811-813 4th St · Alamosa, CO 81101

$225,000

2 bd · 2.0 ba · 1,164 sqft · MultiFamily public records · 32 Days on market

Built 1913 2,000 sqft lot

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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 +26.0/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Excellent opportunity for investors or owner-occupants. Live in one unit and rent the other, or continue operating as an income-producing property. Potential FHA financing for qualified owner-occupant buyers. Well-maintained duplex with strong rental history and numerous updates. Each unit features 2 bedrooms, 1 bathroom, living room, and kitchen. Recent improvements include updated electrical, newer double-pane windows, and newer water heaters. Both units offer washer and dryer hookups (washers and dryers are included). Stove connections are available for either gas or electric appliances. Tenant occupied on month-to-month leases, offering flexibility for owner-occupants or investors. Minimum 24-hour notice required for all showings. Please do not disturb tenants. Photos were taken prior to current tenant occupancy. Seller is a licensed real estate agent and intends to complete a 1031 exchange.

Key facts

• Updated electrical
• Newer water heaters
• 2,000 sq ft lot

Tags

• INCOME PRODUCING PROPERTY
• STRONG RENTAL HISTORY
• UPDATED ELECTRICAL
• NEWER DOUBLE PANE WINDOWS
• NEWER WATER HEATERS
• WASHER AND DRYER HOOKUPS

Property features AI

Finance

• Financial info: Month-to-month lease (tenant rent listed); Lease term through 2026-12-04

Exterior

• Parking: 2 off-street parking spaces; 2 total parking spaces
• Utilities: Cable available; Electricity connected (110V and 220V); Natural gas connected; Phone available; Public sewer
• Home design: Duplex (residential income); One level; Property is attached with one common wall; Agent-owned
• Construction: Built with frame and wood siding; Block foundation; Rolled/hot mop roof
• Exterior features: Public water; Public-maintained road

Interior

• Kitchen: Range; Microwave; Refrigerator; Range hood
• Bedrooms: 4 bedrooms
• Flooring: Vinyl; Wood
• Bathrooms: 2 bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Updated/remodeled condition; Range hood; Electric water heater
• Laundry & utility: In-unit laundry; Laundry closet; Washer; Dryer; Main level laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive. Per door: $280/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.6% in Alamosa — 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 71/100 on livability (#79 in CO) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime F, employment F.
• Alamosa School District No. Re-11J (town): math 23% / reading 36% proficiency, ranked #59 of 86 in CO (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Alamosa Elementary School K-2 (433 students, 64% FRL); Ortega Middle School (math 16% / reading 37%, grade F, #160 of 270 statewide, top 60%, 540 students, 64% FRL); Alamosa High School (math 42% / reading 52%, grade D-, #132 of 381 statewide, top 36%, 582 students, 54% FRL) — zoned schools at 61% FRL track the district average.
• Market conditions: 188 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 51 units permitted in Alamosa County in 2024 (0 in 5+ unit buildings).
• At $2,370/mo this rent would consume 52% of the median local household income ($55k/yr) (locally 511% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Alamosa County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $86k; list at $225k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.48
• 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: -0.4%
• Equity multiple: 0.99×
• Total profit: $-865
• Equity at exit: $33,548

10-year hold

• IRR: 9.3%
• Equity multiple: 1.71×
• Total profit: $44,765
• Equity at exit: $19,454

Cash invested: $63,000 (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 81101

• Home prices YoY: -23.8%
• Active inventory: 188
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $2,370 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$38 /mo · $456/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $561

Break-even live

Break-even rent $1,660

Max offer price $225,000

Occupancy floor 71%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,370
Total (2 units)			$2,370

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
729 3rd St Alamosa, CO	2.0	1.0	722	$1,250	$1.73	14d	1	0.12mi
908 9th St Unit 908 Alamosa, CO	1.0	1.0	755	$1,000	$1.32	2d	1	0.41mi
122 10th St Alamosa, CO	2.0	1.0	946	$1,200	$1.27	2d	1	0.76mi
507 Crestone Ave Alamosa, CO	3.0	1.0	1205	$1,650	$1.37	23d	1	0.79mi
511 Crestone Ave Unit 511 Alamosa, CO	3.0	1.0	1205	$1,700	$1.41	14d	1	0.80mi
525 Washington Ave Alamosa, CO	3.0	2.0	1275	$1,950	$1.53	2d	1	0.83mi
517 Washington Ave Alamosa, CO	3.0	2.0	1275	$1,800	$1.41	23d	1	0.83mi
509 Washington Ave Alamosa, CO	3.0	2.0	1275	$1,850	$1.45	23d	1	0.84mi
511 Washington Ave Alamosa, CO	3.0	2.0	1275	$1,850	$1.45	23d	1	0.84mi
1777 Edison Ave Apt 1 Alamosa, CO	3.0	1.0	1115	$1,425	$1.28	2d	1	1.05mi
512 Bell Ct Unit B7 Alamosa, CO	2.0	1.0	980	$1,150	$1.17	2d	1	1.13mi
2614 First St Alamosa, CO	2.0	1.0	800	$950	$1.19	2d	1	1.33mi
2710 First St Alamosa, CO	2.0	1.0	800	$1,050	$1.31	2d	1	1.41mi

Listing history 20 events

1. 2026-06-18
   days on market $225,000 Active 32 DOM
2. 2026-06-17
   days on market $225,000 Active 31 DOM
3. 2026-06-16
   days on market $225,000 Active 30 DOM
4. 2026-06-15
   days on market $225,000 Active 29 DOM
5. 2026-06-14
   days on market $225,000 Active 27 DOM
6. 2026-06-10
   days on market $225,000 Active 24 DOM
7. 2026-06-09
   days on market $225,000 Active 23 DOM
8. 2026-06-08
   days on market $225,000 Active 22 DOM
9. 2026-06-07
   days on market $225,000 Active 21 DOM
10. 2026-06-05
    days on market $225,000 Active 18 DOM
11. 2026-06-03
    days on market $225,000 Active 17 DOM
12. 2026-06-02
    days on market $225,000 Active 16 DOM
13. 2026-06-01
    days on market $225,000 Active 15 DOM
14. 2026-05-31
    days on market $225,000 Active 14 DOM
15. 2026-05-31
    days on market $225,000 Active 13 DOM
16. 2026-05-17
    listed $225,000 Active 915-char remark

    Show marketing remark (915 chars)

    Excellent opportunity for investors or owner-occupants. Live in one unit and rent the other, or continue operating as an income-producing property. Potential FHA financing for qualified owner-occupant buyers. Well-maintained duplex with strong rental history and numerous updates. Each unit features 2 bedrooms, 1 bathroom, living room, and kitchen. Recent improvements include updated electrical, newer double-pane windows, and newer water heaters. Both units offer washer and dryer hookups (washers and dryers are included). Stove connections are available for either gas or electric appliances. Tenant occupied on month-to-month leases, offering flexibility for owner-occupants or investors. Minimum 24-hour notice required for all showings. Please do not disturb tenants. Photos were taken prior to current tenant occupancy. Seller is a licensed real estate agent and intends to complete a 1031 exchange.

17. 2026-05-17
    listed $225,000 Active 915-char remark

    Show marketing remark (915 chars)

    Excellent opportunity for investors or owner-occupants. Live in one unit and rent the other, or continue operating as an income-producing property. Potential FHA financing for qualified owner-occupant buyers. Well-maintained duplex with strong rental history and numerous updates. Each unit features 2 bedrooms, 1 bathroom, living room, and kitchen. Recent improvements include updated electrical, newer double-pane windows, and newer water heaters. Both units offer washer and dryer hookups (washers and dryers are included). Stove connections are available for either gas or electric appliances. Tenant occupied on month-to-month leases, offering flexibility for owner-occupants or investors. Minimum 24-hour notice required for all showings. Please do not disturb tenants. Photos were taken prior to current tenant occupancy. Seller is a licensed real estate agent and intends to complete a 1031 exchange.

18. 2019-11-14
    soldstatus $86,000
19. 2015-11-30
    soldstatus $55,000
20. 1974-10-04
    soldstatus $34,000

ⓘ 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: $456 · $38/mo
• Projected year-2 tax: $1,238 · $103/mo
• Expected delta: +$782/yr (+$65/mo · 171.6%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥85°F today · 21 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: $28,440
• − Mortgage interest: −$12,603
• − Property taxes: −$456
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,275
• − Management: −$2,275
• − Depreciation: −$6,545
• Taxable income: $3,160
• Est. tax owed @ 24.0%: −$758
• After-tax cash flow: $5,969/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: Alamosa School District No. Re-11J
• NCES district ID: 0802070
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $34,857
• Composite: 24.29/100
• National rank: #7713
• State rank: #59 of 86 in CO

Livability — Alamosa

• Score: 71/100
• State rank: #79
• US rank: #7230

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alamosa, CO
• County: Alamosa County · 15,550 people
• City population: 15,550
• Metro: nan
• Population (ZIP): 15,550
• Household income: $54,844
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 511.0

Population outlook (Alamosa County) Hauer SSP2

• Today (2025): 17,715 people
• By 2030: 18,383 · +3.8%
• By 2040: 19,792 · +11.7%
• By 2050: 21,412 · +20.9%
• By 2075: 26,342 · +48.7%
• By 2100: 28,866 · +62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 50% White 44% Two or more races 24% Native American 5% Black 2%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Italian 4% Russian 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 78% English-only · Spanish 21%

Political lean MEDSL · Alamosa

• 2024 margin: R (+10.8) · D 43.1% · R 54.0% · Other 2.9%
• 2008→2024 swing: -24.9pp toward R · 2008: 14.1pp · 2024: -10.8pp
• All cycles: 2024: R+10.8 2020: R+0.7 2016: D+2.0 2012: D+16.3 2008: D+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.63%
• Current HPI: 284.5384
• Rent YoY: —
• Metro: nan
• 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

+561.8% since first listed

5 events — show timeline

• 2026-05-17 Listed $225,000 IRES
• 2026-05-17 Listed $225,000 REColorado as Distributed by MLS Grid
• 2019-11-14 Sold (Public Records) $86,000 Public Records
• 2015-11-30 Sold (Public Records) $55,000 Public Records
• 1974-10-04 Sold (Public Records) $34,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $456 · +341.6% YoY. Source: county tax records.