38563 Monroe St · Agate, CO 80101

$185,000

3 bd · 1.0 ba · 925 sqft · SingleFamily public records · 113 Days on market

Built 1910 8,755 sqft lot

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Why this score? — see what drove the F 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 +8.1/30.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Schools +0.6/10.0

Listing remarks MLS

This 991 square foot home, built in 1910, is located in the peaceful rural community of Agate and offers a fantastic opportunity for buyers looking to add value and make a property their own. Featuring 3 bedrooms and 1 bathroom, this home has been used as a rental and provides a solid foundation for updates and improvements. Basement serves as a storm shelter at this time but could be finished for extra living space. Recent furnace maintenance upgrades add peace of mind as you plan your renovations. Outside, you'll appreciate the spacious yard, ideal for outdoor living, gardening, or future enhancements, along with a 3-car carport that offers ample covered parking and storage. Whether you're an investor, first-time buyer, or someone seeking an affordable project with upside, this property offers strong potential in a quiet small-town setting with room to grow. Cash or conventional financing preferred, making this a great option for buyers ready to move forward and unlock the possibilities this historic Agate home has to offer.

Key facts

• Spacious yard
• 3 car carport
• Storm shelter

Tags

• STORM SHELTER
• SPACIOUS YARD
• 3 CAR CARPORT

Property features AI

Finance

• Other: Zoned R-2
• Financial info: One total residential unit; Lease on file through 2026-05-31

Exterior

• Parking: 3 total parking spaces; 3-space carport; Gravel parking surface
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Septic tank sewer; Electricity connected (220 volts); Propane
• Home design: Single-family residence (residential); One story; Ground-level entry; Faces east; Currently listed as fixer; Live/work use allowed; Property unattached
• Construction: Block foundation; Block and vinyl siding construction; Shingle roof; Has partial, unfinished cellar basement (basement ceiling approx. 7 feet)
• Exterior features: Front porch; Partial fencing; Corner lot; Mixed vegetation; Gravel road frontage; Publicly maintained road

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms on the main level (approx. 12.5 x 10, 10 x 9, 9 x 8)
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: One three-quarter bathroom on the main level (approx. 8 x 5)
• Heating & cooling: Forced air heating
• Interior features: Ceiling fan(s); Carbon monoxide detector(s); Smoke detector(s)
• Laundry & utility: In-unit laundry; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-182 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (25.0% below list).
• Recommended offer: $139k (25.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Agate School District No. 300 (rural): math 0% / reading 0% proficiency, ranked #174 of 176 in CO (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Agate Elementary School (reading 24%, 53 students, 0% FRL); Agate Junior Senior High School (math 24% / reading 24%, 28 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 24% at this address vs 0% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the Agate School District No. 300 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 9 active listings in the ZIP; 780 units permitted in Elbert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.7% local appreciation)).
• Elbert County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 32% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,821 (25.0% 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. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.21%
• DSCR: 0.81
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.15×
• Total profit: $7,612
• Equity at exit: $79,870

10-year hold

• IRR: 6.2%
• Equity multiple: 1.91×
• Total profit: $47,308
• Equity at exit: $120,572

Cash invested: $51,800 (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 80101

• Home prices YoY: 1.3%
• Active inventory: 9
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,388 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $-182

Break-even live

Break-even rent $1,618

Max offer price $158,692

Occupancy floor —

Sensitivity live

Price	-10% $-54	-5% $-118	+0% $-182	+5% $-246	+10% $-310
Rent	-10% $-291	-5% $-237	+0% $-182	+5% $-127	+10% $-72
Rate	-1.0pp $-89	-0.5pp $-135	base $-182	+0.5pp $-230	+1.0pp $-279

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-22
   days on market $185,000 Active 113 DOM
2. 2026-06-21
   days on market $185,000 Active 112 DOM
3. 2026-06-19
   days on market $185,000 Active 110 DOM
4. 2026-06-18
   days on market $185,000 Active 109 DOM
5. 2026-06-17
   days on market $185,000 Active 108 DOM
6. 2026-06-16
   days on market $185,000 Active 107 DOM
7. 2026-06-15
   days on market $185,000 Active 106 DOM
8. 2026-06-14
   days on market $185,000 Active 104 DOM
9. 2026-06-12
   days on market $185,000 Active 103 DOM
10. 2026-06-09
    days on market $185,000 Active 100 DOM
11. 2026-06-08
    days on market $185,000 Active 99 DOM
12. 2026-06-07
    days on market $185,000 Active 98 DOM
13. 2026-06-05
    days on market $185,000 Active 96 DOM
14. 2026-06-04
    days on market $185,000 Active 94 DOM
15. 2026-06-02
    days on market $185,000 Active 93 DOM
16. 2026-06-01
    days on market $185,000 Active 92 DOM
17. 2026-05-31
    days on market $185,000 Active 91 DOM
18. 2026-05-31
    days on market $185,000 Active 90 DOM
19. 2026-04-03
    status Active 1048-char remark

    Show marketing remark (1048 chars)

    This 991 square foot home, built in 1910, is located in the peaceful rural community of Agate and offers a fantastic opportunity for buyers looking to add value and make a property their own. Featuring 3 bedrooms and 1 bathroom, this home has been used as a rental and provides a solid foundation for updates and improvements. Basement serves as a storm shelter at this time but could be finished for extra living space. Recent furnace maintenance upgrades add peace of mind as you plan your renovations. Outside, you'll appreciate the spacious yard, ideal for outdoor living, gardening, or future enhancements, along with a 3-car carport that offers ample covered parking and storage. Whether you're an investor, first-time buyer, or someone seeking an affordable project with upside, this property offers strong potential in a quiet small-town setting with room to grow. Cash or conventional financing preferred, making this a great option for buyers ready to move forward and unlock the possibilities this historic Agate home has to offer.

20. 2026-04-03
    price $185,000 1048-char remark

    Show marketing remark (1048 chars)

    This 991 square foot home, built in 1910, is located in the peaceful rural community of Agate and offers a fantastic opportunity for buyers looking to add value and make a property their own. Featuring 3 bedrooms and 1 bathroom, this home has been used as a rental and provides a solid foundation for updates and improvements. Basement serves as a storm shelter at this time but could be finished for extra living space. Recent furnace maintenance upgrades add peace of mind as you plan your renovations. Outside, you'll appreciate the spacious yard, ideal for outdoor living, gardening, or future enhancements, along with a 3-car carport that offers ample covered parking and storage. Whether you're an investor, first-time buyer, or someone seeking an affordable project with upside, this property offers strong potential in a quiet small-town setting with room to grow. Cash or conventional financing preferred, making this a great option for buyers ready to move forward and unlock the possibilities this historic Agate home has to offer.

21. 2026-04-03
    price $185,000 1048-char remark

    Show marketing remark (1048 chars)

    This 991 square foot home, built in 1910, is located in the peaceful rural community of Agate and offers a fantastic opportunity for buyers looking to add value and make a property their own. Featuring 3 bedrooms and 1 bathroom, this home has been used as a rental and provides a solid foundation for updates and improvements. Basement serves as a storm shelter at this time but could be finished for extra living space. Recent furnace maintenance upgrades add peace of mind as you plan your renovations. Outside, you'll appreciate the spacious yard, ideal for outdoor living, gardening, or future enhancements, along with a 3-car carport that offers ample covered parking and storage. Whether you're an investor, first-time buyer, or someone seeking an affordable project with upside, this property offers strong potential in a quiet small-town setting with room to grow. Cash or conventional financing preferred, making this a great option for buyers ready to move forward and unlock the possibilities this historic Agate home has to offer.

22. 2026-04-03
    status Active 1048-char remark

    Show marketing remark (1048 chars)

    This 991 square foot home, built in 1910, is located in the peaceful rural community of Agate and offers a fantastic opportunity for buyers looking to add value and make a property their own. Featuring 3 bedrooms and 1 bathroom, this home has been used as a rental and provides a solid foundation for updates and improvements. Basement serves as a storm shelter at this time but could be finished for extra living space. Recent furnace maintenance upgrades add peace of mind as you plan your renovations. Outside, you'll appreciate the spacious yard, ideal for outdoor living, gardening, or future enhancements, along with a 3-car carport that offers ample covered parking and storage. Whether you're an investor, first-time buyer, or someone seeking an affordable project with upside, this property offers strong potential in a quiet small-town setting with room to grow. Cash or conventional financing preferred, making this a great option for buyers ready to move forward and unlock the possibilities this historic Agate home has to offer.

23. 2026-03-07
    status Pending 1048-char remark

    Show marketing remark (1048 chars)

    This 991 square foot home, built in 1910, is located in the peaceful rural community of Agate and offers a fantastic opportunity for buyers looking to add value and make a property their own. Featuring 3 bedrooms and 1 bathroom, this home has been used as a rental and provides a solid foundation for updates and improvements. Basement serves as a storm shelter at this time but could be finished for extra living space. Recent furnace maintenance upgrades add peace of mind as you plan your renovations. Outside, you'll appreciate the spacious yard, ideal for outdoor living, gardening, or future enhancements, along with a 3-car carport that offers ample covered parking and storage. Whether you're an investor, first-time buyer, or someone seeking an affordable project with upside, this property offers strong potential in a quiet small-town setting with room to grow. Cash or conventional financing preferred, making this a great option for buyers ready to move forward and unlock the possibilities this historic Agate home has to offer.

24. 2026-03-07
    status Pending Accepting Backup Offers 1048-char remark

    Show marketing remark (1048 chars)

    This 991 square foot home, built in 1910, is located in the peaceful rural community of Agate and offers a fantastic opportunity for buyers looking to add value and make a property their own. Featuring 3 bedrooms and 1 bathroom, this home has been used as a rental and provides a solid foundation for updates and improvements. Basement serves as a storm shelter at this time but could be finished for extra living space. Recent furnace maintenance upgrades add peace of mind as you plan your renovations. Outside, you'll appreciate the spacious yard, ideal for outdoor living, gardening, or future enhancements, along with a 3-car carport that offers ample covered parking and storage. Whether you're an investor, first-time buyer, or someone seeking an affordable project with upside, this property offers strong potential in a quiet small-town setting with room to grow. Cash or conventional financing preferred, making this a great option for buyers ready to move forward and unlock the possibilities this historic Agate home has to offer.

25. 2026-02-02
    listed $140,000 Active 1048-char remark

    Show marketing remark (1048 chars)

    This 991 square foot home, built in 1910, is located in the peaceful rural community of Agate and offers a fantastic opportunity for buyers looking to add value and make a property their own. Featuring 3 bedrooms and 1 bathroom, this home has been used as a rental and provides a solid foundation for updates and improvements. Basement serves as a storm shelter at this time but could be finished for extra living space. Recent furnace maintenance upgrades add peace of mind as you plan your renovations. Outside, you'll appreciate the spacious yard, ideal for outdoor living, gardening, or future enhancements, along with a 3-car carport that offers ample covered parking and storage. Whether you're an investor, first-time buyer, or someone seeking an affordable project with upside, this property offers strong potential in a quiet small-town setting with room to grow. Cash or conventional financing preferred, making this a great option for buyers ready to move forward and unlock the possibilities this historic Agate home has to offer.

26. 2026-02-02
    listed $140,000 Active 1048-char remark

    Show marketing remark (1048 chars)

    This 991 square foot home, built in 1910, is located in the peaceful rural community of Agate and offers a fantastic opportunity for buyers looking to add value and make a property their own. Featuring 3 bedrooms and 1 bathroom, this home has been used as a rental and provides a solid foundation for updates and improvements. Basement serves as a storm shelter at this time but could be finished for extra living space. Recent furnace maintenance upgrades add peace of mind as you plan your renovations. Outside, you'll appreciate the spacious yard, ideal for outdoor living, gardening, or future enhancements, along with a 3-car carport that offers ample covered parking and storage. Whether you're an investor, first-time buyer, or someone seeking an affordable project with upside, this property offers strong potential in a quiet small-town setting with room to grow. Cash or conventional financing preferred, making this a great option for buyers ready to move forward and unlock the possibilities this historic Agate home has to offer.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 19 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: $16,659
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$5,382
• Taxable loss: −$5,452
• Est. tax savings @ 24.0%: +$1,308
• After-tax cash flow: $-873/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: Agate School District No. 300
• NCES district ID: 0801980
• Math proficiency: 0% ▲ 3.00%
• Reading proficiency: 0% ▲ 3.00%
• Median HH income: $61,003
• Composite: 6.44/100
• National rank: #14826
• State rank: #174 of 176 in CO

Livability — Agate

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 449

Population outlook (Elbert County) Hauer SSP2

• Today (2025): 28,793 people
• By 2030: 30,654 · +6.5%
• By 2040: 33,641 · +16.8%
• By 2050: 35,638 · +23.8%
• By 2075: 41,808 · +45.2%
• By 2100: 44,151 · +53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 8% Two or more races 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 8% Italian 4% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 9% French/Haitian/Cajun 2% German/W. Germanic 1%

Political lean MEDSL · Elbert

• 2024 margin: Solid R (+51.1) · D 23.4% · R 74.5% · Other 2.2%
• 2008→2024 swing: -11.1pp toward R · 2008: -40.0pp · 2024: -51.1pp
• All cycles: 2024: R+51.1 2020: R+50.2 2016: R+54.0 2012: R+47.2 2008: R+40.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.68%
• Current HPI: 207.1005
• 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

+32.1% since first listed

8 events — show timeline

• 2026-04-03 Relisted — IRES
• 2026-04-03 Price Changed $185,000 IRES
• 2026-04-03 Price Changed $185,000 REColorado as Distributed by MLS Grid
• 2026-04-03 Relisted — REColorado as Distributed by MLS Grid
• 2026-03-07 Pending — IRES
• 2026-03-07 Pending — REColorado as Distributed by MLS Grid
• 2026-02-02 Listed $140,000 REColorado as Distributed by MLS Grid
• 2026-02-02 Listed $140,000 IRES

Property tax history

+7.0%/yr

Latest (2025): $368 · +276.5% YoY. Source: county tax records.