(*Photo From:

The Colorado Springs real estate market offers more than just single family homes for sale. In fact, there are some great opportunities to buy a home AND make some monthly income in the process.

If you are thinking of buying a home in Colorado Springs, have you ever considered buying a duplex?

Buying a duplex in Colorado Springs could give you the opportunity to live in one side, and rent out the other side. The rent from the other side can cover part of your mortgage payment, offering you a great opportunity to build equity AND have lower monthly expenses.

Right now (November 2011) there are 26 Duplexes for Sale in and around Colorado Springs. Prices range from $69,900 to $325,000 and rents range from $350 per unit to over $1,675 per unit. (Unit = one half of a duplex.) Some duplexes are 1 bed 1bath units, while others can be 3 bed 2bath units with private garages. It all depends on where in town you are buying and how old the duplex is.

Most duplexes in Colorado Springs can be found in the central/downtown part of town, but you will also find quite a few for sale in Old Colorado City (west Colorado Springs) and the Southwest part of town (near Fort Carson).

If buying a duplex in Colorado Springs sounds interesting, and you would like to know more about what kind of financing is available for duplexes, you can call us and we will direct you to a lender that can help you get approved: 719.434.7525

If you are interested in searching for Duplexes for sale in Colorado Springs, check out our Residential Colorado Springs Income Property Search [BELOW]. This search will include all types of residential income property for sale in Colorado Springs, including (but not limited to) duplexes.

Colorado Springs Income Property for Sale

Showing properties 1 - 5 of 83. See more Income Property.
(all data current as of 2/3/2012)

1. $258,000 : 2107 Preuss Rd, Colorado Springs
   
   0 beds, 0 baths

   Lot size: 9,333 sq ft

   Listed with CommonWealth Investment Corp,
2. $66,300 : 615 Cooper Av, Colorado Springs
   
   0 beds, 0 baths

   Lot size: 7,200 sq ft

   Listed with Muldoon Associates, Inc.
3. $190,000 : 1524 Cooper Av 1524,1526, Colorado Springs
   
   0 beds, 0 baths

   Lot size: 7,601 sq ft

   Listed with Park Ave Properties of Co Spgs
4. $189,900 : 2607 Tremont St, Colorado Springs
   
   0 beds, 0 baths

   Lot size: 11,252 sq ft

   Listed with Encore Residential Realty
5. $225,000 : 513/515 W Bijou St, Colorado Springs
   
   0 beds, 0 baths

   Lot size: 9,500 sq ft

   Listed with Blue Lightning, Inc.

Listing information deemed reliable but not guaranteed. Read full disclaimer.

[This is s re-post from an article written here in 2008. All information has been updated to reflect current MLS data.]

Holland Park income property

Great 4-plex on westside. Newer energy-efficient vinyl windows throughout. Each unit is a 2 bed 1 bath. 2 units have newer carpet, paint and tiled kitchen, entry and bath. Fireplace in living room. Coin-op laundry w/50% shared revenue.
Plenty of off-street parking.

MLS#: 769717
Asking Price: $285,000

View more photos: 3950 Stonedike Drive Photos

**Please do NOT disturb the current tenants.**
To view this property or set up financing to purchase this property,
please contact the Wagner iTeam directly: (719) 434-8346

The Colorado Springs real estate market has seen a lot of shifting when it comes to home prices and affordability. Only recently have we seen this many homes for sale under $100,000.

Let’s think about this … on an FHA loan with 3.5% ($3,500) down, decent credit and a 4.25% 30-year fixed interest rate, a $100,000 house would cost you just $475 a month (P/I)*!!

Below are some of the 170+ available homes that are at or under $100k, in Colorado Springs.

Homes THIS affordable tend to sell quickly, regardless of condition. So, if you are looking to buy a home for yourself or purchase one as an investment, please contact us immediately so that we can schedule you in to see the homes before they go under contract.

You can reach us at 719.434.8346

*You would need to add property insurance, mortgage insurance and taxes to this amount, making the monthly payment go up about $100-$140 a month. And, of course, rates this low are BOUND to increase pretty soon …Call for details. 719.434.8346

Showing properties 1 - 5 of 263. See more Homes Under $100k.
(all data current as of 2/3/2012)

1. $62,000 : 2902 Airport Rd 118, Colorado Springs
   
   2 beds, 2 full baths

   Home size: 1,191 sq ft

   Lot size: 588 sq ft

   Listed with Sellstate Alliance
2. $76,500 : 3309 N Institute St, Colorado Springs
   
   3 beds, 1 full bath

   Home size: 984 sq ft

   Lot size: 9,000 sq ft

   Listed with Westfall & Co. Mktng & Mgmt Gr
3. $94,900 : 3364 Queen Anne Wy, Colorado Springs
   
   2 beds, 3 full baths

   Home size: 1,682 sq ft

   Lot size: 636 sq ft

   Listed with Muldoon Associates, Inc.
4. $52,000 : 1116 Cree Dr, Colorado Springs
   
   2 beds, 2 full baths

   Home size: 1,950 sq ft

   Lot size: 1,956 sq ft

   Listed with ERA Herman Group Real Estate
5. $59,900 : 626 Prospect Lake Dr, Colorado Springs
   
   3 beds, 1 full bath

   Home size: 1,184 sq ft

   Lot size: 5,760 sq ft

   Listed with RealTeam Real Estate Ctr, Inc.

Listing information deemed reliable but not guaranteed. Read full disclaimer.

What is FHA?

According to the HUD website:

“FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.

• Low down payments
• Low closing costs
• Easy credit qualifying

What does FHA have for you?

Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.”

Click here to view the embedded video.

FHA and Investment Properties

Most people get an FHA loan to purchase a single family home, condo or townhome in Colorado Springs and  surrounding areas. However, you can take advantage of the great things that FHA loans offer in purchasing an investment property, too!

FHA loans cover single family homes, condos, town homes AS WELL AS duplexes, tri-plexes and 4-plexes!

Read Also:

• Investment Properties for sale in Colorado Springs and Surrounding Areas – Tri-Plexes andDuplexes
• Colorado Springs Duplexes for Sale – All Areas

FHA Investment Property Loan Limits

In El Paso County (which covers Colorado Springs, Monument, Manitou Springs and Fountain) here are the following loan limits for FHA:

• Single Family, Condo or Townhome:  $325,000
• Duplex:  $416,050
• Tri-Plex:  $502,900
• 4-Plex:  $625,000

MOST 2-4 plexes in Colorado Springs are currently* well under these limits, so now would be a great time to buy an investment property in Colorado Springs with an FHA loan.

For more information on Buying a Colorado Springs investment property, contact the Wagner iTeam: 719.434.7525

For more information on qualifying for an FHA loan, contact Trace Lee, with Bank of America: 719.314.6032

*Prices as of 7/11/2009.

>> Search All Duplexes for Sale in Colorado Springs and Surrounding Areas <<

>> Search All Tri-Plexes and 4-Plexes for Sale in Colorado Springs and Surrounding Areas <<

Colorado Springs investment properties for sale can be a great way to take advantage of the affordable home prices and invest in the local and current real estate market. Tri-Plexes and 4-Plexes are a great opportunity to buy a property where the “rental risk” is spread out over more than just one or 2 units. Basically, if one unit is vacant in a 4-plex – that is just 1/4th of the total payment – compared to 100% (if you are a landlord of a single family home) or 50% (for a duplex).

Check Out:  Colorado Springs Duplexes for Sale – All Areas

Some people buy Colorado Springs investment properties as a way to save for their children’s college: any rents over the mortgage amount go toward savings, and when it comes time for the kid to go to college, they either sell (or refinance) the property and use the equity to pay tuition.

We know a few folks who did this, but instead of selling their 4-plex, they just refinanced it and moved their local-college-attending “College Kid” into one of the units. He helped maintain the property and had a place to live (away from Mom and Dad) that was WAY cheaper than renting somewhere else.

Below is an internal Colorado Springs MLS website that shows ALL available 3-plexes and 4-plexes for sale in Colorado Springs (and the surrounding areas of Monument, Fountain and Manitou Springs). These listings are updated 4x a day, every day, to ensure pricing and availability accuracy.

If you have any questions about any of these investment properties, please contact us at: 719.434.7525

Happy tri-plex and four-plex searching!

To view all the properties, click on the blue “Investment Properties” link below:

Click here to view the embedded video.