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619 E 9th Street
Leadville, CO

619 E 9th Street

$519,900
2 bd • 2 ba • 840 sf

This analysis was generated by artificial intelligence on 2/5/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$519,900

Price/Sq.Ft

$619

Year Built

2019

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Modern Construction: Built in 2019, this home offers modern amenities and construction standards, potentially reducing maintenance costs compared to older properties in Leadville. Newer construction often incorporates energy-efficient features, leading to lower utility bills. • Expansion Potential: The property includes nearly three city lots, providing ample space for adding a detached garage and/or an Accessory Dwelling Unit (ADU). This offers significant potential for increasing property value and generating rental income. • Panoramic Views: The property boasts sweeping panoramic views of the Rockies and downtown Leadville, a highly desirable feature that adds to the property's appeal and market value. Mountain views are a significant draw for buyers in this area. • Energy Efficiency: Designed with energy efficiency in mind, the home likely incorporates features such as good insulation, energy-efficient windows, and a modern heating system. This translates to lower utility bills and a smaller environmental footprint.

The Bad

• High Price per Square Foot: At $618.93 per square foot, this property is significantly more expensive than the average for single-family homes in Colorado. While new construction and location contribute to the price, potential buyers need to carefully consider if the value aligns with their budget and investment goals. This high cost could also impact future resale value. • Small Living Space: With only 840 square feet, this 2-bedroom, 2-bathroom home is relatively small. This could be a drawback for buyers needing more space for living, working, or entertaining. The limited square footage might also restrict furniture choices and storage options. • Low School Ratings: The local schools have relatively low ratings (null/10, 3/10, and 4/10), which may be a concern for families with children. This could impact the property's appeal to a significant segment of the market and potentially affect resale value. • Reliance on Radiant Heating: While radiant heating is energy-efficient, it can be slower to heat up a space compared to forced air systems. This might be a consideration for buyers accustomed to faster heating methods. It is also important to ensure the radiant heating system is well-maintained to prevent costly repairs.

The Ugly

• Undefined Median Income: The lack of median income data makes it difficult to assess the affordability of the property for local residents. This also hinders the ability to compare the property's price to the average income level in Leadville. • Low School Ratings: The low ratings of the local schools (null/10, 3/10, and 4/10) are a significant concern, potentially deterring families with children and impacting the property's long-term resale value. Addressing this issue would require improvements to the local school system, which is beyond the control of individual homeowners. • High Altitude: Leadville's high altitude (10,152 ft) can pose significant health challenges, especially for those not acclimated. Altitude sickness can be a serious issue, and pre-existing health conditions can be exacerbated. This factor limits the pool of potential buyers and requires careful consideration. • Previous Rental Listing with Price Changes: The property was previously listed for rent at $3,400, with subsequent price decreases. This could indicate challenges in finding a suitable tenant or overpricing. Potential buyers should investigate the reasons for the rental listing and price adjustments.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers Seeking Modern, Energy-Efficient Mountain Living: The property's 2019 construction, coupled with energy-efficient design, appeals to those prioritizing modern amenities and reduced utility costs in a mountain setting. • Individuals Desiring Expansion Potential: With nearly three city lots, the property offers significant space for adding a detached garage and/or an Accessory Dwelling Unit (ADU), catering to buyers planning for future growth or rental income opportunities. This is especially attractive given Leadville's limited housing inventory. • Buyers Prioritizing Views and Outdoor Space: The property's location on the east side of Leadville provides sweeping panoramic views of the Rockies and downtown, coupled with a large, fenced yard ideal for outdoor activities and relaxation. This appeals to those seeking a strong connection with the natural environment. • Buyers Comfortable with High-Altitude Living: Individuals who have already acclimated to Leadville's altitude (10,152 ft) or are aware of the challenges and benefits, and are prepared for the lifestyle adjustments required for living at such elevation.

Not For

• Buyers Requiring Significant Square Footage: At 840 square feet, the home may be too small for buyers needing more living space, especially larger families or those who prefer a more spacious layout. • Buyers Seeking Top-Rated Schools: The local schools have relatively low ratings (null/10, 3/10, and 4/10), which may deter buyers prioritizing high-quality public education. • Buyers Unprepared for High-Altitude Challenges: Leadville's altitude (10,152 ft) can pose health challenges and requires lifestyle adjustments. This property is not suitable for those unwilling or unable to adapt to these conditions. • Buyers on a Strict Budget: The price per square foot ($618.93) is high compared to some other areas, and the estimated insurance costs are also significant. This property may not be affordable for buyers with limited financial resources.
Demographics
Area Median Income

$0

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Risk Assessment

Risk Analysis

• High Price per Square Foot: The price per square foot ($618.93) is significantly higher than the national average, indicating a premium for location and newer construction. This could limit appreciation potential and make it harder to recoup the investment if selling in the short term. • Low School Ratings: The low ratings of the local schools (null/10, 3/10, and 4/10) could negatively impact property value and make it harder to attract families with children. Consider the potential impact on resale value if school quality does not improve. • Altitude Sickness: Leadville's high altitude (10,152 ft) can cause altitude sickness, especially for those not acclimated. This could limit the enjoyment of the property and make it difficult for some visitors to stay comfortably. • Limited Job Market: Leadville's job market is relatively small and focused on tourism and mining. Ensure employment stability or remote work options before purchasing, as finding new employment locally may be challenging.
Insurance
Annual Cost

$1,872

$156 per month

Financials

Monthly Costs
Market Rent (2 bed)

$0

Price History

Property Taxes

$2,530
2024 Tax Assessment
Infinity%from previous year
Assessed Value$33,559
Tax Rate7.54%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$338,800

-34.8% below list price

Median Price

$327,500

Based on 5 recent sales

Price per Sq.Ft

$374

Comparable Properties

921 Mt Massive Drive #11, Leadville, CO 80461
Price: $327,500
Sq.Ft: 896
Beds/Baths: 2/2
$/Sq.Ft:
$36640.9%
Sale Date: 9/23/2024
921 Mt Massive Drive #7, Leadville, CO 80461
Price: $404,500
Sq.Ft: 912
Beds/Baths: 2/2
$/Sq.Ft:
$44428.3%
Sale Date: 8/20/2024
421 E 2nd Street, Leadville, CO 80461
Price: $155,000
Sq.Ft: 828
Beds/Baths: 2/1
$/Sq.Ft:
$18769.8%
Sale Date: 10/3/2024
921 Mt Massive Drive #26, Leadville, CO 80461
Price: $320,500
Sq.Ft: 896
Beds/Baths: 2/1
$/Sq.Ft:
$35842.2%
Sale Date: 8/20/2024
317 Mount Sherman Drive, Leadville, CO 80461
Price: $486,500
Sq.Ft: 945
Beds/Baths: 3/1
$/Sq.Ft:
$51516.8%
Sale Date: 8/18/2024

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