3303 N Hancock Ave · Colorado Springs, CO 80907

$60,000

2 bd · 2.0 ba · 1,410 sqft · Land public records · 132 Days on market

Built 1968 1,200 sqft lot

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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 +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this cozy 2-bedroom home, centrally located for easy access to shopping, dining, and everyday conveniences. Thoughtful upgrades add comfort and charm while preserving a warm, welcoming feel. Ideal for those seeking a comfortable home in a prime location. Extra parking, storage, and a fenced yard included!

Key facts

• Extra parking
• Easy access
• Thoughtful upgrades

Tags

• CENTRALLY LOCATED
• EASY ACCESS
• THOUGHTFUL UPGRADES
• EXTRA PARKING
• FENCED YARD

Property features AI

Finance

• Financial info: Monthly land lease: $982; Land lease expiration: December 31, 2050
• HOA & community: Land lease in effect (Highland Park)

Exterior

• Parking: 2 parking spaces; 2-car carport with storage
• Utilities: Public water; Public sewer; Electricity connected; Propane service
• Home design: Manufactured home located in a park; Mobile home (Fleetwood), 56' x 12'; Single-story; Owned individually; Located in Highland Park
• Construction: Mobile home construction
• Exterior features: Private yard; Partial fencing

Interior

• Kitchen: Range; Refrigerator; Microwave; Garbage disposal
• Bedrooms: 2 bedrooms on the main level; Primary suite with en suite half bath
• Flooring: Laminate flooring throughout (wood-look)
• Bathrooms: 1 full bathroom (main level) with updated porcelain tile; 1 half bathroom (main level, en suite to primary)
• Heating & cooling: Forced air heating (propane); Cooling: Other
• Interior features: Ceiling fans; Eat-in kitchen; No stairs (single-level)
• Laundry & utility: Washer; Dryer; Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $60k.

Deal economics

• At list price, monthly cash flow is $874 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.8% 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.
• Zoned schools: Edison Elementary School (math 30% / reading 37%, grade F, #454 of 966 statewide, top 47%, 263 students, 77% FRL); Mann Middle School (math 12% / reading 27%, grade F, #207 of 270 statewide, top 79%, 387 students, 67% FRL); Doherty High School (math 26% / reading 49%, grade F, #192 of 381 statewide, top 51%, 1,832 students, 44% FRL).
• Market conditions: Rents flat; 195 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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 $415 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 + 0.1% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.72% ✓
• Cap rate: 23.78%
• Cash-on-cash: 62.46%
• DSCR: 3.78
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.11% rent growth · sell at horizon

5-year hold

• IRR: 58.1%
• Equity multiple: 3.46×
• Total profit: $41,385
• Equity at exit: $8,946

10-year hold

• IRR: 61.9%
• Equity multiple: 6.36×
• Total profit: $89,991
• Equity at exit: $5,188

Cash invested: $16,800 (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 80907

• Rents YoY: 0.1%
• Active inventory: 195
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,632 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $874

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 41%

Sensitivity live

Price	-10% $916	-5% $895	+0% $874	+5% $854	+10% $833
Rent	-10% $746	-5% $810	+0% $874	+5% $939	+10% $1,003
Rate	-1.0pp $905	-0.5pp $890	base $874	+0.5pp $859	+1.0pp $843

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1170 Westmoreland Rd Colorado Springs, CO	2.0	1.0	900	$1,250	$1.39	25d	1	0.47mi
906 1/2 Carlisle St Colorado Springs, CO	2.0	1.0	1128	$1,245	$1.10	25d	1	0.48mi
3820 Meadow Ln Colorado Springs, CO	3.0	1.0	1198	$1,600	$1.34	16d	1	0.58mi
1075 Magnolia St Apt 3 Colorado Springs, CO	2.0	1.0	900	$845	$0.94	5d	1	0.59mi
1075 Magnolia St Apt 1 Colorado Springs, CO	2.0	1.0	900	$795	$0.88	5d	1	0.59mi
3750 Catalpa Dr Colorado Springs, CO	3.0	2.0	1352	$2,095	$1.55	25d	1	0.62mi
6715 N Century St Colorado Springs, CO	1.0–3.0	1.0–2.0	1043	$2,105	$2.02	4d	26	0.75mi
10 Cragmor Village Rd Colorado Springs, CO	1.0–4.0	1.0–4.0	979	$2,011	$2.05	5d	1	0.84mi
4012 Muse Way Colorado Springs, CO	2.0	1.5	1124	$1,598	$1.42	25d	1	0.92mi
2608 Jay Pl Colorado Springs, CO	3.0	1.0	1025	$1,980	$1.93	5d	1	0.94mi
4033 Muse Way Colorado Springs, CO	2.0	1.5	1121	$1,500	$1.34	25d	1	0.96mi
1921 E Van Buren St Colorado Springs, CO	1.0–3.0	1.0	825	$1,388	$1.68	5d	10	1.14mi
2524 N Weber St Colorado Springs, CO	3.0	1.0	1242	$2,700	$2.17	25d	1	1.17mi
1141 E Madison St Colorado Springs, CO	3.0	1.0	960	$1,925	$2.01	5d	1	1.22mi
2822 N Cascade Ave Unit 2824 Colorado Springs, CO	2.0	2.0	1032	$1,995	$1.93	16d	1	1.24mi
2020 N Franklin St Colorado Springs, CO	3.0	1.0	1100	$1,795	$1.63	25d	1	1.32mi
2232 N Weber St Apt E Colorado Springs, CO	2.0	1.0	884	$1,295	$1.46	16d	1	1.37mi
2230 N Weber St Apt E Colorado Springs, CO	2.0	1.0	884	$1,295	$1.46	5d	1	1.37mi
2544 Blazek Loop Colorado Springs, CO	2.0	3.0	1088	$2,500	$2.30	25d	1	1.41mi
2446 Blazek Loop Colorado Springs, CO	2.0	3.0	1267	$1,818	$1.43	25d	1	1.43mi

Listing history 38 events

1. 2026-06-22
   days on market $60,000 Active 132 DOM
2. 2026-06-18
   days on market $60,000 Active 129 DOM
3. 2026-06-17
   days on market $60,000 Active 128 DOM
4. 2026-06-16
   days on market $60,000 Active 127 DOM
5. 2026-06-15
   days on market $60,000 Active 126 DOM
6. 2026-06-14
   days on market $60,000 Active 124 DOM
7. 2026-06-10
   days on market $60,000 Active 121 DOM
8. 2026-06-09
   days on market $60,000 Active 120 DOM
9. 2026-06-08
   days on market $60,000 Active 119 DOM
10. 2026-06-07
    days on market $60,000 Active 118 DOM
11. 2026-06-05
    days on market $60,000 Active 115 DOM
12. 2026-06-03
    days on market $60,000 Active 114 DOM
13. 2026-06-03
    days on market $60,000 Active 113 DOM
14. 2026-06-01
    days on market $60,000 Active 112 DOM
15. 2026-05-31
    days on market $60,000 Active 111 DOM
16. 2026-05-17
    price $60,000
17. 2026-03-31
    historical
18. 2026-02-09
    listed $65,000 Active
19. 2026-01-05
    price $74,900
20. 2025-10-23
    price $80,000
21. 2025-09-13
    listed $95,000 Active
22. 2024-07-22
    historical
23. 2024-06-06
    listed $115,000 Active
24. 2024-05-31
    historical
25. 2024-04-22
    listed $125,000 Active
26. 2022-07-13
    soldstatus $78,000 Closed
27. 2022-05-18
    status Pending
28. 2022-05-06
    status Active
29. 2022-05-04
    status Pending
30. 2022-04-29
    listed $100,000 Active
31. 2022-04-28
    historical $100,000
32. 2005-04-25
    soldstatus $2,490,000
33. 1997-05-27
    soldstatus $8,500
34. 1996-05-13
    soldstatus $999,999
35. 1994-07-15
    soldstatus $9,000
36. 1986-07-01
    soldstatus $745,500
37. 1983-09-01
    soldstatus $745,500
38. 1979-08-06
    soldstatus $999,999

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥88°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,581
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − Depreciation: −$1,745
• Taxable income: $10,142
• Est. tax owed @ 24.0%: −$2,434
• After-tax cash flow: $8,059/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): 27,815
• Household income: $74,402
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1396.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 10% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4% 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: ▼ -544.07%
• Current HPI: 276.2139
• Rent YoY: ▲ 0.11%
• 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

-94.0% since first listed

23 events — show timeline

• 2026-05-17 Price Changed $60,000 REColorado as Distributed by MLS Grid
• 2026-03-31 Listing Removed — REColorado as Distributed by MLS Grid
• 2026-02-09 Listed $65,000 REColorado as Distributed by MLS Grid
• 2026-01-05 Price Changed $74,900 REColorado as Distributed by MLS Grid
• 2025-10-23 Price Changed $80,000 REColorado as Distributed by MLS Grid
• 2025-09-13 Listed $95,000 REColorado as Distributed by MLS Grid
• 2024-07-22 Listing Removed — REColorado as Distributed by MLS Grid
• 2024-06-06 Listed $115,000 REColorado as Distributed by MLS Grid
• 2024-05-31 Listing Removed — REColorado as Distributed by MLS Grid
• 2024-04-22 Listed $125,000 REColorado as Distributed by MLS Grid
• 2022-07-13 Sold (MLS) $78,000 REColorado as Distributed by MLS Grid
• 2022-05-18 Pending — REColorado as Distributed by MLS Grid
• 2022-05-06 Relisted — REColorado as Distributed by MLS Grid
• 2022-05-04 Pending — REColorado as Distributed by MLS Grid
• 2022-04-29 Listed $100,000 REColorado as Distributed by MLS Grid
• 2022-04-28 Coming Soon $100,000 REColorado as Distributed by MLS Grid
• 2005-04-25 Sold (Public Records) $2,490,000 Public Records
• 1997-05-27 Sold (Public Records) $8,500 Public Records
• 1996-05-13 Sold (Public Records) $999,999 Public Records
• 1994-07-15 Sold (Public Records) $9,000 Public Records
• 1986-07-01 Sold (Public Records) $745,500 Public Records
• 1983-09-01 Sold (Public Records) $745,500 Public Records
• 1979-08-06 Sold (Public Records) $999,999 Public Records

Property tax history

-3.8%/yr

Latest (2024): $9,086 · +1.0% YoY. Source: county tax records.