426 Poplar Ave

Las Animas, CO 81054

$115,000B-

3 bd · 2.0 ba · 1,961 sqft · Built 1952 · SingleFamily · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,267/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $301/mo
• Annual: $3,615/yr
• Cap rate: 9.44%
• Cash-on-cash: 11.23%
• DSCR: 1.50
• 1% rule: 1.10%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• It's been on market 48 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#89 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A; Watch: health & safety C-, amenities F, employment F.
• Las Animas School District No. Re-1 (town): math 14% / reading 30% proficiency, ranked #76 of 86 in CO (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Las Animas Elementary School (math 27% / reading 32%, grade F, #512 of 966 statewide, top 55%, 246 students, 68% FRL); Las Animas Junior High School (math 24% / reading 30%, grade F, #150 of 270 statewide, top 57%, 90 students, 69% FRL); Las Animas High School (math 30% / reading 50%, grade F, #167 of 381 statewide, top 46%, 118 students, 58% FRL) — zoned schools at 65% FRL track the district average.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 37 active listings in the ZIP; 6 units permitted in Bent County in 2024 (0 in 5+ unit buildings).
• Bent County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.4% vs local median 5.4% in Las Animas — 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 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.