1420 Panadero Ave #2 · La Veta, CO 81055

$169,900

1 bd · 1.0 ba · 637 sqft · Condo public records · 88 Days on market

Built 1983 $75/mo HOA · 6% of rent

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Why this score? — see what drove the D- 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 +10.8/30.0
• ARV discount +7.5/15.0
• DSCR +3.1/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1420 Panadero Ave #2 - This stunning upper-level condo boasts amazing views and an abundance of local wildlife. Just minutes from Cuchara Village, it offers the perfect balance of nature and convenience. The property features newer appliances, upgraded windows, new ceiling fans, and a beautifully renovated kitchen. Enjoy your mornings and evenings on the 2 cute decks, perfect for relaxing and taking in the serene surroundings. Don't miss this opportunity to own a piece of Colorado paradise!

Key facts

• Top level
• Unobstructed views
• Vaulted ceilings

Tags

• TOP LEVEL
• VAULTED CEILINGS
• UNOBSTRUCTED VIEWS
• WALK TO CUCHARA MOUNTAIN PARK
• ACCESS INDIAN CREEK TRAIL
• TURNKEY MOUNTAIN RETREAT

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $900 (about $75/month); includes trash and snow removal; Association reports no amenity-specific facilities

Exterior

• Parking: No garage
• Security: Security system
• Utilities: Public water; Public sewer
• Home design: Residential condominium
• Construction: Wood siding; Metal roof
• Exterior features: Deck; Security system

Interior

• Kitchen: Range; Oven; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Hardwood and wood flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric baseboard heating; No cooling
• Interior features: Vaulted ceilings; Main-level primary bedroom; Double-pane windows; Living room fireplace
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $-77 ($-926/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (22.3% below list).
• Recommended offer: $132k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 1.9% in La Veta — 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 62/100 on livability (#198 in CO) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: employment C-, amenities D, crime F.
• La Veta School District Re-2 (rural): math 25% / reading 35% proficiency, ranked #105 of 176 in CO (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: La Veta Elementary School (reading 24%, 117 students, 53% FRL); La Veta Junior-Senior High School (math 10% / reading 30%, grade F, #315 of 381 statewide, top 85%, 121 students, 40% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 131 active listings in the ZIP; 51 units permitted in Huerfano County in 2024 (0 in 5+ unit buildings).

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.
• Huerfano County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $132,042 (22.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.95%
• DSCR: 0.91
• GRM: 10.7

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-32,460
• Equity at exit: $25,333

10-year hold

• IRR: -12.3%
• Equity multiple: 0.27×
• Total profit: $-34,650
• Equity at exit: $14,690

Cash invested: $47,572 (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 81055

• Home prices YoY: -16.8%
• Active inventory: 131
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,320 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$84 /mo · $1,003/yr
• Insurance: −$71
• HOA: −$75
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $-77

Break-even live

Break-even rent $1,418

Max offer price $156,264

Occupancy floor —

Sensitivity live

Price	-10% $19	-5% $-29	+0% $-77	+5% $-125	+10% $-173
Rent	-10% $-182	-5% $-129	+0% $-77	+5% $-25	+10% $27
Rate	-1.0pp $8	-0.5pp $-34	base $-77	+0.5pp $-121	+1.0pp $-166

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $75 · $900/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $169,900 Active 88 DOM
2. 2026-06-21
   days on market $169,900 Active 87 DOM
3. 2026-06-18
   days on market $169,900 Active 85 DOM
4. 2026-06-17
   days on market $169,900 Active 84 DOM
5. 2026-06-16
   days on market $169,900 Active 83 DOM
6. 2026-06-15
   days on market $169,900 Active 82 DOM
7. 2026-06-13
   days on market $169,900 Active 80 DOM
8. 2026-06-12
   days on market $169,900 Active 79 DOM
9. 2026-06-09
   days on market $169,900 Active 76 DOM
10. 2026-06-08
    days on market $169,900 Active 75 DOM
11. 2026-06-07
    days on market $169,900 Active 74 DOM
12. 2026-06-07
    days on market $169,900 Active 73 DOM
13. 2026-06-04
    days on market $169,900 Active 70 DOM
14. 2026-06-03
    price $169,900 Active 69 DOM
15. 2026-06-02
    days on market $184,900 Active 69 DOM
16. 2026-06-01
    days on market $184,900 Active 68 DOM
17. 2026-05-31
    days on market $184,900 Active 67 DOM
18. 2026-05-31
    days on market $184,900 Active 66 DOM
19. 2026-03-25
    listed $184,900 Active
20. 2024-07-31
    soldstatus $172,500
21. 2024-07-26
    soldstatus $172,500 Closed 495-char remark

    Show marketing remark (495 chars)

    1420 Panadero Ave #2 - This stunning upper-level condo boasts amazing views and an abundance of local wildlife. Just minutes from Cuchara Village, it offers the perfect balance of nature and convenience. The property features newer appliances, upgraded windows, new ceiling fans, and a beautifully renovated kitchen. Enjoy your mornings and evenings on the 2 cute decks, perfect for relaxing and taking in the serene surroundings. Don't miss this opportunity to own a piece of Colorado paradise!

22. 2024-07-10
    historical Active Under Contract 495-char remark

    Show marketing remark (495 chars)

    1420 Panadero Ave #2 - This stunning upper-level condo boasts amazing views and an abundance of local wildlife. Just minutes from Cuchara Village, it offers the perfect balance of nature and convenience. The property features newer appliances, upgraded windows, new ceiling fans, and a beautifully renovated kitchen. Enjoy your mornings and evenings on the 2 cute decks, perfect for relaxing and taking in the serene surroundings. Don't miss this opportunity to own a piece of Colorado paradise!

23. 2024-07-03
    listed $185,000 Active 495-char remark

    Show marketing remark (495 chars)

    1420 Panadero Ave #2 - This stunning upper-level condo boasts amazing views and an abundance of local wildlife. Just minutes from Cuchara Village, it offers the perfect balance of nature and convenience. The property features newer appliances, upgraded windows, new ceiling fans, and a beautifully renovated kitchen. Enjoy your mornings and evenings on the 2 cute decks, perfect for relaxing and taking in the serene surroundings. Don't miss this opportunity to own a piece of Colorado paradise!

24. 2022-05-24
    soldstatus $135,000
25. 2022-05-23
    soldstatus $135,000 384-char remark

    Show marketing remark (384 chars)

    Arguably the VERY BEST LOCATION in the Aspen Leaf Village. This unit is in the eastern most building and on the top level providing vaulting ceilings and incredible unobstructed views. Walk to the Cuchara Mountain Park in less than five minutes or get onto the Indian Creek Trail in less than 2 minutes! Nicely furnished and well cared for, this unit comes turn key and ready to go.

26. 2022-05-06
    listed $140,000 384-char remark

    Show marketing remark (384 chars)

    Arguably the VERY BEST LOCATION in the Aspen Leaf Village. This unit is in the eastern most building and on the top level providing vaulting ceilings and incredible unobstructed views. Walk to the Cuchara Mountain Park in less than five minutes or get onto the Indian Creek Trail in less than 2 minutes! Nicely furnished and well cared for, this unit comes turn key and ready to go.

27. 2014-08-26
    soldstatus $52,500
28. 2005-05-12
    soldstatus $58,300
29. 2001-09-28
    soldstatus $55,000
30. 1999-08-10
    soldstatus $62,000

ⓘ 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: $1,003 · $84/mo
• Projected year-2 tax: $1,003 · $84/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 14 d/yr ≥74°F today · 38 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,845
• − Mortgage interest: −$9,517
• − Property taxes: −$1,003
• − Insurance: −$850
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − HOA: −$900
• − Depreciation: −$4,943
• Taxable loss: −$3,902
• Est. tax savings @ 24.0%: +$936
• After-tax cash flow: $10/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: La Veta School District Re-2
• NCES district ID: 0805160
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 35% ▲ 5.00%
• Median HH income: $45,702
• Composite: 28.61/100
• National rank: #12044
• State rank: #105 of 176 in CO

Livability — La Veta

• Score: 62/100
• State rank: #198
• US rank: #16099

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,582

Population outlook (Huerfano County) Hauer SSP2

• Today (2025): 5,963 people
• By 2030: 5,550 · -6.9%
• By 2040: 4,598 · -22.9%
• By 2050: 3,849 · -35.5%
• By 2075: 2,906 · -51.3%
• By 2100: 2,156 · -63.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 12% Two or more races 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Iranian 6% Italian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 2%

Political lean MEDSL · Huerfano

• 2024 margin: Lean R (+8.6) · D 44.3% · R 52.9% · Other 2.9%
• 2008→2024 swing: -19.8pp toward R · 2008: 11.2pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+2.9 2016: R+6.5 2012: D+7.8 2008: D+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.60%
• Current HPI: 186.2383
• 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

+198.2% since first listed

12 events — show timeline

• 2026-03-25 Listed $184,900 PARMLS
• 2024-07-31 Sold (Public Records) $172,500 Public Records
• 2024-07-26 Sold (MLS) $172,500 SPMLS
• 2024-07-10 Contingent — SPMLS
• 2024-07-03 Listed $185,000 SPMLS
• 2022-05-24 Sold (Public Records) $135,000 Public Records
• 2022-05-23 Sold (MLS) $135,000 SPMLS
• 2022-05-06 Listed $140,000 SPMLS
• 2014-08-26 Sold (Public Records) $52,500 Public Records
• 2005-05-12 Sold (Public Records) $58,300 Public Records
• 2001-09-28 Sold (Public Records) $55,000 Public Records
• 1999-08-10 Sold (Public Records) $62,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $1,003 · +97.2% YoY. Source: county tax records.