2394 Washo Cir · Cimarron Hills, CO 80915

$185,000

3 bd · 2.0 ba · 1,152 sqft · Townhouse public records · 135 Days on market

Built 1984 720 sqft lot Est $217k · 15% under $212/mo HOA · 10% of rent

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Why this score? — see what drove the C+ 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 +21.2/30.0
• ARV discount +14.1/15.0
• DSCR +6.8/10.0
• 1% rule +6.0/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This two-bedroom townhome offers a functional layout with comfortable living space in a convenient location near shopping, parks, and major roadways. The main level features a combined living and dining area with exposed wood beams and a wood-burning fireplace. The kitchen provides ample cabinet and counter space, along with access to the patio and nearby parking. A half bath on the main level adds convenience for guests. Upstairs you’ll find two spacious bedrooms. The primary bedroom includes an attached full bath with built-in storage and counter space, while the secondary bedroom features a walk-in closet. A skylight in the hallway provides natural light to the upper level. Additio

Key facts

• Built in storage
• Access to the patio
• Attached full bath

Tags

• WOOD BURNING FIREPLACE
• ACCESS TO THE PATIO
• ATTACHED FULL BATH
• BUILT IN STORAGE
• WALK IN CLOSET
• SKYLIGHT IN THE HALLWAY

Property features AI

Finance

• Other: High-speed internet available
• Financial info: Financing options include Cash, Conventional, FHA, and VA
• HOA & community: HOA required; Monthly association fee of $212; HOA covers common utilities, covenant enforcement, insurance, lawn and exterior maintenance, management, and snow removal; Community features include dog park, parks/open space, playground area, and shops

Exterior

• Utilities: Municipal water; Cable available; Electricity; Telephone
• Home design: Townhouse; Ground floor unit
• Construction: Wood frame structure; Stucco and wood siding; Composite shingle roof; Crawl space foundation; Existing home
• Exterior features: Composite, concrete, covered patio; Level lot; Near park, schools, and shopping

Interior

• Bedrooms: Primary bedroom on upper level
• Flooring: Carpet; Tile
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Cooling described in property remarks
• Interior features: Carpet and tile flooring; One fireplace; Forced air heating; Cooling details in property description
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $185k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• El Paso County Colorado School District 49 (urban): math 27% / reading 47% proficiency, ranked #27 of 86 in CO (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.6%/yr); 145 active listings in the ZIP; 30 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).
• This rent runs 34% 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 $6k 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 135 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $91k; list at $185k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.10% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.20%
• DSCR: 1.28
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $216,576
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2434 Cherokee Park Pl	0.08mi	3/1.5	1,152 (0%)	4mo	$194,000	$168	90
2478 Washo Cir	0.03mi	2/1.5 (-1)	1,152 (0%)	2mo	$208,000	$181	90
2476 Washo Cir	0.03mi	2/1.5 (-1)	1,152 (0%)	4mo	$185,000	$161	88
2364 Washo Cir	0.03mi	2/1.5 (-1)	1,152 (0%)	23mo	$240,000	$208	72
2443 Shawnee Dr	0.10mi	3/2.0	1,090 (-5%)	19mo	$305,000	$280	71
1810 Lanka Ln	0.64mi	3/1.5	1,280 (+11%)	8mo	$241,000	$188	43
1914 Lanka Ln	0.56mi	3/1.5	1,280 (+11%)	15mo	$227,900	$178	41
1820 Lanka Ln	0.63mi	3/1.5	1,280 (+11%)	16mo	$266,400	$208	37
1916 Lanka Ln	0.56mi	3/1.5	1,280 (+11%)	20mo	$255,500	$200	37

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 · 1.59% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.70×
• Total profit: $-15,721
• Equity at exit: $27,584

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-2,825
• Equity at exit: $15,995

Cash invested: $51,800 (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: 145
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,032 high
• Mortgage (P&I): −$970
• Tax from tax record: −$79 /mo · $945/yr
• Insurance: −$77
• HOA: −$212
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $267

Break-even live

Break-even rent $1,694

Max offer price $185,000

Occupancy floor 82%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2399 Washo Cir Colorado Springs, CO	2.0	1.5	960	$1,700	$1.77	2d	1	0.06mi
2434 Vanhoutte Vw Colorado Springs, CO	3.0	2.5	1438	$2,800	$1.95	2d	1	0.09mi
7333 Rosa Belle Hts Colorado Springs, CO	2.0	2.0	1302	$2,100	$1.61	21d	1	0.20mi
7230 Constitution Square Hts Colorado Springs, CO	1.0–3.0	1.0–2.0	992	$1,700	$1.71	2d	12	0.27mi
2645 Akers Dr Colorado Springs, CO	1.0–3.0	1.0–2.0	1035	$2,349	$2.27	2d	14	0.42mi
7640 Norice GRV Colorado Springs, CO	1.0–3.0	1.0–2.0	1051	$2,395	$2.28	2d	11	0.45mi
6944 Palmer Park Blvd Colorado Springs, CO	3.0	2.5	1280	$1,950	$1.52	2d	1	0.60mi
6765 Pahokee Ct Unit 1 Colorado Springs, CO	2.0	1.0	729	$1,395	$1.91	21d	1	0.71mi
6460 Mohican Dr Colorado Springs, CO	3.0	2.0	1040	$2,100	$2.02	2d	1	0.78mi
2641 Shannara Grv Colorado Springs, CO	2.0	2.5	1216	$1,800	$1.48	2d	1	0.89mi
6376 Chantilly Pl Colorado Springs, CO	3.0	2.0	988	$1,900	$1.92	2d	1	0.99mi
2505 Capital Dr Unit C-206 Colorado Springs, CO	2.0	2.0	1202	$1,955	$1.63	10d	1	1.02mi
8120 Postrock Dr Colorado Springs, CO	3.0	2.0	1215	$2,200	$1.81	2d	1	1.05mi
2052 Springside Dr Colorado Springs, CO	4.0	2.5	1464	$2,349	$1.60	21d	1	1.09mi
1888 Reilly Grv Colorado Springs, CO	2.0	2.5	1396	$2,150	$1.54	10d	1	1.12mi
1466 Hathaway Dr Unit F Colorado Springs, CO	2.0	1.0	730	$1,115	$1.53	3d	1	1.14mi
1329 Soaring Eagle Dr Colorado Springs, CO	2.0	2.0	960	$1,350	$1.41	21d	1	1.15mi
6450 Chippewa Rd Unit 3 Colorado Springs, CO	3.0	1.0	850	$1,395	$1.64	3d	1	1.18mi
1303 Soaring Eagle Dr Colorado Springs, CO	2.0	1.5	960	$1,495	$1.56	23d	1	1.20mi
1268 Soaring Eagle Dr Colorado Springs, CO	2.0	2.0	896	$1,414	$1.58	23d	1	1.22mi
2067 Woodpark Dr Colorado Springs, CO	3.0	2.0	1081	$2,250	$2.08	2d	1	1.26mi
1180 Chiricahua Loop Colorado Springs, CO	2.0	1.0	750	$900	$1.20	23d	1	1.27mi
2925 Creek View Rd Colorado Springs, CO	1.0–2.0	1.0–2.0	1009	$2,384	$2.36	2d	10	1.32mi
1115 Chiricahua Loop Unit B Colorado Springs, CO	2.0	1.0	752	$1,095	$1.46	3d	1	1.39mi
1048 Western Dr Unit 4 Colorado Springs, CO	2.0	1.0	810	$1,000	$1.23	14d	1	1.39mi
1055 Chiricahua Loop Colorado Springs, CO	2.0	1.0	750	$889	$1.19	23d	1	1.41mi
6850 Western Pl Unit 1 Colorado Springs, CO	2.0	1.0	730	$914	$1.25	3d	1	1.43mi
6829 Western Pl Colorado Springs, CO	2.0	1.0	800	$1,500	$1.88	23d	1	1.45mi
6823 Western Pl Colorado Springs, CO	2.0	1.0	800	$1,500	$1.88	23d	1	1.45mi
3281 Divine Hts Colorado Springs, CO	1.0–2.0	1.0–2.0	920	$1,876	$2.04	10d	21	1.49mi

HOA detail

• Monthly dues: $212 · $2,544/yr

Listing history 13 events

1. 2026-05-08
   status Pending
2. 2026-04-20
   price $185,000
3. 2026-04-10
   price $200,000
4. 2026-02-20
   price $209,500
5. 2026-02-20
   status Active
6. 2026-01-30
   status Pending
7. 2026-01-28
   price $162,500
8. 2026-01-05
   price $175,000
9. 2025-12-04
   listed $180,000 Active
10. 2023-01-30
    price $255,000
11. 2023-01-16
    price $260,000
12. 2005-08-02
    soldstatus $90,700
13. 1995-12-26
    soldstatus $55,000

ⓘ 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: $945 · $79/mo
• Projected year-2 tax: $1,017 · $85/mo
• Expected delta: +$73/yr (+$6/mo · 7.7%)

ⓘ 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 2/10 Low 6 d/yr ≥88°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: $24,386
• − Mortgage interest: −$10,363
• − Property taxes: −$945
• − Insurance: −$925
• − Repairs & maintenance: −$1,951
• − Management: −$1,951
• − HOA: −$2,544
• − Depreciation: −$5,382
• Taxable income: $326
• Est. tax owed @ 24.0%: −$78
• After-tax cash flow: $3,131/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: El Paso County Colorado School District 49
• NCES district ID: 0803870
• Math proficiency: 27% ▼ -4.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $75,604
• Composite: 34.38/100
• National rank: #5210
• State rank: #27 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

Price history

+236.4% since first listed

13 events — show timeline

• 2026-05-08 Pending — elevateMLS
• 2026-04-20 Price Changed $185,000 elevateMLS
• 2026-04-10 Price Changed $200,000 elevateMLS
• 2026-02-20 Price Changed $209,500 elevateMLS
• 2026-02-20 Relisted — elevateMLS
• 2026-01-30 Pending — elevateMLS
• 2026-01-28 Price Changed $162,500 elevateMLS
• 2026-01-05 Price Changed $175,000 elevateMLS
• 2025-12-04 Listed $180,000 elevateMLS
• 2023-01-30 Price Changed $255,000 elevateMLS
• 2023-01-16 Price Changed $260,000 elevateMLS
• 2005-08-02 Sold (Public Records) $90,700 Public Records
• 1995-12-26 Sold (Public Records) $55,000 Public Records

Property tax history

+4.8%/yr

Latest (2024): $945 · +12.0% YoY. Source: county tax records.