1002 S Sibley Dr

Pueblo West, CO 81007

$249,000F

3 bd · 2.0 ba · 2,016 sqft · Built 2000 · Manufactured · Active · 82 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,538/mo
• Mortgage (P&I): −$1,306
• Tax + insurance: −$209
• HOA: −$20
• Vac / Maint / Mgmt: −$323
• Net cashflow: $-319/mo
• Annual: $-3,833/yr
• Cap rate: 4.75%
• Cash-on-cash: -5.50%
• DSCR: 0.76
• 1% rule: 0.62%
• Cash to close: $69,720

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $249k.
• At list price, monthly cash flow is $-319 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (22.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (38.2% below list).
• It's been on market 82 days — a 6% lower offer ($234k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $154k (38.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#189 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+; Watch: health & safety C-, crime F, amenities F.
• Pueblo County School District 70 (suburban): math 24% / reading 43% proficiency, ranked #40 of 86 in CO (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prairie Winds Elementary School (math 24% / reading 27%, grade F, #594 of 966 statewide, top 62%, 500 students, 47% FRL); Sky View Middle School (math 22% / reading 47%, grade F, #106 of 270 statewide, top 42%, 577 students, 41% FRL); Pueblo West High School (math 23% / reading 52%, grade F, #192 of 381 statewide, top 51%, 1,484 students, 40% FRL).
• Market conditions: Rents soft (-0.1%/yr); 654 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 269 units permitted in Pueblo County in 2024 (0 in 5+ unit buildings).
• Pueblo County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $16k; list at $249k implies a 1456% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.8% vs local median 3.5% in Pueblo West — 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?
• It's been on market 82 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 D-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?
• 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?