Income-Producing Duplex in Central
1309 Tappan Circle, Colorado Springs, CO 80909
MULTI_FAMILY - Colorado Springs, CO
Property size:
1,867 SFLot size:
0.19 AcresPrice / SF:
$238/SF- Added:
- May 21, 2026
- Days on Market:
- 13
- Last Refresh:
- Jun 2 at 3:06 am
Property Features for 1309 Tappan Circle
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-2
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2
- Parking
- 2
- Parking features
- Open, On Street, Garage - Attached
- Window features
- Vinyl Frames, Double Pane Windows
- Patio and Porch features
- Patio
- Interior features
- New Paint, Ceiling Fan(s)
- Appliances
- Dishwasher-All, Garbage Disposal-All, Refrigerator-All, Electric Range-All, Microwave Built-In-All, Range Hood-All, Washer-All, Dryer-All
- Standard status
- Active
- APN
- 6411203014
- Size
- 1,867 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- LOT 24 BLK 2 AUSTIN ESTATES SUB 5 FIL 2
- Tax Annual Amount
- 1315
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1965
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- New floor coverings
- Building materials
- Frame, Wood Siding, Copper Plumbing
- Roof type
- Composition
Listing agent Craig Johnson (719) 250-4974
Listing office Resident Realty CO (720) 933-8669
Listing date May 21, 2026
MLS# 240119
Listing URL
Copyright © 2026 Pueblo 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.
HighLights
- Income‑producing duplex with immediate cash flow from currently rented units.
- Prime central location near Palmer Park and Mitchell High School.
- Each unit has 2 bedrooms, 1 bath, private garage stall, in‑unit washer/dryer, and backyard access.
- Separate metering for water, electric, and gas for efficient management.
- Updated double‑pane vinyl windows and recent renovations in both units.
- Roof replaced in 2018.
Overview
This centrally located duplex is positioned near Palmer Park and Mitchell High School. Both units are currently rented, providing immediate cash flow. Each unit features a 2-bedroom, 1-bath layout, complete with a private garage stall, in-unit washer and dryer, and direct access to the backyard. The property offers spacious kitchens and dining areas, large bedrooms with generous closets, and abundant natural light throughout. Upgrades include updated double-pane vinyl windows and recent renovations in both units. The property is built for efficiency and flexibility, with separate metering for water, electric, and gas. A roof replacement was completed in 2018. The property is zoned R-2 and sits on a 0.193-acre lot. The property size is 1867 square feet. This duplex delivers location, stability, and upside in one package.
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 5.50%
Second Best
Apartment 5plus
$323.7K
$283.3K – $377.7K
NOI $22,662 @ 7.0% cap · market cap 5.09%
Theoretical Best
Specialty Retail
$368.7K
$322.6K – $430.2K
NOI $25,809 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplex
Apartment Complex
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.7497462
- Latitude
- 38.8513185
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Centrally located duplex near Palmer Park and Mitchell High School.
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 $445,000.
What are key features of this property?
This property features: Income‑producing duplex with immediate cash flow from currently rented units.; Prime central location near Palmer Park and Mitchell High School.; Each unit has 2 bedrooms, 1 bath, private garage stall, in‑unit washer/dryer, and backyard access.
