1204 Main St · Springfield, CO 81073

$115,000

3 bd · 2.0 ba · 1,344 sqft · Other · 279 Days on market

Built 1974 10,500 sqft lot ↓ 15% since listing

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Why this score? — see what drove the C- 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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Appreciation +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

PRICE REDUCED! This spacious 3-bedroom, 2-bath home sits on a generously sized lot in a convenient location close to shopping and entertainment. The home features central heating, all major kitchen appliances, and brand-new flooring throughout. Enjoy the fully fenced in front and backyard, along with a great back patio/deck—perfect for relaxing or entertaining. Don't miss out on this great opportunity—call today to schedule your showing!

Key facts

• Central heat
• New flooring
• Back patio deck

Tags

• CENTRAL HEAT
• WINDOW AIR CONDITIONING
• MAJOR KITCHEN APPLIANCES
• NEW FLOORING
• FENCE AROUND YARD
• BACK PATIO DECK

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: No garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential mobile home
• Construction: Frame construction with metal siding; Composition roof
• Exterior features: Patio; Corner lot

Interior

• Kitchen: Range; Oven; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Natural gas forced-air heating; Wall cooling unit(s)
• Interior features: Master bedroom located on the main level; Double-pane windows
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#145 in CO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Springfield School District No. Re-4 (rural): math 20% / reading 25% proficiency, ranked #149 of 176 in CO (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 15 active listings in the ZIP; 5 units permitted in Baca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (3.0% local appreciation)).
• Baca County population projected at -27% 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 $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 279 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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 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?
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: 1.02% ✓
• Cap rate: 7.66%
• Cash-on-cash: 4.87%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.1%
• Equity multiple: 1.69×
• Total profit: $22,198
• Equity at exit: $51,709

10-year hold

• IRR: 14.1%
• Equity multiple: 3.09×
• Total profit: $67,396
• Equity at exit: $79,690

Cash invested: $32,200 (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 81073

• Active inventory: 15
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,172 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $131

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 84%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $115,000 Active 279 DOM
2. 2026-06-17
   days on market $115,000 Active 278 DOM
3. 2026-06-16
   days on market $115,000 Active 277 DOM
4. 2026-06-15
   days on market $115,000 Active 276 DOM
5. 2026-06-13
   days on market $115,000 Active 274 DOM
6. 2026-06-12
   days on market $115,000 Active 273 DOM
7. 2026-06-09
   days on market $115,000 Active 270 DOM
8. 2026-06-08
   days on market $115,000 Active 269 DOM
9. 2026-06-07
   days on market $115,000 Active 268 DOM
10. 2026-06-07
    days on market $115,000 Active 267 DOM
11. 2026-06-04
    days on market $115,000 Active 264 DOM
12. 2026-06-02
    days on market $115,000 Active 263 DOM
13. 2026-06-01
    days on market $115,000 Active 262 DOM
14. 2026-05-31
    days on market $115,000 Active 261 DOM
15. 2026-05-31
    days on market $115,000 Active 260 DOM
16. 2026-03-31
    price $115,000
17. 2025-09-12
    listed $135,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,058
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,125
• − Management: −$1,125
• − Depreciation: −$3,345
• Taxable loss: −$279
• Est. tax savings @ 24.0%: +$67
• After-tax cash flow: $1,636/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: Springfield School District No. Re-4
• NCES district ID: 0806630
• Math proficiency: 20% ▲ 5.00%
• Reading proficiency: 25% ▲ 5.00%
• Median HH income: $33,541
• Composite: 21.55/100
• National rank: #13620
• State rank: #149 of 176 in CO

Livability — Springfield

• Score: 66/100
• State rank: #145
• US rank: #12006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, CO
• Population (ZIP): 1,880

Population outlook (Baca County) Hauer SSP2

• Today (2025): 3,249 people
• By 2030: 3,053 · -6.0%
• By 2040: 2,691 · -17.2%
• By 2050: 2,362 · -27.3%
• By 2075: 1,812 · -44.2%
• By 2100: 1,263 · -61.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 5% Asian 4%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 4% Slovak 2% Serbian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 2% Vietnamese 2% Tagalog/Filipino 1%

Political lean MEDSL · Baca

• 2024 margin: Solid R (+70.4) · D 13.7% · R 84.1% · Other 2.1%
• 2008→2024 swing: -22.8pp toward R · 2008: -47.6pp · 2024: -70.4pp
• All cycles: 2024: R+70.4 2020: R+69.7 2016: R+68.2 2012: R+52.1 2008: R+47.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-14.8% since first listed

2 events — show timeline

• 2026-03-31 Price Changed $115,000 PARMLS
• 2025-09-12 Listed $135,000 PARMLS

Property tax history

+3.1%/yr

Latest (2021): $52 · -0.8% YoY. Source: county tax records.