8 E 8th St · Flagler, CO 80815

$320,000

3 bd · 2.0 ba · 2,204 sqft · MultiFamily public records · 27 Days on market

Built 2020

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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).

• Appreciation +9.9/10.0
• Cash flow +7.6/30.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.4/10.0

Multi-family units

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

Listing remarks MLS

Newer duplex built in 2020 with low maintenance and high rental demand. Each side of the duplex consists of 3 beds and 2 baths. Each unit has their own independent AC, furnace, washer and dryer, and water heater. Tile floor throughout except in the primary bedroom where its carpeted. Located on a corner lot with an irrigation system. Few vacancies.

Key facts

• 4 parking spots
• Built 2020
• Listed 27 days

Property features AI

Finance

• Other: Living area 2,204 (public records)
• Financial info: Gross income: $30,600; Operating expenses: $18,336; Owner pays grounds care, trash collection, and water; Tenants pay electricity, gas, and internet; Current lease through 2027-05-18 with monthly lease amount of $1,250

Exterior

• Parking: 4 off-street parking spaces (total 4)
• Utilities: Public water; Public sewer; Electricity connected (220 volts); Natural gas connected
• Home design: Duplex residential income property; One level; Agent-owned
• Construction: Vinyl siding
• Exterior features: Rain gutters; Composition roof

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 4 bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Updated/remodeled condition; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $320k.

Deal economics

• At list price, monthly cash flow is $-383 ($-5k/yr) — negative. Per door: $-192/mo.
• To cash-flow at today's rent, offer at most $252k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (36.4% below list).
• Recommended offer: $204k (36.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#323 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Arriba-Flagler Consolidated School District No. 20 (rural): math 20% / reading 35% proficiency, ranked #125 of 176 in CO (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 9 active listings in the ZIP; 3 units permitted in Kit Carson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $33k of equity ($2k loan paydown + $31k appreciation (9.7% local appreciation)).
• Kit Carson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask is 19% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $270k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $203,500 (36.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
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: 0.64% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.13%
• DSCR: 0.77
• GRM: 13.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.61×
• Total profit: $144,085
• Equity at exit: $282,229

10-year hold

• IRR: 18.4%
• Equity multiple: 5.93×
• Total profit: $441,823
• Equity at exit: $602,308

Cash invested: $89,600 (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 80815

• Home prices YoY: 4.2%
• Active inventory: 9
• Price-to-rent: 26.2×

Monthly cashflow live

• Estimated rent: $2,035 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$179 /mo · $2,152/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-383

Break-even live

Break-even rent $2,520

Max offer price $252,320

Occupancy floor —

Sensitivity live

Price	-10% $-202	-5% $-293	+0% $-383	+5% $-474	+10% $-564
Rent	-10% $-544	-5% $-464	+0% $-383	+5% $-303	+10% $-222
Rate	-1.0pp $-222	-0.5pp $-302	base $-383	+0.5pp $-466	+1.0pp $-550

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,034
Total (2 units)			$2,035

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $320,000 Active 27 DOM
2. 2026-06-19
   days on market $320,000 Active 25 DOM
3. 2026-06-18
   days on market $320,000 Active 24 DOM
4. 2026-06-17
   days on market $320,000 Active 23 DOM
5. 2026-06-16
   days on market $320,000 Active 22 DOM
6. 2026-06-15
   days on market $320,000 Active 21 DOM
7. 2026-06-14
   days on market $320,000 Active 19 DOM
8. 2026-06-12
   days on market $320,000 Active 18 DOM
9. 2026-06-09
   days on market $320,000 Active 15 DOM
10. 2026-06-08
    days on market $320,000 Active 14 DOM
11. 2026-06-07
    days on market $320,000 Active 13 DOM
12. 2026-06-05
    days on market $320,000 Active 11 DOM
13. 2026-06-04
    days on market $320,000 Active 9 DOM
14. 2026-06-02
    days on market $320,000 Active 8 DOM
15. 2026-06-01
    days on market $320,000 Active 7 DOM
16. 2026-05-31
    days on market $320,000 Active 6 DOM
17. 2026-05-31
    days on market $320,000 Active 5 DOM
18. 2026-05-18
    historical $320,000 350-char remark

    Show marketing remark (350 chars)

    Newer duplex built in 2020 with low maintenance and high rental demand. Each side of the duplex consists of 3 beds and 2 baths. Each unit has their own independent AC, furnace, washer and dryer, and water heater. Tile floor throughout except in the primary bedroom where its carpeted. Located on a corner lot with an irrigation system. Few vacancies.

19. 2026-05-18
    historical $320,000 350-char remark

    Show marketing remark (350 chars)

    Newer duplex built in 2020 with low maintenance and high rental demand. Each side of the duplex consists of 3 beds and 2 baths. Each unit has their own independent AC, furnace, washer and dryer, and water heater. Tile floor throughout except in the primary bedroom where its carpeted. Located on a corner lot with an irrigation system. Few vacancies.

20. 2022-01-31
    soldstatus $269,900 229-char remark

    Show marketing remark (229 chars)

    Building is approx 1 year old. Each 3 bed 2 bath unit rents for 1400 month and has few vacancies. All appliances including waher and dryer included. located on a corner lot. Lot has sidewalks, trees, grass and sprinkler system

21. 2021-12-03
    listed $269,900 229-char remark

    Show marketing remark (229 chars)

    Building is approx 1 year old. Each 3 bed 2 bath unit rents for 1400 month and has few vacancies. All appliances including waher and dryer included. located on a corner lot. Lot has sidewalks, trees, grass and sprinkler system

22. 2021-01-25
    historical
23. 2020-08-09
    listed $269,900

ⓘ 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: $2,152 · $179/mo
• Projected year-2 tax: $2,152 · $179/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $24,420
• − Mortgage interest: −$17,925
• − Property taxes: −$2,152
• − Insurance: −$1,600
• − Repairs & maintenance: −$1,954
• − Management: −$1,954
• − Depreciation: −$9,309
• Taxable loss: −$10,473
• Est. tax savings @ 24.0%: +$2,514
• After-tax cash flow: $-2,084/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: Arriba-Flagler Consolidated School District No. 20
• NCES district ID: 0802260
• Math proficiency: 20% ▼ -5.00%
• Reading proficiency: 35% ▲ 5.00%
• Median HH income: $41,527
• Composite: 26.23/100
• National rank: #12701
• State rank: #125 of 176 in CO

Livability — Flagler

• Score: 56/100
• State rank: #323
• US rank: #22421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Flagler, CO
• Population (ZIP): 895

Population outlook (Kit Carson County) Hauer SSP2

• Today (2025): 8,035 people
• By 2030: 7,910 · -1.6%
• By 2040: 7,764 · -3.4%
• By 2050: 7,559 · -5.9%
• By 2075: 7,359 · -8.4%
• By 2100: 9,230 · +14.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Portuguese 2% Lithuanian 2%
• Foreign-born: 4%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Kit Carson

• 2024 margin: Solid R (+68.3) · D 15.0% · R 83.4% · Other 1.6%
• 2008→2024 swing: -23.5pp toward R · 2008: -44.8pp · 2024: -68.3pp
• All cycles: 2024: R+68.3 2020: R+64.1 2016: R+65.5 2012: R+53.2 2008: R+44.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.74%
• Current HPI: 240.2957
• 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

+18.6% since first listed

6 events — show timeline

• 2026-05-18 Coming Soon $320,000 IRES
• 2026-05-18 Coming Soon $320,000 REColorado as Distributed by MLS Grid
• 2022-01-31 Sold (MLS) $269,900 IRES
• 2021-12-03 Listed $269,900 IRES
• 2021-01-25 Listing Removed — IRES
• 2020-08-09 Listed $269,900 IRES

Property tax history

+1.2%/yr

Latest (2025): $2,152 · +36.5% YoY. Source: county tax records.