Two-Unit
For Sale
$375,000
3308 N Hancock Ave, Colorado Springs, CO 80907
Residential income property with separate layouts for two households and a compact ownership profile.
Property Size1,152 SF
Price / SF$325.52
Days on Market50
Property Features for 3308 N Hancock Ave
General Information
Standard status
Active
Size
1,152 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Cragmoor
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1955
Listing Agency:
MODUS Real Estate
Listed By:
Andrew Stephens · License #100098946
(720) 496-8868
Source:
Teamuniteddenver
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 28 at 2:11PM
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 MODUS Real Estate
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Investment Insights
Based on property information with market context.
Built in 1955, this duplex contains two separate residential units, each arranged with two bedrooms and one bathroom. Together, the property provides four bedrooms and two bathrooms within a straightforward two-unit configuration. The 1,152-square-foot building offers distinct living spaces for each household and supports operation as a small residential income property.
Located at 3308 N Hancock Ave in Colorado Springs, the property is positioned in an established residential area with access to nearby retail, dining, employment centers, and major transportation routes. Its limited unit count creates a relatively simple configuration for ownership and management, while the separate residences provide flexibility for an owner occupant or a buyer seeking rental units.
Located at 3308 N Hancock Ave in Colorado Springs, the property is positioned in an established residential area with access to nearby retail, dining, employment centers, and major transportation routes. Its limited unit count creates a relatively simple configuration for ownership and management, while the separate residences provide flexibility for an owner occupant or a buyer seeking rental units.
Key Highlights
- Two separate residential units in one duplex
- Each unit includes 2 bedrooms and 1 bathroom
- 4 total bedrooms and 2 total bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,089
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,780
$301.8K
Cap Rate 7%
$215,557
$215.6K
Cap Rate 9%
$167,656
$167.7K
Market Conditions
NOI Build-Up for 1,152 SF
Gross rent
$22.8K $19.80/SF
− Vacancy
−$1.3K −$1.09/SF
EGI
$21.6K $18.71/SF
− OpEx
−$6.5K −$5.61/SF
NOI
$15.1K $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 Rate 5%
$301,780
Cap Rate 7%
$215,557
Cap Rate 9%
$167,656
Alternative Uses
Best Use
Multifamily LT 5
$215.6K
$188.6K – $251.5K
NOI $15,089 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$199.8K
$174.8K – $233.1K
NOI $13,983 @ 7.0% cap · market cap 3.73%
Theoretical Best
Specialty Retail
$227.5K
$199.1K – $265.4K
NOI $15,925 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,468
Businesses Nearby
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Business Placement
Demographics for 80907, CO
28,806
Population
13,250
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
93%
High-School Grad
9.8 sq mi
ZIP Area
2,939
Density / Sq Mi
$71,393
Median Household Income
$41,355
Median Earnings
$1,392
Median Rent
$371,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with separate layouts for two households and a compact ownership profile.
Where is this duplex located?
The property is located at 3308 N Hancock Ave Colorado Springs, CO.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two separate residential units in one duplex; Each unit includes 2 bedrooms and 1 bathroom; 4 total bedrooms and 2 total bathrooms
