Single-Family Home with Updated
For Sale
$279,000
4291 Deerfield Hills Road, Colorado Springs, CO 80916
MULTI_FAMILY - Colorado Springs, CO
Property Size1,188 SF
Lot Size0.11 Acres
Price / SF$234.85
Days on Market61
Property Features for 4291 Deerfield Hills Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school district
Harrison-2
Middle school district
Harrison-2
High school district
Harrison-2
Standard status
Active
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
908
Utilities
Heating system
Forced Air
Building Details
Year built
1970
Roof type
Shingle
Listing Agency:
The Innovative Group, LLC
(719) 749-1744
Listed By:
Tyler Hoerner
(719) 963-8779
Added: Jun 8
Changed: Jul 24
Last Checked: Aug 7 at 8:06AM
MLS# 8201355
Copyright © 2026 elevateMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-family home features 3 bedrooms and 1 bathroom within 1188 sq. ft. of living space. Situated on a cul-de-sac, the property includes a garage that has been converted into a versatile space suitable for an office or a potential fourth bedroom, awaiting finishing touches. The kitchen has been updated with new appliances, including a range/oven, dishwasher, and refrigerator. Further updates include a new furnace and a water heater that was replaced three years ago. Fresh interior and exterior paint complements the low-maintenance tile flooring throughout the home. The property is located near military bases, community centers, schools, parks, and shopping. The lot size is 0.107 acres.
Key Highlights
- 3‑bedroom, 1‑bath single‑family home with 1,188 sq. ft. of living space
- Garage converted to an office or potential 4th bedroom
- Updated kitchen with new range/oven, dishwasher, and refrigerator
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
$12,379
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
4.44%
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%
$247,580
$247.6K
Cap Rate 7%
$176,843
$176.8K
Cap Rate 9%
$137,544
$137.5K
Market Conditions
NOI Build-Up for 1,188 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
$25.5K $21.48/SF
− Vacancy
−$3.0K −$2.53/SF
EGI
$22.5K $18.95/SF
− OpEx
−$10.1K −$8.53/SF
NOI
$12.4K $10.42/SF
Area
ZIP 80916
Vacancy
11.80%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
45.00%
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%
$247,580
Cap Rate 7%
$176,843
Cap Rate 9%
$137,544
Alternative Uses
Best Use
Apartment 5plus
$176.8K
$154.7K – $206.3K
NOI $12,379 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$275.9K
$241.4K – $321.9K
NOI $19,313 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 80916, CO
39,990
Population
15,464
Households
2.6
Avg Household Size
30
Median Age
18%
College-Educated
88%
High-School Grad
18.4 sq mi
ZIP Area
2,173
Density / Sq Mi
$63,399
Median Household Income
$37,708
Median Earnings
$1,505
Median Rent
$289,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Comfortable home near amenities with versatile converted garage space.
Where is this single family property located?
The property is located at 4291 Deerfield Hills Road Colorado Springs, CO.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 3‑bedroom, 1‑bath single‑family home with 1,188 sq. ft. of living space; Garage converted to an office or potential 4th bedroom; Updated kitchen with new range/oven, dishwasher, and refrigerator
