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988 P Street, Penrose, CO 81240

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For Sale

$799,000

4 beds • 2 baths • 1 half baths • 4,633 sqft

Estimated Payment

$ 4,410 /mo. †

6.67% APR for 30 yrs.
$3,575 in taxes
Change Loan Terms

  • Single Family Detached
    Property type

  • $172.46
    Price per square foot

  • 21-30 Years Old
    Age

Explore this Property

Welcome to your custom-built adobe dream home. When you first enter, you re greeted with booming ceilings covered with aspen wood and large beams. All the interior doors are solid alder knotty pine with aspen trim. Nine-foot ceilings are carried throughout the rest of the home. This 4633 sq foot home has 4 bedrooms, 2.5 bathrooms, and an additional 3 more flex spaces, one which has its own entrance. Need more bedrooms? No problem the septic is oversized to accommodate for additional. Your main floor is 3527 sq ft followed by a partially finished basement with just over 1100 sq ft. Past that partially finished space is a 1054 sq foot crawl space that has been finished out for all your storage and access needs. In floor heat is run throughout the home that can be heated via the indoor propane boiler or the exterior wood burning boiler. This large open concept living, dining, and kitchen space is great for entertaining. Your gourmet kitchen has a 48 range with 6 burners and griddle, center island, tons of cabinet and counter space, and kitchen sink mountain views. The large primary suite has a walk-in closet, corner jet tub, standalone shower, and expansive counter space. The detached three-car garage is also set up for in-floor heat, it just needs the boiler to complete the setup. Wait, that is not all! This property comes with 4 shares of Beaver Ditch to irrigate your field of just over 3 acres. This property is ready for you to bring your four-legged friends with a barn that has power, water, fencing, and additional loafing shed. The barn also has a 20x46 concrete floor space that can be used for a workshop or barn storage. Your chickens also have a new place to call home with the chicken coop. RV hookup with utilities is also on site. Expansive and unobstructed mountain views complete your new dream home. Schedule your showing today and call it home tomorrow.
MLS# 4087953

Courtesy Of CHERRY CREEK PROPERTIES

(719) 458-1345

Property Features

  • Age
    21-30 Years Old
  • Architecture Style
    Ranch
  • Exterior Type
    Adobe, Block, Concrete, Stucco
  • Floor Covering
    Tile, Tile - Ceramic
  • Heating System
    Radiant
  • Lot Size
    10 Acres
  • Rooms
    Dining Room, Kitchen, Living Room

Map and Directions

Directions to 988 P Street, Penrose, CO 81240

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Mortgage Calculator

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Monthly Payment Breakdown

  • Principle and Interest
    $4,112
  • Property Taxes
    $297
  • Hazard Insurance
    $0
  • Private Mortgage Insurance
    $0
  • HOA Dues
    $0
  • Total Monthly Payment:
    $4,410

Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

Schools

Penrose Elementary School

Grades KG-5 Public School

Penrose, CO 81240 2.3 miles
100 illinois st

295 total students
16:1 Student teacher ratio

School Rating: C

School Details

Fremont Middle School

Grades 6-8 Public School

Florence, CO 81226 6.1 miles


School Details

Fremont High School

Grades 9-12 Public School

Florence, CO 81226 7.4 miles
2006 highway 67

603 total students
18:1 Student teacher ratio

School Rating: D+

School Details

School information does not guarantee enrollment. School service boundaries are provided as a reference only, may change, and are not guaranteed to be accurate. Contact the school district directly to verify school enrollment eligibility.

Local area information for Penrose, CO 81240

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Penrose, CO 81240

This community’s employment is highest in the food and construction industries. The area’s overall household expenses are below the national average.

86° July
Hottest Average Month
17° January
Coldest Average Month
2,477 Total Households in Area
1.2% Increase in population since the year 2010
28.6%
of households
have children
27 minutes
Median Commute Time

Household Expenses vs National Average

This location’s average annual expenditures by category compared to the national average. Index score (100=National Average)

Demographic facts
for Penrose, CO 81240

Penrose, CO 81240 has a population of 6,666 people in 2,477 households with a median age of 44.8 years old.

1.2%
Increase in population
since the year 2010
Population is Trending up
2,490
Total households as of 2010
4.1%
projected percent change in total
households in 5 years

Community Population By Age

The median age for this area is 44.8 years old. The smallest percentage group is 55-64 years and the largest percentage is the 85+ years age range.

Community Population By Ethnicity

White 82%
Hispanic 13%
Other 5%
Black 2%
Native American 1%
Asian <1%
The most prevalent ethnicity is White at 82%, followed by Hispanic at 13%, Other at 5%, and Black at 2%.

Economics
for Penrose, CO 81240

35 /sq mi
Population Density
$68,915 /yr
Median Household Income
$354,000
Median Sales Price
27 min
Median Commute Time

Household Expenses vs National Average

This location’s average annual expenditures by category compared to the national average. Index score (100=National Average)

Household by Income

Out of the households in this area, the largest income group is $50-74,999k representing 18.4% of the households.

Transportation to Work

  • Drive 84%
  • Work from Home 12%
  • Walk or Bike 4%
  • Public Transit 0%

Occupancy by Type

Owned 2,038 75%
Rented 440 16%
Vacant 225 8%

White vs Blue Collar Jobs







White Collar 67%
Blue Collar 33%

Family & Education Facts
for Penrose, CO 81240

44.8 Median Age

Average Household Size

2.5
persons per
household

58.1%

Married Households

Community Population By Education

High School Graduate 33%
Some College 27%
Bachelors Degree 16%
Graduate Degree 10%
Some High School 8%
Associates Degree 6%
Of the total people surveyed, the most prevalent educational attainment level is High School Graduate, representing 33.18% of the population.

Household Family Expenses vs National Average

This location’s average annual expenditures compared to the national average. Index score (100=National Average)
28.6% of households have children

Weather
for Penrose, CO 81240

The weather for this area ranges from a high of 86° F in July to a low of 17° F in January

86° July
Hottest Average Month
17° January
Coldest Average Month

Average Temperature by Month

Low (°F)
High (°F)
Jan
17°
44°
Feb
19°
47°
Mar
25°
52°
Apr
33°
61°
May
42°
70°
Jun
51°
80°
Jul
57°
86°
Aug
55°
83°
Sep
47°
76°
Oct
36°
66°
Nov
25°
52°
Dec
18°
45°

Average Temperature in Degrees Fahrenheit

Precipitation

Precipitation (inch)

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Copyright © 2025 Royal Gorge Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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