505 Homer Ave · Rocky Ford, CO 81067

$105,471

2 bd · 1.0 ba · 1,023 sqft · SingleFamily public records · 15 Days on market

Built 1959 8,712 sqft lot Est $123k · 14% under

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Why this score? — see what drove the D+ 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 +14.7/30.0
• ARV discount +13.8/15.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready home with newer laminate flooring and carpet, newer interior paint, updated light fixtures, new vinyl windows, new roof. Homes comes with new fridge and new oven. This home has a refinished hobby room with new 3/4 bath off the garage/shop. 1 car garage with workshop has new wiring. 1 car carport. Lots of great storage! Newer landscaping with drip system and sprinkler system. Great home, don't miss out!

Key facts

• One car garage
• Large mature trees
• Off street parking

Tags

• SPRAWLING LOT
• LARGE MATURE TREES
• OFF STREET PARKING
• ONE CAR GARAGE
• SHED IN REAR YARD
• COVERED PATIO

Property features AI

Exterior

• Parking: Carport; 2 parking spaces
• Utilities: City water; Public sewer
• Home design: Single-family residence; One level; Previously owned
• Construction: Frame construction with wood siding; Other roof type
• Exterior features: No crops on property

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: Forced air heating

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $27 ($327/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (9.3% below list).
• Recommended offer: $96k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.6% in Rocky Ford — 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 78/100 on livability (#22 in CO, #2,671 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities D+, employment F.
• Rocky Ford School District No. R2 (town): math 24% / reading 36% proficiency, ranked #58 of 86 in CO (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Washington Primary School (148 students, 83% FRL); Rocky Ford Junior/Senior High School (math 12% / reading 37%, grade F, #266 of 381 statewide, top 79%, 285 students, 71% FRL).
• Market conditions: 41 active listings in the ZIP; 11 units permitted in Otero County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $729 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Otero County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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; list at $105k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,709 (9.3% below list)

Questions for the listing agent

1. Built in 1959 — 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. 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?
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: 0.91% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.11%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $122,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
622 S 6th St	0.10mi	2/1.0	1,026 (+0%)	2mo	$132,000	$129	93
606 S 10th St	0.42mi	2/1.0	1,036 (+1%)	4mo	$35,000	$34	75
311 Sycamore	0.21mi	2/1.0	1,104 (+8%)	5mo	$29,000	$26	73
611 S 6th St	0.05mi	3/1.0 (+1)	1,152 (+13%)	13mo	$83,000	$72	61
1203 Maple Ave	0.62mi	3/1.0 (+1)	998 (-2%)	2mo	$42,500	$43	60
402 N 4th St	0.47mi	2/1.0	1,066 (+4%)	15mo	$127,500	$120	58
500 N 11 St	0.73mi	3/1.0 (+1)	1,040 (+2%)	1mo	$139,900	$135	58
817 S Main St	0.36mi	2/1.0	1,170 (+14%)	3mo	$75,000	$64	57
410 N 4th St	0.51mi	3/1.0 (+1)	969 (-5%)	7mo	$44,900	$46	57
503 Elm Ave	0.41mi	3/2.0 (+1)	955 (-7%)	20mo	$127,000	$133	44
510 Chestnut Ave	0.50mi	2/1.0	884 (-14%)	14mo	$120,000	$136	42
1005 Maple Ave	0.49mi	2/2.0	1,165 (+14%)	11mo	$190,000	$163	41

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-15,343
• Equity at exit: $15,726

10-year hold

• IRR: -5.8%
• Equity multiple: 0.63×
• Total profit: $-11,070
• Equity at exit: $9,119

Cash invested: $29,532 (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 81067

• Home prices YoY: -25.2%
• Active inventory: 41
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $957 medium
• Mortgage (P&I): −$553
• Tax est. 1.5%: −$132 /mo · $1,582/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $27

Break-even live

Break-even rent $923

Max offer price $105,471

Occupancy floor 92%

Sensitivity live

Price	-10% $100	-5% $64	+0% $27	+5% $-9	+10% $-46
Rent	-10% $-48	-5% $-11	+0% $27	+5% $65	+10% $103
Rate	-1.0pp $80	-0.5pp $54	base $27	+0.5pp $0	+1.0pp $-28

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: $26,368
• Closing costs: $3,164
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-12
   listed $105,471 Active
2. 2013-08-23
   soldstatus $62,600
3. 2013-08-20
   soldstatus $62,500 419-char remark

   Show marketing remark (419 chars)

   Move in ready home with newer laminate flooring and carpet, newer interior paint, updated light fixtures, new vinyl windows, new roof. Homes comes with new fridge and new oven. This home has a refinished hobby room with new 3/4 bath off the garage/shop. 1 car garage with workshop has new wiring. 1 car carport. Lots of great storage! Newer landscaping with drip system and sprinkler system. Great home, don't miss out!

4. 2013-03-25
   listed $65,000 419-char remark

   Show marketing remark (419 chars)

   Move in ready home with newer laminate flooring and carpet, newer interior paint, updated light fixtures, new vinyl windows, new roof. Homes comes with new fridge and new oven. This home has a refinished hobby room with new 3/4 bath off the garage/shop. 1 car garage with workshop has new wiring. 1 car carport. Lots of great storage! Newer landscaping with drip system and sprinkler system. Great home, don't miss out!

5. 2009-11-02
   soldstatus $58,000
6. 2009-10-30
   soldstatus $58,000 187-char remark

   Show marketing remark (187 chars)

   An attractive home with carport and garage. Located on a quiet street. Updated with newer heating and cooling. Great home for a small family or retired couple. Lots of spacious built-ins.

7. 2009-05-03
   listed $65,000 187-char remark

   Show marketing remark (187 chars)

   An attractive home with carport and garage. Located on a quiet street. Updated with newer heating and cooling. Great home for a small family or retired couple. Lots of spacious built-ins.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $11,485
• − Mortgage interest: −$5,908
• − Property taxes: −$1,582
• − Insurance: −$527
• − Repairs & maintenance: −$919
• − Management: −$919
• − Depreciation: −$3,068
• Taxable loss: −$1,438
• Est. tax savings @ 24.0%: +$345
• After-tax cash flow: $672/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: Rocky Ford School District No. R2
• NCES district ID: 0806270
• Math proficiency: 24% ▲ 2.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $31,077
• Composite: 24.35/100
• National rank: #7694
• State rank: #58 of 86 in CO

Livability — Rocky Ford

• Score: 78/100
• State rank: #22
• US rank: #2671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rocky Ford, CO
• Population (ZIP): 5,590

Population outlook (Otero County) Hauer SSP2

• Today (2025): 17,363 people
• By 2030: 16,776 · -3.4%
• By 2040: 15,534 · -10.5%
• By 2050: 14,467 · -16.7%
• By 2075: 12,054 · -30.6%
• By 2100: 9,392 · -45.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (56%)
• Race & ethnicity: Hispanic / Latino 56% White 40% Two or more races 22%
• Hispanic origin (detail): Mexican 45%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 82% English-only · Spanish 17%

Political lean MEDSL · Otero

• 2024 margin: Strong R (+26.4) · D 35.5% · R 61.9% · Other 2.7%
• 2008→2024 swing: -15.9pp toward R · 2008: -10.5pp · 2024: -26.4pp
• All cycles: 2024: R+26.4 2020: R+22.5 2016: R+25.2 2012: R+9.3 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.32%
• Current HPI: 214.2931
• 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

+62.3% since first listed

7 events — show timeline

• 2026-05-12 Listed $105,471 IRES
• 2013-08-23 Sold (Public Records) $62,600 Public Records
• 2013-08-20 Sold (MLS) $62,500 PARMLS
• 2013-03-25 Listed $65,000 PARMLS
• 2009-11-02 Sold (Public Records) $58,000 Public Records
• 2009-10-30 Sold (MLS) $58,000 PARMLS
• 2009-05-03 Listed $65,000 PARMLS

Property tax history

-10.4%/yr

Latest (2024): $147 · -0.2% YoY. Source: county tax records.