1002 State Ave · Alamosa, CO 81101

$172,000

3 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 73 Days on market

Built 1901 4,356 sqft lot Est $207k · 17% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is located on a corner lot with a fenced in yard. It has nice trees with a front and back yard. There is a garage that has been turned into a storage, but could be turned back into a garage by adding the garage door or could be turned into additional living area. There is also a shed in the backyard for additional storage. Entering the home is a mudroom which has been tiled. The living room is a nice size which connects to a larger dinning room area that has a new heater. The Kitchen is off of the dinning area. The Laundry room has a new on-demand hot water heater and is located to the back of the house where you access the back yard. Up stairs is an open loft area that could be used for a sleeping loft, office, exercise area or an additional living space. There is a bedroom off of the loft area. Home has some hard wood flooring, partial carpet and lots on nice features. No furniture is included included in the sale. This could be a great starter home, retirement home or an investment property for rentals. Call today to schedule a tour.

Key facts

• Fully fenced
• Walking distance
• Storage shed

Tags

• CORNER LOT
• SOLAR SYSTEM
• FULLY FENCED
• STORAGE SHED
• WALKING DISTANCE

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Electricity available; Natural gas available; High-speed internet available; Public water; Public sewer
• Home design: Single-family residential
• Construction: Stucco and wood frame construction; Stick-built; Fiberglass roof
• Exterior features: Corner lot; City street frontage; Paved road; Chain link, full and privacy fencing; Garage(s) on the property

Interior

• Kitchen: Tankless water heater
• Flooring: Partially carpeted
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Unfurnished; Crawl space

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $172k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (13.1% below list).
• Recommended offer: $150k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.6% in Alamosa — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#79 in CO) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime F, employment F.
• Alamosa School District No. Re-11J (town): math 23% / reading 36% proficiency, ranked #59 of 86 in CO (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Alamosa Elementary School 3-5 (math 32% / reading 32%, grade F, #475 of 966 statewide, top 51%, 504 students, 66% FRL); Ortega Middle School (math 16% / reading 37%, grade F, #160 of 270 statewide, top 60%, 540 students, 64% FRL); Alamosa High School (math 42% / reading 52%, grade D-, #132 of 381 statewide, top 36%, 582 students, 54% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 187 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 51 units permitted in Alamosa County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Alamosa County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $13k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,527 (13.1% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.26%
• DSCR: 1.14
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $207,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1002 Edison Ave	0.18mi	3/1.5	1,162 (+2%)	0mo	$95,000	$82	86
913 Hunt Ave	0.07mi	2/1.0 (-1)	1,064 (-7%)	2mo	$194,000	$182	79
1121 San Juan Ave	0.17mi	3/1.0	1,012 (-11%)	7mo	$115,000	$114	68
1306 State Ave	0.24mi	2/1.0 (-1)	1,066 (-6%)	6mo	$207,000	$194	68
1114 La Due Ave	0.29mi	3/1.0	1,201 (+5%)	12mo	$200,000	$167	67
123 Twelfth St	0.40mi	3/1.0	1,014 (-11%)	3mo	$220,000	$217	61
422 Seventh St	0.25mi	2/1.0 (-1)	1,046 (-8%)	13mo	$117,500	$112	59
206 Bell Ave	0.71mi	3/1.0	1,074 (-6%)	2mo	$221,000	$206	56
61 Conejos Ave	0.66mi	2/1.0 (-1)	1,027 (-10%)	1mo	$100,000	$97	47
1731 San Juan Ave	0.60mi	3/2.0	1,260 (+10%)	5mo	$289,000	$229	46
1704 Ross Ave	0.58mi	2/1.0 (-1)	1,009 (-12%)	6mo	$130,000	$129	44
1821 San Juan Ave	0.65mi	3/2.0	1,232 (+8%)	12mo	$280,000	$227	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-19,610
• Equity at exit: $25,646

10-year hold

• IRR: -2.0%
• Equity multiple: 0.86×
• Total profit: $-6,611
• Equity at exit: $14,871

Cash invested: $48,160 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 38 Tenant-Leaning
• State Colorado: 38 Tenant-Leaning · D+4
• County: — inherits STATE
• City: — inherits STATE

2023 reforms: 10-day cure, mandated notice, source-of-income protected. Courts backlogged in Denver.

Methodology + full state rankings →

ZIP-level market 81101

• Home prices YoY: -23.8%
• Active inventory: 187
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,495 high
• Mortgage (P&I): −$902
• Tax from tax record: −$77 /mo · $923/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $131

Break-even live

Break-even rent $1,330

Max offer price $172,000

Occupancy floor 86%

Sensitivity live

Price	-10% $228	-5% $179	+0% $131	+5% $82	+10% $33
Rent	-10% $13	-5% $72	+0% $131	+5% $190	+10% $249
Rate	-1.0pp $217	-0.5pp $174	base $131	+0.5pp $86	+1.0pp $41

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $43,000
• Closing costs: $5,160
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 10th St Alamosa, CO	2.0	1.0	946	$1,200	$1.27	4d	1	0.38mi
517 Fourth St Alamosa, CO	4.0	1.0	1186	$900	$0.76	25d	1	0.52mi
1777 Edison Ave Apt 1 Alamosa, CO	3.0	1.0	1115	$1,425	$1.28	4d	1	0.61mi
729 3rd St Alamosa, CO	2.0	1.0	722	$1,250	$1.73	16d	1	0.62mi
511 Crestone Ave Unit 511 Alamosa, CO	3.0	1.0	1205	$1,700	$1.41	16d	1	1.07mi
507 Crestone Ave Alamosa, CO	3.0	1.0	1205	$1,650	$1.37	25d	1	1.07mi
525 Washington Ave Alamosa, CO	3.0	2.0	1275	$1,950	$1.53	4d	1	1.10mi
517 Washington Ave Alamosa, CO	3.0	2.0	1275	$1,800	$1.41	25d	1	1.10mi
509 Washington Ave Alamosa, CO	3.0	2.0	1275	$1,850	$1.45	25d	1	1.11mi
511 Washington Ave Alamosa, CO	3.0	2.0	1275	$1,850	$1.45	25d	1	1.11mi

Listing history 23 events

1. 2026-06-21
   days on market $172,000 Active 73 DOM
2. 2026-06-18
   days on market $172,000 Active 70 DOM
3. 2026-06-17
   days on market $172,000 Active 69 DOM
4. 2026-06-16
   days on market $172,000 Active 68 DOM
5. 2026-06-15
   days on market $172,000 Active 67 DOM
6. 2026-06-14
   days on market $172,000 Active 65 DOM
7. 2026-06-10
   days on market $172,000 Active 62 DOM
8. 2026-06-09
   days on market $172,000 Active 61 DOM
9. 2026-06-08
   days on market $172,000 Active 60 DOM
10. 2026-06-07
    days on market $172,000 Active 59 DOM
11. 2026-06-05
    days on market $172,000 Active 56 DOM
12. 2026-06-03
    days on market $172,000 Active 55 DOM
13. 2026-06-02
    days on market $172,000 Active 54 DOM
14. 2026-06-01
    days on market $172,000 Active 53 DOM
15. 2026-05-31
    days on market $172,000 Active 52 DOM
16. 2026-05-31
    days on market $172,000 Active 51 DOM
17. 2026-05-11
    price $172,000
18. 2026-04-09
    listed $185,000 Active
19. 2022-06-30
    soldstatus $150,000
20. 2022-03-25
    soldstatus $150,000 1062-char remark

    Show marketing remark (1062 chars)

    This home is located on a corner lot with a fenced in yard. It has nice trees with a front and back yard. There is a garage that has been turned into a storage, but could be turned back into a garage by adding the garage door or could be turned into additional living area. There is also a shed in the backyard for additional storage. Entering the home is a mudroom which has been tiled. The living room is a nice size which connects to a larger dinning room area that has a new heater. The Kitchen is off of the dinning area. The Laundry room has a new on-demand hot water heater and is located to the back of the house where you access the back yard. Up stairs is an open loft area that could be used for a sleeping loft, office, exercise area or an additional living space. There is a bedroom off of the loft area. Home has some hard wood flooring, partial carpet and lots on nice features. No furniture is included included in the sale. This could be a great starter home, retirement home or an investment property for rentals. Call today to schedule a tour.

21. 2022-03-25
    soldstatus $150,000

    Show marketing remark (1062 chars)

    This home is located on a corner lot with a fenced in yard. It has nice trees with a front and back yard. There is a garage that has been turned into a storage, but could be turned back into a garage by adding the garage door or could be turned into additional living area. There is also a shed in the backyard for additional storage. Entering the home is a mudroom which has been tiled. The living room is a nice size which connects to a larger dinning room area that has a new heater. The Kitchen is off of the dinning area. The Laundry room has a new on-demand hot water heater and is located to the back of the house where you access the back yard. Up stairs is an open loft area that could be used for a sleeping loft, office, exercise area or an additional living space. There is a bedroom off of the loft area. Home has some hard wood flooring, partial carpet and lots on nice features. No furniture is included included in the sale. This could be a great starter home, retirement home or an investment property for rentals. Call today to schedule a tour.

22. 2022-02-12
    listed $150,000 1062-char remark

    Show marketing remark (1062 chars)

    This home is located on a corner lot with a fenced in yard. It has nice trees with a front and back yard. There is a garage that has been turned into a storage, but could be turned back into a garage by adding the garage door or could be turned into additional living area. There is also a shed in the backyard for additional storage. Entering the home is a mudroom which has been tiled. The living room is a nice size which connects to a larger dinning room area that has a new heater. The Kitchen is off of the dinning area. The Laundry room has a new on-demand hot water heater and is located to the back of the house where you access the back yard. Up stairs is an open loft area that could be used for a sleeping loft, office, exercise area or an additional living space. There is a bedroom off of the loft area. Home has some hard wood flooring, partial carpet and lots on nice features. No furniture is included included in the sale. This could be a great starter home, retirement home or an investment property for rentals. Call today to schedule a tour.

23. 2008-09-05
    soldstatus $60,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CO · Resets to sale price

• Current annual tax: $923 · $77/mo
• Projected year-2 tax: $946 · $79/mo
• Expected delta: +$23/yr (+$2/mo · 2.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥85°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,943
• − Mortgage interest: −$9,635
• − Property taxes: −$923
• − Insurance: −$860
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$5,004
• Taxable loss: −$1,349
• Est. tax savings @ 24.0%: +$324
• After-tax cash flow: $1,892/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Alamosa School District No. Re-11J
• NCES district ID: 0802070
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $34,857
• Composite: 24.29/100
• National rank: #7713
• State rank: #59 of 86 in CO

Livability — Alamosa

• Score: 71/100
• State rank: #79
• US rank: #7230

Category grades

Amenities A+ Commute C Cost of living A+ Crime F Employment F Housing A- Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alamosa, CO
• County: Alamosa County · 15,550 people
• City population: 15,550
• Metro: nan
• Population (ZIP): 15,550
• Household income: $54,844
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 511.0

Population outlook (Alamosa County) Hauer SSP2

• Today (2025): 17,715 people
• By 2030: 18,383 · +3.8%
• By 2040: 19,792 · +11.7%
• By 2050: 21,412 · +20.9%
• By 2075: 26,342 · +48.7%
• By 2100: 28,866 · +62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 50% White 44% Two or more races 24% Native American 5% Black 2%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Italian 4% Russian 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 78% English-only · Spanish 21%

Political lean MEDSL · Alamosa

• 2024 margin: R (+10.8) · D 43.1% · R 54.0% · Other 2.9%
• 2008→2024 swing: -24.9pp toward R · 2008: 14.1pp · 2024: -10.8pp
• All cycles: 2024: R+10.8 2020: R+0.7 2016: D+2.0 2012: D+16.3 2008: D+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.63%
• Current HPI: 284.5384
• Rent YoY: —
• Metro: nan
• State GDP YoY: ▲ 1.95%
• F500 in state: 14

Industry mix (Fortune 500 HQ in CO)

Industry	F500 HQs	Revenue
▸Technology Distribution	1	$31B
▸Food / Agriculture	1	$18B
▸Packaging	1	$14B
▸Healthcare	1	$13B
▸Energy	1	$10B
▸Technology	1	$4B

Price history

+186.7% since first listed

7 events — show timeline

• 2026-05-11 Price Changed $172,000 cren
• 2026-04-09 Listed $185,000 cren
• 2022-06-30 Sold (Public Records) $150,000 Public Records
• 2022-03-25 Sold (Public Records) $150,000 Public Records
• 2022-03-25 Sold (MLS) $150,000 cren
• 2022-02-12 Listed $150,000 cren
• 2008-09-05 Sold (Public Records) $60,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $923 · +74.2% YoY. Source: county tax records.