7340 Waterwheel Street
Colorado Springs, CO, 80911 $ 385,000
Bedrooms5 Baths3.0 Sq 2,529 Monthly Estimate*
$ 2,402
Listed by eXp Realty, LLC
for $385,000 with 5 bedrooms and 3 full baths. This 2,529 square foot home was built in 1987 on a lot size of 0.16.
Spacious and Inviting 5-Bedroom Home with Exceptional Features Near Ft. Carson! Welcome to this beautifully appointed and thoughtfully designed four-level residence, offering the perfect blend of comfort, functionality, and style. With 5 generous bedrooms, 3 full bathrooms, and over 2,500 square feet of versatile living space, this home is an exceptional opportunity for those seeking space, convenience, and character—all within minutes of Ft. Carson. Upon entering, you’re greeted by gleaming LVP floors, an abundance of natural light, and a fluid open-concept layout that effortlessly connects the living, dining, and kitchen areas. The kitchen is equipped with new granite countertops, and newer stainless steel appliances ideal for everyday living or entertaining guests. Upstairs, you’ll find three well-appointed bedrooms, including a private primary suite featuring an elegant travertine fireplace, creating a cozy retreat. A second full bathroom completes the upper level. The lower levels expand the home's livability with a spacious family room featuring a gas fireplace, two additional bedrooms, another full bathroom, and a dedicated office space—perfect for remote work or study. Step outside to enjoy a fully fenced backyard, complete with a newer oversized deck, ideal for entertaining, outdoor dining, or relaxing under the Colorado sky. An oversized two-car garage provides ample storage, plus additional off-street parking suitable for a truck or trailer. Bonus features include an archery block, basketball hoop (no backboard), and solar panels covering approximately 90% of utility cost. A truly rare combination of space, upgrades, and location—this home is a must-see.
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FeaturesInteriorInterior Amenities Ceiling Fan(s) High Ceilings Open Floorplan
Basement Partial
Flooring Carpet Wood
Total Fireplaces 2
Fireplace Features Bedroom Electric Family Room Gas Living Room Wood Burning
Basement (Y/N) Y
Window Features Bay Window(s) Skylight(s)
Above Grade Finished Area 1857
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Laundry Features In Unit
Total Bedrooms 5
Below Grade Finished Area 598
Main Level Bedrooms 0
Main Level Bathrooms 0
Total Baths 3
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GeneralSewer Public Sewer
Heating Forced Air
Cooling Other
Utilities Cable Available Electricity Connected Natural Gas Available
Possession Closing/DOD
Roof Composition
Appliances Dishwasher Disposal Microwave Oven Range Refrigerator
Zoning CAD-O RS-6000
Garage Spaces 2
Patio/Porch Features Deck
Construction Materials Brick Frame Wood Siding
Exclusions Seller's personal property washer dryer and mini fridge in kitchen.
Year Built 1987
Levels Three Or More
Property Subtype Single Family Residence
Tax Year 2024
Ownership Individual
County El Paso
Property Type Residential
HOA N
Attached Garage Y
Contingency None Known
Subdivision Name Sunrise Ridge
Full Baths 3
Status Pending
Directions From Fountain Mesa and Highway 16 head North on Fountain Mesa right on Fortman Ave. right on Grand Valley Drive and right on Waterwheel. Property is on the right.
High School Widefield
City Colorado Springs
Senior Community Y/N N
High School District Widefield 3
Lot Size Units Square Feet
Lot Size Square Feet 6906
Carport Spaces 0
Listing Terms Cash Conventional FHA VA Loan
Elementary School Sunrise
Tax Annual Amount 1871
Middle/Junior High School Janitell
Structure Type House
Standard Status Pending
Occupancy Type Owner
Middle/Junior School District Widefield 3
Elementary School District Widefield 3
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ExteriorExterior Amenities Private Yard
Fencing Full
Parking Features Concrete Smart Garage Door
Lot Features Landscaped Level
Water Source Public
Total Parking 2
Lot Size Area 6906
Building Area Total 2529
Lot Size Acres 0.16
Road Surface Type Paved
Road Frontage Type Public
Road Responsibility Public Maintained Road
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $2,402
- Monthly Property Taxes
- $156
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.375% 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. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbySingle family listings in Colorado Springs, CO
Average List Price $615,118
Percent of Sale Price 60%
About Colorado Springs, CO 461,521 Population
27% Since 2002
$ 57,575 Median Income
36.95 Median Age
30% Households with Children
Trends Information provided by ATTOM Data Solutions.
3371933 Elementary School
3547682 Middle School
Widefield High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 11/14/2025 | $385,000 | -3.51% | Price Down |
| 10/16/2025 | $399,000 | -3.86% | Price Down |
| 10/2/2025 | $415,000 | -2.35% | Price Down |
| 9/13/2025 | $425,000 | | Listed Price |