24965 Cave Spring Trl
About This Property
The ranch boasts 40 acres of level terrain with scattered ponderosa pine and native grass. The views to the west cover peak to peak of the Colorado front range, including towering views of Pikes Peak!
There are an additional contiguous 80 acre parcel and 50 acre parcel that could be added to the purchase (call to inquire.)
This impressive residence offers 7,770 square feet of finished living space, with 4,590 square feet on the main level and 3,180 square feet in the south-facing walkout basement. The layout provides exceptional room for families, guests, or multi-generational living, featuring 9 bedrooms and 10 bathrooms throughout.
Property also includes:
40x30 Studio Apartment
40x60x16 metal building with a solid concrete floor, full insulation, and reliable heat. Plenty of room houses all your vehicles, toys, and gear, complete with a dedicated workshop zone and abundant shelving for organized storage. Two massive 14-foot overhead doors make easy access a breeze for even your largest equipment.
42x64x16 pole barn.
12x24 chicken coop.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 2, 2026 | Sold | ||
| Sold | |||
| May 7, 2026 | In contract | - | |
| In contract | |||
| Mar 10, 2026 | Listed | $1,595,000 | |
| Listed | |||
| Nov 6, 2023 | Listed | $1,800,000 | |
| Listed | |||
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Nestled on 40-acres of wide-open space with serene mountain vistas, this 9-bed, 10-bath estate in Elbert offers both luxury and relaxed comfort. Within view of the main house, the separate studio, workshop, and barn are your own private oasis to embrace the outdoors. The main home includes 9ft ceilings and an expansive first-floor layout with living area, den, and fireplace. This home boasts 2 bedroom suites on the first floor: On one side is a tranquil haven w his-n-hers dream closets and 5-piece bath. On the opposite side of the home is an equally relaxing bedroom suite w gas fireplace, dream closet and bath; and 3 bedrooms w ensuite baths and w/i closets. At the heart of the home, the gourmet kitchen is equipped with a huge center island, s/s appliances, prep sink, gas range w conv oven, 2 wall ovens, and w/i pantry. An office, bath, and 2 laundry areas complete the first floor. The w/o bsmt offers large rec area; 3 bedrooms with w/i closets and ensuite baths; office; guest bath; and a 3rd laundry room. The home is supported by 2 furnaces, 2 AC units, and (2) 75-gal water heaters. The home's interior opens onto a beautiful, low maintenance deck from which you may enjoy views of Pike's Peak and the front range! External amenities incl a 1,200 sq ft studio complete with full kitchen, s/s appliances, wood burning stove, mini split heat and AC, and 40-gal water heater. Adjacent is a 60 x 40 workshop, outfitted with concrete floor, propane heat, 3 double bay overhead garage doors, to easily accommodate your RV, cars, and other toys and equipment. Nearby is the 60 x 40 pole barn equipped with gravel floor, outside water, electric, 3 stall doors, and a tall overhead door at each end. There is even a fancy chicken coop on the grounds. Property is fenced and cross-fenced. Seller also has (2) 80-acre sites available, please see MLS #4961986 & 4439552.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017