LOOK: The Least Expensive Home Currently For Sale in Colorado
Are you searching for affordable housing in Colorado? Good luck with that. There is a home on the market right now, June 23, 2022, and it's listed at under $40,000. Here's a quick tour.
If you're willing to put a ton of sweat equity into a home, this might be the investment you've been looking for.
Fixer Upper In Walsenburg, Colorado
The Realtor.com listing for this property at 415 W Spruce St, Walsenburg, Colorado reads:
Are you a fixer, a dreamer, flipper, or a magician? Are you the type that can see past what lays at your feet and see the diamond in the rough? With your imagination and the crafty skills of a general contractor you could turn this rough property into a diamond. This would make a great rental that is sorely needed in the area.
Located In a Nice Area
Looking at Google Maps, it appears as though this house is surrounded by a number of nice properties. West Spruce Street appears to be a quiet little road in a strictly residential area.
Where Exactly Is Walsenburg, Colorado?
You'll find Walsenburg off of I-25 roughly 91 miles south of Colorado Springs.
Specs On This House
According to Realtor.com, this house features:
- 1,182 square feet
- 2 bedrooms
- 1 full bath
- 4,966 square foot lot
This house is no youngster, having been built in 1902. That's right, it's 120 years old.
This property was found by doing a search on Realtor.com filtered down to "lowest price" for a "single-family home" in the state of Colorado. It is listed at $35,000.
It Can Be Done
I dabble from time to time with income properties. I purchased a home in Grand Junction, Colorado built in 1908. It's been a ton of work, and at times, a real money pit. On the other hand, they're not making any more land, and property values are out of this world.
That house I purchased 18 years ago for way too much money is now worth twice what I paid for it. Has it been easy? Not at all. Has it been worth it? That depends on when you ask me. Right here, right now, after all the repairs and upgrades, I'm barely breaking even. In a few years, though, assuming the market doesn't collapse (knock on wood), it should prove to be an excellent investment. Factors such as the house's location and the ever-expanding Colorado Mesa University will ultimately play a role in how this investment unfolds.
That's in the eye of the beholder. If you can do the work yourself, this may be a great opportunity. Obviously, the land alone has value. Looking at Realtor.com, undeveloped lots in this area are selling between $5,000 and $12,000. For that matter, a two-bedroom trailer home with approximately the same square footage, but with far more land, is listed at $1,500,000.
Like I always say with these posts, I'm not a realtor, nor am I affiliated with the listing agent or their company. I have no interest in this sale.