605 S Utah Ave

Haxtun, CO 80731

$149,900F

2 bd · 1.0 ba · 936 sqft · Built 1918 · SingleFamily · Active · 352 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $885/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$186
• Net cashflow: $-211/mo
• Annual: $-2,535/yr
• Cap rate: 4.60%
• Cash-on-cash: -6.04%
• DSCR: 0.73
• 1% rule: 0.59%
• Cash to close: $41,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (24.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (41.0% below list).
• It's been on market 352 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (41.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.6%/yr); year-one equity from $1k of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#37 in CO, #4,551 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Haxtun School District No. Re-2J (rural): math 25% / reading 35% proficiency, ranked #109 of 176 in CO (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Haxtun Elementary School (reading 24%, 176 students, 30% FRL); Haxtun Jr/Sr High School (math 30% / reading 30%, grade F, #231 of 381 statewide, top 61%, 158 students, 26% FRL) — zoned schools at 28% FRL track the district average.
• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 6 units permitted in Phillips County in 2024 (0 in 5+ unit buildings).
• Phillips County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $150k implies a 899% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• 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?
• It's been on market 352 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
• Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• 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.