1524 4th Ave

Monte Vista, CO 81144

$43,500B-

1 bd · 1.0 ba · 735 sqft · Built 1917 · SingleFamily · Active · 132 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $829/mo
• Mortgage (P&I): −$228
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$174
• Net cashflow: $354/mo
• Annual: $4,249/yr
• Cap rate: 16.06%
• Cash-on-cash: 34.88%
• DSCR: 2.55
• 1% rule: 1.91%
• Cash to close: $12,180

Investor read

• This is a 1-bed/1.0-bath single-family listed at $44k. Condition is rated poor.
• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($829 rent vs $44k).
• It's been on market 132 days — a 12% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $38k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $301 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• 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: crime F, amenities F, commute 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.
• Zoned schools: Bill Metz Elementary School (math 24% / reading 32%, grade F, #540 of 966 statewide, top 57%, 269 students, 70% FRL); Monte Vista Middle School (math 2% / reading 22%, grade F, #236 of 270 statewide, top 88%, 210 students, 70% FRL); Monte Vista Senior High School (math 24% / reading 34%, grade F, #244 of 381 statewide, top 66%, 250 students, 62% FRL).
• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 47 units permitted in Rio Grande County in 2024 (0 in 5+ unit buildings).
• Rio Grande County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 16.1% 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.

Questions for listing agent

• It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1917 — 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.
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exposed framing — Structural damage
• Major: Debris — Obstructs view and access