101 S Mulberry St · Manzanola, CO 81058

$50,000

2 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 35 Days on market

Built 1890 0.31 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +1.6/10.0

Listing remarks MLS

Great property with plenty of potential and ready for your personal touch! This home is perfect for those eager to apply some TLC and creative vision to make it truly shine. Ideal for a Family looking to craft their dream space to create many lasting memories! Don't miss this chance to transform a gem into your masterpiece!

Key facts

• 0.31 acre lot
• 2 garage spots
• Built 1890

Property features AI

Finance

• Other: Lot size approximately 0.31 acres

Exterior

• Parking: Two total parking spaces; Two-car garage
• Utilities: Public water; Septic sewer
• Home design: Single-family residence; One story; Unattached property; Individual ownership
• Construction: Frame construction; Composition roof; Built as a house
• Exterior features: Public water; Septic tank

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating
• Interior features: One-level living

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#157 in CO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, commute D+, crime F.
• Manzanola Joint District No. 3J Of The Counties Of Otero A (rural): math 20% / reading 30% proficiency, ranked #136 of 176 in CO (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Manzanola Elementary School (math 24% / reading 30%, grade F, #552 of 966 statewide, top 59%, 55 students, 78% FRL); Manzanola Junior-Senior High School (math 5% / reading 30%, grade F, #338 of 381 statewide, top 89%, 108 students, 70% FRL).
• Market conditions: 11 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 $346 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.25% ✓
• Cap rate: 19.35%
• Cash-on-cash: 46.63%
• DSCR: 3.07
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $127,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 S Canal	0.20mi	2/1.0	1,384 (+9%)	13mo	$138,000	$100	65

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: 43.9%
• Equity multiple: 2.90×
• Total profit: $26,563
• Equity at exit: $7,455

10-year hold

• IRR: 49.9%
• Equity multiple: 5.84×
• Total profit: $67,815
• Equity at exit: $4,323

Cash invested: $14,000 (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 81058

• Home prices YoY: -2.4%
• Active inventory: 11
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,126 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $544

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 47%

Sensitivity live

Price	-10% $579	-5% $561	+0% $544	+5% $527	+10% $509
Rent	-10% $455	-5% $500	+0% $544	+5% $588	+10% $633
Rate	-1.0pp $569	-0.5pp $557	base $544	+0.5pp $531	+1.0pp $518

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-08
   days on market $50,000 Active 35 DOM
2. 2026-06-07
   days on market $50,000 Active 34 DOM
3. 2026-06-05
   days on market $50,000 Active 32 DOM
4. 2026-06-04
   days on market $50,000 Active 30 DOM
5. 2026-06-02
   days on market $50,000 Active 29 DOM
6. 2026-06-01
   days on market $50,000 Active 28 DOM
7. 2026-05-31
   days on market $50,000 Active 27 DOM
8. 2026-05-31
   days on market $50,000 Active 26 DOM
9. 2026-05-21
   status Active 325-char remark

   Show marketing remark (325 chars)

   Great property with plenty of potential and ready for your personal touch! This home is perfect for those eager to apply some TLC and creative vision to make it truly shine. Ideal for a Family looking to craft their dream space to create many lasting memories! Don't miss this chance to transform a gem into your masterpiece!

10. 2026-05-21
    status Active 325-char remark

    Show marketing remark (325 chars)

    Great property with plenty of potential and ready for your personal touch! This home is perfect for those eager to apply some TLC and creative vision to make it truly shine. Ideal for a Family looking to craft their dream space to create many lasting memories! Don't miss this chance to transform a gem into your masterpiece!

11. 2026-04-16
    status Pending 325-char remark

    Show marketing remark (325 chars)

    Great property with plenty of potential and ready for your personal touch! This home is perfect for those eager to apply some TLC and creative vision to make it truly shine. Ideal for a Family looking to craft their dream space to create many lasting memories! Don't miss this chance to transform a gem into your masterpiece!

12. 2026-04-16
    status Pending 325-char remark

    Show marketing remark (325 chars)

    Great property with plenty of potential and ready for your personal touch! This home is perfect for those eager to apply some TLC and creative vision to make it truly shine. Ideal for a Family looking to craft their dream space to create many lasting memories! Don't miss this chance to transform a gem into your masterpiece!

13. 2026-03-31
    listed $50,000 Active 325-char remark

    Show marketing remark (325 chars)

    Great property with plenty of potential and ready for your personal touch! This home is perfect for those eager to apply some TLC and creative vision to make it truly shine. Ideal for a Family looking to craft their dream space to create many lasting memories! Don't miss this chance to transform a gem into your masterpiece!

14. 2026-03-31
    listed $50,000 Active 325-char remark

    Show marketing remark (325 chars)

    Great property with plenty of potential and ready for your personal touch! This home is perfect for those eager to apply some TLC and creative vision to make it truly shine. Ideal for a Family looking to craft their dream space to create many lasting memories! Don't miss this chance to transform a gem into your masterpiece!

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 20 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: $13,512
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,081
• − Management: −$1,081
• − Depreciation: −$1,455
• Taxable income: $6,095
• Est. tax owed @ 24.0%: −$1,463
• After-tax cash flow: $5,065/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: Manzanola Joint District No. 3J Of The Counties Of Otero A
• NCES district ID: 0805520
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 30% ▼ -5.00%
• Median HH income: $34,485
• Composite: 23.6/100
• National rank: #13262
• State rank: #136 of 176 in CO

Livability — Manzanola

• Score: 65/100
• State rank: #157
• US rank: #12664

Category grades

Amenities F Commute D+ 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

• Census place: Manzanola, CO
• Population (ZIP): 967

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: Majority White (57%)
• Race & ethnicity: White 57% Hispanic / Latino 37% Two or more races 19% Black 3% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Portuguese 2% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 9%

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: ▼ -6.81%
• Current HPI: 275.8879
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-21 Relisted — IRES
• 2026-05-21 Relisted — REColorado as Distributed by MLS Grid
• 2026-04-16 Pending — IRES
• 2026-04-16 Pending — REColorado as Distributed by MLS Grid
• 2026-03-31 Listed $50,000 REColorado as Distributed by MLS Grid
• 2026-03-31 Listed $50,000 IRES

Property tax history

-5.2%/yr

Latest (2024): $94 · +0.7% YoY. Source: county tax records.