6705 S Santa Fe Dr Lot 43

Littleton, CO 80120

$179,000B-

3 bd · 2.0 ba · 1,404 sqft · Built 2011 · Manufactured · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,425/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$121
• HOA: −$0
• Vac / Maint / Mgmt: −$509
• Net cashflow: $855/mo
• Annual: $10,265/yr
• Cap rate: 12.03%
• Cash-on-cash: 20.48%
• DSCR: 1.91
• 1% rule: 1.35%
• Cash to close: $50,120

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $179k.
• At list price, monthly cash flow is $855 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• It's been on market 15 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $176k (1.5% below list) — sets the bar for market timing.
• 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.
• Location reads 69/100 on livability (#95 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A-; Watch: cost of living F, health & safety F.
• Littleton School District No. 6 In The County Of Arapahoe (suburban): math 50% / reading 69% proficiency, ranked #5 of 86 in CO (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Centennial Academy of Fine Arts Education (math 5% / reading 52%, grade F, #534 of 966 statewide, top 56%, 370 students, 32% FRL); Goddard Middle School (math 37% / reading 52%, grade D, #56 of 270 statewide, top 23%, 552 students, 30% FRL); Heritage High School (math 48% / reading 78%, grade B-, #40 of 381 statewide, top 10%, 1,754 students, 10% FRL).
• Zoned-school proficiency averages 45% at this address vs 60% district-wide (-14 pts) — the specific schools serving this property underperform the Littleton School District No. 6 In The County Of Arapahoe average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.9%/yr); 156 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,927 units permitted in Arapahoe County in 2024 (1,525 in 5+ unit buildings).
• Arapahoe County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 12.0% vs local median 2.2% in Littleton — 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.
• This rent runs 31% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.