NOT LISTED FOR SALE

474 Rainbow Rd Durango, CO 81303

Estimated Value: $460,000 - $631,000

2 Beds
2 Baths
1,600 Sq Ft
$336/Sq Ft Est. Value

Last Sold September 30, 2024

Last sale price $412,000 $258 Per Sq Ft

Est. 30% increase in value since last sale

Current estimated payment $2,858/month

28 Days on Market

Highlights

  • Home fronts a creek
  • Wooded Lot
  • Baseboard Heating
  • Durango High School Rated A-
  • Shed
  • Spring water is a source of water for the property

About This Home

As of September 2024

474 Rainbow Rd. is a unique and affordable entry into the Durango real estate market. The home is dated and will take the right buyer who is interested in a rural setting about 15 minutes south of Durango. The home is a 2 bed, 2 bath, that has some quirks like the spiral staircase and the natural spring water source, but offers a serene setting with the sounds of live water at this "end of the road" property. The water source is the Southfork of Zink Spring #8, a natural running spring that fills a cistern to the home as it flows by. The 6.4 acres and surrounding area is home to a variety of wild life that are sure to be some of your more common visitors. The home maybe functional for some buyers "as is" or this might be the perfect DYI project for the restless soul. In either case, this home is being sold "as is" "where is" and "with all faults" and has been priced accordingly.

Last Agent to Sell the Property

Philip Schoon

Keller Williams Realty Southwest Associates, LLC Listed on: 07/25/2024

Keller Williams Realty Southwest Associates, LLC

Last Buyer's Agent

Leigh Holmes

United Country Blue Sky Homes and Land

United Country Blue Sky Homes and Land

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $1,028

Year Built

  • Built in 1977

Lot Details

  • 6.4 Acre Lot
  • Home fronts a creek
  • Wooded Lot

Home Design

  • Metal Roof
  • Stick Built Home

Interior Spaces

  • 1,600 Sq Ft Home
  • 3-Story Property
  • Oven or Range

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Primary Bedroom Upstairs

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Shed

Schools

  • Sunnyside K-5 Elementary School
  • Escalante 6-8 Middle School
  • Durango 9-12 High School

Utilities

  • Radiant Ceiling
  • Baseboard Heating
  • Spring water is a source of water for the property
  • Irrigation Water Rights
  • Cistern
  • Water Heater
  • Septic Tank
  • Septic System
  • Internet Available
  • Phone Available

Community Details

  • Association fees include road maintenance
  • Rainbow Springs Subdivision

Listing and Financial Details

  • Assessor Parcel Number 590531201001

Home Details

Home Type

Single Family

Est. Annual Taxes

$1,028

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Appliance Inclusions: Range/Oven, Refrigerator, Washer, Dryer
  • Estimated Total Acres: 6.4
  • Class: RESIDENTIAL
  • Em Deposit: 7,500
  • Em Holder: title company
  • Exterior Inclusions: Shed/Storage
  • Legal Lot Block: Subdivision: RAINBOW SPRGS TR #2 Block: 0 Lot: 8 RAINBOW SPGS TROUT RANCH #2 474 RAINBOW RD DURANGO 81303
  • Lot Size Acreage: 5-9.99
  • Parcel Id Number: 590531201001
  • Price Per Sq Ft: 257.5
  • Property Description: Wooded Lot
  • Real Estate Included: Yes
  • Residence Stories: Three Story
  • Sale/Rent: For Sale
  • Sold Price Sq Ft: 257.5
  • Street Descriptionaccess: Dirt, Easement
  • Waterfront Type: Creek
  • Zoning: Residential Single Family
  • Type: Stick Built
  • Internet Provider: HiSpeed4U
  • Internet Service: Yes
  • Total Taxes Dollar: 1,027.92
  • Year Built: 1977
  • Foreign Owned Y N: No
  • Prop Description Remarks: 474 Rainbow Rd. is a unique and affordable entry into the Durango real estate market. The home is dated and will take the right buyer who is interested in a rural setting about 15 minutes south of Durango. The home is a 2 bed, 2 bath, that has some quirks like the spiral staircase and the natural spring water source, but offers a serene setting with the sounds of live water at this "end of the road" property. The water source is the Southfork of Zink Spring #8, a natural running spring that fills a cistern to the home as it flows by. The 6.4 acres and surrounding area is home to a variety of wild life that are sure to be some of your more common visitors. The home maybe functional for some buyers "as is" or this might be the perfect DYI project for the restless soul. In either case, this home is being sold "as is" "where is" and "with all faults" and has been priced accordingly.
  • Subdv Name: Rainbow Springs
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 20

Interior Features

  • Bedrooms: 2
  • Estimated Total Sq Ft: 1600
  • Full Bathrooms: 1
  • Half Bathrooms: 0
  • Bathrooms Quarter: 0
  • Bathrooms Three Quarters: 1
  • Total Bathrooms: 2
  • Master Bedroom Level: Upper Level
  • Total Office Den: 0

Exterior Features

  • Construction Type: Wood Frame
  • Exterior Structures: Shed
  • Roof: Metal

Utilities

  • Utilities: Electric, Internet, Phone - Cell Reception, Phone - Landline
  • Electric Supplier: La Plata Electric Association
  • Heating System: Electric Baseboard, Ceiling Radiant
  • Irrigation Water District: Southfork Zink Spring #8
  • Sewer Supplier: Septic
  • Water Heater: Electric Water Heater
  • Water Rights Irrigation: Yes

Condo/Co-op/Association

  • Hoa Inclusions: Road Maintenance

Schools

  • High School: Durango 9-12

Lot Info

  • Geo Subdivision: CO

Rental Info

  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2024

MLS Schools

  • Elementary School: Sunnyside K-5
  • Middle School: Escalante 6-8

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 25, 2024
Closed on
Sep 30, 2024
Sold by
T H & K D Whitson Revocable Trust
Bought by
Krassner Lee M
Seller's Agent
Philip Schoon
Keller Williams Realty Southwest Associates, LLC
Buyer's Agent
Leigh Holmes
United Country Blue Sky Homes and Land
List Price
$459,000
Sold Price
$412,000
Premium/Discount to List
-$47,000
-10.24%
Views
42
Current Estimated Value
$537,599

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$125,599
Avg. Annual Appreciation
23.51%
Original Mortgage
$265,000
Outstanding Balance
$262,287
Interest Rate
6.49%
Mortgage Type
New Conventional
Estimated Equity
$275,312

Purchase Details

Closed on
Sep 14, 2012
Sold by
Whitson Thomas H
Bought by
T H & K D Whitson Revocable Trust

Purchase Details

Closed on
Aug 27, 2012
Sold by
Griffin Kaye and Whitson Kaye L
Bought by
Whitson Thomas H
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Krassner Lee M $412,000 Land Title Guarantee
T H & K D Whitson Revocable Trust -- None Available
Whitson Thomas H -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Krassner Lee M $265,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/30/2024 09/30/24 Sold $412,000 -10.2% $258 / Sq Ft
08/22/2024 08/22/24 Pending -- -- --
07/25/2024 07/25/24 For Sale $459,000 -- $287 / Sq Ft
Source: Colorado Real Estate Network (CREN)

Tax History Compared to Growth

Source: Public Records

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
2025 $596 $25,320 $10,170 $15,150
2024 $521 $17,370 $6,580 $10,790
2023 $521 $20,250 $7,670 $12,580
2022 $617 $21,840 $8,270 $13,570
2021 $623 $20,050 $7,260 $12,790
2020 $557 $18,980 $7,130 $11,850
2019 $520 $18,980 $7,130 $11,850
2018 $481 $18,170 $6,930 $11,240
2017 $473 $18,170 $6,930 $11,240
2016 $387 $17,600 $7,240 $10,360
2015 $367 $17,600 $7,240 $10,360
2014 -- $16,530 $7,240 $9,290
2013 -- $16,530 $7,240 $9,290
Source: Public Records

Agents Affiliated with this Home

  • Philip Schoon

    Seller's Agent in 2024

    Philip Schoon

    Keller Williams Realty Southwest Associates, LLC

    (970) 769-2857

    60 Total Sales

    Philip Schoon
    Section Image
  • Leigh Holmes

    Buyer's Agent in 2024

    Leigh Holmes

    United Country Blue Sky Homes and Land

    (970) 888-0151

    49 Total Sales

    Leigh Holmes
    Section Image
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Map

Source: Colorado Real Estate Network (CREN)

MLS Number: 816350

Colorado Real Estate Network (CREN)

APN: R017050

Colorado La Plata County Durango 81303

474 Rainbow Rd, Durango, CO

Not Listed for Sale

Detached

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