588 8th St
About This Property
Whether you're dreaming of a weekend camping escape, an off-grid homestead tucked into the trees, or a smart land investment in a region drawing more buyers every year, this property checks the box. The dense pine canopy provides natural privacy and shade, creating a ready-made retreat straight out of the gate.
With two separately deeded lots, you also have built-in flexibility: develop both, hold one and sell the other, or gift a parcel to family and build a private compound.
Located in the greater Westcliffe/Cotopaxi corridor, Colorado's beloved "banana belt," the region is known for mild mountain temperatures, breathtaking views of the Sangre de Cristo Range, and world-class outdoor recreation just minutes away. The Arkansas River, Gold Medal fishing, the Royal Gorge, and the Dark Sky Community of Westcliffe are all within easy reach.
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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 |
|---|---|---|---|
| Sep 16, 2026 | Price Decreased |
$27,500
↓ $400
(1.4%) | |
| Price Decreased | |||
| Sep 10, 2026 | Price Decreased |
$27,900
↓ $2K
(6.7%) | |
| Price Decreased | |||
| Aug 11, 2026 | Price Decreased |
$29,900
↓ $1K
(3.2%) | |
| Price Decreased | |||
| Aug 4, 2026 | Price Decreased |
$30,900
↓ $1K
(3.1%) | |
| Price Decreased | |||
| Jul 10, 2026 | Price Decreased |
$31,900
↓ $1K
(3%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017