She Sold It Better Than I Could

I've toured a lot of houses. Written a lot of listing descriptions. And I can tell you — no pitch I've ever written landed quite like this one.

My daughter tagged along on a showing for an investment property in downtown Colorado Springs. Three bedrooms. Two kitchens. An upstairs unit that's completely separate and rent-ready. Listed at $150,000.

She covered the kitchen. The rental potential upstairs. The fact that grandma could visit. She even mentioned making s'mores. And then she closed with: "You want it? Call my mommy."

Honestly? Flawless. But let me add what she left out — the part about why properties like this one are worth paying serious attention to.

What Two Kitchens Actually Mean

In real estate, two kitchens usually signals one of a few things: a duplex, a mother-in-law suite, or a property with a separate accessory dwelling unit (ADU). Any of these configurations opens up a strategy called house hacking — and it's one of the most accessible ways to start building wealth through real estate.

The concept is simple: you buy the property, live in one unit, and rent the other. Your tenant's rent offsets your mortgage — sometimes significantly. In a market like Colorado Springs, where rental demand has stayed strong, the math can work well even at the entry level.

Why Downtown Location Changes the Math

Not all rental properties are equal, and location drives more of the return than almost any other factor. Downtown Colorado Springs has a few things going for it that matter to investors:

• Walkability. Restaurants, shops, and Pikes Peak views are all close. Renters pay a premium for that.
• Consistent demand. Downtown draws young professionals, military families rotating through Fort Carson, and remote workers who want to be near the action without suburban sprawl.
• Limited inventory of true multi-unit properties. Most of what comes up in the $150k–$250k range in Colorado Springs is single-family. A property with two functional kitchens and a separate upstairs unit at that price point is uncommon.
• Historic character. Downtown Colorado Springs has a mix of older homes with real bones — the kind that hold value and attract long-term tenants.

The Numbers at a Glance

The specific property from the video has been listed — reach out directly if you'd like details sent to you. But properties like it do surface in Colorado Springs, and the criteria worth searching for are consistent: two kitchens, separate entrance on the secondary unit, downtown or near-downtown location, under $200k.

How to Finance a Multi-Unit at This Price Point

FHA Loan (Owner-Occupant)

If you plan to live in one unit and rent the other, FHA is often the best path. You get 3.5% down, and lenders can count projected rental income from the second unit toward your qualification — which helps if your personal income is the limiting factor. This is also a legal way for first-time buyers to enter the investment property world without the larger down payment that pure investment loans require.

Conventional Owner-Occupant

If your credit score is 680+ and you want to avoid FHA mortgage insurance, a conventional loan with 5% down is possible on a two-unit owner-occupied property. The monthly payment is similar but you skip the FHA premium over time.

CHFA (First-Time Buyers)

If this would be your first home purchase, Colorado's CHFA program can layer on top of an FHA loan and cover some or all of the down payment. That means you could potentially get into this kind of property with very little cash at closing. Read the full CHFA breakdown here.

What to Look for When Touring

If you're seriously evaluating a multi-unit or house-hack property, here's what to focus on beyond the listing photos:

• Separate entrance for the rental unit. Shared entries work, but a private entrance commands higher rent and makes the arrangement more functional long-term.
• Separate utility meters. Ideally, each unit has its own electric and gas meter. If not, you'll need to factor shared utility costs into your rent calculations.
• Zoning confirmation. Confirm with the city that the second unit is legal and permitted, not a bootleg conversion. This matters for insurance, financing, and eventual resale.
• Condition of both kitchens. Each kitchen needs to be functional and up to code — not just presentable. Budget for what it would cost to bring either kitchen to rentable condition.
• Sewer and electrical. Older downtown properties in Colorado Springs often have aging infrastructure. A sewer scope and electrical inspection are worth the cost before you make an offer.