1618 Buena Vista St

Trinidad, CO 81082

$112,320C+

3 bd · 2.0 ba · 1,212 sqft · Built 1991 · SingleFamily · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,137/mo
• Mortgage (P&I): −$589
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $211/mo
• Annual: $2,528/yr
• Cap rate: 8.54%
• Cash-on-cash: 8.04%
• DSCR: 1.36
• 1% rule: 1.01%
• Cash to close: $31,450

Investor read

• This is a 3-bed/2.0-bath single-family listed at $112k.
• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• It's been on market 68 days — a 6% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $777 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#303 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, amenities F, commute F.
• Trinidad School District 1 In The County Of Las Animas And (town): math 6% / reading 27% proficiency, ranked #82 of 86 in CO (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Fisher'S Peak Elementary School (math 5% / reading 22%, grade F, #824 of 966 statewide, top 88%, 403 students, 76% FRL); Trinidad Middle School (math 2% / reading 15%, grade F, #251 of 270 statewide, top 94%, 180 students, 74% FRL); Trinidad High School (math 15% / reading 44%, grade F, #233 of 381 statewide, top 64%, 213 students, 62% FRL).
• Market conditions: 264 active listings in the ZIP; 43 units permitted in Las Animas County in 2024 (0 in 5+ unit buildings).
• Las Animas County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $12k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.5% vs local median 3.1% in Trinidad — 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.

Questions for listing agent

• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.