Nina 1 Plan

Parker, CO 80134

$609,950C

4 bd · 2.5 ba · 2,419 sqft · Built — · MultiFamily · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,608/mo
• Mortgage (P&I): −$3,199
• Tax + insurance: −$1,017
• HOA: −$0
• Vac / Maint / Mgmt: −$1,388
• Net cashflow: $1,005/mo
• Annual: $12,061/yr
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• 1% rule: 1.08%
• Cash to close: $170,786

Investor read

• This is a 4-bed/2.5-bath multifamily listed at $610k. Condition is rated excellent.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $610k).
• It's been on market 87 days — a 6% lower offer ($573k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $573k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#7 in CO, #1,304 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Douglas County School District No. RE-1 (suburban): math 45% / reading 62% proficiency, ranked #7 of 86 in CO (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-0.9%/yr); 766 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 3,131 units permitted in Douglas County in 2024 (950 in 5+ unit buildings).
• Douglas County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 8.3% vs local median 3.0% in Parker — 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.
• At $6,608/mo this rent would consume 54% of the median local household income ($147k/yr) (locally 1267% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.