118 S 1st St · Cheraw, CO 81030

$90,000

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 375 Days on market

Built 1913 0.40 ac lot ↓ 28% since listing

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Why this score? — see what drove the D+ 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 +17.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• 1% rule +4.6/10.0
• Livability +3.0/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0

Listing remarks

Attention investors! This property has an occupied 1BD/1BA income property. There is also a salvage mobile home which could easily be removed and replaced for a second income opportunity. With multiple water taps and electrical service already in place, this could be a fantastic addition to an existing investment portfolio or a great way to start one. ALL SOLD IN AS-IS CONDITION.

Key facts

• Multiple water taps
• Vacant land
• Electrical service

Tags

• THREE PARCEL PROPERTY
• VACANT LAND
• OCCUPIED INCOME PROPERTY
• MULTIPLE WATER TAPS
• ELECTRICAL SERVICE

Property features AI

Finance

• Other: Property located on three parcels along S 1st St near Beymer Avenue (directions available)
• HOA & community: No association amenities

Exterior

• Parking: No garage
• Security: Smoke detector(s)
• Utilities: Zoned residential
• Home design: Single-family residential property
• Construction: Built with block and adobe construction; Composition roof
• Exterior features: Corner, irregular lot

Interior

• Kitchen: Range; Oven; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Laminate flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Space heater; No cooling system
• Interior features: Master bedroom on the main level; Wood window frames; Smoke detector(s)
• Laundry & utility: Washer and dryer located in the kitchen; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $64 ($765/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $87k (3.6% below list).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#246 in CO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, schools F.
• Cheraw School District No. 31 In The County Of Otero And S (rural): math 25% / reading 30% proficiency, ranked #122 of 176 in CO (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 7 active listings in the ZIP; 11 units permitted in Otero County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Otero County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 375 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 375 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 1913 — 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. 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?
8. 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.
9. 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.
10. 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: 0.96% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.14
• GRM: 8.6

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: -11.5%
• Equity multiple: 0.58×
• Total profit: $-10,512
• Equity at exit: $13,419

10-year hold

• IRR: -2.3%
• Equity multiple: 0.85×
• Total profit: $-3,874
• Equity at exit: $7,782

Cash invested: $25,200 (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 81030

• Home prices YoY: -1.8%
• Active inventory: 7
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $868 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $64

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 88%

Sensitivity live

Price	-10% $126	-5% $95	+0% $64	+5% $33	+10% $2
Rent	-10% $-5	-5% $29	+0% $64	+5% $98	+10% $132
Rate	-1.0pp $109	-0.5pp $87	base $64	+0.5pp $40	+1.0pp $17

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-22
   days on market $90,000 Active 375 DOM
2. 2026-06-21
   days on market $90,000 Active 374 DOM
3. 2026-06-19
   days on market $90,000 Active 372 DOM
4. 2026-06-18
   days on market $90,000 Active 371 DOM
5. 2026-06-17
   days on market $90,000 Active 370 DOM
6. 2026-06-16
   days on market $90,000 Active 369 DOM
7. 2026-06-15
   days on market $90,000 Active 368 DOM
8. 2026-06-13
   days on market $90,000 Active 366 DOM
9. 2026-06-12
   remarks 382-char remark
10. 2026-06-12
    listed $90,000 Active 365 DOM

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,416
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$833
• − Management: −$833
• − Depreciation: −$2,618
• Taxable loss: −$710
• Est. tax savings @ 24.0%: +$171
• After-tax cash flow: $935/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: Cheraw School District No. 31 In The County Of Otero And S
• NCES district ID: 0802880
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 30% ▲ 10.00%
• Median HH income: $46,822
• Composite: 26.75/100
• National rank: #12562
• State rank: #122 of 176 in CO

Livability — Cheraw

• Score: 60/100
• State rank: #246
• US rank: #19135

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cheraw, CO
• Population (ZIP): 153

Population outlook (Otero County) Hauer SSP2

• Today (2025): 17,363 people
• By 2030: 16,776 · -3.4%
• By 2040: 15,534 · -10.5%
• By 2050: 14,467 · -16.7%
• By 2075: 12,054 · -30.6%
• By 2100: 9,392 · -45.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 12% Hispanic / Latino 10%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 3% Italian 1% Lithuanian 1%
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Otero

• 2024 margin: Strong R (+26.4) · D 35.5% · R 61.9% · Other 2.7%
• 2008→2024 swing: -15.9pp toward R · 2008: -10.5pp · 2024: -26.4pp
• All cycles: 2024: R+26.4 2020: R+22.5 2016: R+25.2 2012: R+9.3 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.15%
• Current HPI: 283.1439
• 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

-28.0% since first listed

3 events — show timeline

• 2026-06-12 Relisted — PARMLS
• 2025-08-30 Price Changed $90,000 PARMLS
• 2025-05-12 Listed $125,000 PARMLS

Property tax history

-5.7%/yr

Latest (2025): $62 · -32.0% YoY. Source: county tax records.