5537 Co-12 Unit 1-D · La Veta, CO 81055

$145,000

2 bd · 1.0 ba · 750 sqft · Condo public records · 62 Days on market

Built 1983

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Why this score? — see what drove the F 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 +7.7/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lower level condo is a great investment, needs some TLC but is priced accordingly. 2 bedroom 1 bath, great mountain views and river frontage common area.

Key facts

• Ground level condo
• Built 1983
• Listed 62 days

Tags

• GROUND LEVEL CONDO
• EASY ACCESS TO HIKING
• EASY ACCESS TO SKIING
• STUNNING ALPINE SCENERY
• BASECAMP FOR EXPLORING LA VETA

Property features AI

Finance

• HOA & community: Located in Fort Condos

Exterior

• Utilities: Public water
• Home design: Single family residence; Residential property
• Construction: Frame construction; Composition roof
• Exterior features: Stream on the property; Paved road access; Highway frontage; Pets allowed

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Total of 4 rooms (bedrooms and living areas combined)
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating
• Interior features: Washer; Dryer; Dishwasher; Refrigerator; Tile flooring; No basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $-166 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 4.9% vs local median 2.0% in La Veta — 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 62/100 on livability (#198 in CO) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: employment C-, schools D+, amenities D.
• La Veta School District Re-2 (rural): math 25% / reading 35% proficiency, ranked #105 of 176 in CO (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 130 active listings in the ZIP; 51 units permitted in Huerfano County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Huerfano County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $145k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,300 (6.0% 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 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 4.92%
• Cash-on-cash: -4.92%
• DSCR: 0.78
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -24.4%
• Equity multiple: 0.17×
• Total profit: $-33,848
• Equity at exit: $21,620

10-year hold

• IRR: -19.2%
• Equity multiple: -0.04×
• Total profit: $-42,113
• Equity at exit: $12,537

Cash invested: $40,600 (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 81055

• Home prices YoY: -16.8%
• Active inventory: 130
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,523 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$79 /mo · $948/yr
• Insurance: −$60
• HOA est. from 2 same-building comps: −$470
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $-166

Break-even live

Break-even rent $1,734

Max offer price $115,597

Occupancy floor —

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $145,000 Active 62 DOM
2. 2026-06-17
   days on market $145,000 Active 61 DOM
3. 2026-06-16
   days on market $145,000 Active 60 DOM
4. 2026-06-15
   days on market $145,000 Active 59 DOM
5. 2026-06-13
   days on market $145,000 Active 57 DOM
6. 2026-06-12
   days on market $145,000 Active 56 DOM
7. 2026-06-09
   days on market $145,000 Active 53 DOM
8. 2026-06-08
   days on market $145,000 Active 52 DOM
9. 2026-06-07
   days on market $145,000 Active 51 DOM
10. 2026-06-07
    days on market $145,000 Active 50 DOM
11. 2026-06-04
    days on market $145,000 Active 47 DOM
12. 2026-06-02
    days on market $145,000 Active 46 DOM
13. 2026-06-01
    days on market $145,000 Active 45 DOM
14. 2026-05-31
    days on market $145,000 Active 44 DOM
15. 2026-05-31
    days on market $145,000 Active 43 DOM
16. 2026-04-29
    status Active
17. 2026-04-29
    price $145,000
18. 2025-12-12
    listed $155,000 Active
19. 2025-06-19
    listed $155,000 Active
20. 2020-07-20
    soldstatus $85,000 158-char remark

    Show marketing remark (158 chars)

    This lower level condo is a great investment, needs some TLC but is priced accordingly. 2 bedroom 1 bath, great mountain views and river frontage common area.

21. 2020-07-20
    soldstatus $85,000

    Show marketing remark (158 chars)

    This lower level condo is a great investment, needs some TLC but is priced accordingly. 2 bedroom 1 bath, great mountain views and river frontage common area.

22. 2020-07-20
    soldstatus $85,000

    Show marketing remark (158 chars)

    This lower level condo is a great investment, needs some TLC but is priced accordingly. 2 bedroom 1 bath, great mountain views and river frontage common area.

23. 2020-06-18
    listed $85,000 158-char remark

    Show marketing remark (158 chars)

    This lower level condo is a great investment, needs some TLC but is priced accordingly. 2 bedroom 1 bath, great mountain views and river frontage common area.

24. 2020-06-18
    listed $85,000

    Show marketing remark (158 chars)

    This lower level condo is a great investment, needs some TLC but is priced accordingly. 2 bedroom 1 bath, great mountain views and river frontage common area.

25. 2004-02-16
    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: $948 · $79/mo
• Projected year-2 tax: $948 · $79/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major 74% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 1 d/yr ≥85°F today · 3 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,279
• − Mortgage interest: −$8,122
• − Property taxes: −$948
• − Insurance: −$725
• − Repairs & maintenance: −$1,462
• − Management: −$1,462
• − HOA: −$5,640
• − Depreciation: −$4,218
• Taxable loss: −$4,299
• Est. tax savings @ 24.0%: +$1,032
• After-tax cash flow: $-966/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: La Veta School District Re-2
• NCES district ID: 0805160
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 35% ▲ 5.00%
• Median HH income: $45,702
• Composite: 28.61/100
• National rank: #12044
• State rank: #105 of 176 in CO

Livability — La Veta

• Score: 62/100
• State rank: #198
• US rank: #16099

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Veta, CO
• Population (ZIP): 1,582

Population outlook (Huerfano County) Hauer SSP2

• Today (2025): 5,963 people
• By 2030: 5,550 · -6.9%
• By 2040: 4,598 · -22.9%
• By 2050: 3,849 · -35.5%
• By 2075: 2,906 · -51.3%
• By 2100: 2,156 · -63.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 12% Two or more races 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Iranian 6% Italian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 2%

Political lean MEDSL · Huerfano

• 2024 margin: Lean R (+8.6) · D 44.3% · R 52.9% · Other 2.9%
• 2008→2024 swing: -19.8pp toward R · 2008: 11.2pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+2.9 2016: R+6.5 2012: D+7.8 2008: D+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.60%
• Current HPI: 186.2383
• 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

+314.3% since first listed

10 events — show timeline

• 2026-04-29 Relisted — SPMLS
• 2026-04-29 Price Changed $145,000 SPMLS
• 2025-12-12 Listed $155,000 SPMLS
• 2025-06-19 Listed $155,000 SPMLS
• 2020-07-20 Sold (Public Records) $85,000 Public Records
• 2020-07-20 Sold (MLS) $85,000 PARMLS
• 2020-07-20 Sold (MLS) $85,000 SPMLS
• 2020-06-18 Listed $85,000 PARMLS
• 2020-06-18 Listed $85,000 SPMLS
• 2004-02-16 Sold (Public Records) $35,000 Public Records

Property tax history

+8.6%/yr

Latest (2025): $948 · +131.5% YoY. Source: county tax records.