195 Briggs
FHA Assumable
3.55% Rate
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195 Briggs

Erie, CO 80516

2
Bedrooms
2
Bathrooms
3,198
Sq Ft

Payment Calculator

$6,152per month

In an assumption, your down payment covers the seller's equity. You'll need at least 5% of the purchase price in cash, and the rest can be covered with secondary financing.

How much can you bring down?$44,000
$44,000$757,419
Secondary Financing8.5% Rate
$713,419
Blended rate7.65% vs 6.5%
Monthly Payment Comparison
Conventional @ 6.5%
$5,284/mo
Assumable @ 3.55% + gap
$6,152/mo
$0
per month
$0
per year
$0
over 30 years

🏦 Loan Details

List Price
$879,999
Assumable Rate
3.55%
Remaining Balance
$147,580
Loan Type
FHA
Est. Equity Gap
$757,419
Annual Taxes
$4,229

About This Home

Conveniently positioned on a corner quarter-acre lot along Briggs Street, Old Town Erie's main corridor, this property isn't just a home. It's a multi-revenue platform in one of Colorado's fastest-growing communities, zoned Neighborhood Mixed-Use (NMU) & ready to work as hard as you do. The numbers speak first: the two-story unit is already a proven Airbnb performer, averaging $25K gross annually. That's day-one cash flow w/ room to grow as Erie's popularity continues its upward trajectory. The home's natural division into two independent living spaces each w/ its own kitchen & full bath gives you the flexibility to run dual short-term rentals, a long-term tenant alongside an owner-occupied unit, or a live-work arrangement. But the real story here is the NMU zoning allowing home business, professional office, boutique retail, or rental units, As Old Town Erie continues to attract traffic, new residents, & commercial investment, the upside potential of this zoning only increases. An oversized 28x30 garage with 12-foot walls, insulation, evaporative cooling, & rough-in plumbing is primed for conversion - a future ADU, workshop income, personal automotive work/storage, or premium storage rental are all options. 14x18 greenhouse with a 12-foot peak ceiling adds yet another revenue or lifestyle angle. Ample off-street & side street parking ensures you always have a place to park. The one-story side of the home was completely gutted and renovated, & is adaptive-friendly; it even has a heated floor in the bathroom. The 2-story side has a huge kitchen, wood-burning stove & vaulted ceilings. Walk to shops, restaurants, schools, & medical facilities. Watch the community events fill Briggs Street. Then consider: properties w/ this zoning, this footprint, this income history, & this location rarely come available. When they do, they don't last. This is Old Town Erie's version of a value-add opportunity. The foundation is already built - the next chapter is yours to write.

Data Source: REcolorado MLS

Listing information is deemed reliable but not guaranteed. All data provided by the MLS and is subject to change. The Assumable Guy is not the listing agent for this property. Contact us to connect with the listing agent and explore assumable financing options.

This listing
$879,999
3.55% rateFHASave $4,462/mo

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