Montrose County CO Homes for Sale

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  /26

  $850,000

  • 3 Beds
  • 3 Baths
  • 2,194 Sq Ft

  62951 Lasalle Rd, Montrose, CO 81401

  Rare 10.43-acre property with approximately 1/4 mile of private Uncompahgre River frontage offering excellent fishing. Includes priority water rights from the Sunrise Creek Ditch. Zoned Agricultural with a transferable Commercial Special Use Permit that runs with the land. Established RV/Tiny Home village planned in two phases. Phase 1 is complete with 15 sites: 6 full hook-ups (100-amp power,

  Tanya Morlang LIV Sotheby's International Realty - Telluride

  62951 Lasalle Rd, Montrose, CO 81401
• 

  

  

  /30

  $390,000

  • 3 Beds
  • 1 Bath
  • 1,478 Sq Ft

  27701 Bb Rd, Nucla, CO 81424

  This house has been updated and is located out in the country. 2 bedrooms and 3rd room for office or easily converted to a 3rd bedroom. It has the perfect setup for your horses, pets and 4-H livestock on the 2.26 acre. 2 shares of irrigation water for gardening and pasture. And it's close enough to town for convenience. Great views! Ask your lender about Rural Development financing and down

  Nora Davis Rimrocker Real Estate

  27701 Bb Rd, Nucla, CO 81424
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  /16

  $35,000

  • 3 Beds
  • 2 Baths
  • 1,064 Sq Ft

  60497 Maple Grove Rd, Montrose, CO 81403

  ***This listing is only for the manufactured home. No real estate is included, and the home must be moved. The buyer is solely responsible for all costs and logistics in moving the home.*** Decks, skirting, evaporative cooler and pellet stove are included. The listing agent is related to the seller.

  Bill Scharf Phelps Real Estate Group

  60497 Maple Grove Rd, Montrose, CO 81403
• 

  

  

  /19

  $65,000

  • 3 Beds
  • 1.5 Baths
  • 924 Sq Ft

  383 S Hillcrest Dr Unit 49, Montrose, CO 81401

  Welcome home to this charming 3-bedroom, 1.5-bath residence located in the desirable Paradise Village Mobile Home Park! With affordable lot rent that includes water, sewer, and trash, this home offers both comfort and value. Situated on a beautiful yard space, this cozy property is full of potential and ready for your personal touches. You’ll appreciate the added convenience of two storage sheds

  Kerri Noonan-Inda NextHome Virtual

  383 S Hillcrest Dr Unit 49, Montrose, CO 81401
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  /11

  $3,500,000

  • Land
  • 636 Acres
  • $5,503 per Acre

  TBD Buckhorn Rd, Montrose, CO 81403

  The Onion Creek Ranch, located just outside Montrose Colorado, is a model piece of Colorado real estate. This 636 +/- acre ranch spans the Onion Creek drainage, encompassing pinion-juniper forests, Gambel oak slopes, and quaking aspens. Views, particularly on the upper end, are nothing short of breathtaking; known as wedding point, this portion of the property has been witness to countless

  Joseph Burns Eagle Land Brokerage

  TBD Buckhorn Rd, Montrose, CO 81403
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  /12

  $129,000

  • Land
  • 0.2 Acre
  • $645,000 per Acre

  Lot 2305 Painted Wall Ln, Montrose, CO 81401

  Enjoy quality living at The Bridges. This beautiful lot takes in views from all directions. Build your dream home and be part of The Bridges Community. Social membership includes member discounts, charging privileges and member events. Walking distance to the Bridges clubhouse and Remington's Restaurant. Close to shopping, Montrose Recreation Center and miles of walking and biking pathes.

  Eric Feely NextHome Virtual

  Lot 2305 Painted Wall Ln, Montrose, CO 81401
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  /32

  $589,000

  • 3 Beds
  • 2 Baths
  • 1,852 Sq Ft

  3824 Mcmasters Place, Montrose, CO 81403

  Beautiful patio home on a quiet cul-de-sac in the highly desirable Cobble Creek Golf Community. Third bedroom can serve as an office if desired. Well-appointed kitchen and luxurious master suite with large walk-in closet. Fantastic view of the "Fish & Chips" area. Gorgeous sunsets! Patio homes at Cobble Creek are "Lock and Leave", meaning that all irrigation water, lawn maintenance and snow

  Randy Griffin Randy Griffin, Independent Broker

  3824 Mcmasters Place, Montrose, CO 81403
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  /15

  $255,000

  • Land
  • 0.94 Acre
  • $271,277 per Acre

  TBD Lot 12 E Star Ct, Montrose, CO 81401

  This is your chance to develop in one of Western Colorado's most scenic areas! This R-4 zoned parcel not only supports high-density residential use, but it also boasts stunning surroundings in all directions. Set in a peaceful neighborhood just outside the hustle and bustle of downtown, this lot offers a rare combination of density and beauty. Property Details: • R-4 zoning supports

  Jessamy Pressler NextHome Virtual

  TBD Lot 12 E Star Ct, Montrose, CO 81401
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  /29

  $375,000

  • 3 Beds
  • 2 Baths
  • 1,152 Sq Ft

  2796 Matie Ln, Montrose, CO 81401

  Don't Miss This Incredible Value – Massive $24,000 Price Drop! Prime Opportunity in Scenic Montrose, CO – Own Your Land, No Lot Rent! Imagine waking up on your own spacious 0.77-acre lot (that's over 3/4 of an acre!), surrounded by the stunning beauty of the San Juan Mountains, with endless outdoor adventures just minutes away. This charming 3-bedroom, 2-bath single-wide manufactured home (16' x

  GLENN MCCUEN Mountain View Real Estate, LLC

  2796 Matie Ln, Montrose, CO 81401
• 

  

  /3

  $165,750

  • Land
  • 0.35 Acre
  • $473,571 per Acre

  Lot 15 Teton Ct, Montrose, CO 81401

  Build Your Luxury Custom Home on this spacious home site in new Valley Ranch subdivision. This spacious 1/3 acre lot offers the perfect setting to build your custom dream home, with breathtaking 360-degree views of the San Juan and Cimarron Mountains to the south, and the Grand Mesa to the north. This is your opportunity to create a one-of-a-kind residence on a prime lot with spectacular views.

  Eric Feely NextHome Virtual

  Lot 15 Teton Ct, Montrose, CO 81401
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  /18

  $374,500

  • 3 Beds
  • 2 Baths
  • 1,432 Sq Ft

  1686 Rheims Ct, Montrose, CO 81401

  Welcome to this charming 3-bedroom, 1.75-bath home nestled on a quiet cul-de-sac. Motivated sellers are ready to make a deal—bring your offer today! Step inside to vaulted ceilings and a cozy bay window seat in the living room—perfect for relaxing with a book or enjoying the natural light. The kitchen features beautiful hickory cabinets and flows seamlessly into the dining area with durable

  Mark and Tammy Monroe Keller Williams Realty Southwest Associates, LLC - Montrose

  1686 Rheims Ct, Montrose, CO 81401
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  /11

  $250,000

  • Land
  • 0.2 Acre
  • $1,250,000 per Acre

  TBD Lot 1 E Oak Grove Rd, Montrose, CO 81401

  Lot 1 – Prime Corner Commercial Lot in Falcon Minor Subdivision (Bordering Walgreens) Zoning: B-2 – General Commercial Unlock high-traffic potential with Lot 1, a premium corner parcel located directly adjacent to the newly constructed roundabout and Walgreens. This high-visibility lot in the Falcon Minor Subdivision offers outstanding access and exposure—ideal for a drive-thru business, medical

  Jessamy Pressler NextHome Virtual

  TBD Lot 1 E Oak Grove Rd, Montrose, CO 81401
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  /14

  $360,000

  • 2 Beds
  • 2 Baths
  • 1,233 Sq Ft

  2149 Hartford Way Unit B, Montrose, CO 81401

  Dazzling and Exceptional Townhome Offering with Beautiful Finishes, Low-Stress Convenience, and Ideal Location! Sit back and soak in simplicity and ease of living in this well-built and meticulously maintained home, complete with lawn care, irrigation water, and snow removal included. One-level living with everything you need and nothing you don't, this home also delivers peace of mind with

  Diana Atha Keller Williams Colorado West Realty

  2149 Hartford Way Unit B, Montrose, CO 81401
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  /3

  $699,000 New Construction

  • 3 Beds
  • 2.5 Baths
  • 1,760 Sq Ft

  TBD LOT 2 Peach Valley Rd, Montrose, CO 81403

  To Be Built – Modern Peach Valley Retreat with San Juan Views Your dream home awaits in beautiful Peach Valley! This to-be-built new construction offers the perfect blend of modern comfort and Colorado country living. Featuring 3 bedrooms and 21⁄4 baths, this thoughtfully designed home will showcase quality craftsmanship and contemporary finishes throughout. Enjoy the peaceful privacy of your own

  Casey Wareham NextHome Virtual

  TBD LOT 2 Peach Valley Rd, Montrose, CO 81403
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  /16

  $2,514,327

  • Land
  • 3.94 Acres
  • $638,154 per Acre

  TBD Tbd Lot 2-B, Montrose, CO 81401

  Here it is, one of the last commercial development opportunities in the hub of Montrose! This listing is for Lot 2-B which is 3.94 acres. There are (8) parcels for sale, all listed separately. These prime B-2 zoned parcels are off of the future 100 ft Rio Grande Avenue and the Ogden Road extension, which will play a key factor in giving frontage to these parcels. Take in the Uncompahgre River to

  Trena Unrein Berkshire Hathaway HomeServices Colorado Properties

  TBD Tbd Lot 2-B, Montrose, CO 81401
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  /25

  $159,900

  • Land
  • 3.76 Acres
  • $42,527 per Acre

  tbd 5500 Rd, Olathe, CO 81425

  Here's one of three California Mesa lots for sale. Private and beautiful 3.76± acre lot that includes one domestic water tap paid for, but not installed, and UVWUA irrigation water. Come build your dream home and bring your horses and 4-H project, and enjoy the views, privacy, and convenience to town. Located just a short 10-minute drive from Delta.

  Brian Mason Mason Real Estate, Inc.

  tbd 5500 Rd, Olathe, CO 81425
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  /33

  $126,500

  • Land
  • 0.61 Acre
  • $206,699 per Acre

  Lot 14 Killarney Ln, Montrose, CO 81401

  Looking for the perfect spot to build your next home? This beautiful lot is in the Creekside area of Brown Ranch—one of Montrose’s most desirable communities. With a minimum main-level build size of 2,500 sq ft, there's plenty of room to create a home that fits your lifestyle. The lot already has water and sewer taps installed (buyer just pays the tap fees when it’s time to build), and all other

  Valerie Meyers Coldwell Banker Distinctive Properties

  Lot 14 Killarney Ln, Montrose, CO 81401
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  /30

  $825,000

  • 4 Beds
  • 2 Baths
  • 2,315 Sq Ft

  66360 Crestview Dr, Montrose, CO 81403

  Originally built as a personal residence by and for a luxury home builder, this one-of-a-kind home is a showcase of craftsmanship, intention, and elevated living—where no detail was overlooked and no corners were cut. From the moment you arrive, the curb appeal sets the tone with mature trees, stamped and sealed concrete, and a striking blend of stone and stucco. Step through the solid wood entry

  Debra Harmon 20 Sleeps West Real Estate

  66360 Crestview Dr, Montrose, CO 81403
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  /7

  $475,000

  • Land
  • 35.11 Acres
  • $13,529 per Acre

  TBD Bostwick Park Rd, Montrose, CO 81401

  Want to have your own slice of heaven on 35.11? This historic parcel of land is located minutes away from the world famous Black Canyon National Park. This lush irrigated land has been used for decades producing alfalfa. Imagine looking out over the fields taking in views of Mt. Sneffels and the San Juan mountain range and picture the homestead of your dreams. Abundant wildlife visits the

  Tim Currin Ouray Brokers

  TBD Bostwick Park Rd, Montrose, CO 81401
• 

  

  /35

  $1,775,000

  • 2 Beds
  • 3 Baths
  • 4,108 Sq Ft

  19754 Dave Wood Rd, Montrose, CO 81403

  Where Freedom Has a Front Door. A Rare Colorado Retreat for Those Who Live to Roam. Because you weren’t made for ordinary. You were made for wide open spaces, quiet mornings, and a life that moves at your pace—not someone else's. You crave freedom, adventure, and a place that reflects your unique rhythm. This isn’t just a home—it’s your personal sanctuary, built for how you actually want to live.

  Dennis Bailey Coldwell Banker Distinctive Properties

  19754 Dave Wood Rd, Montrose, CO 81403
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  /25

  $2,250,000

  • Land
  • 40 Acres
  • $56,250 per Acre

  16666 6725 Rd, Montrose, CO 81401

  CALLING ALL DEVELOPERS! This is prime development property that is in an "ideal" location. This 40 acres is surrounded by the prestigious Brown Ranch Development in Montrose, Colorado. Beautiful homes line this property on 3 sides. Perfect opportunity to invest and create synergy with a wonderful subdivision in this prime spot. Water and sewer are in the road to the west. There would be a great

  Michelle Klippert CENTURY 21 Elevated Real Estate

  16666 6725 Rd, Montrose, CO 81401
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  /34

  $534,000 New Construction

  • 3 Beds
  • 2.5 Baths
  • 1,827 Sq Ft

  1839 6429 Cir, Montrose, CO 81403

  Brand-new construction in Montrose’s sought-after River Stone subdivision—completed and ready for immediate move-in! This thoughtfully designed 3-bedroom, 2.5 bath ranch-style home offers 1,827 square feet of modern comfort with a highly functional open layout and a spacious 3-car garage. Natural light, clean finishes, and quality craftsmanship create a home that feels both inviting and elevated.

  Jennifer Thomas NextHome Virtual

  1839 6429 Cir, Montrose, CO 81403
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  /23

  $89,000

  • 3 Beds
  • 2 Baths
  • 1,110 Sq Ft

  62880 Lasalle Rd Unit 111, Montrose, CO 81401

  Exclusively available in charming River Meadows, this 3-bedroom split floorplan residence boasts an inviting layout, with an open kitchen seamlessly flowing into the living area. Essential appliances are thoughtfully included. The generously sized bedrooms include a private primary suite, and two full bathrooms for convenience. The home showcases central A/C and blinds. Don't miss the handy

  Doug Phillips Norris-Phillips Real Estate, LLC

  62880 Lasalle Rd Unit 111, Montrose, CO 81401
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  /7

  $2,807,672

  • Land
  • 4.64 Acres
  • $605,102 per Acre

  TBD Mayfly Dr, Montrose, CO 81401

  Shovel-ready lots for sale or build-to-suit with zoning for commercial, business, medical, hospitality, residential, industrial, and multifamily. Development along the Uncompahgre River is designated as a federal Opportunity Zone and Tax Increment Financing district. Other lot sizes available; contact the listing agent for more information—master detention on sight. Fiber internet is connected.

  Kelsay Heath COLDWELL BANKER COMMERCIAL PRIME PROPERTIES

  TBD Mayfly Dr, Montrose, CO 81401
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  /45

  $620,000

  • 4 Beds
  • 2 Baths
  • 2,128 Sq Ft

  3450 Honey Locust Dr, Montrose, CO 81401

  Welcome to your 4 bedroom (PLUS bonus room) dream home in the highly sought-after Brown Ranch subdivision — move-in ready, clean and meticulously maintained. Irresistible curb appeal will greet you from the moment you arrive. The extra large, fully fenced back yard features a covered back patio, relaxing hot tub, and cozy gazebo, perfect for year-round enjoyment and entertaining. Be welcomed

  Kerri Noonan-Inda NextHome Virtual

  3450 Honey Locust Dr, Montrose, CO 81401
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  /2

  $625,000

  • Land
  • 1 Acre
  • $625,000 per Acre

  TBD Lot 2-3 Woodgate Rd, Montrose, CO 81401

  Introducing prime commercial land for sale! This property borders Woodgate and Arland Road providing high visibility and potential for growth. The high traffic volume and visibility of this location make it an ideal spot for your business venture. As part of a major municipal initiative, the City of Montrose has recently invested approximately $6–7 million in infrastructure improvements

  Jeff Keehfuss Berkshire Hathaway HomeServices Colorado Properties

  TBD Lot 2-3 Woodgate Rd, Montrose, CO 81401
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  /21

  $2,650,000

  • Land
  • 300.35 Acres
  • $8,823 per Acre

  TBD Hull Ridge Rd, Montrose, CO 81403

  If you hear echoing from montane meadows and quaking aspens the distant sound of 20th century music, you may have just stumbled upon the spectacular High Point Ranch! This 300 +/- acre parcel encompasses the Uncompahgre Plateau’s second highest point (locally known as Flat Top) and is just one Julie Andrews away from being straight out of The Sound of Music! Protruding from the southern horizon

  Joseph Burns Eagle Land Brokerage

  TBD Hull Ridge Rd, Montrose, CO 81403
• 

  

  /27

  $456,000 New Construction

  • 3 Beds
  • 2 Baths
  • 1,456 Sq Ft

  1629 Fivemile Creek Ave, Montrose, CO 81401

  Ready to move into your dream home this spring? This stunning brand new home sits on a premium greenbelt lot with no neighbors directly behind you, offering privacy and beautiful open views. Built by one of Montrose’s premier builders, this 3 bedroom, 2 bath home blends quality craftsmanship with clean, modern design. The open concept layout features a vaulted living room with ceiling fan,

  Elise Bowles NextHome Virtual

  1629 Fivemile Creek Ave, Montrose, CO 81401
• 

  

  /22

  $365,000

  • 3 Beds
  • 1.5 Baths
  • 1,404 Sq Ft

  130 W South 1st St, Montrose, CO 81401

  This property truly checks all the boxes. Ideally located just steps from groceries, dining, shopping, and all the amenities of downtown Montrose, this property offers both convenience and opportunity. With its superior location, it provides exciting flexibility—whether you choose to explore the potential for adding an ADU in the back (buyer to verify) or simply enjoy the charm and walkability of

  Isaiah Perez Keller Williams Realty Southwest Associates, LLC - Montrose

  130 W South 1st St, Montrose, CO 81401
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  /4

  $559,000 New Construction

  • 4 Beds
  • 2 Baths
  • 1,609 Sq Ft

  3419 Pinewood St, Montrose, CO 81401

  UNDER CONSTRUCTION with an estimated completion in mid-April 2026. This beautifully crafted LaSalle model offers 1,609 square feet of thoughtfully designed living space and a spacious three-car garage, built by one of Montrose’s premier builders. Designed with a zero-step foundation, the home provides seamless entry from the front door, garage, and back patio, offering both convenience and

  Shawn Carroll NextHome Virtual

  3419 Pinewood St, Montrose, CO 81401
• 

  

  /12

  $440,000

  • 3 Beds
  • 2.5 Baths
  • 1,392 Sq Ft

  746 E Star Ct, Montrose, CO 81401

  To Be Built - UNIT 2 — New Construction Townhome (Under Construction) Unit 2 offers an opportunity to secure a new construction townhome prior to completion, with an estimated June 2026 finish. This two-story residence provides 1,392 square feet of efficient, modern living space. The 570 SF main level includes an open-concept kitchen and living area with a powder bath, while the 822 SF upper

  Jessamy Pressler NextHome Virtual

  746 E Star Ct, Montrose, CO 81401
• 

  

  /20

  $162,000

  • 3 Beds
  • 2 Baths
  • 1,142 Sq Ft

  901 6530 Rd Unit 1600, Montrose, CO 81401

  Brand New Home in the well established subdivision of Cimarron Creek on a corner lot. It features 3 bedrooms, 2 baths and an open floorplan with a walk-in shower in the main bedroom and walk-in shower. The home also comes with a One Year Warranty. The community offers access to all amenities i.e. Walk Paths, Basketball Court, Enclosed Playground, 2 Dog Parks, Community Garden and the Community

  Debra Rowe NextHome Virtual

  901 6530 Rd Unit 1600, Montrose, CO 81401
• 

  

  /14

  $275,000

  • Land
  • 5.5 Acres
  • $50,000 per Acre

  TBD 5800 Rd, Montrose, CO 81403

  5.5 acres of irrigated land with Coal Creek bordering the East side. This property is perfect for your new build and your opportunity to enjoy country living. You also have the year-round creek running down one whole side of the property! You are in close proximity to BLM access where you can enjoy riding horses, hiking or numerous other recreational activities.

  Mark Covington RE/MAX Alpine View

  TBD 5800 Rd, Montrose, CO 81403
• 

  

  /12

  $440,000

  • 3 Beds
  • 2.5 Baths
  • 1,392 Sq Ft

  742 E Star Ct, Montrose, CO 81401

  To Be Built: UNIT 4 — New Construction Townhome (Under Construction) Unit 4 is a newly built townhome currently under construction with anticipated completion in June 2026. This residence offers 1,392 square feet across two thoughtfully designed levels. The 570 SF main level includes an open-concept kitchen and living area plus a powder bathroom, while the 822 SF upper level provides a primary

  Jessamy Pressler NextHome Virtual

  742 E Star Ct, Montrose, CO 81401
• 

  

  /16

  $165,000

  • 3 Beds
  • 2 Baths
  • 924 Sq Ft

  333 Payson St, Naturita, CO 81422

  Great Price for a Great Property! Discover the comfort and convenience of this well-maintained 3-bedroom, 2-bath manufactured home, perfectly situated on a well-manicured lot. Enjoy peace of mind with a new storage building, plus spacious covered parking designed for your ATVs and additional storage needs. Step inside to find a home in good condition, complete with all appliances--move in ready

  Debbie Moore Vista Realty Inc.

  333 Payson St, Naturita, CO 81422
• 

  

  /45

  $599,000

  • 3 Beds
  • 2 Baths
  • 2,400 Sq Ft

  82653 Highway 92, Crawford, CO 81415

  Crystal Creek runs through this fabulous property with a year-round home or RECREATION RETREAT on 8.6 acres! Enjoy snowshoeing, snowmobiling, hunting, fishing and long summer nights by the outdoor fire pit. National Forest Access Nearby. Home easily SLEEPS 10+ PEOPLE. This 3 BR 2 BA solid A Frame Cabin has a spiral stair case that goes from the finished walkout basement, through the lovely main

  Liz Heidrick Needlerock Mountain Realty and Land, LLC

  82653 Highway 92, Crawford, CO 81415
• 

  

  /26

  $332,220

  • 2 Beds
  • 2 Baths
  • 1,354 Sq Ft

  1655 Rhine Ct, Montrose, CO 81401

  Enjoy easy, low-maintenance living in this bright and welcoming single-level patio home located at the end of a cul-de-sac in The Vineyards at Vista San Juan. This 2-bedroom, 2-bath townhome offers a comfortable and functional, open floor plan with vaulted ceilings, natural light, and a seamless indoor-outdoor connection. Step outside to a private, covered patio that backs to green space and

  Valerie Meyers Coldwell Banker Distinctive Properties

  1655 Rhine Ct, Montrose, CO 81401
• 

  

  /6

  $890,000 New Construction

  • 3 Beds
  • 3 Baths
  • 2,195 Sq Ft

  2529 Bridges Loop, Montrose, CO 81401

  Join the excitement of BBC Clubhouse Villa living at The Bridges. This 3- Bedroom, 4 Bathroom 1- Story Villa is within easy walking distance of the beautiful Bridges Golf and CC clubhouse and Remington's Restaurant. These beautiful Villas offer maintenance free living to allow for more time to enjoy all the Montrose area has to offer. Price is based on the D model. Final construction date is yet

  Ty Jennings Shining Mountain Realty

  2529 Bridges Loop, Montrose, CO 81401
• 

  

  /6

  $149,888

  • Land
  • 0.43 Acre
  • $351,026 per Acre

  TBD Lot 7 Hawk Pkwy, Montrose, CO 81401

  RARE COMMERCIAL LOTS IN BOOMING SOUTH TOWNSEND CORRIDOR! Two Commercial Lots Ready for Development in Highly Desirable Location. Located in the busy S Townsend Ave/S Hwy 550 corridor, with easy accessibility on Hawk Parkway. This property is part of The Center at Hawk Parkway, a well-established complex consisting of professional offices, retail and restaurants. Surrounding businesses include

  John Renfrow Renfrow Realty

  TBD Lot 7 Hawk Pkwy, Montrose, CO 81401
• 

  

  /15

  $360,000

  • Land
  • 5.99 Acres
  • $60,100 per Acre

  Lot 3 6785 Ct, Montrose, CO 81403

  This lot is 5.99 irrigated acres. There are 4 Irrigated building/agriculture lots from 2 to almost 6 acres. Just 5 minutes south of Montrose with spectacular San Juan views. The lots are currently into grass hay with gated pipe. Great location to build your dream home or barndominium with plenty of room for that 4-H project or horses. As of now there are no covenants. Come buy the 1st & we'll

  Darrel Holman RE/MAX Alpine View

  Lot 3 6785 Ct, Montrose, CO 81403

Showing Results 401 - 440, Page 11 of 14