302 S 3rd St · Lamar, CO 81052

$119,000

2 bd · 2.0 ba · 1,040 sqft · SingleFamily public records · 564 Days on market

Built 1913 7,000 sqft lot Est $145k · 18% under

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Why this score? — see what drove the D+ 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 +15.3/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• Livability +3.9/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming house with two bedrooms and two full bathrooms. Original Wood floors in bedrooms and tile floor in Kitchen. Spacious entry Foyer. House has grandfathered well. Forced Air Furnace is new in 2020 and roof was new in 2018. Large carport on the side and a detached garage in the back. At over 1000 Sq ft. , this house will not last. Call us to see it.

Key facts

• 7,000 sq ft lot
• 3 garage spots
• Built 1913

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 140 (0.161 acre); Zoned R
• Financial info: No additional financial details provided
• HOA & community: No association amenities

Exterior

• Parking: 3 garage spaces; Carport and detached garage/carport options listed
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single family residential
• Construction: Stucco exterior
• Exterior features: Metal roof; Shed(s) on the property; No patio or porch listed

Interior

• Kitchen: Range; Oven; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Forced air heating; Wall cooling unit(s)
• Interior features: Master bedroom on the main level; Wood window frames; No fireplace
• Laundry & utility: Washer; Dryer; Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $43 ($521/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 $96k (19.5% below list).
• Recommended offer: $96k (19.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.2% in Lamar — 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 78/100 on livability (#21 in CO, #2,616 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Lamar School District No. Re-2 (town): math 19% / reading 34% proficiency, ranked #65 of 86 in CO (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 49 active listings in the ZIP; 11 units permitted in Prowers County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Prowers County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 564 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $45k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $92k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,819 (19.5% below list)

Questions for the listing agent

1. It's been on market 564 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $144,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 E Oak St	0.15mi	3/1.0 (+1)	1,084 (+4%)	4mo	$151,000	$139	74
410 S 3rd St	0.10mi	2/1.0	980 (-6%)	16mo	$171,000	$174	68
804 S 9th St	0.61mi	2/1.0	1,040 (0%)	0mo	$155,000	$149	67
300 Division St	0.42mi	2/1.0	1,036 (-0%)	11mo	$30,000	$29	66
900 S 6th St	0.51mi	3/2.0 (+1)	1,066 (+2%)	1mo	$205,000	$192	66
303 Maxwell St #301	0.39mi	3/1.0 (+1)	991 (-5%)	5mo	$80,000	$81	61
303 Maxwell St #301	0.39mi	3/1.0 (+1)	991 (-5%)	5mo	$80,000	$81	61
710 S 7th St	0.48mi	2/1.0	1,124 (+8%)	8mo	$135,000	$120	54
210 Pine St	0.67mi	2/1.0	1,120 (+8%)	1mo	$205,000	$183	51
410 Oak Dr	0.48mi	3/1.0 (+1)	1,169 (+12%)	4mo	$50,000	$43	44
308 N 8th St	0.60mi	2/1.0	918 (-12%)	11mo	$122,500	$133	40
204 S 12th St	0.72mi	2/1.0	912 (-12%)	8mo	$165,000	$181	36

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: -13.9%
• Equity multiple: 0.50×
• Total profit: $-16,572
• Equity at exit: $17,743

10-year hold

• IRR: -5.1%
• Equity multiple: 0.67×
• Total profit: $-11,086
• Equity at exit: $10,289

Cash invested: $33,320 (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 81052

• Home prices YoY: -22.6%
• Active inventory: 49
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $958 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$40 /mo · $479/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $43

Break-even live

Break-even rent $903

Max offer price $119,000

Occupancy floor 90%

Sensitivity live

Price	-10% $111	-5% $77	+0% $43	+5% $10	+10% $-24
Rent	-10% $-32	-5% $6	+0% $43	+5% $81	+10% $119
Rate	-1.0pp $103	-0.5pp $74	base $43	+0.5pp $13	+1.0pp $-19

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $119,000 Active 564 DOM
2. 2026-06-18
   days on market $119,000 Active 562 DOM
3. 2026-06-17
   days on market $119,000 Active 561 DOM
4. 2026-06-16
   days on market $119,000 Active 560 DOM
5. 2026-06-15
   days on market $119,000 Active 559 DOM
6. 2026-06-13
   days on market $119,000 Active 557 DOM
7. 2026-06-12
   days on market $119,000 Active 556 DOM
8. 2026-06-09
   days on market $119,000 Active 553 DOM
9. 2026-06-08
   days on market $119,000 Active 552 DOM
10. 2026-06-07
    days on market $119,000 Active 551 DOM
11. 2026-06-07
    days on market $119,000 Active 550 DOM
12. 2026-06-04
    days on market $119,000 Active 547 DOM
13. 2026-06-02
    days on market $119,000 Active 546 DOM
14. 2026-06-01
    days on market $119,000 Active 545 DOM
15. 2026-05-31
    days on market $119,000 Active 544 DOM
16. 2026-05-31
    days on market $119,000 Active 543 DOM
17. 2026-02-01
    status Active
18. 2025-09-25
    price $119,000
19. 2025-07-22
    price $140,000
20. 2025-01-04
    price $154,000
21. 2024-12-03
    listed $164,000 Active
22. 2022-06-30
    soldstatus $92,000 357-char remark

    Show marketing remark (357 chars)

    Charming house with two bedrooms and two full bathrooms. Original Wood floors in bedrooms and tile floor in Kitchen. Spacious entry Foyer. House has grandfathered well. Forced Air Furnace is new in 2020 and roof was new in 2018. Large carport on the side and a detached garage in the back. At over 1000 Sq ft. , this house will not last. Call us to see it.

23. 2022-06-30
    soldstatus $92,000

    Show marketing remark (357 chars)

    Charming house with two bedrooms and two full bathrooms. Original Wood floors in bedrooms and tile floor in Kitchen. Spacious entry Foyer. House has grandfathered well. Forced Air Furnace is new in 2020 and roof was new in 2018. Large carport on the side and a detached garage in the back. At over 1000 Sq ft. , this house will not last. Call us to see it.

24. 2022-01-27
    listed $92,000 357-char remark

    Show marketing remark (357 chars)

    Charming house with two bedrooms and two full bathrooms. Original Wood floors in bedrooms and tile floor in Kitchen. Spacious entry Foyer. House has grandfathered well. Forced Air Furnace is new in 2020 and roof was new in 2018. Large carport on the side and a detached garage in the back. At over 1000 Sq ft. , this house will not last. Call us to see it.

25. 2018-07-02
    soldstatus $60,000
26. 2018-06-29
    soldstatus $60,000 454-char remark

    Show marketing remark (454 chars)

    Charming house with two bedrooms and two full bathrooms. Original Wood floors on bedrooms and New tile floor on Kitchen. Spacious entry Foyer. All appliances and RO system are staying. House has grandfathered well and well pump is one year old. Forced Air Furnace is new and roof is about two weeks old. Large carport on the side and a detached garage in the back. At over 1000 Sq ft. , this house will not last. Call us to see it, It is move-in Ready!!!

27. 2017-11-30
    listed $69,000 454-char remark

    Show marketing remark (454 chars)

    Charming house with two bedrooms and two full bathrooms. Original Wood floors on bedrooms and New tile floor on Kitchen. Spacious entry Foyer. All appliances and RO system are staying. House has grandfathered well and well pump is one year old. Forced Air Furnace is new and roof is about two weeks old. Large carport on the side and a detached garage in the back. At over 1000 Sq ft. , this house will not last. Call us to see it, It is move-in Ready!!!

ⓘ 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: $479 · $40/mo
• Projected year-2 tax: $654 · $55/mo
• Expected delta: +$175/yr (+$15/mo · 36.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 92% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥99°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: $11,498
• − Mortgage interest: −$6,666
• − Property taxes: −$479
• − Insurance: −$595
• − Repairs & maintenance: −$920
• − Management: −$920
• − Depreciation: −$3,462
• Taxable loss: −$1,544
• Est. tax savings @ 24.0%: +$370
• After-tax cash flow: $891/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: Lamar School District No. Re-2
• NCES district ID: 0805220
• Math proficiency: 19% ▼ -7.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $36,602
• Composite: 21.96/100
• National rank: #8216
• State rank: #65 of 86 in CO

Livability — Lamar

• Score: 78/100
• State rank: #21
• US rank: #2616

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lamar, CO
• Population (ZIP): 9,010

Population outlook (Prowers County) Hauer SSP2

• Today (2025): 10,654 people
• By 2030: 9,902 · -7.1%
• By 2040: 8,419 · -21.0%
• By 2050: 7,122 · -33.2%
• By 2075: 4,648 · -56.4%
• By 2100: 2,900 · -72.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Hispanic / Latino 41% Two or more races 15% Native American 1%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Portuguese 2% Slovak 1% Iranian 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 16%

Political lean MEDSL · Prowers

• 2024 margin: Solid R (+50.7) · D 23.9% · R 74.5% · Other 1.6%
• 2008→2024 swing: -16.9pp toward R · 2008: -33.7pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+45.9 2016: R+46.9 2012: R+35.4 2008: R+33.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.59%
• Current HPI: 279.7054
• 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

+72.5% since first listed

11 events — show timeline

• 2026-02-01 Relisted — PARMLS
• 2025-09-25 Price Changed $119,000 PARMLS
• 2025-07-22 Price Changed $140,000 PARMLS
• 2025-01-04 Price Changed $154,000 PARMLS
• 2024-12-03 Listed $164,000 PARMLS
• 2022-06-30 Sold (Public Records) $92,000 Public Records
• 2022-06-30 Sold (MLS) $92,000 PARMLS
• 2022-01-27 Listed $92,000 PARMLS
• 2018-07-02 Sold (Public Records) $60,000 Public Records
• 2018-06-29 Sold (MLS) $60,000 PARMLS
• 2017-11-30 Listed $69,000 PARMLS

Property tax history

+21.0%/yr

Latest (2025): $479 · +194.5% YoY. Source: county tax records.