7325 Boyer Rd · Fort Garland, CO 81133

$39,000

1 bd · 1.0 ba · 480 sqft · SingleFamily public records · 17 Days on market

Built 2011 5.06 ac 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.4/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Manifest the ultimate opportunity to create your dream retreat with this unfinished cabin nestled in the breathtaking foothills of the Sangre de Cristo mountain range. Located in the desirable Sangre de Cristo Ranches Subdivision, this property offers a blank canvas for you to design and finish to your personal taste. Surrounded by a wealth of recreational activities, you can enjoy fishing and boating at Mountain Home Reservoir and Smith Reservoir, as well as hiking, biking, and hunting in the stunning landscapes nearby. With the Great Sand Dunes National Park and Preserve just a short drive away, your outdoor adventures are limitless. Embrace the chance to own a piece of Colorado paradise

Key facts

• Smith reservoir
• 5.06 acre lot
• Built 2011

Tags

• MOUNTAIN HOME RESERVOIR
• SMITH RESERVOIR

Property features AI

Finance

• Other: Lot size approximately 5.06 acres
• Financial info: Pets allowed

Exterior

• Utilities: Cistern water; Septic tank sewer; Cellular phone reception
• Home design: Single-story; Residential single family; Possible residential or recreational use
• Construction: Wood siding; Wood frame construction; Stick built; Metal roof
• Exterior features: Shed(s); Property has a view; Located on a cul-de-sac; Foothills setting; Wooded lot; Off-grid characteristic; County road frontage; Dirt road access

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Wood heating; Wood stove
• Interior features: Unfurnished; Other interior features

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($956 rent vs $39k).
• Recommended offer: $38k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 1.7% in Fort Garland — 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 54/100 on livability (#364 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.
• Sierra Grande School District No. R-30 (rural): math 20% / reading 25% proficiency, ranked #148 of 176 in CO (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 591 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-1.2%/yr); year-one equity from $270 of loan paydown is wiped out by about $457 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 (-1.2% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $5k; list at $39k implies a 680% gain — meaningful room to come down on a strong offer.

Recommended offer $38,415 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 2.45% ✓
• Cap rate: 21.33%
• Cash-on-cash: 53.70%
• DSCR: 3.39
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.9%
• Equity multiple: 3.55×
• Total profit: $27,897
• Equity at exit: $9,094

10-year hold

• IRR: 57.4%
• Equity multiple: 7.16×
• Total profit: $67,287
• Equity at exit: $9,280

Cash invested: $10,920 (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 81133

• Home prices YoY: -0.7%
• Active inventory: 591
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $956 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$46 /mo · $554/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $489

Break-even live

Break-even rent $338

Max offer price $39,000

Occupancy floor 44%

Sensitivity live

Price	-10% $511	-5% $500	+0% $489	+5% $478	+10% $467
Rent	-10% $413	-5% $451	+0% $489	+5% $526	+10% $564
Rate	-1.0pp $508	-0.5pp $499	base $489	+0.5pp $479	+1.0pp $468

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $39,000 Active 17 DOM
2. 2026-06-17
   days on market $39,000 Active 16 DOM
3. 2026-06-16
   days on market $39,000 Active 15 DOM
4. 2026-06-15
   days on market $39,000 Active 14 DOM
5. 2026-06-14
   days on market $39,000 Active 12 DOM
6. 2026-06-13
   days on market $39,000 Active 11 DOM
7. 2026-06-10
   days on market $39,000 Active 9 DOM
8. 2026-06-09
   days on market $39,000 Active 8 DOM
9. 2026-06-08
   days on market $39,000 Active 7 DOM
10. 2026-06-07
    days on market $39,000 Active 6 DOM
11. 2026-06-05
    days on market $39,000 Active 3 DOM
12. 2026-06-03
    days on market $39,000 Active 2 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-06-02
    listed $39,000 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: $554 · $46/mo
• Projected year-2 tax: $554 · $46/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 8 d/yr ≥82°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,477
• − Mortgage interest: −$2,185
• − Property taxes: −$554
• − Insurance: −$195
• − Repairs & maintenance: −$918
• − Management: −$918
• − Depreciation: −$1,135
• Taxable income: $5,573
• Est. tax owed @ 24.0%: −$1,337
• After-tax cash flow: $4,526/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: Sierra Grande School District No. R-30
• NCES district ID: 0804140
• Math proficiency: 20% ▲ 10.00%
• Reading proficiency: 25% ▲ 10.00%
• Median HH income: $34,865
• Composite: 21.67/100
• National rank: #13595
• State rank: #148 of 176 in CO

Livability — Fort Garland

• Score: 54/100
• State rank: #364
• US rank: #24220

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,056

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 54% Hispanic / Latino 38% Two or more races 26% Black 4%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Russian 8% Serbian 7% Italian 6%
• Foreign-born: 5% · Canada
• Languages at home: 85% English-only · Spanish 14% German/W. Germanic 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: ▼ -1.17%
• Current HPI: 162.9232
• 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

+680.0% since first listed

2 events — show timeline

• 2026-06-01 Listed $39,000 cren
• 2005-09-07 Sold (Public Records) $5,000 Public Records

Property tax history

+11.4%/yr

Latest (2025): $554 · +6.8% YoY. Source: county tax records.