6820 County Road 104 · Salida, CO 81201

$166,000

3 bd · 2.0 ba · 1,120 sqft · Other · 548 Days on market

Built 1966

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This huge 2001 mobile is in top shape. Clean, nice, comfortable and on a great rental space in Paradise Acres. Rent is $235/month which includes water & sewer. On corner lot #2 with great fenced yard and 14x14 storage building. Possible that current loan is assumable.

Key facts

• New heater
• Wood-burning stove
• New refrigerator

Tags

• MOUNTAIN VIEWS
• NEW HEATER
• NEW REFRIGERATOR
• NEW LVP FLOORING
• WOOD-BURNING STOVE
• SWAMP COOLER

Property features AI

Finance

• HOA & community: Land lease in effect (monthly land lease $465; lease expires December 16, 2026)

Exterior

• Parking: Two off-street parking spaces (parking total 2)
• Utilities: Public sewer
• Home design: Manufactured in-park (mobile home); Individual ownership; Single-story (main living all on one level)
• Construction: Metal siding; Metal roof; Wood skirt
• Exterior features: Front porch; Full yard fencing; Property borders public land; Located on a cul-de-sac

Interior

• Kitchen: Oven
• Bedrooms: Three bedrooms, all on the main level
• Bathrooms: One full bathroom on the main level; One half bathroom on the main level
• Heating & cooling: Forced air heating; Evaporative cooling
• Interior features: Oven; Wood-burning stove / fireplace
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $166k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $166k).
• Recommended offer: $146k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 1.9% in Salida — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#5 in CO, #1,263 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, health & safety A+, crime A; Watch: cost of living F.
• Salida School District No. R-32 (town): math 44% / reading 60% proficiency, ranked #12 of 86 in CO (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Longfellow Elementary School (math 62% / reading 52%, grade C+, #115 of 966 statewide, top 14%, 455 students, 36% FRL); Salida Middle School (math 32% / reading 57%, grade D, #56 of 270 statewide, top 23%, 315 students, 34% FRL); Salida High School (math 42% / reading 67%, grade C-, #78 of 381 statewide, top 22%, 394 students, 24% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: 293 active listings in the ZIP; solid renter incomes; 289 units permitted in Chaffee County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Chaffee County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 548 days — a 12% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $28k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $166k implies a 374% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $146,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 548 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.66%
• DSCR: 1.79
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.36×
• Total profit: $16,714
• Equity at exit: $24,751

10-year hold

• IRR: 18.3%
• Equity multiple: 2.52×
• Total profit: $70,872
• Equity at exit: $14,353

Cash invested: $46,480 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 38 Tenant-Leaning
• State Colorado: 38 Tenant-Leaning · D+4
• County: — inherits STATE
• City: — inherits STATE

2023 reforms: 10-day cure, mandated notice, source-of-income protected. Courts backlogged in Denver.

Methodology + full state rankings →

ZIP-level market 81201

• Active inventory: 293
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,363 medium
• Mortgage (P&I): −$871
• Tax from tax record: −$243 /mo · $2,915/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $684

Break-even live

Break-even rent $1,497

Max offer price $166,000

Occupancy floor 66%

Sensitivity live

Price	-10% $778	-5% $731	+0% $684	+5% $637	+10% $590
Rent	-10% $497	-5% $591	+0% $684	+5% $777	+10% $871
Rate	-1.0pp $767	-0.5pp $726	base $684	+0.5pp $641	+1.0pp $597

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $41,500
• Closing costs: $4,980
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $166,000 Active 548 DOM
2. 2026-06-19
   days on market $166,000 Active 546 DOM
3. 2026-06-18
   days on market $166,000 Active 545 DOM
4. 2026-06-17
   days on market $166,000 Active 544 DOM
5. 2026-06-16
   days on market $166,000 Active 543 DOM
6. 2026-06-15
   days on market $166,000 Active 542 DOM
7. 2026-06-14
   days on market $166,000 Active 540 DOM
8. 2026-06-12
   days on market $166,000 Active 539 DOM
9. 2026-06-09
   days on market $166,000 Active 536 DOM
10. 2026-06-08
    days on market $166,000 Active 535 DOM
11. 2026-06-07
    days on market $166,000 Active 534 DOM
12. 2026-06-03
    days on market $166,000 Active 530 DOM
13. 2026-06-02
    days on market $166,000 Active 529 DOM
14. 2026-06-01
    days on market $166,000 Active 528 DOM
15. 2026-05-31
    days on market $166,000 Active 527 DOM
16. 2026-05-30
    days on market $166,000 Active 526 DOM
17. 2026-01-02
    status Active
18. 2025-12-31
    historical
19. 2025-11-09
    price $166,000
20. 2025-08-05
    price $189,000
21. 2024-12-18
    listed $194,000 Active
22. 2005-06-23
    soldstatus $35,000 276-char remark

    Show marketing remark (276 chars)

    This huge 2001 mobile is in top shape. Clean, nice, comfortable and on a great rental space in Paradise Acres. Rent is $235/month which includes water & sewer. On corner lot #2 with great fenced yard and 14x14 storage building. Possible that current loan is assumable.

23. 2005-05-17
    historical 276-char remark

    Show marketing remark (276 chars)

    This huge 2001 mobile is in top shape. Clean, nice, comfortable and on a great rental space in Paradise Acres. Rent is $235/month which includes water & sewer. On corner lot #2 with great fenced yard and 14x14 storage building. Possible that current loan is assumable.

24. 2005-04-20
    listed $36,000 276-char remark

    Show marketing remark (276 chars)

    This huge 2001 mobile is in top shape. Clean, nice, comfortable and on a great rental space in Paradise Acres. Rent is $235/month which includes water & sewer. On corner lot #2 with great fenced yard and 14x14 storage building. Possible that current loan is assumable.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CO · Resets to sale price

• Current annual tax: $2,915 · $243/mo
• Projected year-2 tax: $2,915 · $243/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 10 d/yr ≥85°F today · 28 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,351
• − Mortgage interest: −$9,299
• − Property taxes: −$2,915
• − Insurance: −$830
• − Repairs & maintenance: −$2,268
• − Management: −$2,268
• − Depreciation: −$4,829
• Taxable income: $5,943
• Est. tax owed @ 24.0%: −$1,426
• After-tax cash flow: $6,780/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Salida School District No. R-32
• NCES district ID: 0806330
• Math proficiency: 44% ▼ -5.00%
• Reading proficiency: 60% ▲ 1.00%
• Median HH income: $45,008
• Composite: 43.91/100
• National rank: #2912
• State rank: #12 of 86 in CO

Livability — Salida

• Score: 82/100
• State rank: #5
• US rank: #1263

Category grades

Amenities A+ Commute A Cost of living F Crime A Employment C Housing C+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Chaffee County · 17,596 people
• City population: 9,294
• Metro: nan
• Population (ZIP): 9,294
• Household income: $80,248
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 324.0

Population outlook (Chaffee County) Hauer SSP2

• Today (2025): 20,413 people
• By 2030: 21,227 · +4.0%
• By 2040: 22,605 · +10.7%
• By 2050: 23,837 · +16.8%
• By 2075: 26,822 · +31.4%
• By 2100: 26,664 · +30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 5% Romanian 4% Iranian 3%
• Foreign-born: 2% · South Korea, China
• Languages at home: 95% English-only · Spanish 3% Korean 1% French/Haitian/Cajun 1%

Political lean MEDSL · Chaffee

• 2024 margin: D (+13.6) · D 55.4% · R 41.9% · Other 2.7%
• 2008→2024 swing: +13.7pp toward D · 2008: -0.1pp · 2024: 13.6pp
• All cycles: 2024: D+13.6 2020: D+6.8 2016: R+4.6 2012: D+0.2 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -375.88%
• Current HPI: 273.9673
• Rent YoY: —
• Metro: nan
• State GDP YoY: ▲ 1.95%
• F500 in state: 14

Industry mix (Fortune 500 HQ in CO)

Industry	F500 HQs	Revenue
▸Technology Distribution	1	$31B
▸Food / Agriculture	1	$18B
▸Packaging	1	$14B
▸Healthcare	1	$13B
▸Energy	1	$10B
▸Technology	1	$4B

Price history

+361.1% since first listed

8 events — show timeline

• 2026-01-02 Relisted — REColorado as Distributed by MLS Grid
• 2025-12-31 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-11-09 Price Changed $166,000 REColorado as Distributed by MLS Grid
• 2025-08-05 Price Changed $189,000 REColorado as Distributed by MLS Grid
• 2024-12-18 Listed $194,000 REColorado as Distributed by MLS Grid
• 2005-06-23 Sold (MLS) $35,000 REColorado as Distributed by MLS Grid
• 2005-05-17 Listing Removed — REColorado as Distributed by MLS Grid
• 2005-04-20 Listed $36,000 REColorado as Distributed by MLS Grid

Property tax history

+9.2%/yr

Latest (2025): $2,915 · +9.6% YoY. Source: county tax records.