125 S Miller Ave

Haxtun, CO 80731

$45,000B

2 bd · 2.0 ba · 2,462 sqft · Built 1920 · SingleFamily · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,043/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$144
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $443/mo
• Annual: $5,321/yr
• Cap rate: 18.12%
• Cash-on-cash: 42.23%
• DSCR: 2.88
• 1% rule: 2.32%
• Cash to close: $12,600

Investor read

• This is a 2-bed/2.0-bath single-family listed at $45k.
• At list price, monthly cash flow is $443 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 31 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.6%/yr); year-one equity from $311 of loan paydown is wiped out by about $702 of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#37 in CO, #4,551 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Haxtun School District No. Re-2J (rural): math 25% / reading 35% proficiency, ranked #109 of 176 in CO (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Haxtun Elementary School (reading 24%, 176 students, 30% FRL); Haxtun Jr/Sr High School (math 30% / reading 30%, grade F, #231 of 381 statewide, top 61%, 158 students, 26% FRL) — zoned schools at 28% FRL track the district average.
• Watch-outs: property tax is 3.3% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 6 units permitted in Phillips County in 2024 (0 in 5+ unit buildings).
• Phillips County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• At projected returns (-1.6% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.