906 Victor Ave

Goldfield, CO 80860

$49,000B

1 bd · None ba · 578 sqft · Built 1930 · SingleFamily · Active · 135 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $835/mo
• Mortgage (P&I): −$257
• Tax + insurance: −$33
• HOA: −$0
• Vac / Maint / Mgmt: −$175
• Net cashflow: $369/mo
• Annual: $4,433/yr
• Cap rate: 15.34%
• Cash-on-cash: 32.31%
• DSCR: 2.44
• 1% rule: 1.70%
• Cash to close: $13,720

Investor read

• This is a 1-bed/?-bath single-family listed at $49k.
• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($835 rent vs $49k).
• It's been on market 135 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($339 loan paydown + $840 appreciation (1.7% local appreciation)).
• Location reads 58/100 on livability (#288 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Cripple Creek-Victor School District No. Re-1 (rural): math 10% / reading 25% proficiency, ranked #157 of 176 in CO (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cresson Elementary School (math 10% / reading 54%, grade F, #469 of 966 statewide, top 49%, 137 students, 73% FRL); Cripple Creek-Victor Junior-Senior High School (math 12% / reading 24%, grade F, #337 of 381 statewide, top 88%, 176 students, 49% FRL).
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 21 active listings in the ZIP; 148 units permitted in Teller County in 2024 (0 in 5+ unit buildings).
• Teller County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 6y 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 $11k; list at $49k implies a 338% gain — meaningful room to come down on a strong offer.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.