Property Deal Analysis Overview
This deal highlight shows a recently listed multi-family property on the MLS. This will give an example of an “off-the-shelf” multi-family rental property for purchase.
This property is available.
- Listen to the podcast “#196: Deal Analysis – Colorado Springs Fourplex West Side” on the Denver Real Estate Investing Podcast
- Watch the YouTube video (at the bottom.)
- Read the blog post. Note, the blog is an executive summary. Get the in-depth breakdown from the podcast or video.
Read about the State of the Market for Colorado Springs real estate Q3 2020.
Deal Quadrant: MLS
Read about the deal quadrant and finding Denver Investment Properties.
Investment Property Details
- Type: Four-plex
- Two x 2 bedroom, 1 bathroom units
- Two x 3 bedroom, 1 bathroom units
- Location: West Side
- List Price: $620,000
- Why we like it:
- Amazing rents in place
Agent Property Description Remarks: West side great location for an investment. Highly desired area …The configuration is set up for high rents…Owner pays for gas, sewer and water, common electric and trash. Units are individually metered for electric and tenants pay electric.
Spreadsheet Rental Analysis
Property Operating Expenses
First Year Returns
This is a really decent property! Per the listing agent, the average owner utility costs are $400 per month. Further, one of the units is vacant, but we can assume the $995 for the vacant unit’s rent, which is a fair rent given that the West Side continually commands high rents in comparison to the rest of the Springs. For a first year ROIQ reflecting 32% return, this is an easy win.