800 Cheyenne St · Trinidad, CO 81082

$85,900

3 bd · 1.0 ba · 1,700 sqft · SingleFamily public records · 988 Days on market

Built 1939 0.27 ac lot ↓ 43% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• 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

INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

Key facts

• 0.27 acre lot
• Built 1939
• Listed 987 days

Property features AI

Finance

• Other: Zoning: Residential
• HOA & community: No association amenities

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Frame construction; Composition roof; Above-grade finished area approximately 1,700 (value provided)
• Exterior features: Corner, irregular-shaped lot; No covered patios or porches listed

Interior

• Kitchen: No appliances listed
• Bedrooms: Four main-level bedrooms
• Flooring: Wood flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: No central cooling listed
• Interior features: Master bedroom located on the main level; Double pane windows; Wood burning stove
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $76k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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 $594 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 988 days — a 12% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $64k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 988 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 1939 — 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: 1.43% ✓
• Cap rate: 12.29%
• Cash-on-cash: 21.42%
• DSCR: 1.95
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $215,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1223 Western Ave	0.09mi	3/2.0	1,700 (0%)	13mo	$325,000	$191	81
615 San Juan St	0.36mi	2/1.0 (-1)	1,680 (-1%)	3mo	$180,000	$107	74
434 College St	0.61mi	3/1.0	1,713 (+1%)	4mo	$190,000	$111	67
1198 Robinson Ave	0.30mi	3/2.0	1,572 (-8%)	3mo	$169,000	$108	66
927 Park St	0.22mi	3/2.0	1,500 (-12%)	5mo	$267,000	$178	62
908 San Juan St	0.37mi	3/1.0	1,835 (+8%)	13mo	$220,000	$120	59
801 Nickerson Ave	0.42mi	2/1.0 (-1)	1,579 (-7%)	6mo	$200,000	$127	59
1003 Alta St	0.30mi	2/1.5 (-1)	1,845 (+8%)	12mo	$320,000	$173	55
804 W Baca St	0.61mi	2/2.0 (-1)	1,660 (-2%)	13mo	$115,000	$69	48
614 Willow St	0.55mi	3/1.0	1,458 (-14%)	5mo	$100,000	$69	47
723 Park St	0.42mi	3/2.0	1,929 (+14%)	9mo	$260,000	$135	46
821 Prospect St	0.73mi	2/1.5 (-1)	1,500 (-12%)	0mo	$220,000	$147	39

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: 13.9%
• Equity multiple: 1.56×
• Total profit: $13,405
• Equity at exit: $12,808

10-year hold

• IRR: 22.7%
• Equity multiple: 2.95×
• Total profit: $46,821
• Equity at exit: $7,427

Cash invested: $24,052 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,228 medium
• Mortgage (P&I): −$450
• Tax from tax record: −$55 /mo · $660/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $429

Break-even live

Break-even rent $685

Max offer price $85,900

Occupancy floor 60%

Sensitivity live

Price	-10% $478	-5% $454	+0% $429	+5% $405	+10% $381
Rent	-10% $332	-5% $381	+0% $429	+5% $478	+10% $526
Rate	-1.0pp $472	-0.5pp $451	base $429	+0.5pp $407	+1.0pp $384

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: $21,475
• Closing costs: $2,577
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $85,900 Active 988 DOM
2. 2026-06-18
   days on market $85,900 Active 986 DOM
3. 2026-06-17
   days on market $85,900 Active 985 DOM
4. 2026-06-16
   days on market $85,900 Active 984 DOM
5. 2026-06-15
   days on market $85,900 Active 983 DOM
6. 2026-06-13
   days on market $85,900 Active 981 DOM
7. 2026-06-12
   days on market $85,900 Active 980 DOM
8. 2026-06-09
   days on market $85,900 Active 977 DOM
9. 2026-06-08
   days on market $85,900 Active 976 DOM
10. 2026-06-07
    days on market $85,900 Active 975 DOM
11. 2026-06-04
    days on market $85,900 Active 971 DOM
12. 2026-06-02
    days on market $85,900 Active 970 DOM
13. 2026-06-01
    days on market $85,900 Active 969 DOM
14. 2026-05-31
    days on market $85,900 Active 968 DOM
15. 2026-05-31
    days on market $85,900 Active 967 DOM
16. 2026-03-10
    status Active 158-char remark

    Show marketing remark (158 chars)

    INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

17. 2025-09-15
    price $85,900

    Show marketing remark (158 chars)

    INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

18. 2025-09-15
    price $85,900 158-char remark

    Show marketing remark (158 chars)

    INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

19. 2025-07-02
    price $89,000 158-char remark

    Show marketing remark (158 chars)

    INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

20. 2025-07-02
    price $89,000

    Show marketing remark (158 chars)

    INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

21. 2024-07-02
    price $109,000 158-char remark

    Show marketing remark (158 chars)

    INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

22. 2024-07-02
    price $109,000

    Show marketing remark (158 chars)

    INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

23. 2024-01-08
    price $125,000

    Show marketing remark (158 chars)

    INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

24. 2024-01-08
    price $125,000 158-char remark

    Show marketing remark (158 chars)

    INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

25. 2023-10-07
    listed $150,000 Active
26. 2023-10-06
    listed $150,000 Active 158-char remark

    Show marketing remark (158 chars)

    INVESTOR SPECIAL!! Nice corner lots! Over a quarter of an acre. Great Location. Home needs an investor/contractor expertise. Seller will consider all offers.

ⓘ 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: $660 · $55/mo
• Projected year-2 tax: $660 · $55/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 22 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: $14,742
• − Mortgage interest: −$4,812
• − Property taxes: −$660
• − Insurance: −$430
• − Repairs & maintenance: −$1,179
• − Management: −$1,179
• − Depreciation: −$2,499
• Taxable income: $3,983
• Est. tax owed @ 24.0%: −$956
• After-tax cash flow: $4,195/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

-42.7% since first listed

11 events — show timeline

• 2026-03-10 Relisted — SPMLS
• 2025-09-15 Price Changed $85,900 PARMLS
• 2025-09-15 Price Changed $85,900 SPMLS
• 2025-07-02 Price Changed $89,000 SPMLS
• 2025-07-02 Price Changed $89,000 PARMLS
• 2024-07-02 Price Changed $109,000 SPMLS
• 2024-07-02 Price Changed $109,000 PARMLS
• 2024-01-08 Price Changed $125,000 PARMLS
• 2024-01-08 Price Changed $125,000 SPMLS
• 2023-10-07 Listed $150,000 PARMLS
• 2023-10-06 Listed $150,000 SPMLS

Property tax history

+4.3%/yr

Latest (2025): $660 · +36.1% YoY. Source: county tax records.