426 3rd St · Hugo, CO 80821

$135,000

2 bd · 1.0 ba · 1,485 sqft · SingleFamily public records · 35 Days on market

Built 1920 7,000 sqft lot Est $266k · 49% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• Appreciation +8.3/10.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Charming opportunity in the heart of Hugo! This 3-bedroom, 1-bath home also features a second bathroom currently in the process of being installed, offering even more potential for future value. The exterior of the home is in fantastic condition, and the fully fenced backyard provides a wonderful space for pets, gardening, entertaining, or simply relaxing outdoors. A standout feature is the oversized two-car garage, perfect for extra storage, a workshop, hobby space, or additional parking. Inside, remodeling has already been started, giving the next owner a head start on bringing this home to life. While the renovation was not completed, the possibilities are endless for someone ready to add their own style and finishing touches. If you've ever dreamed of owning a fixer-upper with great bones and tons of potential, this could be the perfect project to create an adorable home full of character and charm! Call to schedule your showing!

Key facts

• 7,000 sq ft lot
• 2 garage spots
• Built 1920

Tags

• FULLY FENCED BACKYARD
• OVERSIZED TWO-CAR GARAGE

Property features AI

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Utilities: Public sewer
• Home design: Single-family residence; Two levels; Unattached property
• Construction: Built with cement siding and frame construction; Composition roof
• Exterior features: Public water

Interior

• Kitchen: Oven; Refrigerator; Standard kitchen appliances
• Bedrooms: 3 bedrooms (2 on the main level, 1 on the upper level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Washer and Dryer included; Oven; Refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-8 ($-98/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (19.7% below list).
• Recommended offer: $108k (19.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#42 in CO, #4,990 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools F, amenities F.
• Genoa-Hugo School District No. C-113 (rural): math 20% / reading 25% proficiency, ranked #143 of 176 in CO (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP; 8 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($933 loan paydown + $9k appreciation (6.7% local appreciation)).
• At projected returns (6.7% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $75k; list at $135k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,358 (19.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $265,815
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
722 6th St	0.38mi	3/2.0 (+1)	1,456 (-2%)	5mo	$175,900	$121	66
325 Roundhouse St	0.43mi	3/2.0 (+1)	1,492 (+0%)	14mo	$275,000	$184	59
215 6th St	0.36mi	3/2.0 (+1)	1,328 (-11%)	3mo	$250,000	$188	54
322 3rd St	0.11mi	3/2.0 (+1)	1,336 (-10%)	22mo	$183,300	$137	51
311 Silver St	0.66mi	3/2.0 (+1)	1,539 (+4%)	7mo	$275,000	$179	48
717 8th Ave	0.49mi	1/1.0 (-1)	1,344 (-10%)	23mo	$130,000	$97	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 2.16×
• Total profit: $43,806
• Equity at exit: $90,584

10-year hold

• IRR: 16.4%
• Equity multiple: 4.39×
• Total profit: $128,008
• Equity at exit: $169,446

Cash invested: $37,800 (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 80821

• Home prices YoY: 2.2%
• Active inventory: 10
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,084 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$100 /mo · $1,200/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $-8

Break-even live

Break-even rent $1,094

Max offer price $133,558

Occupancy floor 96%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $135,000 Active 35 DOM
2. 2026-06-17
   days on market $135,000 Active 34 DOM
3. 2026-06-16
   days on market $135,000 Active 33 DOM
4. 2026-06-15
   days on market $135,000 Active 32 DOM
5. 2026-06-13
   days on market $135,000 Active 30 DOM
6. 2026-06-12
   days on market $135,000 Active 29 DOM
7. 2026-06-09
   days on market $135,000 Active 26 DOM
8. 2026-06-08
   days on market $135,000 Active 25 DOM
9. 2026-06-07
   days on market $135,000 Active 24 DOM
10. 2026-06-07
    days on market $135,000 Active 23 DOM
11. 2026-06-04
    days on market $135,000 Active 20 DOM
12. 2026-06-02
    days on market $135,000 Active 19 DOM
13. 2026-06-01
    days on market $135,000 Active 18 DOM
14. 2026-05-31
    days on market $135,000 Active 17 DOM
15. 2026-05-31
    days on market $135,000 Active 16 DOM
16. 2026-05-14
    listed $135,000 Active 947-char remark

    Show marketing remark (947 chars)

    Charming opportunity in the heart of Hugo! This 3-bedroom, 1-bath home also features a second bathroom currently in the process of being installed, offering even more potential for future value. The exterior of the home is in fantastic condition, and the fully fenced backyard provides a wonderful space for pets, gardening, entertaining, or simply relaxing outdoors. A standout feature is the oversized two-car garage, perfect for extra storage, a workshop, hobby space, or additional parking. Inside, remodeling has already been started, giving the next owner a head start on bringing this home to life. While the renovation was not completed, the possibilities are endless for someone ready to add their own style and finishing touches. If you've ever dreamed of owning a fixer-upper with great bones and tons of potential, this could be the perfect project to create an adorable home full of character and charm! Call to schedule your showing!

17. 2026-05-14
    listed $135,000 Active 947-char remark

    Show marketing remark (947 chars)

    Charming opportunity in the heart of Hugo! This 3-bedroom, 1-bath home also features a second bathroom currently in the process of being installed, offering even more potential for future value. The exterior of the home is in fantastic condition, and the fully fenced backyard provides a wonderful space for pets, gardening, entertaining, or simply relaxing outdoors. A standout feature is the oversized two-car garage, perfect for extra storage, a workshop, hobby space, or additional parking. Inside, remodeling has already been started, giving the next owner a head start on bringing this home to life. While the renovation was not completed, the possibilities are endless for someone ready to add their own style and finishing touches. If you've ever dreamed of owning a fixer-upper with great bones and tons of potential, this could be the perfect project to create an adorable home full of character and charm! Call to schedule your showing!

18. 2001-11-06
    soldstatus $75,000
19. 1998-08-17
    soldstatus $51,000
20. 1994-05-24
    soldstatus $35,000
21. 1991-09-27
    soldstatus $35,000

ⓘ 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: $1,200 · $100/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,003
• − Mortgage interest: −$7,562
• − Property taxes: −$1,200
• − Insurance: −$675
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$3,927
• Taxable loss: −$2,442
• Est. tax savings @ 24.0%: +$586
• After-tax cash flow: $488/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: Genoa-Hugo School District No. C-113
• NCES district ID: 0804740
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 25% ▼ -15.00%
• Median HH income: $43,116
• Composite: 22.46/100
• National rank: #13461
• State rank: #143 of 176 in CO

Livability — Hugo

• Score: 73/100
• State rank: #42
• US rank: #4990

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hugo, CO
• Population (ZIP): 1,250

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 5,641 people
• By 2030: 5,650 · +0.2%
• By 2040: 5,679 · +0.7%
• By 2050: 5,657 · +0.3%
• By 2075: 5,431 · -3.7%
• By 2100: 4,258 · -24.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 9% Hispanic / Latino 4% Black 1%
• Common ancestry: Serbian 6% Romanian 5% Italian 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+64.5) · D 16.8% · R 81.3% · Other 1.9%
• 2008→2024 swing: -13.7pp toward R · 2008: -50.8pp · 2024: -64.5pp
• All cycles: 2024: R+64.5 2020: R+62.8 2016: R+61.4 2012: R+50.1 2008: R+50.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.66%
• Current HPI: 311.6723
• 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

+285.7% since first listed

6 events — show timeline

• 2026-05-14 Listed $135,000 IRES
• 2026-05-14 Listed $135,000 REColorado as Distributed by MLS Grid
• 2001-11-06 Sold (Public Records) $75,000 Public Records
• 1998-08-17 Sold (Public Records) $51,000 Public Records
• 1994-05-24 Sold (Public Records) $35,000 Public Records
• 1991-09-27 Sold (Public Records) $35,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,200 · +65.8% YoY. Source: county tax records.