905 Salazar St · San Luis, CO 81152

$89,000

3 bd · 2.0 ba · 1,280 sqft · Manufactured · 119 Days on market

Built 1995 0.25 ac lot ↓ 14% 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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Appreciation +3.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks

Charming, immaculate, spacious 3 bedroom, 2 bath Mobil Home; move in ready. Fresh paint throughout! with large balcony, car port and plenty of storage and workspace structures. Also ramp for easy access. Welcome sunny days in this kitchen with 2 skylights, plenty of cabinet and counter space- open space with living room, high ceilings. .. great for familly entertainment. All appliances stay. New disposal, ceiling fans, toilets, and bedrooms flooring. Property has a big mature yard, with plenty of garden space. Public utilities available. Great rental potential. quiet neighborhood. No HOA's/Management Fees. Sold As Is. Must see. Cash Only, quick closing.

Key facts

• Private yard
• Open layout
• 0.25 acre lot

Tags

• PRIVATE YARD
• KITCHEN WITH SKYLIGHTS
• PLENTY OF CABINET SPACE
• OPEN LAYOUT
• WALKING DISTANCE TO PARK

Property features AI

Exterior

• Parking: Carport (1 space)
• Utilities: City water; Public sewer; Electricity available; Propane
• Home design: Manufactured on land; One level; Not new — previously owned; Ramp access
• Construction: Composition roof; Other construction materials; Manufactured house
• Exterior features: Balcony; Outbuildings

Interior

• Kitchen: Dishwasher; Refrigerator; Disposal
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Ceiling fan(s)
• Interior features: Open floor plan; Walk-in closet(s); Fire alarm
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $89k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#321 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: health & safety C-, schools F, crime F.
• Centennial School District No. R-1 (rural): math 6% / reading 20% proficiency, ranked #168 of 176 in CO (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 397 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k 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 (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y 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.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.29% ✓
• Cap rate: 10.23%
• Cash-on-cash: 14.07%
• DSCR: 1.63
• GRM: 6.5

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: 4.4%
• Equity multiple: 1.17×
• Total profit: $4,199
• Equity at exit: $13,270

10-year hold

• IRR: 13.9%
• Equity multiple: 2.11×
• Total profit: $27,682
• Equity at exit: $7,695

Cash invested: $24,920 (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 81152

• Home prices YoY: -2.9%
• Active inventory: 397
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,148 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $292

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 70%

Sensitivity live

Price	-10% $354	-5% $323	+0% $292	+5% $261	+10% $231
Rent	-10% $201	-5% $247	+0% $292	+5% $337	+10% $383
Rate	-1.0pp $337	-0.5pp $315	base $292	+0.5pp $269	+1.0pp $246

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-19
   days on market $89,000 Active 119 DOM
2. 2026-06-18
   days on market $89,000 Active 118 DOM
3. 2026-06-17
   days on market $89,000 Active 117 DOM
4. 2026-06-16
   days on market $89,000 Active 116 DOM
5. 2026-06-15
   days on market $89,000 Active 115 DOM
6. 2026-06-13
   days on market $89,000 Active 113 DOM
7. 2026-06-12
   days on market $89,000 Active 112 DOM
8. 2026-06-09
   days on market $89,000 Active 109 DOM
9. 2026-06-08
   days on market $89,000 Active 108 DOM
10. 2026-06-07
    days on market $89,000 Active 107 DOM
11. 2026-06-07
    days on market $89,000 Active 106 DOM
12. 2026-06-04
    days on market $89,000 Active 103 DOM
13. 2026-06-02
    days on market $89,000 Active 102 DOM
14. 2026-06-01
    days on market $89,000 Active 101 DOM
15. 2026-05-31
    days on market $89,000 Active 100 DOM
16. 2026-05-31
    days on market $89,000 Active 99 DOM
17. 2026-02-19
    listed $89,000 Active
18. 2025-09-25
    status Active
19. 2025-09-16
    status Pending
20. 2025-09-16
    historical
21. 2025-09-10
    listed $89,000 Active
22. 2024-06-03
    historical
23. 2024-06-03
    historical
24. 2023-10-11
    listed $100,000 Active
25. 2023-10-11
    listed $100,000 Active
26. 2023-09-13
    historical
27. 2023-09-13
    historical
28. 2023-07-17
    listed $103,500 Active
29. 2023-07-17
    listed $103,500 Active
30. 2023-07-17
    listed $103,500

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 8 d/yr ≥83°F today · 23 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: $13,779
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$2,589
• Taxable income: $2,220
• Est. tax owed @ 24.0%: −$533
• After-tax cash flow: $2,972/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: Centennial School District No. R-1
• NCES district ID: 0806360
• Math proficiency: 6% ▬ 0.00%
• Reading proficiency: 20% ▲ 5.00%
• Median HH income: $25,969
• Composite: 13.32/100
• National rank: #14505
• State rank: #168 of 176 in CO

Livability — San Luis

• Score: 56/100
• State rank: #321
• US rank: #22383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Luis, CO
• Population (ZIP): 1,203

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 30% Two or more races 23% Native American 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 5% Hispanic 4% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 63% English-only · Spanish 37% Other Asian/Pacific 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: ▼ -3.60%
• Current HPI: 119.7764
• 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

-14.0% since first listed

14 events — show timeline

• 2026-02-19 Listed $89,000 IRES
• 2025-09-25 Relisted — IRES
• 2025-09-16 Pending — IRES
• 2025-09-16 Listing Removed — IRES
• 2025-09-10 Listed $89,000 IRES
• 2024-06-03 Listing Removed — REColorado as Distributed by MLS Grid
• 2024-06-03 Listing Removed — IRES
• 2023-10-11 Listed $100,000 REColorado as Distributed by MLS Grid
• 2023-10-11 Listed $100,000 IRES
• 2023-09-13 Listing Removed — IRES
• 2023-09-13 Listing Removed — REColorado as Distributed by MLS Grid
• 2023-07-17 Listed $103,500 SPIBOR
• 2023-07-17 Listed $103,500 IRES
• 2023-07-17 Listed $103,500 REColorado as Distributed by MLS Grid

Property tax history

+8.3%/yr

Latest (2025): $69 · -3.8% YoY. Source: county tax records.