120 Winters Dr · Colorado Springs, CO 80907

$45,000

2 bd · 1.0 ba · 3,168 sqft · Land public records · 23 Days on market

Built 1966

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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 MLS

WALK RIGHT IN AND YOU ARE HOME!!! Picture yourself in this super cozy 2 bed 1 bath home in the Panoramic Mobile Home Court located in a 55+ community. Featuring covered parking and a fully covered picturesque patio area. You can fully enjoy your morning coffee or imagine grilling your dinner while taking in the beautiful breathtaking Colorado Mountain views. It is outdoor living at it's best! Relax in your spacious living room area and take advantage of the full size kitchen with all the cooking space you would possibly need. This home is complete with everything including all kitchen appliances plus washer and dryer and completely furnished as you see it. Enjoy the all new flooring throughout the entire home! Yes! All new!!! You will sleep soundly in the spacious primary bedroom knowing that you chose the very best place to live. You will see that this home has really been well cared for, plus, you have the benefit of a professionally managed and well-maintained park which provides a great environment for easy living and is located literally near anything you could possibly need or want. You are very near the Garden of the Gods, Old Colorado City and Manitou. You are near the I-25 corridor which will take you up and down the front range and you are also near downtown Colorado Springs. Located less than .25 mile from the bus stop. Plus, it is conveniently located near parks, shopping, all types of dining, banking, and coffee shops. Storage shed also included. What more could you need. Schedule a showing today!

Key facts

• Peaceful park
• Clean park
• Managers onsite

Tags

• RAMP TO FRONT DOOR
• MANAGERS ONSITE
• CLEAN PARK
• QUIET PARK
• PEACEFUL PARK

Property features AI

Finance

• Other: No additional amenities provided
• Financial info: No financial details provided
• HOA & community: No HOA details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: No utility details provided
• Home design: Built in 1966
• Construction: Living area approximately 636; No construction materials, roof, or foundation details provided
• Exterior features: Located in the Northeast Colorado Springs subdivision

Interior

• Kitchen: No kitchen details provided
• Bedrooms: No bedroom details provided
• Flooring: No flooring details provided
• Bathrooms: No bathroom details provided
• Heating & cooling: No heating or cooling details provided
• Laundry & utility: No laundry or utility details provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $45k.

Deal economics

• At list price, monthly cash flow is $999 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 32.9% 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 flat; 192 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $311 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 + 0.1% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.68% ✓
• Cap rate: 32.93%
• Cash-on-cash: 95.13%
• DSCR: 5.23
• GRM: 2.3

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: 92.7%
• Equity multiple: 5.10×
• Total profit: $51,667
• Equity at exit: $6,710

10-year hold

• IRR: 95.0%
• Equity multiple: 9.64×
• Total profit: $108,864
• Equity at exit: $3,891

Cash invested: $12,600 (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: 192
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,658 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $999

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 35%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2739 Straus Ln Colorado Springs, CO	3.0	2.0	2204	$2,395	$1.09	3d	1	1.40mi

Listing history 32 events

1. 2026-06-18
   days on market $45,000 Active 23 DOM
2. 2026-06-17
   days on market $45,000 Active 22 DOM
3. 2026-06-16
   days on market $45,000 Active 21 DOM
4. 2026-06-15
   days on market $45,000 Active 20 DOM
5. 2026-06-14
   days on market $45,000 Active 18 DOM
6. 2026-06-10
   days on market $45,000 Active 15 DOM
7. 2026-06-09
   days on market $45,000 Active 14 DOM
8. 2026-06-08
   days on market $45,000 Active 13 DOM
9. 2026-06-07
   days on market $45,000 Active 12 DOM
10. 2026-06-05
    days on market $45,000 Active 9 DOM
11. 2026-06-03
    days on market $45,000 Active 8 DOM
12. 2026-06-03
    days on market $45,000 Active 7 DOM
13. 2026-06-01
    days on market $45,000 Active 6 DOM
14. 2026-05-31
    days on market $45,000 Active 5 DOM
15. 2026-05-26
    listed $45,000 Active
16. 2025-04-25
    soldstatus $49,900 Closed 1535-char remark

    Show marketing remark (1535 chars)

    WALK RIGHT IN AND YOU ARE HOME!!! Picture yourself in this super cozy 2 bed 1 bath home in the Panoramic Mobile Home Court located in a 55+ community. Featuring covered parking and a fully covered picturesque patio area. You can fully enjoy your morning coffee or imagine grilling your dinner while taking in the beautiful breathtaking Colorado Mountain views. It is outdoor living at it's best! Relax in your spacious living room area and take advantage of the full size kitchen with all the cooking space you would possibly need. This home is complete with everything including all kitchen appliances plus washer and dryer and completely furnished as you see it. Enjoy the all new flooring throughout the entire home! Yes! All new!!! You will sleep soundly in the spacious primary bedroom knowing that you chose the very best place to live. You will see that this home has really been well cared for, plus, you have the benefit of a professionally managed and well-maintained park which provides a great environment for easy living and is located literally near anything you could possibly need or want. You are very near the Garden of the Gods, Old Colorado City and Manitou. You are near the I-25 corridor which will take you up and down the front range and you are also near downtown Colorado Springs. Located less than .25 mile from the bus stop. Plus, it is conveniently located near parks, shopping, all types of dining, banking, and coffee shops. Storage shed also included. What more could you need. Schedule a showing today!

17. 2025-04-20
    status Pending 1535-char remark

    Show marketing remark (1535 chars)

    WALK RIGHT IN AND YOU ARE HOME!!! Picture yourself in this super cozy 2 bed 1 bath home in the Panoramic Mobile Home Court located in a 55+ community. Featuring covered parking and a fully covered picturesque patio area. You can fully enjoy your morning coffee or imagine grilling your dinner while taking in the beautiful breathtaking Colorado Mountain views. It is outdoor living at it's best! Relax in your spacious living room area and take advantage of the full size kitchen with all the cooking space you would possibly need. This home is complete with everything including all kitchen appliances plus washer and dryer and completely furnished as you see it. Enjoy the all new flooring throughout the entire home! Yes! All new!!! You will sleep soundly in the spacious primary bedroom knowing that you chose the very best place to live. You will see that this home has really been well cared for, plus, you have the benefit of a professionally managed and well-maintained park which provides a great environment for easy living and is located literally near anything you could possibly need or want. You are very near the Garden of the Gods, Old Colorado City and Manitou. You are near the I-25 corridor which will take you up and down the front range and you are also near downtown Colorado Springs. Located less than .25 mile from the bus stop. Plus, it is conveniently located near parks, shopping, all types of dining, banking, and coffee shops. Storage shed also included. What more could you need. Schedule a showing today!

18. 2025-03-14
    listed $49,900 Active 1535-char remark

    Show marketing remark (1535 chars)

    WALK RIGHT IN AND YOU ARE HOME!!! Picture yourself in this super cozy 2 bed 1 bath home in the Panoramic Mobile Home Court located in a 55+ community. Featuring covered parking and a fully covered picturesque patio area. You can fully enjoy your morning coffee or imagine grilling your dinner while taking in the beautiful breathtaking Colorado Mountain views. It is outdoor living at it's best! Relax in your spacious living room area and take advantage of the full size kitchen with all the cooking space you would possibly need. This home is complete with everything including all kitchen appliances plus washer and dryer and completely furnished as you see it. Enjoy the all new flooring throughout the entire home! Yes! All new!!! You will sleep soundly in the spacious primary bedroom knowing that you chose the very best place to live. You will see that this home has really been well cared for, plus, you have the benefit of a professionally managed and well-maintained park which provides a great environment for easy living and is located literally near anything you could possibly need or want. You are very near the Garden of the Gods, Old Colorado City and Manitou. You are near the I-25 corridor which will take you up and down the front range and you are also near downtown Colorado Springs. Located less than .25 mile from the bus stop. Plus, it is conveniently located near parks, shopping, all types of dining, banking, and coffee shops. Storage shed also included. What more could you need. Schedule a showing today!

19. 2025-03-11
    historical
20. 2024-12-14
    price $65,000
21. 2024-10-10
    listed $62,000 Active
22. 2024-06-28
    historical
23. 2024-06-28
    soldstatus $853,000 Sold
24. 2024-05-13
    historical Under Contract - Showing
25. 2024-05-08
    price $845,000
26. 2024-03-30
    price $895,000
27. 2023-08-28
    listed $945,000 Active
28. 2023-03-31
    soldstatus $65,000 Closed
29. 2023-02-21
    status Pending Accepting Backup Offers
30. 2023-02-07
    price $65,000
31. 2022-12-21
    listed $74,900 Active
32. 2008-01-14
    soldstatus $2,000,000

ⓘ 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 6/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥89°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: $19,897
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − Depreciation: −$1,309
• Taxable income: $11,984
• Est. tax owed @ 24.0%: −$2,876
• After-tax cash flow: $9,111/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

-97.8% since first listed

18 events — show timeline

• 2026-05-26 Listed $45,000 FSBO.com
• 2025-04-25 Sold (MLS) $49,900 REColorado as Distributed by MLS Grid
• 2025-04-20 Pending — REColorado as Distributed by MLS Grid
• 2025-03-14 Listed $49,900 REColorado as Distributed by MLS Grid
• 2025-03-11 Listing Removed — REColorado as Distributed by MLS Grid
• 2024-12-14 Price Changed $65,000 REColorado as Distributed by MLS Grid
• 2024-10-10 Listed $62,000 REColorado as Distributed by MLS Grid
• 2024-06-28 Delisted — elevateMLS
• 2024-06-28 Sold (MLS) $853,000 elevateMLS
• 2024-05-13 Contingent — elevateMLS
• 2024-05-08 Price Changed $845,000 elevateMLS
• 2024-03-30 Price Changed $895,000 elevateMLS
• 2023-08-28 Listed $945,000 elevateMLS
• 2023-03-31 Sold (MLS) $65,000 REColorado as Distributed by MLS Grid
• 2023-02-21 Pending — REColorado as Distributed by MLS Grid
• 2023-02-07 Price Changed $65,000 REColorado as Distributed by MLS Grid
• 2022-12-21 Listed $74,900 REColorado as Distributed by MLS Grid
• 2008-01-14 Sold (Public Records) $2,000,000 Public Records

Property tax history

-4.2%/yr

Latest (2024): $4,080 · +1.0% YoY. Source: county tax records.