23500 Ridge Rd

El Moro, CO 81082

$125,000D-

3 bd · 1.0 ba · 1,300 sqft · Built 2001 · SingleFamily · Active · 74 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,169/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$208
• HOA: −$33
• Vac / Maint / Mgmt: −$246
• Net cashflow: $27/mo
• Annual: $324/yr
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• 1% rule: 0.94%
• Cash to close: $35,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $27 ($324/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 $117k (6.4% below list).
• It's been on market 74 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (6.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#270 in CO) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: health & safety C-, cost of living D+, crime F.
• Aguilar Reorganized School District No. 6 (rural): math 0% / reading 20% proficiency, ranked #170 of 176 in CO (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Aguilar Elementary School (math 24% / reading 24%, grade F, #606 of 966 statewide, top 65%, 65 students, 82% FRL); Aguilar Junior-Senior High School (math 24% / reading 24%, grade F, #266 of 381 statewide, top 79%, 54 students, 78% FRL) — zoned schools average 80% FRL vs 59% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 10% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Aguilar Reorganized School District No. 6 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 263 active listings in the ZIP; 43 units permitted in Las Animas County in 2024 (0 in 5+ unit buildings).
• Las Animas County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $125k implies a 117% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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?
• 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.