600 Raintree Blvd #68

Williamsburg, CO 81212

$82,000B-

3 bd · 2.0 ba · 924 sqft · Built 2019 · Manufactured · Active · 154 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,657/mo
• Mortgage (P&I): −$430
• Tax + insurance: −$66
• HOA: −$0
• Vac / Maint / Mgmt: −$348
• Net cashflow: $814/mo
• Annual: $9,764/yr
• Cap rate: 18.20%
• Cash-on-cash: 42.53%
• DSCR: 2.89
• 1% rule: 2.02%
• Cash to close: $22,960

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $82k.
• At list price, monthly cash flow is $814 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• It's been on market 154 days — a 12% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $567 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 54/100 on livability (#356 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Fremont Re-2 (town): math 25% / reading 39% proficiency, ranked #48 of 86 in CO (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 10 active listings in the ZIP; 139 units permitted in Fremont County in 2024 (0 in 5+ unit buildings).
• Fremont County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• This rent runs 31% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F 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?
• 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.