311 Cronk · Olney Springs, CO 81062

$65,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 1 Days on market

Built 1950 7,013 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Appreciation +3.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Affordable home in Olney Springs. This 2-bedroom, 1-bathroom home has 720 square feet and features the same flooring throughout. There's a laundry room with the washer and dryer included. Outside, you'll find a covered patio and a privacy-fenced backyard. Olney Springs is conveniently located about 40 miles from Pueblo and 30 miles from La Junta.

Key facts

• Laundry room
• Covered patio
• 7,013 sq ft lot

Tags

• COVERED PATIO
• PRIVACY-FENCED BACKYARD
• LAUNDRY ROOM

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Detached garage
• Utilities: Public water
• Home design: Single-family residential; Frame and stucco construction
• Construction: Composition roof
• Exterior features: Covered patio/porch; Wood fencing

Interior

• Kitchen: Range; Oven
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Ceiling fan cooling; Evaporative cooling; Window unit(s)
• Interior features: Ceiling fans; Master bedroom on main level; Wood window frames; Unfinished partial basement
• Laundry & utility: Washer; Dryer; Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($936 rent vs $65k).

Location & tenants

• Location reads 56/100 on livability (#329 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Crowley County School District No. Re-1-J (rural): math 16% / reading 28% proficiency, ranked #150 of 176 in CO (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 7 active listings in the ZIP; 4 units permitted in Crowley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Crowley County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.44% ✓
• Cap rate: 12.77%
• Cash-on-cash: 23.14%
• DSCR: 2.03
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.1%
• Equity multiple: 1.65×
• Total profit: $11,799
• Equity at exit: $9,692

10-year hold

• IRR: 24.7%
• Equity multiple: 3.14×
• Total profit: $38,966
• Equity at exit: $5,620

Cash invested: $18,200 (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 81062

• Home prices YoY: -1.5%
• Active inventory: 7
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $936 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$21 /mo · $251/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $351

Break-even live

Break-even rent $492

Max offer price $65,000

Occupancy floor 58%

Sensitivity live

Price	-10% $388	-5% $369	+0% $351	+5% $333	+10% $314
Rent	-10% $277	-5% $314	+0% $351	+5% $388	+10% $425
Rate	-1.0pp $384	-0.5pp $368	base $351	+0.5pp $334	+1.0pp $317

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 348-char remark
2. 2026-06-19
   listed $65,000 Active 1 DOM

ⓘ 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: $251 · $21/mo
• Projected year-2 tax: $358 · $30/mo
• Expected delta: +$107/yr (+$9/mo · 42.7%)

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

Taxation est. · year 1

• Rental income: $11,238
• − Mortgage interest: −$3,641
• − Property taxes: −$251
• − Insurance: −$325
• − Repairs & maintenance: −$899
• − Management: −$899
• − Depreciation: −$1,891
• Taxable income: $3,332
• Est. tax owed @ 24.0%: −$800
• After-tax cash flow: $3,412/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: Crowley County School District No. Re-1-J
• NCES district ID: 0803210
• Math proficiency: 16% ▼ -10.00%
• Reading proficiency: 28% ▼ -12.00%
• Median HH income: $35,031
• Composite: 21.28/100
• National rank: #13663
• State rank: #150 of 176 in CO

Livability — Olney Springs

• Score: 56/100
• State rank: #329
• US rank: #22689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olney Springs, CO
• Population (ZIP): 1,818

Population outlook (Crowley County) Hauer SSP2

• Today (2025): 5,612 people
• By 2030: 5,725 · +2.0%
• By 2040: 6,092 · +8.6%
• By 2050: 6,391 · +13.9%
• By 2075: 6,250 · +11.4%
• By 2100: 5,349 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 61% Hispanic / Latino 25% Two or more races 12% Black 7% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 12% Cuban 2%
• Common ancestry: Serbian 4% Romanian 2% Iranian 1%
• Foreign-born: 0%
• Languages at home: 91% English-only · Spanish 8% Other Asian/Pacific 1%

Political lean MEDSL · Crowley

• 2024 margin: Solid R (+47.4) · D 24.7% · R 72.2% · Other 3.1%
• 2008→2024 swing: -20.2pp toward R · 2008: -27.2pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+47.7 2016: R+48.5 2012: R+25.9 2008: R+27.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.26%
• Current HPI: 219.4039
• Rent YoY: —
• Metro: —
• 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

+124.1% since first listed

20 events — show timeline

• 2026-06-18 Listed $65,000 PARMLS
• 2022-11-21 Listing Removed — IRES
• 2022-11-21 Listing Removed — REColorado as Distributed by MLS Grid
• 2022-10-20 Price Changed $82,000 REColorado as Distributed by MLS Grid
• 2022-10-20 Price Changed $82,000 IRES
• 2022-10-20 Price Changed $82,000 PARMLS
• 2022-10-07 Price Changed $87,000 REColorado as Distributed by MLS Grid
• 2022-10-07 Price Changed $87,000 PARMLS
• 2022-10-07 Price Changed $87,000 IRES
• 2022-09-26 Price Changed $97,000 PARMLS
• 2022-09-20 Listed $97,000 IRES
• 2022-09-20 Listed $97,000 REColorado as Distributed by MLS Grid
• 2022-09-16 Listed $107,000 PARMLS
• 2021-01-11 Sold (MLS) $59,500 PARMLS
• 2020-08-02 Listed $57,500 PARMLS
• 2020-03-06 Sold (MLS) $23,000 PARMLS
• 2020-01-21 Listed $29,900 PARMLS
• 2013-06-27 Sold (MLS) $15,000 PARMLS
• 2012-11-25 Listed $18,000 PARMLS
• 2007-04-22 Sold (Public Records) $29,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $251 · +204.4% YoY. Source: county tax records.