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$789,000

Under Contract
319 Summit Rd, Woodland Park, CO 80863
3 Beds
3 Baths
3,486 Square Feet
1.12 Acres Lot
Built in 1998
Under Contract
Units n/a
Checked: 10 hours ago
Updated: Jul 09, 2025 at 03:16AM

Investment Summary


Monthly Cash Flow
-$1,622
Cap Rate
3.2%
Cash-on-Cash Return
-10.7%
Debt Coverage Ratio
0.57
Internal Rate of Return (5 years)
-6.4%

Property Description


1.12 Acres Lot
Built in 1998
Under Contract
Units n/a

Beautiful Mountain Style Stucco 1.5 story home on over an acre with a spectacular Pikes Peak view from almost every room. Pride of ownership shows throughout, and this home is in "Move In Ready" condition. Floor plan has lots of character and a very attractive roof line. Huge open remodeled (2015) gourmet kitchen, with lots of birch cabinets and Beautiful leathered granite countertops, pull out drawers on lower cabinets, also included double ovens and a natural gas five burner cook-top as well as hardwood oak flooring, recessed lighting, gas fireplace and kitchen island. Must see!! Prow style living room filled with windows with powered blinds, and high ceilings, floor to ceiling stone surround the gas fireplace and make a great focal point. Two separate dining areas, an informal area is in the kitchen and the formal dining room has oak flooring and a large picture window. Spacious master bedroom has vaulted ceilings, covered privacy deck, gas fireplace and attached master bathroom with separate soaking tub/shower and natural light domes. Second bedroom is on the upper level and has a unique triangle dimension. Third bedroom is on the main level, is quite large and has an on suite full bath and has a sliding glass door to access the back deck. Large Main level laundry area. Walk-out basement features a great family room with a stone accent wall surrounding, wet bar, tongue and groove pine ceiling. Not included in the square footage is a large storage room off the west side of the basement, you would be hard pressed to fill it up. Three separate deck areas, side deck is wired for a hot tub and front deck is plumbed for the natural gas grill (also included). Two car attached finished garage. Circular paved driveway. Home is very low maintenance. New roof, stucco, windows and doors in 2019. Huge rock formations are found right on the property.

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Location


Property Details


Parking

  • Description: Attached Garage
  • Details: Attached
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 11
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Finished, Walk-Out Access
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Gable
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • Association: Rosewood Hills Property & HOA
  • HOA Fee: $50/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 3929.273020390
  • Lot Size: 48787 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1998

Tax Information

  • Annual Tax: $3,035

Utilities

  • Water & Sewer: Public
  • Heating: Forced Air, Natural Gas
  • Cooling: Ceiling Fan(s), None

Location

  • County: Teller

Listing Details


Listed by:
L. Brian Maecker
RE/MAX Advantage Realty Inc.
(719) 593-2963

Source:
REColorado
MLS#: 8210868
REColorado

Investment Summary


Monthly Cash Flow
-$1,622
Cap Rate
3.2%
Cash-on-Cash Return
-10.7%
Debt Coverage Ratio
0.57
Internal Rate of Return (5 years)
-6.4%

Purchase Details

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Purchase price:
$789,000
Amount financed:
-$631,200
Down payment:
$157,800
Closing costs:
$23,670
Rehab costs:
$0
Initial cash invested:
$181,470
Square feet:
3,486
Cost per square foot:
$226
Monthly rent per square foot:
$1.00

Financing Details

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Loan amount:
$631,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,734
Property tax:
$253
Insurance:
$245
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,232

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,500 $42,000
Vacancy loss: (6%)
6% -$210 -$2,520
Operating income:
$3,290 $39,480

Operating Expenses


% Rent Monthly Yearly
Property taxes: (7%)
7%-$253-$3,035
Insurance: (7%)
7%-$245-$2,940
Property management: (8%)
8%-$280-$3,360
Repairs & maintenance: (5%)
5%-$175-$2,100
Capital expenditures: (5%)
5%-$175-$2,100
HOA fees: (1%)
1%-$50-$600
Total operating expenses: (34%)
34%-$1,178-$14,135

Cash Flow


Monthly Yearly
Net operating income:
$2,112 $25,344
Mortgage payments:
-$3,734 -$44,808
Cash flow:
$1,622 $19,464