10 Acres Aardvark Rd · Fort Garland, CO 81133

$69,500

1 bd · None ba · 640 sqft · SingleFamily · 52 Days on market

Built 2025 Poor condition 10 ac lot ↓ 7% since listing

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Why this score? — see what drove the C 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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Appreciation +4.4/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Condition / age +1.0/5.0

Listing remarks

Set in the wide-open beauty of the Sangre de Cristo Ranches of Fort Garland, this 10+ acre property offers a thoughtfully improved basecamp for your Colorado getaway or full-time residence! The property features a new 640 sq ft home with a durable metal roof and a blank canvas to finish the interior to your exact taste and needs! Inside, the space is prepped for efficient use with framing in place for pocket doors and a sliding barn door—ideal for maximizing space while adding character. Recent upgrades include a septic system installed in 2024 and a solid structural foundation with concrete pillars set 3 feet below ground, reinforced with rebar and straps for added durability. The ma

Key facts

• Durable metal roof
• 10 acre property
• Septic system

Tags

• 10 ACRE PROPERTY
• DURABLE METAL ROOF
• SEPTIC SYSTEM
• SOLID STRUCTURAL FOUNDATION
• 275 GALLON WATER TANK
• MOUNTAIN HOME RESERVOIR

Property features AI

Finance

• Other: Approximately 10.39 acres

Exterior

• Parking: Four off-street parking spaces (unpaved)
• Utilities: Septic tank
• Home design: Single-family manufactured home; One story; Faces west; Individually owned
• Construction: Frame construction; Built as a manufactured house
• Exterior features: Metal roof; Dirt road access; Zoned residential

Interior

• Bedrooms: One bedroom on the main level
• Heating & cooling: Wood heat
• Interior features: Living room on the main level; Kitchen on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/?-bath single-family listed at $70k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($787 rent vs $70k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 1.7% in Fort Garland — 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 54/100 on livability (#364 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing A; Watch: health & safety C-, schools F, crime F.
• Sierra Grande School District No. R-30 (rural): math 20% / reading 25% proficiency, ranked #148 of 176 in CO (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 591 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-1.2%/yr); year-one equity from $481 of loan paydown is wiped out by about $814 of value loss. Plan a longer hold.
• Costilla County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-1.2% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Recommended offer $67,415 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.71%
• DSCR: 1.39
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.17×
• Total profit: $3,239
• Equity at exit: $16,207

10-year hold

• IRR: 10.5%
• Equity multiple: 2.01×
• Total profit: $19,566
• Equity at exit: $16,537

Cash invested: $19,460 (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 81133

• Home prices YoY: -0.7%
• Active inventory: 591
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $787 medium
• Mortgage (P&I): −$364
• Tax est. 1.5%: −$87 /mo · $1,042/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$165
• Net cashflow: $141

Break-even live

Break-even rent $608

Max offer price $69,500

Occupancy floor 77%

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $69,500 Active 52 DOM
2. 2026-06-17
   days on market $69,500 Active 51 DOM
3. 2026-06-16
   days on market $69,500 Active 50 DOM
4. 2026-06-15
   days on market $69,500 Active 49 DOM
5. 2026-06-14
   days on market $69,500 Active 47 DOM
6. 2026-06-13
   days on market $69,500 Active 46 DOM
7. 2026-06-10
   days on market $69,500 Active 44 DOM
8. 2026-06-09
   days on market $69,500 Active 43 DOM
9. 2026-06-08
   days on market $69,500 Active 42 DOM
10. 2026-06-07
    days on market $69,500 Active 41 DOM
11. 2026-06-05
    days on market $69,500 Active 38 DOM
12. 2026-06-03
    days on market $69,500 Active 37 DOM
13. 2026-06-02
    days on market $69,500 Active 36 DOM
14. 2026-06-01
    days on market $69,500 Active 35 DOM
15. 2026-05-31
    days on market $69,500 Active 34 DOM
16. 2026-05-31
    days on market $69,500 Active 33 DOM
17. 2026-05-21
    price $69,500
18. 2026-04-27
    listed $75,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 9 d/yr ≥83°F today · 25 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,441
• − Mortgage interest: −$3,893
• − Property taxes: −$1,042
• − Insurance: −$348
• − Repairs & maintenance: −$755
• − Management: −$755
• − Depreciation: −$2,022
• Taxable income: $626
• Est. tax owed @ 24.0%: −$150
• After-tax cash flow: $1,545/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.

Condition & rehab AI · 6 photos

Poor 20/100 Extensive rehab

This property requires extensive renovations, including kitchen and bathroom fixtures, cabinets, countertops, and flooring. The property is currently a blank canvas with no appliances or fixtures, making it a significant investment opportunity.

Repairs flagged

• Major kitchen appliances — No kitchen appliances visible
• Major bathroom fixtures — No bathroom fixtures visible
• Major kitchen cabinets — No kitchen cabinets visible
• Major bathroom cabinets — No bathroom cabinets visible
• Major kitchen countertops — No kitchen countertops visible
• Major bathroom countertops — No bathroom countertops visible
• Major kitchen flooring — No kitchen flooring visible
• Major bathroom flooring — No bathroom flooring visible

Value-add opportunities

• Resale Kitchen appliances — Appliances enhance functionality and attract buyers
• Resale Bathroom fixtures — Fixtures improve functionality and attract buyers
• Resale Kitchen cabinets — Cabinets provide storage and enhance functionality
• Resale Bathroom cabinets — Cabinets provide storage and enhance functionality
• Resale Kitchen countertops — Countertops provide workspace and enhance functionality
• Resale Bathroom countertops — Countertops provide workspace and enhance functionality
• Resale Kitchen flooring — Flooring enhances aesthetics and functionality
• Resale Bathroom flooring — Flooring enhances aesthetics and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · No kitchen appliances visible	Major	$15,000–50,000
bathroom fixtures · No bathroom fixtures visible	Major	$15,000–50,000
kitchen cabinets · No kitchen cabinets visible	Major	$15,000–50,000
bathroom cabinets · No bathroom cabinets visible	Major	$15,000–50,000
kitchen countertops · No kitchen countertops visible	Major	$15,000–50,000
bathroom countertops · No bathroom countertops visible	Major	$15,000–50,000
kitchen flooring · No kitchen flooring visible	Major	$15,000–50,000
bathroom flooring · No bathroom flooring visible	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Resale Kitchen appliances — Appliances enhance functionality and attract buyers ↑
• Resale Bathroom fixtures — Fixtures improve functionality and attract buyers ↑
• Resale Kitchen cabinets — Cabinets provide storage and enhance functionality ↑
• Resale Bathroom cabinets — Cabinets provide storage and enhance functionality ↑
• Resale Kitchen countertops — Countertops provide workspace and enhance functionality ↑
• Resale Bathroom countertops — Countertops provide workspace and enhance functionality ↑
• Resale Kitchen flooring — Flooring enhances aesthetics and functionality ↑
• Resale Bathroom flooring — Flooring enhances aesthetics and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sierra Grande School District No. R-30
• NCES district ID: 0804140
• Math proficiency: 20% ▲ 10.00%
• Reading proficiency: 25% ▲ 10.00%
• Median HH income: $34,865
• Composite: 21.67/100
• National rank: #13595
• State rank: #148 of 176 in CO

Livability — Fort Garland

• Score: 54/100
• State rank: #364
• US rank: #24220

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,056

Population outlook (Costilla County) Hauer SSP2

• Today (2025): 3,560 people
• By 2030: 3,524 · -1.0%
• By 2040: 3,393 · -4.7%
• By 2050: 3,226 · -9.4%
• By 2075: 3,027 · -15.0%
• By 2100: 2,637 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 54% Hispanic / Latino 38% Two or more races 26% Black 4%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Russian 8% Serbian 7% Italian 6%
• Foreign-born: 5% · Canada
• Languages at home: 85% English-only · Spanish 14% German/W. Germanic 1%

Political lean MEDSL · Costilla

• 2024 margin: D (+14.7) · D 55.5% · R 40.9% · Other 3.6%
• 2008→2024 swing: -34.2pp toward R · 2008: 48.9pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+27.2 2016: D+29.0 2012: D+48.6 2008: D+48.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.17%
• Current HPI: 162.9232
• 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

-7.3% since first listed

2 events — show timeline

• 2026-05-21 Price Changed $69,500 REColorado as Distributed by MLS Grid
• 2026-04-27 Listed $75,000 REColorado as Distributed by MLS Grid