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    224 N Prospect St Colorado Springs, CO 80903

    For Sale
    $525,000

    MULTI_FAMILY - Colorado Springs, CO

    Lot size:
    0.13 Acres
    Days on Market:
    40
    Last Refresh:
    Dec 7 at 9:06 pm

    Property Features for 224 N Prospect St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Basement
    Crawl Space
    Lot size
    0.13 Acres

    Utilities

    Heating system
    Forced Air, Electric (Heating)
    Cooling system
    Ceiling Fan(s)

    Building Details

    Year built
    1900
    Roof type
    Shingle

    HomeSmart Realty Group (303) 858-8100 [email protected]

    Listing agent Megan Klos (813) 716-7531

    Listing date Oct 29, 2025

    MLS# 5968905 Listing URL

    Copyright © 2025 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.

    Overview

    Investment Property Near Downtown

    This investment property is located minutes from downtown. It features a main house with 2 bedrooms and 1 bathroom, along with a separate, turnkey cottage that includes 1 bedroom and 1 bathroom. Each residence has its own private front yard and dedicated parking. The cottage is move-in ready and can start producing revenue immediately. The property is located five minutes from downtown, providing a quick commute while maintaining a peaceful neighborhood feel. The lot size is 0.133 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Law Firm Clothing Store Building Supply 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
    -104.810751
    Latitude
    38.836677

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    FAQs

    What type of property is this?
    Single family property - Charming property with main house and separate turnkey cottage.
    Where is this single family property located?
    The property is located at 224 N Prospect St Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: - Two separate residences: a 2-bedroom house and a 1-bedroom cottage.; - Rental income potential from the move-in ready cottage.; - Convenient location: only five minutes from downtown.
    (813) 716-7531
    Request Owner's contact information
    224 N Prospect St Colorado Springs, CO 80903
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    Colorado Springs, CO 80903
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    Realmo Value Estimation

    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.

    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.

    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
    224 N Prospect St Colorado Springs, CO 80903
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