Updated Residential Income
For Sale
$289,000
4888 Kerry Lynn View, Colorado Springs, CO 80922
Residential Income, Colorado Springs, CO
Property Size1,222 SF
Lot Size0.02 Acres
Price / SF$236.50
Days on Market80
Property Features for 4888 Kerry Lynn View
General Information
Property type
Residential Multi Family
Property subtype
Other
Fireplace
1
Elementary school district
District 49
Middle school district
District 49
High school district
District 49
Standard status
Active
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1291
Utilities
Heating system
Forced Air
Cooling system
Central Air, Ceiling Fan(s)
Amenities
gated community
clubhouse
pool
exercise room
conference room
lounge
Building Details
Year built
2005
Roof type
Shingle
Listing Agency:
Better Homes and Gardens Real Estate Kenney & Company
(719) 550-1515
Listed By:
Pepper Byrne
(719) 460-1081
Added: Aug 5
Changed: Oct 16
Last Checked: Oct 23 at 1:06PM
MLS# 5623118
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.
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Investment Insights
Based on property information with market context.
This 2005 condominium offers 1,222 SF with two bedrooms, two full bathrooms, and an attached one-car garage. The open kitchen connects with the living room and includes granite countertops, stainless steel appliances, a breakfast bar, tile backsplash, pendant lighting, recessed lighting, and updated cabinetry. A private patio faces community green space. The residence also includes main-level laundry with the washer and dryer, central air, forced-air heating, a gas fireplace, high ceilings, wide hallways, and abundant natural light.
The gated community provides a two-story clubhouse with a pool, exercise room, conference room, lounge, deck, and kitchen. The property is within walking distance of a park with tennis courts and a children’s play area, and is minutes from Costco, Target, Town Center with IMAX theaters, Peterson SFB, restaurants, and shopping.
The gated community provides a two-story clubhouse with a pool, exercise room, conference room, lounge, deck, and kitchen. The property is within walking distance of a park with tennis courts and a children’s play area, and is minutes from Costco, Target, Town Center with IMAX theaters, Peterson SFB, restaurants, and shopping.
Key Highlights
- 1,222 SF condominium with two bedrooms and two full bathrooms
- Attached 1‑car garage with direct access to the residence
- Updated kitchen with granite counters, stainless steel appliances, and breakfast bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,833
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,660
$296.7K
Cap Rate 7%
$211,900
$211.9K
Cap Rate 9%
$164,811
$164.8K
Market Conditions
NOI Build-Up for 1,222 SF
Gross rent
$28.4K $23.28/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$27.0K $22.07/SF
− OpEx
−$12.1K −$9.93/SF
NOI
$14.8K $12.14/SF
Area
Colorado Springs, CO
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,660
Cap Rate 7%
$211,900
Cap Rate 9%
$164,811
Alternative Uses
Best Use
Apartment 5plus
$211.9K
$185.4K – $247.2K
NOI $14,833 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$241.3K
$211.2K – $281.6K
NOI $16,893 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
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Business Placement
Demographics for 80922, CO
29,392
Population
11,355
Households
2.6
Avg Household Size
34
Median Age
41%
College-Educated
96%
High-School Grad
5.8 sq mi
ZIP Area
5,068
Density / Sq Mi
$107,457
Median Household Income
$51,165
Median Earnings
$1,952
Median Rent
$407,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with open living areas, private patio access, and a gated community setting.
Where is this residential income property located?
The property is located at 4888 Kerry Lynn View Colorado Springs, CO.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 1,222 SF condominium with two bedrooms and two full bathrooms; Attached 1‑car garage with direct access to the residence; Updated kitchen with granite counters, stainless steel appliances, and breakfast bar
