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Limon 80828
488 E Avenue
$65,000
● House - Off Market

488 E Avenue

Limon, CO 80828
bedrooms
2 Beds
bathrooms
1 Bath
square feet
892 Ft²
$64,595
RealtyHop Estimate
-0.62%
Since Oct 1, 2023
National-US
Primary Model

About This Property

In the heart of a great neighborhood, this prime location backs up to the town park and the new swimming pool complex, within easy walking distance to downtown shopping, library, museums, and school. This vintage home is the perfect fixer upper for someone with a vision and ambition. At this price point, a little elbow grease, a few gallons of paint, and new flooring will turn this property into a profitable investment or an affordable home. Located in the heart of Eastern Colorado at Limon, small town hospitality abounds. Located just over an hour from Denver and Colorado Springs commuting is convenient. Call today to set up a tour or to get answers to your questions.
Unit Size
892 Ft²
Days on Market
-
Land Size
0.19 acres
Price per sqft
$73
Property Type
House
Property Taxes
$46
HOA Dues
-
Year Built
1913

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (REcolorado MLS #REC4362344)

Price History

Date / Event Date Event Price
Sep 7, 2023 Sold
Premium
Sold
Aug 11, 2023 Listed by RURAL AMERICAN REALTY $65,000
Listed by RURAL AMERICAN REALTY
Jan 13, 1993 Sold
Premium
Sold

Property Highlights

With View

Building Info

Overview

    General

  • Year Built: 1913
  • Effective Year Built: 1980
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 5
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 29
  • Interior Walls Type: 6
  • Roof Shape Type: 1
  • Roof Cover Type: 3
  • Floor Count: 100
  • Floor Cover: 9
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,364
  • Lot Size Depth Feet: 1,420
  • Lot Size Frontage Feet: 590
  • Total Building Area: 892
  • Gross Building Area: 892
  • Building Area: 892
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 892
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MEEHANS
  • Land Acres: 0000000192
  • Standard Land Use Code: 1001
  • Legal Description 1: N 9 LOT 19, ALL 20 BLK 12 MEEHANS ADDITION TO THE TOWN OF LIMON, CO.

Neighborhood

  • School District Name: Limon School District RE-4J
  • Census Tract: 961700

Geography

  • Account Number: R004705
  • Parcel: 258517312015
  • Block: 12
  • Lot: 19
  • Municipality: LIMON RE-4J
  • Latitude: 39.2649
  • Longitude: -103.688

    Address

  • Full Address: 488 E Ave
  • Address - House Number: 488
  • Address - Street Name: E
  • Address - Suffix Type: Ave
  • State: CO
  • City Name: Limon
  • Carrier Code: R777
  • 4-Digit Zip Code: 5080
  • Zip Code: 80828

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $28,824
  • Tax Rate Code Area: 450

    Appraisal Valuation

  • Standard Deviation: 0.4541
  • Valuation Date: Jan 31, 2024
  • Confidence Score: 9
  • Final Value: 291,725
  • High Value: 424,225
  • Low Value: 159,224

    Market Valuation

  • Market Total Value: $91,914
  • Market Land Value: $12,148
  • Market Improvement Value: $79,766

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $6,388
  • Assessed Land Value: $844
  • Assessed Improvements Value: $5,544

    Sales

  • Current Sale Contract Date: Sep 07, 2023
  • Current Sale Recording Date: Sep 07, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 358927
  • Previous Sale Recording Date: Jan 13, 1993
  • Previous Sale Contract Date: Jan 13, 1993
  • Previous Sale Amount: $16,500
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Limon

Stats & Trends

Median Asking:

$240,000

Sale Price/ft²

$194

Below Asking

0.02%

Average Days on Market

63

Average Home Size

1575 ft²

Average Home Age

70.4 years

Currently For Sale

21 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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Frequently Asked Questions

When was property at 488 E Avenue built and last sold?
The property at 488 E Avenue was built in 1913 and last sold on Sep 7, 2023 for $65,000.
How much is this home worth?
The estimated value of the home located at 488 E Avenue is $0.
What are some comparable homes to 488 E Avenue?
There are currently no comparable homes to 488 E Avenue.
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