Selected for the Terner Labs Housing Venture Lab

626 Mystic Avenue, Canon City, CO 81212

Active
Listed 120 days ago
Owner-Occupant Eligible
$255,000

About $718 a month to live here, after the rent from the other home.

House + ADU1,320 sqft4 beds2 bathsListed Jul 15, 2026

A house with a second home on the lot. Live in one and rent out the other. How it works

Live here for about

$718a month

The second home on the lot rents for $1,100. We hold back $215 of that for repairs and an empty month, and the rest goes toward a $1,603 monthly payment.

Income to qualify: about $35,000 a year

With how much down?

At 20% down ($51,000) and 6.0%, 30-year fixed. Your rate and down payment change this.

Get rich slow: keep this loan ten years and the payments pay off about $33,000 of it. See the ten-year math

See which homes fit your numbers
How we work this out

The cost to live here is the loan payment, taxes, insurance and any dues, less the rent, with a little held back for repairs and an empty month. Income to qualify uses a 43% debt-to-income limit, counts 75% of the rent, and none of your other debts.

$7,650 minimum down payment. The cost above is at 20% down, and at the minimum it is higher. Set your own

ABOUT THIS HOME

This versatile Cañon City property offers a spacious main residence plus a detached approximately 600-square-foot accessory dwelling unit, creating an excellent opportunity for owner-occupants, multigenerational living, or rental income. The detached unit includes 1 bedroom, 1 bathroom, a full kitchen, a tankless water heater installed approximately six years ago, and has a proven rental history of approximately $1,100 per month. The main home offers approximately 2,900 square feet with 4 bedrooms and a functional floor plan with generous living space. The updated kitchen features slate-blue and white cabinetry, granite countertops, and stainless steel appliances. Some interior photos have been virtually staged to illustrate the home's potential. The property has seen numerous recent updates and repairs, adding value and peace of mind. Improvements include newer windows installed approximately six years ago, recently repaired stucco, and a fully paid-off solar panel system that helps keep utility costs low. Situated on a 0.18-acre lot, the property offers a large double carport, a detached storage shed/workshop on a concrete slab, a raised deck with a pergola, and a private swim spa. Conveniently located in an established neighborhood, you'll enjoy easy access to shopping, schools, and everyday amenities, while remaining within a reasonable drive of Colorado Springs. Cañon City is also known for its abundance of outdoor recreation, including hiking, mountain biking, rafting, fishing, rock climbing, and access to the Arkansas River, making this property an excellent choice for those seeking both convenience and an active Colorado lifestyle.

House + ADU

Property Type

8,276 sqft

Lot Size

1948

Year Built

Listing Date: 07/15/2026

Listed by: Erick Passmore

Listing office: Century 21 Community First

Contact: 614-440-9031

Source: REcolorado #3764888

Series Homes is committed to full compliance with the Fair Housing Act and the Equal Credit Opportunity Act.

CHOOSE YOUR UNIT

Tap the one you would live in. The rest pay rent, and that rent comes off your monthly cost.

If someone lives in the unit you want, or a lease comes with the home, ask how moving in works on this one.

CHECK OUR MATHEvery line of the monthly cost is in here. Change the price or the down payment and watch it move.

OFFER PRICE

Change your offer and watch the monthly cost move.

Purchase Price

-15%
$255,000

List Price

+15%

FINANCIALS

How much do you want to put down?

Purchase price$255,000
Your Down Payment$51,000
Financed$204,000
Estimated Monthly Payment$1,603

Before rent: principal and interest at 6.0% on a 30-year fixed loan, taxes, insurance and any HOA dues. Your rate and down payment change this.

MONTHLY BREAKDOWN

Estimate at 20% down ($51,000) and 6.0%, 30-year fixed. Your rate and down payment change this.

Current Rent
Estimated Monthly Payment (Before Rental Income)
$1,603/month
Principal + Interest
$1,223
Property Taxes
$149
Home Insurance
$231
Rental Income (1 Unit)
$1,100/month

From the listing description.

Rental Expenses
-$215
Cost to live here
$718/month

Payment estimates shown by Series are illustrative only. Final loan terms, monthly payments, and eligibility will be determined by your mortgage loan originator.

BEFORE YOU OFFER

Now run it on your paycheck.

This page is priced at one down payment and one rate. Send the address and we run it at yours: what you would pay each month after rent, and which loan works on this home.

Free. No credit pull.

REcolorado logo

MLS# 3764888 · Listing office: Century 21 Community First

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