Castle Rock Investment Properties: A Realtor's Guide

Is Castle Rock a good place to buy an investment property?

It can be, if you buy for long-term rent and appreciation rather than quick cash flow. Castle Rock investment properties are scarce: on November 5, 2026 the MLS showed 1 duplex, triplex or fourplex listings in Castle Rock, 15 homes whose listing mentions an ADU, in-law suite or separate living quarters, and 50 townhomes and condos at $500,000 or less, out of 521 homes for sale. REALTOR® Brian Lee Burke, the hardest working man in real estate, and our team of real estate agents at The Kenna Group at Keller Williams DTC wrote this Castle Rock Realtor guide for investors with today’s numbers and the rules that decide the return. Call or text 303-955-4220. A live person answers.

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Castle Rock investment numbers today

The median asking price on homes that mention an ADU or in-law suite was $799,900. Across all Castle Rock sales the median was $265 per square foot; three-bedroom homes sold at a median of $606,500 and homes with two bedrooms or fewer made up 78 of the 1,531 sales.

The rules that decide a Castle Rock rental’s return

• Short-term rentals: the last statement we found from the Town of Castle Rock (2023) said the town does not have a separate short-term rental permit; operators need a town business license and collect and remit the town’s sales and lodging taxes. Confirm the current rules with the town before you buy. Homes outside town limits fall under Douglas County’s own short-term rental license.
• HOA rental rules: many Castle Rock HOAs ban stays shorter than 30 days, and some cap how many homes can be rented or require a minimum lease. Read the declaration and the rules before you offer; the HOA, not the town, is usually what stops a short-term rental.
• Metro districts: many newer neighborhoods pay a metro district mill levy on top of the HOA. It raises the property tax, which raises your carrying cost; ask for the levy.
• Water: homes inside town limits are served by Castle Rock Water, the town utility; some areas outside town limits have their own district. Owners usually pay water on a whole-home rental, so price it in.
• ADUs: an in-law suite in a listing is not the same as a permitted second unit. Ask the seller for the permits and check zoning with the town before you count rent from it.

How to run the numbers before you offer

1. Rent: pull leased comparables, not asking rents. We pull MLS lease records for the same neighborhood and size.
2. Carrying cost: principal and interest at today’s investor rates, property tax including any metro district, insurance with the hail deductible, HOA (today’s median on Castle Rock townhomes and condos at $500,000 or less is $361 a month), water and a vacancy and repair reserve.
3. Cash flow and appreciation: at Castle Rock prices, many purchases with 20% to 25% down cash flow thin or negative in the first years; the case is equity over time. Decide which you are buying for before you look.
4. Exit: check what similar homes resold for; our Castle Rock real estate statistics page shows the trend.

Why investors pick our Castle Rock Realtors and real estate agents

REALTOR® Brian Lee Burke spent 25 years in construction before real estate, so he prices the roof, the basement finish and the ADU permits with you on the tour. Our team of real estate agents reads the HOA rental rules and the metro district disclosure before you offer, and Keller Williams Realty DTC, LLC supervises every contract.

Talk to a Castle Rock investment Realtor

Why people call us: 5.0 stars on 283 Google reviews (checked October 2026), A+ with the Better Business Bureau (accredited since 2017), REALTOR® Brian Lee Burke licensed in Colorado since 2003, 306 homes Brian sold in the last 10 years ($117 million) and 1,000+ homes with his team over 20+ years, with Keller Williams Realty DTC, LLC supervising every contract. See Brian’s sold homes, our proof as a group and the team.

Call or text 303-955-4220. A live person answers.

The Kenna Group is a real estate group with Keller Williams Realty DTC, LLC (Keller Williams DTC), 6300 S Syracuse Way, Suite 150, Centennial, CO 80111, formerly known as Kenna Real Estate Group, serving Denver metro home buyers and sellers.

Disclaimer: We are real estate agents, not loan officers, tax advisers or attorneys. Program rules, income limits and credit minimums change, and each lender adds its own rules; a licensed lender confirms what you qualify for and a tax professional answers tax questions. Listing counts and prices come from the MLS on November 5, 2026 (Active and Coming Soon) and change daily; sold figures come from MLS closed sales for the dates shown. Equal Housing Opportunity.