302 6th St

Fowler, CO 81039

$94,700C+

2 bd · 1.0 ba · 936 sqft · Built 1904 · SingleFamily · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $877/mo
• Mortgage (P&I): −$497
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$184
• Net cashflow: $39/mo
• Annual: $463/yr
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• 1% rule: 0.93%
• Cash to close: $26,516

Investor read

• This is a 2-bed/1.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $39 ($463/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 $88k (7.4% below list).
• It's been on market 51 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (7.4% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($655 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#66 in CO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, amenities F, employment D-.
• Fowler School District No. R4J (rural): math 29% / reading 41% proficiency, ranked #80 of 176 in CO (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fowler Elementary School (math 24% / reading 42%, grade F, #458 of 966 statewide, top 48%, 180 students, 52% FRL); Fowler Junior High School (math 30% / reading 50%, grade F, #82 of 270 statewide, top 30%, 63 students, 46% FRL); Fowler High School (math 30% / reading 50%, grade F, #167 of 381 statewide, top 46%, 104 students, 43% FRL).
• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 11 units permitted in Otero County in 2024 (0 in 5+ unit buildings).
• Otero County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 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 (10.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.