Prospect Lake Homes under $400,000

Welcome to Prospect Lake, a hidden gem nestled in the heart of Colorado Springs, Colorado. This serene neighborhood offers a perfect blend of natural beauty and suburban charm, making it an ideal place for families, retirees, and anyone seeking a peaceful lifestyle. With the stunning backdrop of the Rocky Mountains and the shimmering waters of Prospect Lake, residents enjoy a picturesque setting that feels like a retreat from the hustle and bustle of city life.

One of the standout features of Prospect Lake is its accessibility to outdoor activities. The nearby lake provides opportunities for fishing, kayaking, and leisurely strolls along the scenic trails that surround it. Parks and playgrounds dot the area, making it a great place for children to play and for families to gather for picnics. The community is also conveniently located near shopping centers, restaurants, and schools, ensuring that all your daily needs are just a short drive away.

For those looking to invest in their future, Prospect Lake offers a range of homes under $400,000, making it an attractive option for first-time homebuyers and those seeking affordable housing in a desirable location. From charming single-family homes to cozy townhouses, the real estate options here cater to a variety of lifestyles and preferences.

With its friendly community atmosphere, beautiful surroundings, and affordable housing, Prospect Lake is not just a place to live—it's a place to thrive. Discover your dream home in this enchanting neighborhood and start creating lasting memories today!

Newest Prospect Lake Homes under $400,000

$270,000

2 Beds ⋅ 1 Baths ⋅ 972 SqFt. ⋅ ACTIVE Status

Original hardwood flooring on main level. 2 bedrooms 1-bathroom zoned R2.

728 Prospect Lake Dr, Colorado Springs

Courtesy of RE/MAX Real Estate Group LLC. 719-534-7900

$379,900

ACTIVE Status

**Take advantage of a $5,000 Seller Credit at closing to help reduce your upfront costs or buy down your interest rate!** Rare income opportunity near downtown Colorado Springs! This ranch bungalow features two separate living spaces, including a full apartment in the lower level with a great rental history. Rent both units, house hack by living in one and renting the other, or accommodate extended family while keeping income flexibility. The main-level unit offers two bedrooms, a three-quarter bath, a bright living room with a charming window seat, a dining area, and a kitchen with stainless steel appliances and ample cabinet space. A covered front porch adds curb appeal and tenant appeal. The lower-level apartment has its own separate entrance, a bedroom, a bathroom, and a kitchenette, giving occupants of both units privacy and independence. Investors will appreciate the low-maintenance stucco exterior and the desirable R-2 zoning. Alley access, abundant off-street parking, and RV parking reduce parking concerns for multiple households. The fully fenced yard and a separately fenced patio with a hot tub add amenities that help attract and retain quality tenants. Location drives rental demand, and this one delivers. Memorial Park is a short walk away with trails, Prospect Lake, playgrounds, the annual Balloon Festival, and Fourth of July fireworks, while downtown dining, shopping, entertainment, and employment are just minutes away. Whether you're building a portfolio, offsetting your own mortgage, or planning for multi-generational living, this property offers flexibility, income potential, and a central location that's hard to find. Schedule your showing today!

713 S Sheridan Ave, Colorado Springs

Courtesy of The Cutting Edge. 719-999-5067

$379,900

3 Beds ⋅ 2 Baths ⋅ 1,677 SqFt. ⋅ ACTIVE Status

**Take advantage of a $5,000 Seller Credit at closing to help reduce your upfront costs or buy down your interest rate!** Live in one, rent the other! This charming ranch bungalow near downtown Colorado Springs and Memorial Park includes a full apartment in the lower level, offering rental income to help offset today's interest rates or an ideal setup for multi-generational living. The main level welcomes you with a covered front porch and a bright living room that flows into the dining area, complete with a charming window seat and abundant natural light. The kitchen offers stainless steel appliances, ample cabinet space, and a functional layout. Two bedrooms, including the primary, and a three-quarter bath complete the main floor. Downstairs, the private apartment features its own separate entrance, a bedroom, a bathroom, and a kitchenette, giving tenants or extended family true independence and privacy. This low-maintenance stucco home sits on a desirable R-2 lot with alley access, abundant off-street parking, and RV parking. The fully fenced yard offers room to relax, entertain, or expand, while a separately fenced patio with a hot tub creates a private retreat. Stroll to Memorial Park for trails, Prospect Lake, playgrounds, the annual Balloon Festival, and Fourth of July fireworks, with downtown dining, shopping, and entertainment just minutes away. A legal rental apartment, income potential, and an unbeatable central location. Opportunities like this don't come along often. Schedule your showing today!

713 S Sheridan Ave, Colorado Springs

Courtesy of The Cutting Edge. 719-999-5067

$369,000

4 Beds ⋅ 2 Baths ⋅ 2,150 SqFt. ⋅ ACTIVE Status

This Charming bungalow style home in downtown adjacent historic Hillside. Spacious and bright, this home is zoned R2 and can be converted to a duplex or add an ADU out back! Walking distance to downtown, across from Memorial Park and Prospect Lake, this gem is near it all. Step out your front door to experience the Labor Day liftoff and all that the park has to offer, walking distance to the planned redevelopment of the Union Printers home, easy I-25 access, Playgrounds, trails (Shooks Run), coffee shops, revamped Helen Hunt Campus, and more to this charming downtown neighborhood. Original wood floors, new vinyl windows, new central A/C and heat, freshly painted- this charmer is move-in ready. Grab a scooter and explore all this great location has to offer!

726 Prospect Lake Dr, Colorado Springs

Courtesy of RE/MAX Real Estate Group LLC. 719-534-7900

$330,000

2 Beds ⋅ 1 Baths ⋅ 966 SqFt. ⋅ ACTIVE Status

Welcome home! This 2-bed, 1-bath home is a scenic beauty, fully renovated with modern luxury in mind. It is located just minutes away from downtown, parks, restaurants, I-25, and so much more! Step inside to find a beautiful interior featuring custom tile work, Caesarstone quartz countertops, LG stainless steel appliances, a custom breakfast nook, walk-in pantry, and a convenient dry bar; ideal for entertaining guests or simply relaxing with loved ones. This home offers more than just stylish living spaces, it includes a 2-car oversized garage complete with a workshop that provides ample room for storage, hobbies, or projects. Don't miss your chance to call this stunning property home. Schedule a showing today and envision yourself enjoying the modern conveniences this home offers.

1220 E Fountain Blvd, Colorado Springs

Courtesy of Venterra Real Estate LLC. (719) 368-7639

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