Marshfield Plan · Colorado Springs, CO 80906

$49,900

2 bd · 1.0 ba · 924 sqft · Manufactured · 45 Days on market

Fair condition

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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 +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 +2.4/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision to this vintage 1976 MARSHFIELD home at Circle Drive in Colorado Springs, CO. With 924 square feet and a practical single-wide layout, this retro fixer-upper is a great opportunity for a handyman, investor, or buyer looking for a project with potential.

Key facts

• Listed 44 days

Property features AI

Finance

• Financial info: List price $49,900; New construction plan inventory (Plan)

Exterior

• Home design: Single-story plan named Marshfield; Located at Marshfield Plan, Colorado Springs, CO 80906
• Construction: Living area approximately 924
• Exterior features: Metal roof

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Other heating type
• Interior features: Open living area

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $867 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.1% 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 soft (-0.4%/yr); 308 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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 $345 of loan paydown is wiped out by about $1k 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 + 0.0% rent growth), your $14k 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 ($48k) is reasonable based on typical stale-listing flexibility.

Recommended offer $48,403 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 3.07% ✓
• Cap rate: 27.15%
• Cash-on-cash: 74.48%
• DSCR: 4.31
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 70.9%
• Equity multiple: 4.05×
• Total profit: $42,670
• Equity at exit: $7,440

10-year hold

• IRR: 74.0%
• Equity multiple: 7.51×
• Total profit: $90,990
• Equity at exit: $4,314

Cash invested: $13,972 (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 80906

• Rents YoY: -0.4%
• Active inventory: 308
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,534 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $867

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 38%

Sensitivity live

Price	-10% $902	-5% $884	+0% $867	+5% $850	+10% $833
Rent	-10% $746	-5% $807	+0% $867	+5% $928	+10% $988
Rate	-1.0pp $892	-0.5pp $880	base $867	+0.5pp $854	+1.0pp $841

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2115 Birmingham Loop Colorado Springs, CO	1.0–3.0	1.0–2.0	923	$1,920	$2.08	4d	24	0.48mi
1836 Ralphs Rdg Colorado Springs, CO	1.0–2.0	1.0–2.0	702	$1,566	$2.23	4d	10	0.61mi
1316 Harrison Rd Colorado Springs, CO	3.0	1.0	894	$1,595	$1.78	22d	1	0.63mi
1535 Monterey Rd #230 Colorado Springs, CO	2.0	1.0	1008	$1,550	$1.54	24d	1	0.79mi
2218 Carmel Dr Colorado Springs, CO	3.0	1.0	1000	$1,950	$1.95	24d	1	0.79mi
2049 Legacy Ridge Vw Colorado Springs, CO	2.0	1.0	944	$1,335	$1.41	15d	1	0.82mi
2102 Carmel Dr Colorado Springs, CO	1.0	1.0	548	$749	$1.37	24d	1	0.84mi
1810 Eldorado Springs Hts Colorado Springs, CO	1.0–3.0	1.0–2.0	1081	$2,398	$2.22	4d	14	0.85mi
2010 Carmel Dr Colorado Springs, CO	1.0–2.0	1.0	701	$850	$1.21	11d	4	0.88mi
2050 Del Mar Dr Colorado Springs, CO	3.0	1.0	912	$2,095	$2.30	24d	1	0.89mi
1806 Monterey Rd Ste Off Colorado Springs, CO	2.0	1.0	661	$1,169	$1.77	4d	20	0.98mi
1751 Shenandoah Dr Colorado Springs, CO	2.0	1.5	960	$1,015	$1.06	24d	1	1.05mi
916 Tenderfoot Hill Rd Colorado Springs, CO	2.0	2.0	908	$1,822	$2.01	15d	1	1.08mi
848 Tenderfoot Hill Rd Colorado Springs, CO	2.0	2.0	908	$1,395	$1.54	24d	1	1.16mi
814 Tenderfoot Hill Rd #201 Colorado Springs, CO	2.0	2.0	908	$1,295	$1.43	4d	1	1.17mi
2005 S El Paso Ave Colorado Springs, CO	2.0	1.0	570	$1,260	$2.21	4d	9	1.18mi
2335 CoralBell Grv Colorado Springs, CO	1.0–3.0	1.0–2.0	997	$2,048	$2.05	24d	34	1.28mi
2335 CoralBell Grv Colorado Springs, CO	2.0–3.0	1.0–2.0	1004	$1,695	$1.69	4d	7	1.28mi
945 Moorings Dr Colorado Springs, CO	2.0	2.0	984	$1,712	$1.74	24d	1	1.29mi
2605 Verde Dr Colorado Springs, CO	1.0–2.0	1.0	722	$1,190	$1.65	4d	15	1.30mi
3308 Quail Lake Rd Colorado Springs, CO	1.0–2.0	1.0–2.0	943	$1,909	$2.02	4d	1	1.32mi
1698 Lenmar Dr Colorado Springs, CO	1.0–3.0	1.0	700	$1,302	$1.86	4d	26	1.33mi
750 E Cheyenne Rd Colorado Springs, CO	1.0–2.0	1.0	610	$1,175	$1.93	24d	5	1.38mi
1117 Verde Dr Colorado Springs, CO	2.0	1.0	714	$1,065	$1.49	4d	18	1.39mi
2730 Bentley Pt Colorado Springs, CO	1.0–2.0	1.0–2.0	715	$1,111	$1.55	24d	8	1.40mi
1026 Rice Dr Colorado Springs, CO	3.0	1.0	640	$1,341	$2.10	11d	27	1.41mi
2330 E Fountain Blvd Unit 37 Colorado Springs, CO	1.0	1.0	640	$950	$1.48	24d	1	1.45mi
2610 E Fountain Blvd Colorado Springs, CO	1.0–2.0	1.0	767	$1,099	$1.43	4d	5	1.47mi
890 Quail Lake Cir Colorado Springs, CO	1.0–3.0	1.0–2.0	1147	$1,798	$1.57	4d	21	1.48mi
2614 E Fountain Blvd Colorado Springs, CO	2.0	1.0	875	$1,062	$1.21	24d	1	1.48mi

Listing history 16 events

1. 2026-06-21
   days on market $49,900 Active 45 DOM
2. 2026-06-18
   days on market $49,900 Active 42 DOM
3. 2026-06-17
   days on market $49,900 Active 41 DOM
4. 2026-06-16
   days on market $49,900 Active 40 DOM
5. 2026-06-15
   days on market $49,900 Active 39 DOM
6. 2026-06-14
   days on market $49,900 Active 37 DOM
7. 2026-06-13
   days on market $49,900 Active 36 DOM
8. 2026-06-10
   days on market $49,900 Active 34 DOM
9. 2026-06-09
   days on market $49,900 Active 33 DOM
10. 2026-06-08
    days on market $49,900 Active 32 DOM
11. 2026-06-07
    days on market $49,900 Active 31 DOM
12. 2026-06-05
    days on market $49,900 Active 28 DOM
13. 2026-06-03
    days on market $49,900 Active 27 DOM
14. 2026-06-03
    days on market $49,900 Active 26 DOM
15. 2026-06-01
    days on market $49,900 Active 25 DOM
16. 2026-05-31
    days on market $49,900 Active 24 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 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 20 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: $18,410
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$1,452
• Taxable income: $10,220
• Est. tax owed @ 24.0%: −$2,453
• After-tax cash flow: $7,953/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab

This vintage 1976 Marshfield home presents as a moderate renovation project with significant wear and tear. Addressing the exterior siding, interior walls, flooring, and missing cabinet doors will significantly improve its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major bathroom cabinet doors — Missing doors
• Major kitchen cabinets — Missing doors
• Major flooring — Worn and stained carpet

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace worn flooring — Improves comfort and reduces maintenance costs
• Both Replace missing cabinet doors — Restores functionality and aesthetics
• Both Replace worn exterior siding — Enhances curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
bathroom cabinet doors · Missing doors	Major	$15,000–50,000
kitchen cabinets · Missing doors	Major	$15,000–50,000
flooring · Worn and stained carpet	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace worn flooring — Improves comfort and reduces maintenance costs ↑
• Both Replace missing cabinet doors — Restores functionality and aesthetics ↑
• Both Replace worn exterior siding — Enhances curb appeal and structural integrity ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• County: El Paso County · 689,348 people
• City population: 555,783
• Metro: Colorado Springs, CO
• Population (ZIP): 37,502
• Household income: $89,984
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 1572.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 18% Two or more races 11% Black 4% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2%
• Common ancestry: Italian 3% Romanian 3% Slovak 3%
• Foreign-born: 7% · Canada, South Korea, Vietnam
• Languages at home: 89% English-only · Spanish 6% Russian/Polish/Slavic 1% German/W. Germanic 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: ▼ -272.61%
• Current HPI: 248.2125
• Rent YoY: ▼ -0.43%
• 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