Colorado Springs House Hacking - Best neighborhoods?

[Greg M.]

What are the best neighborhoods to invest in for house hacking by renting to other young professionals? Where do most young pros in the area work/commute to and like to hang out/socialize? (I'm newer to the Springs)

Looking to buy in COS in 2022. Late 20s single guy working at Peterson. Thinking house hacking would be the best real estate investment approach.

Budget 515k. I'm interested in living long-term in Broadmoor, Cheyenne Meadows, OCC, or Pleasant Valley with a hypothetical family but realize these may not be as good of locations for renting to young pros. But even still it might be nice to just get in to the neighborhood I want to be in long-term before prices keep rising further. 

Where do you suggest I direct my search?

Thanks in advance!

[James Carlson]

@Greg M.

All Colorado Springs areas you mentioned are great. In general, I think the downtown and west side (Old Colorado City) is where it's at. The east side has so much potential for sprawl that you might find people chasing the next new build as opposed to buying your 10-year-old property, whereas you've got the natural barrier to growth (the mountains) on the west side.

To your actual question, though ... man, it's tough to go wrong right now. (Okay, maybe not the total southeast corner of Colorado Springs.) We've got a client who's done a few house-hacks in Colorado Springs -- in the 80918 and 80917 area codes. He also just bought in the Cheyenne Mountain area and is now doing well there. We've also had a lot of clients buy just east of downtown Colorado Springs (Shooks Run, Old North End, Patty Jewitt, etc.) and Airbnb a basement to live rent free if you're open to short-term rentals.

My personal opinion? I'd buy where you want to live. It's likely going to be a place others want to live as well. A house with nice clean rooms, a clean kitchen and clean bathooms will attract $700-750/room easily or $1,000 if you have a room in a basement that kind of gives that roommate their own space.

Good luck!