804 Main St · San Luis, CO 81152

$95,000

4 bd · 2.0 ba · 1,489 sqft · SingleFamily public records · 249 Days on market

Built 1921 10,530 sqft lot Est $150k · 37% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Appreciation +3.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Located right on Main Street, the historic Lucero House carries generations of memories and small-town charm. Lovingly maintained and previously used as a short-term rental, this home is move-in ready with only cosmetic updates to make it your own (buyer to verify local STR regulations). Though modest in appearance, it offers five spacious rooms across two levels - some without built-in closets, true to its historic character. The private backyard provides a peaceful setting for relaxing or entertaining. Schedule your private showing today and experience this Main Street treasure for yourself.

Key facts

• Historic charm
• Private backyards
• 0.24 acre lot

Tags

• PRIVATE BACKYARDS
• HISTORIC CHARM

Property features AI

Exterior

• Parking: Five off-street parking spaces (unpaved)
• Utilities: Public sewer
• Home design: Single family residence; Two levels; Unattached property
• Construction: Adobe and concrete construction; Shake roof; House
• Exterior features: Private yard

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Five bedrooms — three on the main level and two on the upper level; Primary suite on the main level
• Flooring: Carpet; Laminate; Linoleum
• Bathrooms: One full bathroom on the main level (primary suite)
• Heating & cooling: Propane heating; Wall furnace; Wood stove
• Interior features: Private yard

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#321 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: health & safety C-, schools F, crime F.
• Centennial School District No. R-1 (rural): math 6% / reading 20% proficiency, ranked #168 of 176 in CO (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 397 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Costilla County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 249 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $15k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 249 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — 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: 1.37% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.17%
• DSCR: 1.85
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $150,389
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102 Main St	0.65mi	3/1.0 (-1)	1,388 (-7%)	19mo	$140,000	$101	34

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: 11.1%
• Equity multiple: 1.44×
• Total profit: $11,663
• Equity at exit: $14,165

10-year hold

• IRR: 20.1%
• Equity multiple: 2.69×
• Total profit: $44,962
• Equity at exit: $8,214

Cash invested: $26,600 (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 81152

• Home prices YoY: -2.9%
• Active inventory: 397
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,302 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$66 /mo · $793/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $425

Break-even live

Break-even rent $764

Max offer price $95,000

Occupancy floor 62%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $95,000 Active 249 DOM
2. 2026-06-18
   days on market $95,000 Active 248 DOM
3. 2026-06-17
   days on market $95,000 Active 247 DOM
4. 2026-06-16
   days on market $95,000 Active 246 DOM
5. 2026-06-15
   days on market $95,000 Active 245 DOM
6. 2026-06-13
   days on market $95,000 Active 243 DOM
7. 2026-06-12
   days on market $95,000 Active 242 DOM
8. 2026-06-09
   days on market $95,000 Active 239 DOM
9. 2026-06-08
   days on market $95,000 Active 238 DOM
10. 2026-06-07
    days on market $95,000 Active 237 DOM
11. 2026-06-07
    days on market $95,000 Active 236 DOM
12. 2026-06-04
    days on market $95,000 Active 233 DOM
13. 2026-06-02
    days on market $95,000 Active 232 DOM
14. 2026-06-01
    days on market $95,000 Active 231 DOM
15. 2026-05-31
    days on market $95,000 Active 230 DOM
16. 2026-05-31
    days on market $95,000 Active 229 DOM
17. 2026-02-17
    price $95,000 600-char remark

    Show marketing remark (600 chars)

    Located right on Main Street, the historic Lucero House carries generations of memories and small-town charm. Lovingly maintained and previously used as a short-term rental, this home is move-in ready with only cosmetic updates to make it your own (buyer to verify local STR regulations). Though modest in appearance, it offers five spacious rooms across two levels - some without built-in closets, true to its historic character. The private backyard provides a peaceful setting for relaxing or entertaining. Schedule your private showing today and experience this Main Street treasure for yourself.

18. 2026-02-17
    price $95,000 600-char remark

    Show marketing remark (600 chars)

    Located right on Main Street, the historic Lucero House carries generations of memories and small-town charm. Lovingly maintained and previously used as a short-term rental, this home is move-in ready with only cosmetic updates to make it your own (buyer to verify local STR regulations). Though modest in appearance, it offers five spacious rooms across two levels - some without built-in closets, true to its historic character. The private backyard provides a peaceful setting for relaxing or entertaining. Schedule your private showing today and experience this Main Street treasure for yourself.

19. 2025-10-13
    listed $110,000 Active 600-char remark

    Show marketing remark (600 chars)

    Located right on Main Street, the historic Lucero House carries generations of memories and small-town charm. Lovingly maintained and previously used as a short-term rental, this home is move-in ready with only cosmetic updates to make it your own (buyer to verify local STR regulations). Though modest in appearance, it offers five spacious rooms across two levels - some without built-in closets, true to its historic character. The private backyard provides a peaceful setting for relaxing or entertaining. Schedule your private showing today and experience this Main Street treasure for yourself.

20. 2025-10-13
    listed $110,000 Active 600-char remark

    Show marketing remark (600 chars)

    Located right on Main Street, the historic Lucero House carries generations of memories and small-town charm. Lovingly maintained and previously used as a short-term rental, this home is move-in ready with only cosmetic updates to make it your own (buyer to verify local STR regulations). Though modest in appearance, it offers five spacious rooms across two levels - some without built-in closets, true to its historic character. The private backyard provides a peaceful setting for relaxing or entertaining. Schedule your private showing today and experience this Main Street treasure for yourself.

21. 2016-09-29
    historical
22. 2015-09-30
    listed $70,000

ⓘ 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: $793 · $66/mo
• Projected year-2 tax: $793 · $66/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 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥83°F today · 21 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: $15,629
• − Mortgage interest: −$5,321
• − Property taxes: −$793
• − Insurance: −$475
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − Depreciation: −$2,764
• Taxable income: $3,775
• Est. tax owed @ 24.0%: −$906
• After-tax cash flow: $4,194/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: Centennial School District No. R-1
• NCES district ID: 0806360
• Math proficiency: 6% ▬ 0.00%
• Reading proficiency: 20% ▲ 5.00%
• Median HH income: $25,969
• Composite: 13.32/100
• National rank: #14505
• State rank: #168 of 176 in CO

Livability — San Luis

• Score: 56/100
• State rank: #321
• US rank: #22383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Luis, CO
• Population (ZIP): 1,203

Population outlook (Costilla County) Hauer SSP2

• Today (2025): 3,560 people
• By 2030: 3,524 · -1.0%
• By 2040: 3,393 · -4.7%
• By 2050: 3,226 · -9.4%
• By 2075: 3,027 · -15.0%
• By 2100: 2,637 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 30% Two or more races 23% Native American 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 5% Hispanic 4% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 63% English-only · Spanish 37% Other Asian/Pacific 1%

Political lean MEDSL · Costilla

• 2024 margin: D (+14.7) · D 55.5% · R 40.9% · Other 3.6%
• 2008→2024 swing: -34.2pp toward R · 2008: 48.9pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+27.2 2016: D+29.0 2012: D+48.6 2008: D+48.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.60%
• Current HPI: 119.7764
• 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

+35.7% since first listed

6 events — show timeline

• 2026-02-17 Price Changed $95,000 IRES
• 2026-02-17 Price Changed $95,000 REColorado as Distributed by MLS Grid
• 2025-10-13 Listed $110,000 REColorado as Distributed by MLS Grid
• 2025-10-13 Listed $110,000 IRES
• 2016-09-29 Listing Removed — REColorado as Distributed by MLS Grid
• 2015-09-30 Listed $70,000 REColorado as Distributed by MLS Grid

Property tax history

+12.7%/yr

Latest (2025): $793 · +41.4% YoY. Source: county tax records.