9090 County Rd 45.4

Segundo, CO 81082

$69,000B-

3 bd · 1.0 ba · 1,350 sqft · Built 1911 · SingleFamily · Active · 504 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,213/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $549/mo
• Annual: $6,584/yr
• Cap rate: 15.84%
• Cash-on-cash: 34.08%
• DSCR: 2.52
• 1% rule: 1.76%
• Cash to close: $19,320

Investor read

• This is a 3-bed/1.0-bath single-family listed at $69k.
• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• It's been on market 504 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 53/100 on livability (#376 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A; Watch: health & safety C-, housing D+, crime F.
• Primero Reorganized School District No. 2 (rural): math 35% / reading 55% proficiency, ranked #31 of 176 in CO (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Primero Elementary School (math 24% / reading 44%, grade F, #430 of 966 statewide, top 47%, 145 students, 45% FRL); Primero Junior-Senior High School (math 12% / reading 32%, grade F, #307 of 381 statewide, top 82%, 113 students, 50% FRL).
• Zoned-school proficiency averages 28% at this address vs 45% district-wide (-17 pts) — the specific schools serving this property underperform the Primero Reorganized School District No. 2 average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 264 active listings in the ZIP; 43 units permitted in Las Animas County in 2024 (0 in 5+ unit buildings).
• Las Animas County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $13k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 504 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1911 — 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 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?
• 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?
• 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.
• 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.