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512 N 5th Street, Montrose, CO, 81401

1beds
1baths
948sqft
$315,000
$332price/sqft
$1,953/moest. monthly cost
$78,120/yrincome needed

About This Home

Welcome to simple living in the heart of Montrose, Colorado — where life moves just a little slower and community still matters. This charming one-bedroom, one-bath home is perfectly positioned just down the street from a local school and only minutes from downtown Montrose’s coffee shops, local restaurants, and small businesses. Whether it’s a morning stroll, an evening bike ride, or a quick trip to grab dinner with friends, you’ll love the convenience of this central location. Set on a spacious lot, the home is tucked back from the road, creating a sense of privacy and space that’s hard to find this close to town. There’s room to garden, gather with friends under the Colorado sky, or simply enjoy a quiet evening in your own backyard retreat. Inside, the flexible lower-level space offers opportunity — a home office, workout area, creative studio, or cozy second living space. It’s a layout that adapts to your lifestyle and grows with your needs. Whether you’re looking for your first home, a downsizing option with room to breathe, or an investment in one of Western Colorado’s most welcoming communities, this property captures the heart of Montrose living — comfortable, convenient, and full of possibility.

Getting Around

77
WalkingVery Walkable
0
TransitVery Limited Transit
59
BikeBikeable

Schools

5/10
6/10
Centennial Middle SchoolGrades 6-80.9 mi
6/10
Montrose High SchoolGrades 9-120.9 mi

Construction

Condition

  • Year built: 1927

Materials

  • Roof: Composition
  • Construction materials: Vinyl Siding

Type & Style

  • Home type: SingleFamily
  • Architectural style: Bungalow
  • Property subType: Stick Built

Interior

Appliances

  • Appliances included: Dryer,Range,Refrigerator,Washer

Basement

  • Has basement: Yes
  • Basement: Finished

Bedrooms & Bathrooms

  • Bedrooms: 1
  • Bathrooms: 1
  • Full bathrooms: 1

Cooling

  • Cooling features: Ceiling Fan(s)

Dining Room

  • Features: Kitchen/Dining

Features

  • Ceiling Fan(s)
  • Window features: Vinyl
  • Flooring: Carpet-Partial,Hardwood
  • Fireplace features: Other
  • Fireplace: Yes
  • Finished area below ground: 256
  • Finished area above ground: 948

Interior Area

  • Total structure area: 948
  • Total interior livable area: 948 sqft

Property

Details

  • Parcel number: 376728123004
  • Zoning description: Residential Single Family

Features

  • Patio & porch: Deck
  • Exterior features: Landscaping,Lawn Sprinklers

Lot

  • Lot size: 609.84 sqft

Parking

  • Total spaces: 1
  • Parking features: Detached Garage
  • Has garage: Yes
  • Attached garage spaces: 1
  • Covered spaces: 1

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Lightning
    LightningVery High
  • Inland Flooding
    Inland FloodingRelatively High
  • Earthquake
    EarthquakeModerate
  • Winter Weather
    Winter WeatherModerate

How This Home’s Risks Compare

Lightning
Inland Flooding
Earthquake
Winter Weather

FEMA Declared Disasters Across Colorado Counties

Fire
Flood
Severe Storm
Tornado

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $1,592$19,104
Home Insurance *$81$972
Property Taxes $94$1,128
Electricity $186$2,232
Total$1,953$23,436
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$66,960/yr
40% on housing$58,590/yr
45% on housing$52,080/yr

Colorado FAIR Plan Programs

Colorado FAIR Plan

Covered
WildfireWildfire
Add-on available
HailHail
WindWind
Visit Website →

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 13.7%
13.7%
0%30.0%
Electricity Growth Rate10-year average: 2.2%
2.2%
0%15.0%
Property Taxes Growth Rate2-year average: 5.0%
5.0%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$332This listing

vs Other Active Listings

Avg $/sqft

ZIP 81401$208
Montrose County$398

vs Homes Sold Last Month

Median $/sqft

ZIP 81401$265
Montrose County$258

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-02-20Listed for sale$315,000
2026-02-01Listing removed$333,000
2025-10-23Price change$325,000
2025-09-15Listed for sale$333,000
2017-07-21Sold$138,000
2015-03-24Listing removed$97,700
2015-01-24Listed for sale$97,700
2006-02-24Sold$125,000

For Sale by Agent

AgentDana Gleason
BrokerageColdwell Banker Distinctive Properties

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