502 W Washington St · Trinidad, CO 81082

$100,000

3 bd · 1.0 ba · 1,048 sqft · SingleFamily public records · 264 Days on market

Built 1904 2,842 sqft lot Est $149k · 33% under ↓ 32% since listing

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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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +5.6/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

Key facts

• Shed for storage
• Backyard
• Convenient location

Tags

• BACKYARD
• SHED FOR STORAGE
• HOME OFFICE
• HOBBY SPACE
• OUTDOOR OASIS
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.1% in Trinidad — 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 58/100 on livability (#303 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime F, amenities F.
• Trinidad School District 1 In The County Of Las Animas And (town): math 6% / reading 27% proficiency, ranked #82 of 86 in CO (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 263 active listings in the ZIP; 43 units permitted in Las Animas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Las Animas County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 264 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y ago; this cycle's ask has dropped $50k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 264 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
7. 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.
8. 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.
9. 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: 1.06% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.03%
• DSCR: 1.45
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $148,816
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
619 W Washington Ave	0.09mi	2/1.0 (-1)	1,075 (+3%)	1mo	$179,000	$167	86
609 W Washington Ave	0.07mi	2/1.0 (-1)	1,115 (+6%)	2mo	$204,500	$183	80
402 College St	0.58mi	3/2.0	1,054 (+1%)	6mo	$196,000	$186	63
728 W Adams St	0.26mi	2/1.0 (-1)	1,135 (+8%)	8mo	$45,000	$40	62
212 W 3rd St	0.19mi	2/1.0 (-1)	900 (-14%)	15mo	$128,000	$142	50
409 S Oak St	0.62mi	2/2.5 (-1)	1,134 (+8%)	4mo	$150,000	$132	44
404 S Spruce Ave	0.58mi	3/1.0	1,194 (+14%)	14mo	$33,000	$28	38
813 Smith Ave	0.72mi	3/1.0	1,196 (+14%)	14mo	$115,000	$96	31

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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-1,332
• Equity at exit: $14,910

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $17,881
• Equity at exit: $8,646

Cash invested: $28,000 (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 81082

• Home prices YoY: -21.1%
• Active inventory: 263
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,057 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$35 /mo · $416/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $234

Break-even live

Break-even rent $760

Max offer price $100,000

Occupancy floor 73%

Sensitivity live

Price	-10% $291	-5% $262	+0% $234	+5% $206	+10% $178
Rent	-10% $151	-5% $192	+0% $234	+5% $276	+10% $318
Rate	-1.0pp $284	-0.5pp $260	base $234	+0.5pp $208	+1.0pp $182

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-04-14
   status Pending

   Show marketing remark (666 chars)

   Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

2. 2026-04-14
   status Pending 666-char remark

   Show marketing remark (666 chars)

   Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

3. 2026-04-06
   price $100,000 666-char remark

   Show marketing remark (666 chars)

   Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

4. 2026-04-06
   price $100,000

   Show marketing remark (666 chars)

   Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

5. 2026-03-07
   price $125,000

   Show marketing remark (666 chars)

   Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

6. 2026-03-07
   price $125,000 666-char remark

   Show marketing remark (666 chars)

   Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

7. 2026-02-03
   price $140,000 666-char remark

   Show marketing remark (666 chars)

   Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

8. 2026-02-03
   price $140,000

   Show marketing remark (666 chars)

   Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

9. 2025-09-12
   price $145,000 666-char remark

   Show marketing remark (666 chars)

   Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

10. 2025-09-12
    price $145,000

    Show marketing remark (666 chars)

    Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

11. 2025-07-24
    listed $150,000 Active 666-char remark

    Show marketing remark (666 chars)

    Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

12. 2025-07-24
    listed $150,000 Active

    Show marketing remark (666 chars)

    Subject to Short Sale Approval. Discover the charm and space this 2-bedroom home in Trinidad has to offer. With generously sized rooms throughout, you'll have plenty of room to spread out, whether you're relaxing in the living area or setting up a home office or hobby space. The backyard offers additional potential with a shed for storage or projects, and there's still room to create your own outdoor oasis. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, this home offers a solid foundation in a convenient location. Call to schedule your showing! Virtual Tour: https://my. matterport.com/show/ ?m=RGxdTnfPwhu & mls=1

13. 2025-07-14
    historical
14. 2025-06-22
    price $160,000
15. 2025-06-22
    price $160,000
16. 2025-06-22
    price $160,000
17. 2025-05-14
    price $167,000
18. 2025-05-14
    price $167,000
19. 2025-05-14
    price $167,000
20. 2025-03-26
    price $179,910
21. 2025-03-26
    price $179,910
22. 2025-03-26
    price $179,910
23. 2025-02-14
    listed $200,000 Active
24. 2025-02-14
    listed $200,000 Active
25. 2025-02-14
    listed $200,000 Active
26. 2023-07-18
    soldstatus $140,000
27. 2023-07-17
    soldstatus $140,000 Closed
28. 2023-06-20
    status Pending
29. 2023-04-22
    status Active
30. 2023-04-05
    listed Active Under Contract
31. 2023-03-20
    listed $147,500

ⓘ 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: $416 · $35/mo
• Projected year-2 tax: $550 · $46/mo
• Expected delta: +$134/yr (+$11/mo · 32.3%)

ⓘ 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 3/10 Moderate 8 d/yr ≥89°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,681
• − Mortgage interest: −$5,602
• − Property taxes: −$416
• − Insurance: −$500
• − Repairs & maintenance: −$1,015
• − Management: −$1,015
• − Depreciation: −$2,909
• Taxable income: $1,226
• Est. tax owed @ 24.0%: −$294
• After-tax cash flow: $2,515/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: Trinidad School District 1 In The County Of Las Animas And
• NCES district ID: 0806960
• Math proficiency: 6% ▼ -9.00%
• Reading proficiency: 27% ▼ -3.00%
• Median HH income: $37,538
• Composite: 13.74/100
• National rank: #9493
• State rank: #82 of 86 in CO

Livability — Trinidad

• Score: 58/100
• State rank: #303
• US rank: #21409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trinidad, CO
• Population (ZIP): 11,750

Population outlook (Las Animas County) Hauer SSP2

• Today (2025): 12,072 people
• By 2030: 10,972 · -9.1%
• By 2040: 8,825 · -26.9%
• By 2050: 7,245 · -40.0%
• By 2075: 5,139 · -57.4%
• By 2100: 3,922 · -67.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 53% Hispanic / Latino 41% Two or more races 18% Native American 4% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 90% English-only · Spanish 8% Other Asian/Pacific 1%

Political lean MEDSL · Las Animas

• 2024 margin: R (+13.5) · D 42.0% · R 55.5% · Other 2.4%
• 2008→2024 swing: -20.5pp toward R · 2008: 7.0pp · 2024: -13.5pp
• All cycles: 2024: R+13.5 2020: R+9.9 2016: R+15.6 2012: D+2.7 2008: D+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.04%
• Current HPI: 258.5479
• 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

-32.2% since first listed

31 events — show timeline

• 2026-04-14 Pending — PARMLS
• 2026-04-14 Pending — SPMLS
• 2026-04-06 Price Changed $100,000 SPMLS
• 2026-04-06 Price Changed $100,000 PARMLS
• 2026-03-07 Price Changed $125,000 PARMLS
• 2026-03-07 Price Changed $125,000 SPMLS
• 2026-02-03 Price Changed $140,000 SPMLS
• 2026-02-03 Price Changed $140,000 PARMLS
• 2025-09-12 Price Changed $145,000 SPMLS
• 2025-09-12 Price Changed $145,000 PARMLS
• 2025-07-24 Listed $150,000 SPMLS
• 2025-07-24 Listed $150,000 PARMLS
• 2025-07-14 Listing Removed — cren
• 2025-06-22 Price Changed $160,000 PARMLS
• 2025-06-22 Price Changed $160,000 SPMLS
• 2025-06-22 Price Changed $160,000 cren
• 2025-05-14 Price Changed $167,000 SPMLS
• 2025-05-14 Price Changed $167,000 PARMLS
• 2025-05-14 Price Changed $167,000 cren
• 2025-03-26 Price Changed $179,910 PARMLS
• 2025-03-26 Price Changed $179,910 SPMLS
• 2025-03-26 Price Changed $179,910 cren
• 2025-02-14 Listed $200,000 SPMLS
• 2025-02-14 Listed $200,000 PARMLS
• 2025-02-14 Listed $200,000 cren
• 2023-07-18 Sold (Public Records) $140,000 Public Records
• 2023-07-17 Sold (MLS) $140,000 SPMLS
• 2023-06-20 Pending — SPMLS
• 2023-04-22 Relisted — SPMLS
• 2023-04-05 Listed — SPMLS
• 2023-03-20 Listed $147,500 SPMLS

Property tax history

+5.6%/yr

Latest (2025): $416 · +220.6% YoY. Source: county tax records.