Agent in CO Springs

[Chris Nelson]

Debating putting our SFR up for sale in CO Springs.

A few specs: 

SFR 3/2.5 and 2 car garage. Powers neighborhood. District 49 schools. Built in 1999

Current Cap rate 9%

Purchase price 184K (2009). Owe 163K. Estimated sale price 235K (based on other homes recently sold)

Thing is, we have moved to Florida and are considering re-investing the money here so we can be involved in the day to day property management. 

Would now a good time to sell in Colorado Springs? Why? or Why not? Living out of state we can do some research but can't get the real "feel" for what's happening. 

Thank you so much in advance!

[Aaron Moore]

Hey Chris Nelson , the mid-low $200's is a great price point in Colorado Springs right now, as inventory is still really low. Depending on the part of town and property condition, it should move pretty easily, and values are staying strong.

Just to clarify, I assume the 9% cap is at the price you paid, and not the projected $235K sale price? If that's at $235k, I have several buyers that would jump on it. If it's at your earlier purchase price the buyer will likely be owner-occupant.

If you want the most relevant and up to date comps I can pull those for you if you like.