Cozy Home with Modern
711 N Spruce Street Colorado Springs, CO 80905
For Sale
$465,000
Pending
MULTI_FAMILY - Colorado Springs, CO
Property Size1,052 SF
Lot Size0.14 Acres
Days on Market48
Property Features for 711 N Spruce Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Basement
Crawl Space
Standard status
Pending
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
1158
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Ceiling Fan(s), Central Air
Building Details
Year built
1899
Roof type
Shingle
Listing Agency:
Exp Realty LLC
(888) 440-2724
Listed By:
Jennifer Jeffords EPRO LHC MRP
(303) 882-1191
Added: Jun 10
Changed: Jul 11
Last Checked: Jul 27 at 11:06AM
MLS# 7934396
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 property features a charming 2-bedroom, 1-bath home with 1,052 sq. ft. of living space, situated on a 6,000 sq. ft. lot. The main home combines classic charm with practical updates, creating a warm and inviting atmosphere. A newer additional dwelling unit (ADU), built in 2022, offers 2 bedrooms, 1 bathroom, and a versatile loft area. This ADU presents an opportunity for rental income, office space, or multi-generational living, with options for long-term tenants, short-term rentals, or a private suite for guests. Located minutes from Downtown Colorado Springs and Old Colorado City, the property is in a highly desirable area with high rental demand and easy access to I-25.
Key Highlights
- 2‑bedroom, 1‑bath home with 1,052 sq. ft. of living space on a 6,000 sq. ft. lot
- Built in 1899 main home with shingle roof; heating includes natural gas forced air and central air cooling
- On‑site 2022 ADU offers 2 bedrooms, 1 bathroom, plus a versatile loft area
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 | $20.8k | $19.80 |
| − Vacancy | −$1.1k | −$1.09 |
| EGI | $19.7k | $18.71 |
| − OpEx | −$5.9k | −$5.61 |
| NOI | $13.8k | $13.10 |
1,052 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$196.8K
$172.2K – $229.7K
NOI $13,779 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$182.4K
$159.6K – $212.8K
NOI $12,769 @ 7.0% cap · market cap 2.75%
Theoretical Best
Specialty Retail
$207.8K
$181.8K – $242.4K
NOI $14,543 @ 7.0% cap · market cap 3.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Charming home with income-generating ADU near downtown Colorado Springs.
Where is this duplex located?
The property is located at 711 N Spruce Street Colorado Springs, CO.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath home with 1,052 sq. ft. of living space on a 6,000 sq. ft. lot; Built in 1899 main home with shingle roof; heating includes natural gas forced air and central air cooling; On‑site 2022 ADU offers 2 bedrooms, 1 bathroom, plus a versatile loft area
