Income Duplex with Private
1309 Tappan Circle Colorado Springs, CO 80909
1309 Tappan Circle, Colorado Springs, CO, 80909
$444,000
For Sale
$444,000
Duplex with two 2-bedroom, 1-bath units, each with an in-unit washer/dryer and private garage stall.
Property Size1,867 SF
Price / SF$237.81
Days on Market70
Property Features for 1309 Tappan Circle
General Information
- Standard status
- Active
- Size
- 1,867 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1965
Listing Agency
Resident Realty North Metro LLC
(719) 250-4974
Listed by
Craig Johnson · License #100075935
(719) 250-4974
Source
Exitrealty
Added: May 9 Checked: Jul 17 at 3:48 am
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 Resident Realty North Metro LLC
Investment Insights
Based on property information with market context.
This income-producing duplex offers two separate, independently metered units, with each unit laid out as a 2-bedroom, 1-bath residence. Both units are currently rented and include private garage stall, in-unit washer and dryer, and direct access to the backyard. Interiors feature spacious kitchens and dining areas, large bedrooms with generous closets, and abundant natural light.
The property is located at 1309 Tappan Circle in Colorado Springs, positioned near Palmer Park and Mitchell High School. Recent updates include updated double-pane vinyl windows and renovations in both units. A roof replacement was completed in 2018.
With separate metering for water, electric, and gas, day-to-day management is streamlined and utility responsibility is clearer.
The property is located at 1309 Tappan Circle in Colorado Springs, positioned near Palmer Park and Mitchell High School. Recent updates include updated double-pane vinyl windows and renovations in both units. A roof replacement was completed in 2018.
With separate metering for water, electric, and gas, day-to-day management is streamlined and utility responsibility is clearer.
Key Highlights
- Income‑producing duplex built in 1965 with both units currently rented
- Two identical units: each offers 2 bedrooms, 1 bathroom, private garage stall, and in‑unit washer/dryer
- Each unit has direct access to the backyard
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.0k | $19.80 |
| − Vacancy | −$2.0k | −$1.09 |
| EGI | $34.9k | $18.71 |
| − OpEx | −$10.5k | −$5.61 |
| NOI | $24.5k | $13.10 |
1,867 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$349.3K
$305.7K – $407.6K
NOI $24,453 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$323.7K
$283.3K – $377.7K
NOI $22,662 @ 7.0% cap · market cap 5.10%
Theoretical Best
Specialty Retail
$368.7K
$322.6K – $430.2K
NOI $25,809 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplex
Apartment Complex
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex with two 2-bedroom, 1-bath units, each with an in-unit washer/dryer and private garage stall.
Where is this duplex located?
The property is located at 1309 Tappan Circle Colorado Springs, CO.
What is the asking price?
The asking price for this property is $444,000.
What are key features of this property?
This property features: Income‑producing duplex built in 1965 with both units currently rented; Two identical units: each offers 2 bedrooms, 1 bathroom, private garage stall, and in‑unit washer/dryer; Each unit has direct access to the backyard
