909 Morton St · Monte Vista, CO 81144

$70,000

5 bd · 1.0 ba · 1,740 sqft · SingleFamily public records · 13 Days on market

Built 1961

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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
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property features a large lot with utilities. The home is functional and has been lived in recently but is a project and will need a lot of work. Cash buyers only

Key facts

• Built 1961
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $651 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 17.4% vs local median 2.8% in Monte Vista — 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 67/100 on livability (#123 in CO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime F, amenities F.
• Monte Vista School District No. C-8 (town): math 14% / reading 30% proficiency, ranked #75 of 86 in CO (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 44 active listings in the ZIP; 47 units permitted in Rio Grande County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rio Grande County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $35k; list at $70k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1961 — 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. 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?
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: 2.01% ✓
• Cap rate: 17.45%
• Cash-on-cash: 39.84%
• DSCR: 2.77
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $307,980
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 Morton	0.00mi	4/1.0 (-1)	1,740 (0%)	18mo	$35,000	$20	80
234 Dunham St	0.68mi	4/2.0 (-1)	1,558 (-10%)	9mo	$275,000	$177	34
750 Lyell St	0.74mi	4/2.0 (-1)	1,482 (-15%)	12mo	$275,000	$186	22

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: 36.2%
• Equity multiple: 2.54×
• Total profit: $30,109
• Equity at exit: $10,437

10-year hold

• IRR: 42.9%
• Equity multiple: 5.06×
• Total profit: $79,613
• Equity at exit: $6,052

Cash invested: $19,600 (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 81144

• Home prices YoY: -12.2%
• Active inventory: 44
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,406 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$64 /mo · $770/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $651

Break-even live

Break-even rent $583

Max offer price $70,000

Occupancy floor 49%

Sensitivity live

Price	-10% $690	-5% $671	+0% $651	+5% $631	+10% $611
Rent	-10% $540	-5% $595	+0% $651	+5% $706	+10% $762
Rate	-1.0pp $686	-0.5pp $669	base $651	+0.5pp $633	+1.0pp $614

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $70,000 Active 13 DOM
2. 2026-06-17
   days on market $70,000 Active 12 DOM
3. 2026-06-16
   days on market $70,000 Active 11 DOM
4. 2026-06-15
   days on market $70,000 Active 10 DOM
5. 2026-06-14
   days on market $70,000 Active 8 DOM
6. 2026-06-13
   days on market $70,000 Active 7 DOM
7. 2026-06-10
   days on market $70,000 Active 5 DOM
8. 2026-06-09
   days on market $70,000 Active 4 DOM
9. 2026-06-08
   days on market $70,000 Active 3 DOM
10. 2026-06-07
    remarks 42-char remark
11. 2026-06-07
    listed $70,000 Active 2 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: $770 · $64/mo
• Projected year-2 tax: $770 · $64/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 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥84°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,878
• − Mortgage interest: −$3,921
• − Property taxes: −$770
• − Insurance: −$350
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$2,036
• Taxable income: $7,100
• Est. tax owed @ 24.0%: −$1,704
• After-tax cash flow: $6,105/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: Monte Vista School District No. C-8
• NCES district ID: 0805760
• Math proficiency: 14% ▲ 1.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $38,489
• Composite: 18.41/100
• National rank: #8936
• State rank: #75 of 86 in CO

Livability — Monte Vista

• Score: 67/100
• State rank: #123
• US rank: #10457

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monte Vista, CO
• Population (ZIP): 6,677

Population outlook (Rio Grande County) Hauer SSP2

• Today (2025): 10,470 people
• By 2030: 9,925 · -5.2%
• By 2040: 8,774 · -16.2%
• By 2050: 7,772 · -25.8%
• By 2075: 6,080 · -41.9%
• By 2100: 4,093 · -60.9%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Hispanic / Latino 50% White 45% Two or more races 18% Native American 5%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Italian 5% Slovak 2% Portuguese 1%
• Foreign-born: 6% · Canada
• Languages at home: 79% English-only · Spanish 20% German/W. Germanic 1%

Political lean MEDSL · Rio Grande

• 2024 margin: Strong R (+23.2) · D 37.2% · R 60.4% · Other 2.3%
• 2008→2024 swing: -14.3pp toward R · 2008: -8.8pp · 2024: -23.2pp
• All cycles: 2024: R+23.2 2020: R+18.5 2016: R+19.6 2012: R+8.5 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.90%
• Current HPI: 244.4359
• 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

+225.6% since first listed

8 events — show timeline

• 2026-06-06 Listed $70,000 FSBO.com
• 2024-12-31 Sold (MLS) $35,000 cren
• 2024-12-06 Relisted — cren
• 2024-08-06 Listed $50,000 cren
• 2007-06-12 Sold (MLS) $21,500 cren
• 2007-06-12 Sold (MLS) $21,500 REColorado as Distributed by MLS Grid
• 2006-05-04 Listed $21,500 cren
• 2006-05-04 Listed $21,500 REColorado as Distributed by MLS Grid

Property tax history

+7.9%/yr

Latest (2025): $770 · +226.3% YoY. Source: county tax records.