1206 Firefly Cir · Colorado Springs, CO 80916

$114,900

2 bd · 1.0 ba · 880 sqft · Condo public records · 79 Days on market

Built 1984 $415/mo HOA · 28% of rent

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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 +16.7/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 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

new vinyl plank flooring in living room, hall and bedrooms - freshly painted - new sliding closet doors - new bi-fold doors at utility area and hall closet

Key facts

• Sliding closet doors
• Bi-fold doors
• Vinyl plank flooring

Tags

• VINYL PLANK FLOORING
• SLIDING CLOSET DOORS
• BI-FOLD DOORS

Property features AI

Finance

• Financial info: Financing available: Cash, Conventional, FHA, VA
• HOA & community: HOA required; Association fee $415 monthly; HOA covers covenant enforcement, insurance, lawn care, management, and trash removal

Exterior

• Parking: Assigned garage space (1)
• Utilities: Municipal water; Cable available; Electricity available
• Home design: Condominium; Ground-floor unit; Garden-level foundation
• Construction: Framed on lot; Masonite-type siding; Composite shingle roof; Existing construction
• Exterior features: Concrete patio; Community fence; Level lot; Paved driveway; No alley

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range oven (gas/electric); Refrigerator
• Bedrooms: Main floor bedroom
• Flooring: Ceramic tile; Plank
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Ceramic tile and plank flooring; Wood-burning fireplace (main level)
• Laundry & utility: Electric washer/dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $71 ($854/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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.
• 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; 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 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 79 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $115k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 7.04%
• Cash-on-cash: 2.66%
• DSCR: 1.12
• GRM: 6.5

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: -12.9%
• Equity multiple: 0.54×
• Total profit: $-14,822
• Equity at exit: $17,132

10-year hold

• IRR: -4.9%
• Equity multiple: 0.69×
• Total profit: $-10,056
• Equity at exit: $9,934

Cash invested: $32,172 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,481 high
• Mortgage (P&I): −$603
• Tax from tax record: −$33 /mo · $401/yr
• Insurance: −$48
• HOA: −$415
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $71

Break-even live

Break-even rent $1,391

Max offer price $114,900

Occupancy floor 90%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1210 Firefly Cir Colorado Springs, CO	2.0	1.0	940	$1,143	$1.22	23d	1	0.03mi
1432 Sandalwood Dr Colorado Springs, CO	1.0–2.0	1.0–2.0	742	$1,356	$1.83	2d	24	0.12mi
4275 Sanders Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	932	$2,136	$2.29	2d	27	0.18mi
830 Cana Grv Colorado Springs, CO	2.0	1.0–2.0	605	$1,599	$2.64	2d	16	0.31mi
4536 Samaritan Loop Colorado Springs, CO	2.0	1.5	1108	$2,200	$1.99	23d	1	0.31mi
4710 Spacewalk Way Colorado Springs, CO	2.0	2.0	1068	$2,049	$1.92	2d	1	0.34mi
4325 Fountain Springs Grv Colorado Springs, CO	1.0–3.0	1.0–2.0	920	$1,328	$1.44	2d	5	0.41mi
1340 Inverness Dr Colorado Springs, CO	1.0–3.0	1.0–2.0	936	$1,612	$1.72	2d	17	0.50mi
4703 Goodwin Grv Colorado Springs, CO	2.0	1.0–2.0	605	$1,525	$2.52	2d	8	0.52mi
720 Chapman Dr Colorado Springs, CO	1.0–2.0	1.0–1.5	861	$1,351	$1.57	2d	20	0.55mi
4165 Lacy Ln Colorado Springs, CO	1.0–2.0	1.0–2.0	750	$1,480	$1.97	2d	10	0.60mi
1810 Kaleidos Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	1023	$1,998	$1.95	2d	6	0.62mi
4255 Airport Rd Colorado Springs, CO	1.0–2.0	1.0	785	$1,050	$1.34	2d	15	0.71mi
1737 Ramjet PT Colorado Springs, CO	2.0	1.0–2.0	642	$1,784	$2.78	2d	42	0.73mi
4046 Mallette Hts Colorado Springs, CO	1.0–2.0	1.0–2.0	737	$1,659	$2.25	2d	6	0.74mi
4960 Fountain Ford Vw Colorado Springs, CO	1.0–3.0	1.0–2.0	973	$1,872	$1.92	2d	28	0.75mi
350 Vehr Dr Unit 3 Colorado Springs, CO	2.0	1.0	787	$955	$1.21	3d	1	0.76mi
357 Gahart Dr Unit 4 Colorado Springs, CO	2.0	1.0	630	$950	$1.51	3d	1	0.76mi
1609 Zebulon Dr Colorado Springs, CO	2.0–3.0	2.0	1029	$1,078	$1.05	14d	7	0.77mi
349 Gahart Dr Colorado Springs, CO	2.0	1.0	884	$1,162	$1.31	23d	1	0.78mi
330 Vehr Dr Unit 1 Colorado Springs, CO	2.0	1.0	850	$1,500	$1.76	23d	1	0.78mi
330 Vehr Dr Unit 2 Colorado Springs, CO	2.0	1.0	709	$1,000	$1.41	23d	1	0.78mi
934 Acapulco Ct Colorado Springs, CO	2.0	1.0	858	$1,343	$1.57	23d	1	0.79mi
351 Gahart Dr Apt D Colorado Springs, CO	2.0	1.0	806	$1,295	$1.61	23d	1	0.79mi
1074 Acapulco Ct Colorado Springs, CO	2.0	1.0	858	$1,295	$1.51	23d	1	0.79mi
3684 Iguana Dr Colorado Springs, CO	2.0	2.0	992	$1,695	$1.71	2d	1	0.79mi
952 Acapulco Ct Colorado Springs, CO	2.0	1.0	858	$1,285	$1.50	2d	1	0.80mi
4060 Airport Rd Unit 4 Colorado Springs, CO	2.0	1.0	752	$1,050	$1.40	23d	1	0.82mi
3624 Iguana Dr Unit 1 Colorado Springs, CO	2.0	2.0	992	$1,695	$1.71	2d	1	0.83mi
3620 Verde Dr Unit 103 Colorado Springs, CO	2.0	1.0	850	$1,175	$1.38	23d	1	0.84mi
1960 S Chelton Rd Colorado Springs, CO	3.0	1.0–2.0	810	$1,223	$1.51	23d	1	0.84mi
321 Bonnie Ct Colorado Springs, CO	2.0	1.0	600	$1,004	$1.67	14d	1	0.85mi
991 Ibsen Vw Colorado Springs, CO	2.0	1.0–2.0	630	$1,599	$2.54	2d	13	0.86mi
335 Ruskin Dr Colorado Springs, CO	2.0	1.0	760	$925	$1.22	14d	1	0.86mi
4020 Ruskin Way Unit 2 Colorado Springs, CO	2.0	1.0	750	$925	$1.23	3d	1	0.88mi
411 Lakewood Cir Unit B1110 Colorado Springs, CO	1.0	1.0	576	$845	$1.47	23d	1	0.89mi
1785 Zebulon Dr Unit D Colorado Springs, CO	2.0	1.0	700	$1,125	$1.61	14d	1	0.94mi
2023 Murray Creek Ct Colorado Springs, CO	1.0	1.0	569	$1,394	$2.45	2d	4	0.94mi
1825 Zebulon Dr Colorado Springs, CO	2.0	1.0	851	$1,066	$1.25	23d	1	0.96mi
1041 Palacio Vw Colorado Springs, CO	1.0–2.0	1.0–2.0	846	$1,675	$1.98	10d	32	1.03mi

HOA detail condo

• Monthly dues: $415 · $4,980/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $114,900 Active 79 DOM
2. 2026-06-17
   days on market $114,900 Active 78 DOM
3. 2026-06-16
   days on market $114,900 Active 77 DOM
4. 2026-06-15
   price $114,900 Active 76 DOM
5. 2026-06-15
   days on market $124,999 Active 76 DOM
6. 2026-06-14
   days on market $124,999 Active 74 DOM
7. 2026-06-13
   days on market $124,999 Active 73 DOM
8. 2026-06-10
   days on market $124,999 Active 71 DOM
9. 2026-06-09
   days on market $124,999 Active 70 DOM
10. 2026-06-08
    days on market $124,999 Active 69 DOM
11. 2026-06-07
    days on market $124,999 Active 68 DOM
12. 2026-06-05
    days on market $124,999 Active 65 DOM
13. 2026-06-03
    days on market $124,999 Active 64 DOM
14. 2026-06-03
    days on market $124,999 Active 63 DOM
15. 2026-06-02
    price $124,999 Active 62 DOM
16. 2026-06-01
    days on market $134,000 Active 62 DOM
17. 2026-05-31
    days on market $134,000 Active 61 DOM
18. 2026-05-08
    price $134,000
19. 2026-03-31
    listed $139,000 Active
20. 2001-12-10
    soldstatus $66,000
21. 1995-11-07
    soldstatus $43,500
22. 1985-02-01
    soldstatus $57,700

ⓘ 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: $401 · $33/mo
• Projected year-2 tax: $632 · $53/mo
• Expected delta: +$231/yr (+$19/mo · 57.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°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: $17,773
• − Mortgage interest: −$6,436
• − Property taxes: −$401
• − Insurance: −$574
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − HOA: −$4,980
• − Depreciation: −$3,343
• Taxable loss: −$805
• Est. tax savings @ 24.0%: +$193
• After-tax cash flow: $1,048/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

+132.2% since first listed

5 events — show timeline

• 2026-05-08 Price Changed $134,000 elevateMLS
• 2026-03-31 Listed $139,000 elevateMLS
• 2001-12-10 Sold (Public Records) $66,000 Public Records
• 1995-11-07 Sold (Public Records) $43,500 Public Records
• 1985-02-01 Sold (Public Records) $57,700 Public Records

Property tax history

+1.5%/yr

Latest (2024): $401 · +65.4% YoY. Source: county tax records.