Real Estate Investing in Penrose, Colorado (81240)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 81240 (Penrose, CO)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 14.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 29.1 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Penrose, CO (81240)?
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Market Analysis: 81240 Penrose
ZIP 81240 inside Fremont County looks affordable on the surface — median value of $389K — but the discount exists for reasons that a careful buyer should understand before committing.
The 81240 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
In practical terms, 81240 offers a low basis, the region around Penrose has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A impressive renter share of 15% in 81240 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Penrose:
Property Strategy for 81240
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $305,666 | $1,240 | 2.9% | +5.9% | $152,833 |
| 3BR | $377,161 | $1,600 | 3.1% | +6.4% | $125,720 |
| 4BR | $463,000 | $1,700 | 2.6% | +5.8% | $115,750 |
Market Trends
Home Value History (with trend line)
📊 How Does 81240 Compare?
| Metric | 81240 | Penrose | Colorado |
|---|---|---|---|
| Home Value | $389,243 | $389,243 | $535,778 |
| 5-Year CAGR | 3.9% | 3.9% | 4.9% |
| Avg Rent | $1,116 | $1,116 | - |
| Cap Rate | 2.2% | 2.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 81240 (Penrose, CO). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $389,243 |
| Monthly Rent | $1,116 |
| Price-to-Rent | 29.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 6.2% |
📈 Home Appreciation
| 1-Year | +2.4% ▲ |
| 3-Year CAGR | +2.0% ▲ |
| 5-Year CAGR | +3.9% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 81240
Population: 4,533
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 81240
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
How tight is the rental market in Penrose, CO?
Vacancy risk in Penrose, CO is elevated. That supports consistent cash flow for typical rental holds.
What real estate strategy is ideal for Penrose, CO?
For Penrose, CO, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What price range are homes in Penrose, CO?
Median home price in Penrose, CO is near $389K, with a 5-year CAGR of 0.0%. Prices have been reliable and supportive of buy-and-hold strategies.
How landlord-friendly is Penrose, CO?
The landlord environment in Penrose, CO is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
How strong is Penrose, CO for real estate investors?
Penrose, CO rates 3.0/5 for investability. With median values at $389K and rents near $1,116/mo, the market offers reasonable fundamentals for rental investors.
You know 81240 now. You don’t know where it ranks.
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How 81240 ranks in Ca-¦on City, CO
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