1605 Nevada Ave · Trinidad, CO 81082

$75,000

3 bd · 1.0 ba · 1,094 sqft · SingleFamily public records

Built 1941 6,250 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors/Builders. Customize this 3 bedroom 1 bath home to meet your needs. New roof! ''As Is'' without any warranties, representations or guarantees, either expressed or implied, of any kind, nature or type whatsoever from or on behalf of the Seller.

Key facts

• 6,250 sq ft lot
• Garage
• Built 1941

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 12.7% vs local median 3.1% in Trinidad — 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 58/100 on livability (#303 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime F, amenities F.
• Trinidad School District 1 In The County Of Las Animas And (town): math 6% / reading 27% proficiency, ranked #82 of 86 in CO (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 263 active listings in the ZIP; 43 units permitted in Las Animas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Las Animas County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 5y ago 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.
• Current owner paid $63k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 12.66%
• Cash-on-cash: 22.74%
• DSCR: 2.01
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $185,980
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 E Godding	0.32mi	3/1.0	1,075 (-2%)	4mo	$182,500	$170	79
1400 Arizona Ave	0.18mi	4/2.0 (+1)	1,207 (+10%)	1mo	$150,000	$124	64
225 E Godding Ave	0.23mi	2/1.0 (-1)	1,044 (-5%)	17mo	$199,000	$191	62
307 E Topeka Ave	0.44mi	2/1.0 (-1)	1,135 (+4%)	12mo	$145,000	$128	58
1314 Arizona St	0.22mi	2/1.0 (-1)	968 (-12%)	15mo	$127,500	$132	53
517 E White Ave	0.48mi	3/1.5	1,144 (+5%)	20mo	$185,000	$162	52
1415 Buena Vista St	0.47mi	3/1.0	1,008 (-8%)	24mo	$219,000	$217	45
925 San Pedro Ave	0.46mi	2/1.0 (-1)	1,240 (+13%)	20mo	$286,000	$231	35
224 E Kansas	0.56mi	2/1.0 (-1)	934 (-15%)	17mo	$230,000	$246	30
1611 Pinon St	0.57mi	3/1.0	1,256 (+15%)	24mo	$180,000	$143	29

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: 15.6%
• Equity multiple: 1.63×
• Total profit: $13,162
• Equity at exit: $11,183

10-year hold

• IRR: 24.2%
• Equity multiple: 3.09×
• Total profit: $43,969
• Equity at exit: $6,485

Cash invested: $21,000 (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 81082

• Home prices YoY: -21.1%
• Active inventory: 263
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,061 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$16 /mo · $189/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $398

Break-even live

Break-even rent $557

Max offer price $75,000

Occupancy floor 57%

Sensitivity live

Price	-10% $440	-5% $419	+0% $398	+5% $377	+10% $356
Rent	-10% $314	-5% $356	+0% $398	+5% $440	+10% $482
Rate	-1.0pp $436	-0.5pp $417	base $398	+0.5pp $379	+1.0pp $359

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2022-08-31
   soldstatus $63,000 262-char remark

   Show marketing remark (170 chars)

   ATTENTION INVESTORS!! this home is an investors dream with so much potential. This home is a 2 bedroom 1 bath home with a 1 car garage. This home is being sold ''As Is''

2. 2022-08-31
   soldstatus $63,000 262-char remark

   Show marketing remark (170 chars)

   ATTENTION INVESTORS!! this home is an investors dream with so much potential. This home is a 2 bedroom 1 bath home with a 1 car garage. This home is being sold ''As Is''

3. 2022-08-31
   soldstatus $63,000 170-char remark

   Show marketing remark (170 chars)

   ATTENTION INVESTORS!! this home is an investors dream with so much potential. This home is a 2 bedroom 1 bath home with a 1 car garage. This home is being sold ''As Is''

4. 2022-08-04
   historical
5. 2022-06-07
   listed $75,000 262-char remark

   Show marketing remark (262 chars)

   Attention Investors/Builders. Customize this 3 bedroom 1 bath home to meet your needs. New roof! ''As Is'' without any warranties, representations or guarantees, either expressed or implied, of any kind, nature or type whatsoever from or on behalf of the Seller.

6. 2022-06-07
   listed $75,000 262-char remark

   Show marketing remark (262 chars)

   Attention Investors/Builders. Customize this 3 bedroom 1 bath home to meet your needs. New roof! ''As Is'' without any warranties, representations or guarantees, either expressed or implied, of any kind, nature or type whatsoever from or on behalf of the Seller.

7. 2022-06-07
   listed $75,000

   Show marketing remark (262 chars)

   Attention Investors/Builders. Customize this 3 bedroom 1 bath home to meet your needs. New roof! ''As Is'' without any warranties, representations or guarantees, either expressed or implied, of any kind, nature or type whatsoever from or on behalf of the Seller.

8. 2022-06-06
   listed $75,000 170-char remark

   Show marketing remark (170 chars)

   ATTENTION INVESTORS!! this home is an investors dream with so much potential. This home is a 2 bedroom 1 bath home with a 1 car garage. This home is being sold ''As Is''

9. 2021-04-19
   soldstatus $50,000
10. 2021-04-19
    soldstatus $50,000
11. 2021-02-22
    listed $60,000

ⓘ 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: $189 · $16/mo
• Projected year-2 tax: $412 · $34/mo
• Expected delta: +$223/yr (+$19/mo · 118.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 3/10 Moderate 8 d/yr ≥89°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,734
• − Mortgage interest: −$4,201
• − Property taxes: −$189
• − Insurance: −$375
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$2,182
• Taxable income: $3,749
• Est. tax owed @ 24.0%: −$900
• After-tax cash flow: $3,876/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: Trinidad School District 1 In The County Of Las Animas And
• NCES district ID: 0806960
• Math proficiency: 6% ▼ -9.00%
• Reading proficiency: 27% ▼ -3.00%
• Median HH income: $37,538
• Composite: 13.74/100
• National rank: #9493
• State rank: #82 of 86 in CO

Livability — Trinidad

• Score: 58/100
• State rank: #303
• US rank: #21409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trinidad, CO
• Population (ZIP): 11,750

Population outlook (Las Animas County) Hauer SSP2

• Today (2025): 12,072 people
• By 2030: 10,972 · -9.1%
• By 2040: 8,825 · -26.9%
• By 2050: 7,245 · -40.0%
• By 2075: 5,139 · -57.4%
• By 2100: 3,922 · -67.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 53% Hispanic / Latino 41% Two or more races 18% Native American 4% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 90% English-only · Spanish 8% Other Asian/Pacific 1%

Political lean MEDSL · Las Animas

• 2024 margin: R (+13.5) · D 42.0% · R 55.5% · Other 2.4%
• 2008→2024 swing: -20.5pp toward R · 2008: 7.0pp · 2024: -13.5pp
• All cycles: 2024: R+13.5 2020: R+9.9 2016: R+15.6 2012: D+2.7 2008: D+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.04%
• Current HPI: 258.5479
• 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

+5.0% since first listed

11 events — show timeline

• 2022-08-31 Sold (MLS) $63,000 SPMLS
• 2022-08-31 Sold (MLS) $63,000 REColorado as Distributed by MLS Grid
• 2022-08-31 Sold (MLS) $63,000 IRES
• 2022-08-04 Delisted — PARMLS
• 2022-06-07 Listed $75,000 PARMLS
• 2022-06-07 Listed $75,000 REColorado as Distributed by MLS Grid
• 2022-06-07 Listed $75,000 IRES
• 2022-06-06 Listed $75,000 SPMLS
• 2021-04-19 Sold (Public Records) $50,000 Public Records
• 2021-04-19 Sold (MLS) $50,000 PARMLS
• 2021-02-22 Listed $60,000 PARMLS

Property tax history

-1.3%/yr

Latest (2025): $189 · +253.2% YoY. Source: county tax records.