19570 E Highway 24

Woodland Park, CO 80863

$65,000B

1 bd · 1.0 ba · 1,024 sqft · Built 1992 · Land · Active · 120 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,811/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$380
• Net cashflow: $982/mo
• Annual: $11,783/yr
• Cap rate: 24.42%
• Cash-on-cash: 64.74%
• DSCR: 3.88
• 1% rule: 2.79%
• Cash to close: $18,200

Investor read

• This is a 1-bed/1.0-bath land listed at $65k.
• At list price, monthly cash flow is $982 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• It's been on market 120 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#78 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; Watch: commute F, cost of living F.
• Woodland Park School District No. Re-2 (town): math 28% / reading 47% proficiency, ranked #29 of 86 in CO (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gateway Elementary School (math 15% / reading 37%, grade F, #581 of 966 statewide, top 61%, 293 students, 36% FRL); Woodland Park Middle School (math 27% / reading 47%, grade F, #95 of 270 statewide, top 37%, 386 students, 34% FRL); Woodland Park High School (math 37% / reading 62%, grade D, #115 of 381 statewide, top 34%, 579 students, 33% FRL).
• Market conditions: Rents rising (+3.6%/yr); 245 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 148 units permitted in Teller County in 2024 (0 in 5+ unit buildings).
• Teller County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 24.4% vs local median 3.5% in Woodland Park — 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.

Questions for listing agent

• It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.