5150 Airport Rd Unit B93 · Colorado Springs, CO 80916

$64,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 45 Days on market

Built 2026

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 2 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as a basketball court, a playground, and a swimming pool, your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Swimming pool
• Basketball court
• Playground

Tags

• BASKETBALL COURT
• PLAYGROUND
• SWIMMING POOL

Property features AI

Finance

• Financial info: List price $64,000

Exterior

• Utilities: Natural gas available
• Home design: Spec home, plan 93896
• Exterior features: Located at 5150 Airport Rd Unit B93, Colorado Springs, CO

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms (both full)
• Heating & cooling: Natural gas heating
• Interior features: Active status listing

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $64k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Recommended offer: $62k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.3% 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.
• Colorado Springs School District No. 11 In The County Of E (urban): math 20% / reading 37% proficiency, ranked #56 of 86 in CO (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.4%/yr); 183 active listings in the ZIP; 40 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 33% 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 $442 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($62k) is reasonable based on typical stale-listing flexibility.

Recommended offer $62,080 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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: 2.88% ✓
• Cap rate: 25.35%
• Cash-on-cash: 68.05%
• DSCR: 4.03
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 66.7%
• Equity multiple: 3.97×
• Total profit: $53,197
• Equity at exit: $9,543

10-year hold

• IRR: 70.8%
• Equity multiple: 7.97×
• Total profit: $124,989
• Equity at exit: $5,534

Cash invested: $17,920 (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: 2.9×

Monthly cashflow live

• Estimated rent: $1,846 high
• Mortgage (P&I): −$336
• Tax est. 1.5%: −$80 /mo · $960/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $1,016

Break-even live

Break-even rent $560

Max offer price $64,000

Occupancy floor 40%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 Ellers Grv Colorado Springs, CO	3.0	2.0	1357	$1,869	$1.38	23d	1	0.23mi
299 Ellers Grv Colorado Springs, CO	2.0	2.0	1005	$1,667	$1.66	23d	1	0.23mi
4961 Leland Pt Colorado Springs, CO	2.0	2.0	1177	$1,495	$1.27	14d	1	0.28mi
4919 Leland Pt Colorado Springs, CO	3.0	2.0	1357	$1,600	$1.18	23d	1	0.33mi
4802 Checkerspot St Colorado Springs, CO	3.0–5.0	2.0–3.0	1853	$2,369	$1.28	3d	10	0.63mi
991 Ibsen Vw Colorado Springs, CO	2.0	1.0–2.0	630	$1,599	$2.54	2d	13	0.67mi
1046 Nolte Dr W Colorado Springs, CO	3.0	2.0	1450	$2,149	$1.48	2d	1	0.78mi
351 Gahart Dr Apt D Colorado Springs, CO	2.0	1.0	806	$1,295	$1.61	23d	1	0.85mi
349 Gahart Dr Colorado Springs, CO	2.0	1.0	884	$1,162	$1.31	23d	1	0.86mi
4445 E Pikes Peak Ave Colorado Springs, CO	2.0	1.0	950	$1,214	$1.28	3d	1	0.92mi
4457 E Pikes Peak Ave Colorado Springs, CO	2.0	1.0	950	$1,214	$1.28	3d	1	0.92mi
175 N Murray Blvd Colorado Springs, CO	1.0–2.0	1.0–2.0	773	$1,539	$1.99	3d	7	0.94mi
330 Vehr Dr Unit 1 Colorado Springs, CO	2.0	1.0	850	$1,500	$1.76	23d	1	0.97mi
330 Vehr Dr Unit 2 Colorado Springs, CO	2.0	1.0	709	$1,000	$1.41	23d	1	0.97mi
350 Vehr Dr Unit 3 Colorado Springs, CO	2.0	1.0	787	$955	$1.21	3d	1	0.97mi
9520 Antora GRV Colorado Springs, CO	1.0–3.0	1.0–2.5	1017	$2,789	$2.74	3d	41	1.06mi
4370 E Pikes Peak Ave Colorado Springs, CO	1.0–2.0	1.0	625	$1,536	$2.46	3d	12	1.09mi
255 Lionstone Dr Colorado Springs, CO	1.0–2.0	1.0–2.0	755	$1,802	$2.39	3d	14	1.10mi
705 Grissom Dr Colorado Springs, CO	3.0	2.5	1360	$2,139	$1.57	23d	1	1.12mi
5550 Cernan Hts Colorado Springs, CO	1.0–3.0	1.0–2.0	892	$2,225	$2.49	3d	19	1.13mi
240 N Murray Blvd Colorado Springs, CO	1.0–2.0	1.0	777	$1,196	$1.54	14d	17	1.13mi
4255 Airport Rd Colorado Springs, CO	1.0–2.0	1.0	785	$1,050	$1.34	2d	15	1.15mi
5704 Ella Vw Unit 1-428 Colorado Springs, CO	2.0	2.0	1052	$2,577	$2.45	21d	1	1.17mi
5704 Ella Vw Unit 1-328 Colorado Springs, CO	2.0	2.0	1052	$2,512	$2.39	21d	1	1.17mi
5704 Ella Vw Unit 1-426 Colorado Springs, CO	2.0	2.0	1052	$2,537	$2.41	21d	1	1.17mi
4165 Lacy Ln Colorado Springs, CO	1.0–2.0	1.0–2.0	750	$1,480	$1.97	2d	10	1.18mi
4710 Spacewalk Way Colorado Springs, CO	2.0	2.0	1068	$2,049	$1.92	2d	1	1.18mi
4215 E Pikes Peak Ave Colorado Springs, CO	2.0–3.0	1.0–1.5	1541	$2,373	$1.54	3d	7	1.19mi
4275 Sanders Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	932	$3,006	$3.23	2d	27	1.21mi
1210 Firefly Cir Colorado Springs, CO	2.0	1.0	940	$1,143	$1.22	23d	1	1.22mi
1334 Firefly Cir Colorado Springs, CO	2.0	2.5	1300	$1,700	$1.31	14d	1	1.24mi
4060 Airport Rd Unit 4 Colorado Springs, CO	2.0	1.0	752	$1,050	$1.40	23d	1	1.24mi
5704 Ella VW Colorado Springs, CO	2.0	2.0	1052	$2,910	$2.77	23d	1	1.24mi
5704 Ella VW Colorado Springs, CO	1.0–3.0	1.0–3.0	1107	$2,961	$2.67	3d	177	1.24mi
4536 Samaritan Loop Colorado Springs, CO	2.0	1.5	1108	$2,200	$1.99	23d	1	1.25mi
4202 E Pikes Peak Ave Colorado Springs, CO	1.0–2.0	1.0	760	$1,099	$1.45	3d	5	1.26mi
4020 Ruskin Way Unit 2 Colorado Springs, CO	2.0	1.0	750	$925	$1.23	3d	1	1.30mi
897 Grissom Dr Colorado Springs, CO	2.0	2.5	1150	$2,400	$2.09	23d	1	1.30mi
830 Cana Grv Colorado Springs, CO	2.0	1.0–2.0	605	$1,599	$2.64	2d	16	1.31mi
1432 Sandalwood Dr Colorado Springs, CO	1.0–2.0	1.0–2.0	742	$1,356	$1.83	2d	24	1.31mi

Listing history 14 events

1. 2026-06-18
   days on market $64,000 Active 45 DOM
2. 2026-06-17
   days on market $64,000 Active 44 DOM
3. 2026-06-16
   days on market $64,000 Active 43 DOM
4. 2026-06-15
   days on market $64,000 Active 42 DOM
5. 2026-06-14
   days on market $64,000 Active 40 DOM
6. 2026-06-10
   days on market $64,000 Active 37 DOM
7. 2026-06-09
   days on market $64,000 Active 36 DOM
8. 2026-06-08
   days on market $64,000 Active 35 DOM
9. 2026-06-07
   days on market $64,000 Active 34 DOM
10. 2026-06-05
    days on market $64,000 Active 31 DOM
11. 2026-06-03
    days on market $64,000 Active 30 DOM
12. 2026-06-03
    days on market $64,000 Active 29 DOM
13. 2026-06-01
    days on market $64,000 Active 28 DOM
14. 2026-05-31
    days on market $64,000 Active 27 DOM

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 6 d/yr ≥89°F today · 15 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: $22,154
• − Mortgage interest: −$3,585
• − Property taxes: −$960
• − Insurance: −$320
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$1,862
• Taxable income: $11,882
• Est. tax owed @ 24.0%: −$2,852
• After-tax cash flow: $9,342/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: Colorado Springs School District No. 11 In The County Of E
• NCES district ID: 0803060
• Math proficiency: 20% ▼ -8.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $47,884
• Composite: 24.69/100
• National rank: #7613
• State rank: #56 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