-09-29
    soldstatus $65,000
29. 1993-05-04
    soldstatus $59,000
30. 1984-02-01
    soldstatus $54,300
31. 1980-09-01
    soldstatus $47,500

ⓘ 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: $779 · $65/mo
• Projected year-2 tax: $1,485 · $124/mo
• Expected delta: +$706/yr (+$59/mo · 90.5%)

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 19 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: $25,642
• − Mortgage interest: −$15,124
• − Property taxes: −$779
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,051
• − Management: −$2,051
• − Depreciation: −$7,855
• Taxable loss: −$3,569
• Est. tax savings @ 24.0%: +$857
• After-tax cash flow: $1,993/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: Fountain School District No. 8 In The County Of El Paso An
• NCES district ID: 0804080
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 41% ▼ -4.00%
• Median HH income: $51,860
• Composite: 27.55/100
• National rank: #6943
• State rank: #47 of 86 in CO

Livability — Fountain

• Score: 58/100
• State rank: #300
• US rank: #21054

Category grades

Amenities F Commute F Cost of living C- Crime D- Employment C+ Housing A+ Health & safety F User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fountain, CO
• County: El Paso County · 689,348 people
• City population: 31,241
• Metro: Colorado Springs, CO
• Population (ZIP): 31,241
• Household income: $86,543
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 869.0

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 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 24% Two or more races 14% Black 9% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 7% German/W. Germanic 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: ▼ -118.77%
• Current HPI: 267.231
• Rent YoY: ▲ 2.63%
• 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

+447.4% since first listed

16 events — show timeline

• 2026-04-11 Pending — elevateMLS
• 2026-04-10 Listed $260,000 elevateMLS
• 2024-12-21 Sold (Public Records) $320,000 Public Records
• 2024-12-20 Sold (MLS) $320,000 elevateMLS
• 2024-11-22 Delisted — elevateMLS
• 2024-11-11 Price Changed $321,900 elevateMLS
• 2024-10-03 Relisted — elevateMLS
• 2024-09-23 Delisted — elevateMLS
• 2024-09-12 Listed $322,000 elevateMLS
• 2004-02-02 Sold (Public Records) $124,500 Public Records
• 2004-01-07 Sold (Public Records) $96,500 Public Records
• 2003-10-20 Sold (Public Records) $96,500 Public Records
• 1994-09-29 Sold (Public Records) $65,000 Public Records
• 1993-05-04 Sold (Public Records) $59,000 Public Records
• 1984-02-01 Sold (Public Records) $54,300 Public Records
• 1980-09-01 Sold (Public Records) $47,500 Public Records

Property tax history

+2.5%/yr

Latest (2024): $779 · +20.1% YoY. Source: county tax records.