2227 Osage Trl

Red Feather Lakes, CO 80545

$352,000D

1 bd · 1.0 ba · 906 sqft · Built 1999 · Other · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,643/mo
• Mortgage (P&I): −$1,846
• Tax + insurance: −$326
• HOA: −$110
• Vac / Maint / Mgmt: −$555
• Net cashflow: $-194/mo
• Annual: $-2,325/yr
• Cap rate: 5.63%
• Cash-on-cash: -2.36%
• DSCR: 0.90
• 1% rule: 0.75%
• Cash to close: $98,560

Investor read

• This is a 1-bed/1.0-bath other listed at $352k.
• At list price, monthly cash flow is $-194 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $318k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (24.9% below list).
• It's been on market 22 days — a 2% lower offer ($347k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $264k (24.9% below list) — sets the bar for 1% rule.
• In year one you build about $474 of equity ($2k loan paydown + $-2k appreciation (-0.6% local appreciation)).
• Location reads 55/100 on livability (#344 in CO) — a working-class tenant base; expect higher turnover. Strengths: employment B+, housing B+; Watch: cost of living C-, crime D-, amenities F.
• Poudre School District R-1 (urban): math 45% / reading 60% proficiency, ranked #10 of 86 in CO (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Poudre High School (math 36% / reading 59%, grade D, #131 of 381 statewide, top 34%, 1,663 students, 38% FRL).
• Market conditions: 154 active listings in the ZIP; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 30y ago; this cycle's ask is 34% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $264k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.6% vs local median 4.1% in Red Feather Lakes — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.