337 & 341 Palmer St · Delta, CO 81416

$150,000

2 bd · 2.0 ba · 986 sqft · SingleFamily public records · 219 Days on market

Built 1939 6,969 sqft lot Est $262k · 43% under

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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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +5.3/10.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Incredible Investment Opportunity with 2 Bed, 2 Bath Home and Additional Lot a Block from Downtown! The discerning investor will see this property, and their imagination will run wild with creativity and innovation as they bring life to this unique offering. The existing home could be converted into a solid, single-family home, or converted into 2 rental units. Use the additional lot to add more to your empire! A large backyard with trees, alley access and privacy provides even more opportunity. Consolidate Your Assets into What Would be an Excellent Investment Property; Don't Sleep On It!

Key facts

• Alley access
• Privacy
• Large backyard

Tags

• INVESTMENT OPPORTUNITY
• ADDITIONAL LOT
• LARGE BACKYARD
• ALLEY ACCESS
• PRIVACY

Property features AI

Exterior

• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story home; Residential single-family property
• Construction: Masonry construction; Stucco exterior; Stick-built; Built as a single-story structure
• Exterior features: Patio; Shed(s); Back yard fencing

Interior

• Kitchen: Oven; Range
• Bedrooms: Primary bedroom on the main level
• Flooring: Laminate flooring; Partially carpeted
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating
• Interior features: Eat-in kitchen; Main-level primary bedroom; Unfurnished
• Laundry & utility: Crawl space

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 2.9% in Delta — 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 57/100 on livability (#313 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing A-; Watch: schools F, amenities F, commute F.
• Delta County Joint District No. 50 (town): math 29% / reading 43% proficiency, ranked #38 of 86 in CO (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 158 active listings in the ZIP; 113 units permitted in Delta County in 2024 (50 in 5+ unit buildings).
• This rent runs 37% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Delta County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 8→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 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 1939 — 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: 1.03% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.56%
• DSCR: 1.38
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $262,276
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 Dodge St	0.12mi	2/1.0	1,052 (+7%)	2mo	$253,000	$240	78
216 Meeker St	0.21mi	2/1.0	1,080 (+10%)	0mo	$275,000	$255	70
745 Howard St	0.48mi	2/1.0	1,012 (+3%)	4mo	$333,000	$329	66
831 Palmer St	0.42mi	3/2.0 (+1)	1,046 (+6%)	1mo	$290,000	$277	64
308 Grand Ave	0.26mi	2/1.0	1,088 (+10%)	3mo	$289,800	$266	64
523 Bluff St	0.40mi	3/2.0 (+1)	1,056 (+7%)	2mo	$287,500	$272	63
1029 Howard St	0.69mi	2/1.0	1,004 (+2%)	3mo	$265,000	$264	59
306 W 3rd St	0.13mi	3/2.0 (+1)	1,128 (+14%)	10mo	$295,000	$262	57
923 Grand Ave	0.59mi	3/2.0 (+1)	936 (-5%)	4mo	$235,000	$251	56
1015 Howard St	0.67mi	2/1.0	919 (-7%)	3mo	$260,000	$283	51
824 Meeker St	0.46mi	2/1.0	1,113 (+13%)	7mo	$257,000	$231	47
221 Leon St	0.52mi	2/1.0	858 (-13%)	8mo	$265,000	$309	44

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: -3.3%
• Equity multiple: 0.87×
• Total profit: $-5,278
• Equity at exit: $22,365

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $19,777
• Equity at exit: $12,969

Cash invested: $42,000 (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 81416

• Home prices YoY: -34.0%
• Active inventory: 158
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,548 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $299

Break-even live

Break-even rent $1,169

Max offer price $150,000

Occupancy floor 76%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-09
   days on market $150,000 Active 219 DOM
2. 2026-06-08
   days on market $150,000 Active 218 DOM
3. 2026-06-07
   days on market $150,000 Active 217 DOM
4. 2026-06-05
   days on market $150,000 Active 214 DOM
5. 2026-06-03
   days on market $150,000 Active 213 DOM
6. 2026-06-02
   days on market $150,000 Active 212 DOM
7. 2026-06-01
   days on market $150,000 Active 211 DOM
8. 2026-05-31
   days on market $150,000 Active 210 DOM
9. 2026-05-30
   days on market $150,000 Active 209 DOM
10. 2026-02-24
    status Active
11. 2025-12-03
    status Active
12. 2025-09-09
    listed $150,000 Active

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $893 · $74/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 8 d/yr ≥95°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,577
• − Mortgage interest: −$8,402
• − Property taxes: −$893
• − Insurance: −$750
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$4,364
• Taxable income: $1,196
• Est. tax owed @ 24.0%: −$287
• After-tax cash flow: $3,307/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: Delta County Joint District No. 50
• NCES district ID: 0803330
• Math proficiency: 29% ▼ -1.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $41,741
• Composite: 30.33/100
• National rank: #6268
• State rank: #38 of 86 in CO

Livability — Delta

• Score: 57/100
• State rank: #313
• US rank: #22051

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delta, CO
• County: Delta County · 14,256 people
• City population: 14,256
• Metro: Montrose, CO
• Population (ZIP): 14,256
• Household income: $50,243
• Rent vs Own: 28.6% rent · 71.4% own
• Severe rent burden: 289.0

Population outlook (Delta County) Hauer SSP2

• Today (2025): 27,529 people
• By 2030: 25,951 · -5.7%
• By 2040: 22,510 · -18.2%
• By 2050: 19,460 · -29.3%
• By 2075: 14,030 · -49.0%
• By 2100: 9,093 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 24% Two or more races 14% Native American 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 85% English-only · Spanish 14% Other Asian/Pacific 1%

Political lean MEDSL · Delta

• 2024 margin: Solid R (+35.5) · D 31.0% · R 66.5% · Other 2.6%
• 2008→2024 swing: -3.2pp toward R · 2008: -32.3pp · 2024: -35.5pp
• All cycles: 2024: R+35.5 2020: R+37.1 2016: R+45.2 2012: R+39.7 2008: R+32.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.96%
• Current HPI: 278.8786
• Rent YoY: —
• Metro: Montrose, CO
• 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

3 events — show timeline

• 2026-02-24 Relisted — cren
• 2025-12-03 Relisted — cren
• 2025-09-09 Listed $150,000 cren

Property tax history

+10.5%/yr

Latest (2025): $893 · +36.0% YoY. Source: county tax records.