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    1217 Custer Ave Colorado Springs, CO 80903

    View on Map
    Sponsored
    For Sale
    $969,900

    MULTI_FAMILY - Colorado Springs, CO

    Lot size:
    0.15 Acres
    Days on Market:
    13
    Last Refresh:
    Mar 17 at 1:06 am

    Property Features for 1217 Custer Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    Basement
    Crawl Space
    Lot size
    0.15 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    2025
    Roof type
    Shingle

    We can help!

    Listing Contact
    Jason Daniels CDPE CIAS CLHMS MRP

    RE/MAX Millennium (719) 622-6186

    Listing agent Jason Daniels CDPE CIAS CLHMS MRP (719) 999-8901

    Listing date Mar 4, 2026

    MLS# 6120741 Listing URL

    Copyright © 2026 Pikes Peak Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    New Duplex Near Patty Jewett

    This is a brand-new construction duplex located in the Patty Jewett area of central Colorado Springs, close to the Patty Jewett Golf Course and downtown restaurants, shops, parks, and trails. Pikes Peak views are visible from multiple windows. The property consists of two separate two-story homes connected by a shared storage wing. Each residence has its own driveway, private entrance, and large fenced patio. Each home features an open living, dining, and kitchen space with luxury vinyl plank flooring, recessed lighting, and a walkout to the patio. The kitchens offer quartz countertops, tile backsplash, stainless steel appliances including a gas range, a large center island with seating, and generous cabinet storage. Each home provides three bedrooms and multiple baths upstairs, including a private primary suite with walk-in closet and en-suite bath with double vanity and walk-in shower. Two additional bedrooms each have their own walk-in closet and share a full bath with double vanity and a separate tub/shower area. A dedicated upper-level laundry adds convenience. Each unit includes an oversized one-car attached garage and its own exterior storage room in the connector wing. Additional features include air conditioning, tankless water heaters, upgraded lighting, and energy-efficient construction. The property is located near Bonforte Park, Shooks Run Trail, and downtown. It offers options for owner-occupants, investors, or those seeking rental flexibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.805456
    Latitude
    38.850811

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    FAQs

    What type of property is this?
    Duplex - New construction duplex near golf course, downtown, and trails.
    Where is this duplex located?
    The property is located at 1217 Custer Ave Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $969,900.
    What are key features of this property?
    This property features: - Brand-new construction duplex in the desirable Patty Jewett area, close to downtown amenities and the historic Patty Jewett Golf Course.; - Designed as two separate two-story homes with private entrances, driveways, and fenced patios, offering a single-family feel.; - Each home features modern finishes, including QUARTZ COUNTERTOPS, STAINLESS STEEL APPLIANCES, luxury vinyl plank flooring, and upgraded lighting.
    (719) 999-8901
    Request Owner's contact information
    1217 Custer Ave Colorado Springs, CO 80903
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    Colorado Springs, CO 80903
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1217 Custer Ave Colorado Springs, CO 80903
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    We can help!
    Listing Contact
    Jason Daniels CDPE CIAS CLHMS MRP
    Real Estate License ID: 40033830
    (719) 999-8901 (719) 749-1790 (719) 999-8900
    Learn more
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