1145 S 5th St Montrose, CO 81401
Estimated payment $2,553/month
Highlights
- Popular Property
- Corner Lot
- Bungalow
- Main Floor Primary Bedroom
- Eat-In Kitchen
- Tile Flooring
About This Home
?? Looking for a home in Montrose, Colorado that offers both family comfort and income potential? This freshly remodeled property is truly a home run. Live downstairs in your spacious 1.5-bedroom suite, while renting out the upstairs unit that comes with its own private entrance. Simply lock off the double doors and collect $1,400–$1,900/month rental income (Zoned R4) without sacrificing your privacy. Need a place for extended family? The fully furnished upstairs suite doubles perfectly as a downsized home for in-laws or guests. When your family grows, remove the lock-off doors and instantly enjoy a full 3-bedroom, 2-bathroom home with 2 kitchens and 2 living rooms. This home adapts as your life changes—multi-generational living and investment income in one property. Built with solid exterior brick walls, this home offers unmatched soundproofing, strength, and long-term durability—a rare find in today’s market. Why spend $50,000+ on fencing, landscaping, appliances, and upgrades with new construction, only to get stuck with strict HOA rules? This property already has it all—no HOA, no restrictions on ADUs or Airbnb-style rentals, and real freedom for homeowners. ?? Seller Incentive: The seller is purchasing a 2-point buy-down on your mortgage interest rate for the entire life of the loan—not just 1 or 2 years. That means permanent savings on every payment for as long as you own the home. ? Key Features: *Flexible floor plan with lock-off unit for income or multi-gen living *Earn $1,400–$1,900/month rental income (Zoned R4) *3 bedrooms, 2 bathrooms, 2 kitchens, 2 living areas *Exterior brick construction = strength, quiet, and value *Freshly remodeled with modern finishes *No HOA dues, no restrictions on use *Seller-paid 2-point permanent rate buy-down = lower monthly payment for life *Convenient Montrose location, close to schools, parks, and shopping Why rent when you can own a home that pays you back? With today’s economy, this property gives you options: grow your family, support loved ones, create passive income, and enjoy lower payments for decades thanks to the seller’s buy-down. ?? Don’t miss your chance to own one of the most versatile homes in Montrose real estate. Schedule your showing today with Don Martin, Montrose Realtor. .
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $1,220
Year Built
- Built in 1948 | Remodeled in 2025
Lot Details
- 3,485 Sq Ft Lot
- Partially Fenced Property
- Corner Lot
Home Design
- Bungalow
- Permanent Foundation
- Metal Roof
- Stick Built Home
- Stucco
Interior Spaces
- 1,845 Sq Ft Home
- 2-Story Property
- Partially Furnished
- Window Treatments
- Crawl Space
Kitchen
- Eat-In Kitchen
- Oven or Range
Flooring
- Carpet
- Laminate
- Tile
Bedrooms and Bathrooms
- 2 Bedrooms
- Primary Bedroom on Main
Laundry
- Dryer
- Washer
Additional Homes
- Accessory Dwelling Unit (ADU)
Schools
- Johnson K-5 Elementary School
- Centennial 6-8 Middle School
- Montrose 9-12 High School
Utilities
- Forced Air Heating and Cooling System
- Heat Pump System
- Heating System Uses Natural Gas
- Gas Water Heater
- Internet Available
- Cable TV Available
Community Details
- Loutsenhizer Addn Subdivision
Listing and Financial Details
- Assessor Parcel Number 376727404009
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,220 | $17,130 | $3,030 | $14,100 |
| 2023 | $1,220 | $21,590 | $3,820 | $17,770 |
| 2022 | $970 | $14,100 | $2,780 | $11,320 |
| 2021 | $1,000 | $14,500 | $2,860 | $11,640 |
| 2020 | $800 | $11,930 | $2,470 | $9,460 |
| 2019 | $806 | $11,930 | $2,470 | $9,460 |
| 2018 | $687 | $9,930 | $1,990 | $7,940 |
| 2017 | $682 | $9,930 | $1,990 | $7,940 |
| 2016 | $717 | $10,620 | $2,010 | $8,610 |
| 2015 | $704 | $10,620 | $2,010 | $8,610 |
| 2014 | $570 | $9,190 | $2,010 | $7,180 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/12/2025 09/12/25 | For Sale | $460,000 | +29.9% | $249 / Sq Ft |
| 06/12/2025 06/12/25 | Sold | $354,000 | 0.0% | $192 / Sq Ft |
| 04/21/2025 04/21/25 | Pending | -- | -- | -- |
| 03/29/2025 03/29/25 | Price Changed | $354,000 | -2.7% | $192 / Sq Ft |
| 02/26/2025 02/26/25 | Price Changed | $364,000 | -2.7% | $197 / Sq Ft |
| 02/04/2025 02/04/25 | Price Changed | $374,000 | -2.6% | $203 / Sq Ft |
| 01/10/2025 01/10/25 | For Sale | $384,000 | -- | $208 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $354,000 | Colorado Title & Closing Servi | |
| Warranty Deed | $145,000 | Land Title Guarantee Co | |
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | $45,000 | Land Title Guarantee Co | |
| Deed | -- | -- | |
| Warranty Deed | $76,500 | -- | |
| Deed | $62,000 | -- | |
| Deed | $58,800 | -- | |
| Deed | $44,900 | -- | |
| Deed | $29,000 | -- | |
| Deed | $23,000 | -- | |
| Warranty Deed | $23,000 | -- | |
| Deed | $15,300 | -- | |
| Deed | -- | -- | |
| Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $283,200 | New Conventional | |
| Previous Owner | $46,000 | Credit Line Revolving | |
| Previous Owner | $90,000 | New Conventional | |
| Previous Owner | $116,000 | Commercial | |
| Previous Owner | $40,500 | Commercial |
Source: Colorado Real Estate Network (CREN)
MLS Number: 828429
APN: R0003062
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