4135 Cordera Crest Ave · Colorado Springs, CO 80924

$171,760

2 bd · 1.0 ba · 89,002 sqft · Other public records · 34 Days on market

Built 2021

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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 +25.2/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +5.1/10.0
• Appreciation +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0

Listing remarks

Maintenance free 2 Bedroom, 1 bath unit with many upgrades in a 55+ Cooperative. First floor with 9 ft ceilings and all appliances including laundry in unit. Underground parking with car wash. Fitness room, large community room with reading areas and a fireplace, garden plots and wood working shop. This is a unique affordable ownership opportunity in a 55+ community. Check out the communities website for more details at Briargatecooperative.org

Key facts

• Underground parking
• Wood working shop
• First floor

Tags

• FIRST FLOOR
• UNDERGROUND PARKING
• FITNESS ROOM
• COMMUNITY ROOM
• GARDEN PLOTS
• WOOD WORKING SHOP

Property features AI

Exterior

• Home design: Built in 2021
• Construction: Living area approximately 1073
• Exterior features: Located in the Briargate subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $172k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $167k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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.
• 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.
• Market conditions: Rents soft (-0.8%/yr); 403 active listings in the ZIP; high-income renter base; 3,906 units permitted in El Paso County in 2024 (872 in 5+ unit buildings).
• This rent is only 17% of the median local income ($139k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k 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 34 days — a 3% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Recommended offer $166,607 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.16% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.54%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.81% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-556
• Equity at exit: $34,890

10-year hold

• IRR: 4.4%
• Equity multiple: 1.34×
• Total profit: $16,344
• Equity at exit: $31,290

Cash invested: $48,093 (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 80924

• Home prices YoY: -1.0%
• Rents YoY: -0.8%
• Active inventory: 403
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,986 medium
• Mortgage (P&I): −$901
• Tax est. 1.5%: −$215 /mo · $2,576/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $382

Break-even live

Break-even rent $1,503

Max offer price $171,760

Occupancy floor 76%

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: $42,940
• Closing costs: $5,153
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $171,760 Active 34 DOM
2. 2026-06-17
   days on market $171,760 Active 33 DOM
3. 2026-06-16
   days on market $171,760 Active 32 DOM
4. 2026-06-15
   days on market $171,760 Active 31 DOM
5. 2026-06-14
   days on market $171,760 Active 29 DOM
6. 2026-06-13
   days on market $171,760 Active 28 DOM
7. 2026-06-10
   days on market $171,760 Active 26 DOM
8. 2026-06-09
   days on market $171,760 Active 25 DOM
9. 2026-06-08
   days on market $171,760 Active 24 DOM
10. 2026-06-07
    days on market $171,760 Active 23 DOM
11. 2026-06-05
    days on market $171,760 Active 20 DOM
12. 2026-06-03
    days on market $171,760 Active 19 DOM
13. 2026-06-03
    days on market $171,760 Active 18 DOM
14. 2026-06-01
    days on market $171,760 Active 17 DOM
15. 2026-05-31
    days on market $171,760 Active 16 DOM
16. 2026-05-15
    listed $171,760 Active 448-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $23,836
• − Mortgage interest: −$9,621
• − Property taxes: −$2,576
• − Insurance: −$859
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − Depreciation: −$4,997
• Taxable income: $1,969
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $4,114/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: Academy School District No. 20 In The County Of El Paso An
• NCES district ID: 0801920
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 65% ▲ 1.00%
• Median HH income: $89,325
• Composite: 50.62/100
• National rank: #1840
• State rank: #8 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): 19,619
• Household income: $139,447
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 464.0

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 (74%)
• Race & ethnicity: White 74% Two or more races 10% Hispanic / Latino 9% Asian 5% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 5% Slovak 3% Romanian 2%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 3% German/W. Germanic 2%

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: ▼ -1.81%
• Current HPI: 180.049
• Rent YoY: ▼ -0.85%
• 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

1 event — show timeline

• 2026-05-15 Listed $171,760 FSBO.com

Property tax history

+126.4%/yr

Latest (2025): $62,087 · +5.7% YoY. Source: county tax records.