313 E Fletcher St

Haxtun, CO 80731

$110,000D

2 bd · 1.0 ba · 765 sqft · Built 1940 · SingleFamily · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $847/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$96
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $-3/mo
• Annual: $-41/yr
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• 1% rule: 0.77%
• Cash to close: $30,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $-3 ($-41/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (23.0% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $85k (23.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.6%/yr); year-one equity from $761 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#37 in CO, #4,551 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Haxtun School District No. Re-2J (rural): math 25% / reading 35% proficiency, ranked #109 of 176 in CO (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Haxtun Elementary School (reading 24%, 176 students, 30% FRL); Haxtun Jr/Sr High School (math 30% / reading 30%, grade F, #231 of 381 statewide, top 61%, 158 students, 26% FRL) — zoned schools at 28% FRL track the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 6 units permitted in Phillips County in 2024 (0 in 5+ unit buildings).
• Phillips County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 17y 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 $44k; list at $110k implies a 150% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.