509 Oak St · Lamar, CO 81052

$74,000

2 bd · 1.0 ba · 736 sqft · SingleFamily public records · 18 Days on market

Built 1902 7,000 sqft lot Est $51k · 46% over ↓ 38% since listing

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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 +23.9/30.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Calling for someone who would like to make some sweat equity. Call today to see this cute fixer with two bedrooms and one bath. You will love the efficient floor plan, large lot, cute curb appeal, and location.

Key facts

• 7,000 sq ft lot
• Built 1902
• Listed 18 days

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Frame construction; Composition roof; About 2000s-era size: 809 above-grade finished (listed for reference)
• Exterior features: Covered patio/porch

Interior

• Kitchen: Range; Oven; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Master bedroom on the main level; No fireplace
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($829 rent vs $74k).
• Recommended offer: $73k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.2% in Lamar — 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 78/100 on livability (#21 in CO, #2,616 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Lamar School District No. Re-2 (town): math 19% / reading 34% proficiency, ranked #65 of 86 in CO (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 49 active listings in the ZIP; 11 units permitted in Prowers County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $512 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Prowers County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,890 (1.5% below list)

Questions for the listing agent

1. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.29%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $50,784
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 S 10th St	0.39mi	2/1.0	720 (-2%)	10mo	$115,000	$160	70
108 N 9th St	0.35mi	2/1.0	781 (+6%)	24mo	$54,000	$69	53
810 S 9th St	0.32mi	1/1.0 (-1)	672 (-9%)	15mo	$33,500	$50	53

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-2,859
• Equity at exit: $11,034

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $9,303
• Equity at exit: $6,398

Cash invested: $20,720 (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 81052

• Home prices YoY: -22.6%
• Active inventory: 49
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $829 medium
• Mortgage (P&I): −$388
• Tax est. 1.5%: −$92 /mo · $1,110/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$174
• Net cashflow: $143

Break-even live

Break-even rent $647

Max offer price $74,000

Occupancy floor 78%

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: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-11
   status Pending
2. 2026-04-23
   listed $74,000 Active
3. 2022-01-17
   soldstatus $120,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $9,943
• − Mortgage interest: −$4,145
• − Property taxes: −$1,110
• − Insurance: −$370
• − Repairs & maintenance: −$795
• − Management: −$795
• − Depreciation: −$2,153
• Taxable income: $574
• Est. tax owed @ 24.0%: −$138
• After-tax cash flow: $1,580/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: Lamar School District No. Re-2
• NCES district ID: 0805220
• Math proficiency: 19% ▼ -7.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $36,602
• Composite: 21.96/100
• National rank: #8216
• State rank: #65 of 86 in CO

Livability — Lamar

• Score: 78/100
• State rank: #21
• US rank: #2616

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lamar, CO
• Population (ZIP): 9,010

Population outlook (Prowers County) Hauer SSP2

• Today (2025): 10,654 people
• By 2030: 9,902 · -7.1%
• By 2040: 8,419 · -21.0%
• By 2050: 7,122 · -33.2%
• By 2075: 4,648 · -56.4%
• By 2100: 2,900 · -72.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Hispanic / Latino 41% Two or more races 15% Native American 1%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Portuguese 2% Slovak 1% Iranian 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 16%

Political lean MEDSL · Prowers

• 2024 margin: Solid R (+50.7) · D 23.9% · R 74.5% · Other 1.6%
• 2008→2024 swing: -16.9pp toward R · 2008: -33.7pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+45.9 2016: R+46.9 2012: R+35.4 2008: R+33.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.59%
• Current HPI: 279.7054
• 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

-38.3% since first listed

3 events — show timeline

• 2026-05-11 Pending — PARMLS
• 2026-04-23 Listed $74,000 PARMLS
• 2022-01-17 Sold (Public Records) $120,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $83 · +15.1% YoY. Source: county tax records.