The Lily
Single Family
4
2.5
4074
Sqft
2016
$505,000
Purchase Price
$2,395
Rent / Mo
61.7%
Property Leverage
How Are Monthly Dividends Determined for The Lily?
Properties start paying dividends once they start generating income and may vary month to month. The monthly dividend is determined by analyzing several factors, including rental status, the amount of cash in the property's reserves, last quarter's cash flow, projected expenses, and lease renewal timing. For more information on why dividends may be increased, decreased or paused, please see our detailed FAQ. The rental history and dividend payments for each property can be found on the performance tab.
About
The Lily is a beautiful 2-story craftsman style home in Colorado Springs. It offers 4 bedrooms, 2.5 bathrooms, and 4,074 square feet of very usable space, plus a large 2-car garage. Stainless steel appliances and a stylish backsplash in the kitchen and solar panels on the roof add modern touches while arched doorways and a large fenced back yard make this house a great home.
Tenant Leasing Process
The time needed to sign the first tenant lease is variable and can depend on several factors including seasonality and whether the property requires any sort of renovation. Historically the average time to lease has been 45 days and has ranged from a minimum of 7 days to over 90 days. For more details on each status, check out the different rental statuses here.
Rented
Rental Status
This property is eligible to start receiving dividends after its first lease is signed.
The Market
Colorado Springs, CO
The city of Colorado Springs has a population of 478,000 with over 755,000 in the metropolitan area, making it the second largest in Colorado.. The area has a large US military presence and is a hub for defense contractors and aerospace firms such as Boeing and Lockheed Martin. Colorado Springs is also home to the Olympic Training Center due to the high elevation of the area. The area is a popular tourist destination for hiking trails and beautiful outdoor scenery. There are several famous geographic landmarks in the area such as Pikes Peak and the Garden of the Gods.
Common Questions
Don't Know Which Property to Choose?
Other Questions?
100%
Funded
289
Investors
$243,760
Invested