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$1,800,000

For Sale - Active
5800 Elk View Ct, Larkspur, CO 80118
4 Beds
3 Baths
3,164 Square Feet
36.31 Acres Lot
Built in 2020
For Sale - Active
Units n/a
Checked: 20 hours ago
Updated: Jun 12, 2025 at 03:05AM

Investment Summary


Monthly Cash Flow
-$6,281
Cap Rate
1.5%
Cash-on-Cash Return
-18.2%
Debt Coverage Ratio
0.26
Internal Rate of Return (5 years)
-13.6%

Property Description


36.31 Acres Lot
Built in 2020
For Sale - Active
Units n/a

Live the dream in Bear Dance, a prestigious gated golf course community! This custom ranch home offers ultimate privacy on a secluded 36+ acre lot, surrounded by pines. Inside, discover impressive views from every window, vaulted ceilings, hickory hardwood floors, and abundant natural light. The open-concept design connects the family room (with stone fireplace and deck access), dining room, and gourmet kitchen – truly an entertainer's dream. The chef's kitchen boasts dark wood cabinets, GE Cafe appliances, and granite countertops. The luxurious primary suite features an ensuite 5-piece bath and walk-in closet. A flexible office can serve as a third main-floor bedroom. The upper level provides a large loft, fourth bedroom, and third bath – ideal for hobbies, a home business, or guests. An unfinished walkout basement offers vast potential with an 8-foot garage door for easy access. The oversized 4-car garage provides both extra depth for your long truck and width for extra storage. Enjoy the added benefit of wildlife year-round with the conservation easement, preserving the natural surroundings and wildlife. Experience the best of both worlds: serene, private living combined with the exclusive lifestyle of a premier golf course community, conveniently located near Castle Rock and Monument.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Concrete, Oversized, Storage, Attached
  • Garage Spaces: 4
  • Spaces Total: 4

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 13
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Bath/Stubbed, Unfinished, Walk-Out Access
  • Fireplace: Yes

Exterior Features

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

HOA

  • Has HOA: Yes
  • Association: Bear Dance
  • HOA Fee: $600/annually

Land Information

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

Lot Information

  • Parcel ID: R0445795
  • Lot Size: 1581663 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Mountain Contemporary
  • Year Built: 2020

Tax Information

  • Annual Tax: $8,987

Utilities

  • Water & Sewer: Private, Well
  • Heating: Floor Furnace
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Douglas

Listing Details


Listed by:
Deidra Christensen
HomeSmart
(720) 849-1092

Source:
REColorado
MLS#: 6725508
REColorado

Investment Summary


Monthly Cash Flow
-$6,281
Cap Rate
1.5%
Cash-on-Cash Return
-18.2%
Debt Coverage Ratio
0.26
Internal Rate of Return (5 years)
-13.6%

Purchase Details

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Purchase price:
$1,800,000
Amount financed:
-$1,440,000
Down payment:
$360,000
Closing costs:
$54,000
Rehab costs:
$0
Initial cash invested:
$414,000
Square feet:
3,164
Cost per square foot:
$569
Monthly rent per square foot:
$1.39

Financing Details

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Loan amount:
$1,440,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$8,518
Property tax:
$749
Insurance:
$308
Private mortgage insurance (PMI):
$0
Monthly payment:
$9,575

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,400 $52,800
Vacancy loss: (6%)
6% -$264 -$3,168
Operating income:
$4,136 $49,632

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$749-$8,987
Insurance: (7%)
7%-$308-$3,696
Property management: (8%)
8%-$352-$4,224
Repairs & maintenance: (5%)
5%-$220-$2,640
Capital expenditures: (5%)
5%-$220-$2,640
HOA fees: (1%)
1%-$50-$600
Total operating expenses: (43%)
43%-$1,899-$22,787

Cash Flow


Monthly Yearly
Net operating income:
$2,237 $26,844
Mortgage payments:
-$8,518 -$102,216
Cash flow:
$6,281 $75,372