Prospect Neighborhood Duplex Near
For Sale
$365,500
1113 E Cimarron St, Colorado Springs, CO 80910
Duplex in desirable location near downtown and Switchback Stadium.
Property Size1,400 SF
Lot Size0.11 Acres
Days on Market277
Property Features for 1113 E Cimarron St
General Information
Standard status
Active
Size
1,400 SF
Lot size
0.11 Acres
Property subtype
Other
Lease Term
Month-to-month
Taxes and HOA fees
Annual Taxes
$1,393
Building Details
Building Size
1,400 SF
Year Built
1915
Listing Agency:
Tradewind Real Estate LLC
(970) 568-8162
Listed By:
Michael Tilley · License #40022678
(970) 568-8162
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tradewind Real Estate LLC
Investment Insights
Based on property information with market context.
This duplex is located in the Prospect neighborhood, near Memorial Park and Prospect Lake. The location offers convenient access to downtown and the Switchback Stadium. The property features two units: a 2-bedroom unit leased through March 2026, and a 1-bedroom unit leased through July 2026. Each unit includes a washer and dryer. Interior finishes include granite, linoleum, tile, vinyl, and carpet, along with appliances.
Key Highlights
- Leased through March and July 2026, providing immediate rental income.
- Desirable Prospect neighborhood location near Memorial Park and Prospect Lake.
- Convenient access to downtown and Switchback Stadium.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,337
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$366,740
$366.7K
Cap Rate 7%
$261,957
$262.0K
Cap Rate 9%
$203,744
$203.7K
Market Conditions
NOI Build-Up for 1,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.7K $19.80/SF
− Vacancy
−$1.5K −$1.09/SF
EGI
$26.2K $18.71/SF
− OpEx
−$7.9K −$5.61/SF
NOI
$18.3K $13.10/SF
Area
Colorado Springs, CO
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$366,740
Cap Rate 7%
$261,957
Cap Rate 9%
$203,744
Alternative Uses
Best Use
Multifamily LT 5
$262.0K
$229.2K – $305.6K
NOI $18,337 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$242.8K
$212.4K – $283.2K
NOI $16,993 @ 7.0% cap · market cap 4.65%
Theoretical Best
Specialty Retail
$276.5K
$241.9K – $322.6K
NOI $19,354 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Explore this area
Business Placement
Demographics for 80910, CO
30,991
Population
13,940
Households
2.2
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
6.1 sq mi
ZIP Area
5,080
Density / Sq Mi
$56,681
Median Household Income
$37,110
Median Earnings
$1,299
Median Rent
$276,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex in desirable location near downtown and Switchback Stadium.
Where is this duplex located?
The property is located at 1113 E Cimarron St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $365,500.
What are key features of this property?
This property features: Leased through March and July 2026, providing immediate rental income.; Desirable Prospect neighborhood location near Memorial Park and Prospect Lake.; Convenient access to downtown and Switchback Stadium.
