506 W Cheyenne Rd, Colorado Springs, CO, 80906

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506 W Cheyenne Rd, Colorado Springs$950,000

Buyer Closing Credits

$10,000^*

1.25% Loan Amount

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1 (855) 200-2001

Property Highlights

Home TypeSingle Family Residence

ParkingAttached

Attached GarageYes

Year Built1954

HeatingForced Air, Natural Gas

CoolingNone, Other

BasementYes

FireplaceOne, Wood Burning

MLS #4815857

Lot Size0.50 Acres

StatusActive

About 506 W Cheyenne Rd

Thank you for your interest in this unique property in a desirable part of Colorado Springs. It is not uncommon to find a home with a cottage (ADU) on the lot, but it is rare to find a single-family home with a 4-plex and a second detached 2-car garage that can be rented out for cash flow. In the South half of the lot there is a 4-bedroom, 2-bath single-family home with two-car garage and huge fenced back yard and large front yard. In the rear of the lot, there is a 4-plex with four 1-bedroom, 1-bath units, a detached two-car garage and a large open space. Live in the front house and let the 4-plex rental units and detached garage fund your lifestyle, or rent out all five units, plus the detached garage to maximize cash flow.

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Property Details

Property Features

Property Information:

• Year Built: 1954
• Living Area: 2,379 SqFt

Listing Office:

• Office Name: The Rawhide Company
• Office Phone: (719) 598-3198
• Listing Agent: Douglas Barber C2EX CRB EPRO GRI REDS

Interior Features

Interior Information:

• Appliances: Range, Refrigerator
• Basement: Yes
• Fireplace: One, Wood Burning

Bedroom and Bathroom Information:

• Full Bathrooms: 2
• Total Bedroom Count: 4

Exterior Features

Exterior Information:

• Exterior: Other, See Remarks

Parking Information:

• Attached Garage: Yes
• Parking: Attached

Lot Features

Lot Information:

• Lot: Level
• Lot Size: 0.50 Acres

Utilities

Utilities Information:

• Heating: Forced Air, Natural Gas
• Cooling: None, Other

School Info

Assigned Schools Information:

• Cheyenne Mountain High School, Public District Grades 9-12
• Cheyenne Mountain Junior High School, Public District Grades 7-8
• Broadmoor Elementary School, Public District Grades KG-6

Price Information

Listing Price Info

Price Summary:

• List Price: $950,000
• Price Per SqFt: $399/SqFt

Tax Information:

• Annual Amount: $3,206
• Tax Year: 2020

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Housing Market Comparison

See how this home compares to others in Colorado Springs, CO.

Colorado Springs, CO

City

Med. Sold Price

$478K

Med. Price/SqFt

$237

Avg. Days On Market

35

# of Sold Homes

213

506 W Cheyenne Rd vs Colorado Springs

27 DAYS ON ROCKET

-8 Days

$950,000

+$472K More

$399/SqFt

+$161 More

KEY TAKEAWAY

This property is $472K more than the Median Sold Price and $161/SqFt more than other homes in Colorado Springs, CO.

Based on homes sold in August 2024

MLS Details

MLS Information:

• MLS Number: #4815857

Listing Office:

• Office Name: The Rawhide Company
• Office Phone: (719) 598-3198
• Listing Agent: Douglas Barber C2EX CRB EPRO GRI REDS

The real estate listing information and related content displayed on this site is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate by the Pikes Peak REALTOR® Services Corp.

Copyright © 2024 Pikes Peak Association of REALTORS® and PIKES PEAK REALTOR® Services Corp. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 9/16/2024, 2:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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Property Sales & Tax

Tax History

YEAR	PROP. TAX	ASSESSMENT
2020	$3,206	$44,670
2019	$2,675	$44,670
2018	$2,665	$37,010
2017	$2,373	$37,010

History based on county public records data.

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**Disclosures

Rocket Homes›Colorado›El Paso County›Colorado Springs›80906›506 W Cheyenne Rd

This home is located at 506 W Cheyenne Rd in Colorado Springs, CO and zip code 80906 in the Broadmoor neighborhood. This 2,379 square foot home, which was built in 1954, sits on a 0.50 acre lot. Features: 4 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since August 20, 2024 and is currently priced at $950,000.

While more than 53 listings in Colorado Springs, CO in August 2024 were sold above asking price, there were more than 59 listings sold at asking price, and more than 101 were sold below. The inventory of homes for sale in Colorado Springs, CO between July 2024 and August 2024 increased by 34.5%. In August 2024, listings were on the market for 35 days. During the same period, the median list price in this real estate market was $478,000.

From Rocket Homes Real Estate and based on county public records data.