189 Ten Mile Creek Cir #332

Copper Mountain, CO 80443

$7,000C-

2 bd · 3.0 ba · 1,166 sqft · Built 1982 · Condo · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,101/mo
• Mortgage (P&I): −$37
• Tax + insurance: −$12
• HOA: −$213
• Vac / Maint / Mgmt: −$651
• Net cashflow: $2,189/mo
• Annual: $26,263/yr
• Cap rate: 381.48%
• Cash-on-cash: 1339.95%
• DSCR: 60.62
• 1% rule: 44.30%
• Cash to close: $1,960

Investor read

• This is a 2-bed/3.0-bath condo listed at $7k.
• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $7k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $270 of equity ($48 loan paydown + $222 appreciation (3.2% local appreciation)).
• Location reads 65/100 on livability (#164 in CO) — a middle-class / working-renter tenant base. Strengths: crime A, employment B+, health & safety B+; Watch: cost of living C-, amenities F, commute F.
• Summit School District No. RE-1 (rural): math 27% / reading 43% proficiency, ranked #35 of 86 in CO (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 173 active listings in the ZIP; solid renter incomes; 308 units permitted in Summit County in 2024 (123 in 5+ unit buildings).
• Summit County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $8k (52%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $3k; list at $7k implies a 119% gain — meaningful room to come down on a strong offer.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 381.5% vs local median 1.4% in Copper Mountain — 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 34% of the median local income ($109k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.