18902 Hwy 50 · Rocky Ford, CO 81067

$239,000

16 bd · 16.0 ba · 1,920 sqft · MultiFamily · 206 Days on market

Built 1909 0.55 ac lot ↓ 27% since listing

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Why this score? — see what drove the B- 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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Here is one for the investors! A 4-plex that has been totally remodeled! This property is located close to downtown Rocky Ford. Driving distance to many of the surrounding towns is only 10-15 minutes. It has 4 one bed/1 bath units. Also, there is possible garage covering (entrance approximately 8' wide, depth approximately 17')for 4 vehicles that are on the smaller side, or these garage areas can be used for storage. With rentals in high demand, you wont want to pass this up!

Key facts

• Totally remodeled
• 0.55 acre lot
• Built 1909

Tags

• TOTALLY REMODELED
• CLOSE TO DOWNTOWN ROCKY FORD
• POSSIBLE GARAGE COVERING

Property features AI

Finance

• Other: Zoning: C-1
• HOA & community: No association amenities

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property — quadruplex (fourplex); 2 stories
• Construction: Frame and stucco construction; Metal roof
• Exterior features: Irregular lot

Interior

• Kitchen: Electric range
• Bedrooms: Four 1-bedroom units (each currently vacant)
• Bathrooms: 4 full bathrooms
• Heating & cooling: Baseboard electric heating
• Interior features: Double-pane windows; Electric range
• Laundry & utility: No on-site laundry indicated

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $239k.

Deal economics

• At list price, monthly cash flow is $790 ($9k/yr) — positive. Per door: $198/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 4.5% in Rocky Ford — 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 (#22 in CO, #2,671 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities D+, schools F, employment F.
• Rocky Ford School District No. R2 (town): math 24% / reading 36% proficiency, ranked #58 of 86 in CO (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 41 active listings in the ZIP; 11 units permitted in Otero County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Otero County population projected at -17% 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 $67k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 206 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $40k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.17%
• DSCR: 1.63
• GRM: 6.4

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: 4.5%
• Equity multiple: 1.17×
• Total profit: $11,648
• Equity at exit: $35,636

10-year hold

• IRR: 14.0%
• Equity multiple: 2.12×
• Total profit: $75,139
• Equity at exit: $20,664

Cash invested: $66,920 (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 81067

• Home prices YoY: -25.2%
• Active inventory: 41
• Price-to-rent: 25.8×

Monthly cashflow live

• Estimated rent: $3,091 medium
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$649
• Net cashflow: $790

Break-even live

Break-even rent $2,091

Max offer price $239,000

Occupancy floor 69%

Sensitivity live

Price	-10% $955	-5% $873	+0% $790	+5% $708	+10% $625
Rent	-10% $546	-5% $668	+0% $790	+5% $912	+10% $1,034
Rate	-1.0pp $911	-0.5pp $851	base $790	+0.5pp $728	+1.0pp $665

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,092
Total (4 units)			$3,091

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $239,000 Active 206 DOM
2. 2026-06-18
   days on market $239,000 Active 204 DOM
3. 2026-06-17
   days on market $239,000 Active 203 DOM
4. 2026-06-16
   days on market $239,000 Active 202 DOM
5. 2026-06-15
   days on market $239,000 Active 201 DOM
6. 2026-06-13
   days on market $239,000 Active 199 DOM
7. 2026-06-12
   days on market $239,000 Active 198 DOM
8. 2026-06-09
   days on market $239,000 Active 195 DOM
9. 2026-06-08
   days on market $239,000 Active 194 DOM
10. 2026-06-07
    days on market $239,000 Active 193 DOM
11. 2026-06-07
    days on market $239,000 Active 192 DOM
12. 2026-06-04
    days on market $239,000 Active 189 DOM
13. 2026-06-02
    days on market $239,000 Active 188 DOM
14. 2026-06-01
    days on market $239,000 Active 187 DOM
15. 2026-05-31
    days on market $239,000 Active 186 DOM
16. 2026-05-31
    days on market $239,000 Active 185 DOM
17. 2026-05-04
    price $239,000
18. 2026-05-04
    status Active
19. 2026-04-22
    historical Active Under Contract
20. 2025-11-27
    listed $279,000 Active
21. 2024-02-14
    listed $329,000 Active

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 6 d/yr ≥98°F today · 17 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: $37,092
• − Mortgage interest: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,967
• − Management: −$2,967
• − Depreciation: −$6,953
• Taxable income: $6,037
• Est. tax owed @ 24.0%: −$1,449
• After-tax cash flow: $8,034/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: Rocky Ford School District No. R2
• NCES district ID: 0806270
• Math proficiency: 24% ▲ 2.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $31,077
• Composite: 24.35/100
• National rank: #7694
• State rank: #58 of 86 in CO

Livability — Rocky Ford

• Score: 78/100
• State rank: #22
• US rank: #2671

Category grades

Amenities D+ Commute B 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

• Population (ZIP): 5,590

Population outlook (Otero County) Hauer SSP2

• Today (2025): 17,363 people
• By 2030: 16,776 · -3.4%
• By 2040: 15,534 · -10.5%
• By 2050: 14,467 · -16.7%
• By 2075: 12,054 · -30.6%
• By 2100: 9,392 · -45.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (56%)
• Race & ethnicity: Hispanic / Latino 56% White 40% Two or more races 22%
• Hispanic origin (detail): Mexican 45%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 82% English-only · Spanish 17%

Political lean MEDSL · Otero

• 2024 margin: Strong R (+26.4) · D 35.5% · R 61.9% · Other 2.7%
• 2008→2024 swing: -15.9pp toward R · 2008: -10.5pp · 2024: -26.4pp
• All cycles: 2024: R+26.4 2020: R+22.5 2016: R+25.2 2012: R+9.3 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.32%
• Current HPI: 214.2931
• 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

-27.4% since first listed

5 events — show timeline

• 2026-05-04 Price Changed $239,000 PARMLS
• 2026-05-04 Relisted — PARMLS
• 2026-04-22 Contingent — PARMLS
• 2025-11-27 Listed $279,000 PARMLS
• 2024-02-14 Listed $329,000 PARMLS