13 Modoc St · Ward, CO 80481

$199,000

2 bd · 1.0 ba · 1,796 sqft · SingleFamily public records · 3 Days on market

Built 1920 3,219 sqft lot

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Why this score? — see what drove the C- 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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Schools +5.1/10.0
• 1% rule +4.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Escape to the mountains in this authentic Colorado retreat in historic Ward with beautiful views. This 2-bedroom, 1,796 sq ft home sits on a 3,219 sq ft lot surrounded by aspens, pines, and the beauty of the Arapaho National Forest. The property offers a rare opportunity to create your dream mountain getaway with a newer roof and patio already in place. Ready to live in or improve, property needs full interior and exterior remodel but is livable. Served by the Town of Ward's renowned spring-fed water system, you'll enjoy some of the purest, best-tasting water in Colorado right from the tap. Buyers should note that the home includes a functioning indoor shower/bath but no traditional indoor toilet; instead, it utilizes a functional greywater system, a setup not uncommon in the area. Due to this unique feature, the property will likely require a cash purchase. Located just minutes from Brainard Lake, the Indian Peaks Wilderness, and Eldora Mountain Resort, outdoor recreation is endless with hiking, skiing, biking, fishing, and wildlife viewing nearby. Nederland is about 20 minutes away and Boulder is approximately 30 minutes from the property. If you're looking for a genuine mountain home with character, privacy, and incredible access to Colorado's high country, this property is ready for its next chapter. Property sold AS-IS. Seller has an equitable interest in the property. No Seller's Property Disclosure is available, as seller has not occupied the property.

Key facts

• Newer roof
• Beautiful views
• 3,219 sq ft lot

Tags

• BEAUTIFUL VIEWS
• NEWER ROOF
• SPRING-FED WATER SYSTEM
• FUNCTIONING INDOOR SHOWER
• FUNCTIONAL GREYWATER SYSTEM

Property features AI

Exterior

• Parking: Two off-street parking spaces (total 2)
• Utilities: Sewer: holding tank
• Home design: Single-family residence; Two levels; Unattached property
• Construction: Frame construction; Composition roof; House structure
• Exterior features: Public water

Interior

• Bedrooms: Two bedrooms on the upper level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Wood stove heating
• Interior features: Fixer condition

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (2.7% below list).
• Recommended offer: $194k (2.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 45/100 on livability (#430 in CO) — a working-class tenant base; expect higher turnover. Watch: crime F, amenities F, commute F.
• Boulder Valley School District No. Re2 (urban): math 49% / reading 67% proficiency, ranked #6 of 86 in CO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Nederland Elementary School (math 50% / reading 54%, grade C-, #174 of 966 statewide, top 20%, 193 students, 32% FRL); Nederland Middle-Senior High School (math 24% / reading 54%, grade F, #176 of 381 statewide, top 49%, 260 students, 34% FRL) — zoned schools average 33% FRL vs 16% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 46% at this address vs 58% district-wide (-12 pts) — the specific schools serving this property underperform the Boulder Valley School District No. Re2 average; the district grade overstates school quality for this exact location.
• Market conditions: 16 active listings in the ZIP; 1,688 units permitted in Boulder County in 2024 (1,136 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Boulder County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $118k; list at $199k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,633 (2.7% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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: 0.97% ✗
• Cap rate: 8.13%
• Cash-on-cash: 6.57%
• DSCR: 1.29
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $524,432
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
57 Nelson St	0.09mi	3/1.0 (+1)	1,752 (-2%)	4mo	$512,000	$292	84

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-12,885
• Equity at exit: $29,672

10-year hold

• IRR: 3.4%
• Equity multiple: 1.24×
• Total profit: $13,536
• Equity at exit: $17,206

Cash invested: $55,720 (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 80481

• Home prices YoY: -16.0%
• Active inventory: 16
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,936 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$98 /mo · $1,179/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $305

Break-even live

Break-even rent $1,550

Max offer price $199,000

Occupancy floor 79%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $199,000 Active 3 DOM
2. 2026-06-17
   days on market $199,000 Active 2 DOM
3. 2026-06-16
   price $199,000 Active 1 DOM

   Show marketing remark (1489 chars)

   Escape to the mountains in this authentic Colorado retreat in historic Ward with beautiful views. This 2-bedroom, 1,796 sq ft home sits on a 3,219 sq ft lot surrounded by aspens, pines, and the beauty of the Arapaho National Forest. The property offers a rare opportunity to create your dream mountain getaway with a newer roof and patio already in place. Ready to live in or improve, property needs full interior and exterior remodel but is livable. Served by the Town of Ward's renowned spring-fed water system, you'll enjoy some of the purest, best-tasting water in Colorado right from the tap. Buyers should note that the home includes a functioning indoor shower/bath but no traditional indoor toilet; instead, it utilizes a functional greywater system, a setup not uncommon in the area. Due to this unique feature, the property will likely require a cash purchase. Located just minutes from Brainard Lake, the Indian Peaks Wilderness, and Eldora Mountain Resort, outdoor recreation is endless with hiking, skiing, biking, fishing, and wildlife viewing nearby. Nederland is about 20 minutes away and Boulder is approximately 30 minutes from the property. If you're looking for a genuine mountain home with character, privacy, and incredible access to Colorado's high country, this property is ready for its next chapter. Property sold AS-IS. Seller has an equitable interest in the property. No Seller's Property Disclosure is available, as seller has not occupied the property.

4. 2026-06-16
   remarks 699-char remark

   Show marketing remark (1489 chars)

   Escape to the mountains in this authentic Colorado retreat in historic Ward with beautiful views. This 2-bedroom, 1,796 sq ft home sits on a 3,219 sq ft lot surrounded by aspens, pines, and the beauty of the Arapaho National Forest. The property offers a rare opportunity to create your dream mountain getaway with a newer roof and patio already in place. Ready to live in or improve, property needs full interior and exterior remodel but is livable. Served by the Town of Ward's renowned spring-fed water system, you'll enjoy some of the purest, best-tasting water in Colorado right from the tap. Buyers should note that the home includes a functioning indoor shower/bath but no traditional indoor toilet; instead, it utilizes a functional greywater system, a setup not uncommon in the area. Due to this unique feature, the property will likely require a cash purchase. Located just minutes from Brainard Lake, the Indian Peaks Wilderness, and Eldora Mountain Resort, outdoor recreation is endless with hiking, skiing, biking, fishing, and wildlife viewing nearby. Nederland is about 20 minutes away and Boulder is approximately 30 minutes from the property. If you're looking for a genuine mountain home with character, privacy, and incredible access to Colorado's high country, this property is ready for its next chapter. Property sold AS-IS. Seller has an equitable interest in the property. No Seller's Property Disclosure is available, as seller has not occupied the property.

5. 2026-06-16
   listed $189,000 Active 1 DOM

   Show marketing remark (1489 chars)

   Escape to the mountains in this authentic Colorado retreat in historic Ward with beautiful views. This 2-bedroom, 1,796 sq ft home sits on a 3,219 sq ft lot surrounded by aspens, pines, and the beauty of the Arapaho National Forest. The property offers a rare opportunity to create your dream mountain getaway with a newer roof and patio already in place. Ready to live in or improve, property needs full interior and exterior remodel but is livable. Served by the Town of Ward's renowned spring-fed water system, you'll enjoy some of the purest, best-tasting water in Colorado right from the tap. Buyers should note that the home includes a functioning indoor shower/bath but no traditional indoor toilet; instead, it utilizes a functional greywater system, a setup not uncommon in the area. Due to this unique feature, the property will likely require a cash purchase. Located just minutes from Brainard Lake, the Indian Peaks Wilderness, and Eldora Mountain Resort, outdoor recreation is endless with hiking, skiing, biking, fishing, and wildlife viewing nearby. Nederland is about 20 minutes away and Boulder is approximately 30 minutes from the property. If you're looking for a genuine mountain home with character, privacy, and incredible access to Colorado's high country, this property is ready for its next chapter. Property sold AS-IS. Seller has an equitable interest in the property. No Seller's Property Disclosure is available, as seller has not occupied the property.

ⓘ 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: $1,179 · $98/mo
• Projected year-2 tax: $1,179 · $98/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 1/10 Low 3 d/yr ≥80°F today · 7 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,236
• − Mortgage interest: −$11,147
• − Property taxes: −$1,179
• − Insurance: −$995
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − Depreciation: −$5,789
• Taxable income: $408
• Est. tax owed @ 24.0%: −$98
• After-tax cash flow: $3,562/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: Boulder Valley School District No. Re2
• NCES district ID: 0802490
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 67% ▲ 4.00%
• Median HH income: $70,395
• Composite: 51.3/100
• National rank: #1747
• State rank: #6 of 86 in CO

Livability — Ward

• Score: 45/100
• State rank: #430
• US rank: #26656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ward, CO
• Population (ZIP): 477

Population outlook (Boulder County) Hauer SSP2

• Today (2025): 380,833 people
• By 2030: 412,028 · +8.2%
• By 2040: 472,764 · +24.1%
• By 2050: 532,029 · +39.7%
• By 2075: 679,723 · +78.5%
• By 2100: 766,278 · +101.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Asian 2% Two or more races 2%
• Common ancestry: Romanian 8% Lithuanian 5% Slovak 5%
• Foreign-born: 3% · South Korea
• Languages at home: 96% English-only · German/W. Germanic 2% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Boulder

• 2024 margin: Solid D (+55.8) · D 76.5% · R 20.8% · Other 2.7%
• 2008→2024 swing: +9.6pp toward D · 2008: 46.1pp · 2024: 55.8pp
• All cycles: 2024: D+55.8 2020: D+56.6 2016: D+48.6 2012: D+41.5 2008: D+46.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.34%
• Current HPI: 227.9893
• 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

+347.2% since first listed

11 events — show timeline

• 2026-06-16 Price Changed $199,000 IRES
• 2026-06-16 Price Changed $199,000 REColorado as Distributed by MLS Grid
• 2026-06-15 Listed $189,000 REColorado as Distributed by MLS Grid
• 2026-06-15 Listed $189,000 IRES
• 1999-08-03 Sold (Public Records) $118,000 Public Records
• 1999-07-30 Sold (MLS) $118,000 IRES
• 1999-06-09 Listed $118,000 IRES
• 1995-10-31 Sold (Public Records) $91,000 Public Records
• 1994-11-15 Sold (Public Records) $80,000 Public Records
• 1994-09-02 Sold (Public Records) $80,000 Public Records
• 1988-03-01 Sold (Public Records) $44,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,179 · +24.8% YoY. Source: county tax records.