Selected for the Terner Labs Housing Venture Lab

3006 & 3014 Institute Street, Colorado Springs, CO 80907

Active
Listed 80 days ago
Owner-Occupant Eligible
$649,000

About $675 a month to live here, after the rent from the other homes.

Quadplex2,304 sqft8 beds4 bathsListed Aug 24, 2026

A fourplex. Live in one home and rent out the other three. How it works

Live here for about

$675a month

The other homes rent for $3,747. We hold back $731 of that for repairs and an empty month, and the rest goes toward a $3,691 monthly payment.

Income to qualify: about $69,000 a year

With how much down?

At 20% down ($129,800) 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 $85,000 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.

$32,450 minimum down payment. The cost above is at 20% down, and at the minimum it is higher. Set your own

ABOUT THIS HOME

3006 & 3014 North Institute Street presents an attractive multifamily investment opportunity consisting of two duplexes totaling four units and 2,304 square feet of building area in Colorado Springs. Built in 1954, this single-story property offers investors a straightforward four-unit configuration with an established residential setting and efficient building footprint. The two-duplex layout provides diversified rental income across four individual units each offering 2-Bedroom & 1-Bathroom units with 2 of 3 current rents at $1,295 per month per unit, while maintaining a manageable scale for both hands-on and professional ownership. The property benefits from its location in Colorado Springs, one of Colorado’s largest and most dynamic metropolitan areas. Residents enjoy convenient access to major employment centers, retail, dining, recreation, educational institutions, and regional transportation corridors. The surrounding area provides an established residential environment with access to the broader amenities and economic drivers such as Roadhouse Cinemas, Vasa Fitness etc that continue to support demand for rental housing throughout the Colorado Springs market. For investors, 3006 & 3014 North Institute Street offers an opportunity to acquire a compact multifamily asset with four individual income-producing units and potential for future value enhancement. The property is also an excellent fit for an owner-occupant, with one unit currently vacant and ready for immediate move-in. Live in one unit while generating rental income from the remaining units, providing an attractive opportunity to offset housing costs while building long-term equity. The combination of existing cash-flow potential, owner-occupant flexibility, and opportunities to enhance long-term income and value makes this asset well suited for both investors and buyers looking to house hack in Colorado Springs.

Quadplex

Property Type

1954

Year Built

Listing Date: 08/24/2026

Listed by: Lee Wagner

Listing office: Cushman & Wakefield

Contact: 417-459-2155

Source: REcolorado #2124802

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%
$649,000

List Price

+15%

FINANCIALS

How much do you want to put down?

Purchase price$649,000
Your Down Payment$129,800
Financed$519,200
Estimated Monthly Payment$3,691

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 ($129,800) and 6.0%, 30-year fixed. Your rate and down payment change this.

Estimated Monthly Payment (Before Rental Income)
$3,691/month
Principal + Interest
$3,113
Property Taxes
$127
Home Insurance
$451
Rental Income (3 Units)
$3,747/month

From the listing description.

Rental Expenses
-$731
Cost to live here
$675/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.

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MLS# 2124802 · Listing office: Cushman & Wakefield

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