Huge Potential! This home is zoned R-2 and can be used as single family home, use as primary home and rent out basement, duplex rental or airBnB. Home is located directly across beautiful Memorial Park and has lake views. This home has lots of space with 4 bedrooms with finished basement! 1 car enclosed garage with an additional covered car port. Long driveway also has room for recreational vehicle. Fully enclosed in fencing with chain linked fence in front yard and privacy fence in back yard. Main level has 2 living rooms, dining room, kitchen with new tile floors, large pantry, 2 bedrooms with original hardwood floors, full bathroom with new tile floors and 2nd living room has tile floors and wood burning fireplace. Basement has laundry room, large recreation room, 2 bedrooms and 3/4 bathroom. Walk to lake from front yard with your paddle board or kayak! Conveniently located near downtown Colorado Springs with easy access to I-25.
Sold for $386,000
$386,000
718 Prospect Lake Dr, Colorado Springs, CO 80910
4beds
2,226sqft
Single Family Residence
Built in 1955
5,998 Square Feet Lot
$375,000 Zestimate®
$173/sqft
$2,124 Estimated rent
Home value
$375,000
$356,000 - $398,000
$2,124/mo
Zestimate® history
Owner options
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$2,262/mo
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List your homeWhat's special
Lake viewsFinished basementBasement has laundry roomDining roomRoom for recreational vehicleLong drivewayLarge pantry
Zillow last checked:
Listing updated:
Listed by:
Paul Lee 719-291-2589,
RE/MAX Real Estate Group LLC
Bought with:
Paul Lee
RE/MAX Real Estate Group LLC
Source: elevateMLS,MLS#: 5206724
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 1
- 3/4 bathrooms: 1
Basement
- Area: 981
Heating
- Forced Air, Natural Gas
Cooling
- Ceiling Fan(s)
Appliances
- Included: Range
- Laundry: In Basement
Features
- Skylight (s)
- Flooring: Tile, Vinyl/Linoleum, Wood, Wood Laminate
- Windows: Window Coverings
- Basement: Full,Partially Finished
- Number of fireplaces: 1
- Fireplace features: One
Interior area
- Total structure area: 2,226
- Total interior livable area: 2,226 sqft
- Finished area above ground: 1,245
- Finished area below ground: 981
Property
Parking
- Total spaces: 1
- Parking features: Detached, Concrete Driveway
- Garage spaces: 1
Features
- Patio & porch: Covered, Enclosed, Other
- Fencing: Full,Front Yard,Back Yard
- Has view: Yes
- View description: City, Mountain(s)
- Waterfront features: Spring/Pond/Lake
Lot
- Size: 5,998 Square Feet
- Features: Level, Hiking Trail, Near Fire Station, Near Hospital, Near Park, Near Public Transit, Near Schools, No Landscaping
Details
- Additional structures: Storage
- Parcel number: 6420104005
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subtype: Single Family Residence
Materials
- Masonite, Frame
- Roof: Composite Shingle
Condition
- Existing Home
- New construction: No
- Year built: 1955
Utilities & green energy
- Water: Municipal
- Utilities for property: Electricity Connected, Natural Gas Connected, Phone Available
Community & HOA
Location
- Region: Colorado Springs
Financial & listing details
- Price per square foot: $173/sqft
- Tax assessed value: $430,322
- Annual tax amount: $1,356
- Date on market: 5/23/2025
- Listing terms: Cash,Conventional,FHA203K,VA Loan
- Electric utility on property: Yes
Price history
| Date | Event | Price |
|---|---|---|
| 7/3/2025 | Sold | $386,000-9.2%$173/sqft |
Source:  elevateMLS #5206724 Report a problem | ||
| 5/13/2025 | Pending sale | $425,000$191/sqft |
Source:  REcolorado as distributed by MLS GRID #1501693 Report a problem | ||
| 3/30/2025 | Listed for sale | $425,000+70%$191/sqft |
Source: elevateMLS #5206724 Report a problem | ||
| 10/1/2024 | Sold | $250,000$112/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $1,243 +5.2% | $28,830 |
| 2023 | $1,182 -7.9% | $28,830 +36.5% |
| 2022 | $1,283 | $21,120 -2.9% |
| 2021 | -- | $21,740 +26.9% |
| 2020 | $1,163 +0.5% | $17,130 |
| 2019 | $1,156 +31% | $17,130 +34.9% |
| 2018 | $883 -5.3% | $12,700 |
| 2017 | $932 +5.6% | $12,700 +2.6% |
| 2016 | $883 +23% | $12,380 |
| 2015 | $718 +4.1% | $12,380 +8% |
| 2014 | $690 | $11,460 |
| 2013 | -- | -- |
| 2012 | -- | $11,460 |
| 2011 | $697 | $11,460 -3% |
| 2010 | -- | $11,820 |
| 2009 | -- | $11,820 -6.9% |
| 2008 | -- | $12,700 |
| 2006 | -- | $12,700 +23.7% |
| 2004 | -- | $10,270 |
| 2003 | $667 +3.7% | $10,270 -12.4% |
| 2002 | $643 +7.3% | $11,730 +13.6% |
| 2001 | $600 | $10,330 |
Find assessor info on the county website
Neighborhood: Central Colorado Springs
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Nearby schools
GreatSchools rating
- 1/10Hunt Elementary SchoolGrades: PK-5Distance: 0.7 mi
- 2/10Galileo School Of Math And ScienceGrades: 6-8Distance: 2.3 mi
- 3/10Palmer High SchoolGrades: 9-12Distance: 1.5 mi
Schools provided by the listing agent
- Elementary: Queen Palmer
- Middle: Galileo
- High: Palmer
- District: Colorado Springs 11
Source: elevateMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$375,000
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Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$375,000
- Colorado
- El Paso County
- Colorado Springs
- 80910
- Central Colorado Springs
- 718 Prospect Lake Dr
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