500 12th St Unit G-9

Kremmling, CO 80459

$110,000D+

2 bd · 1.0 ba · 1,020 sqft · Built 2024 · SingleFamily · Pending · 147 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,104/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $112/mo
• Annual: $1,344/yr
• Cap rate: 7.51%
• Cash-on-cash: 4.36%
• DSCR: 1.19
• 1% rule: 1.00%
• Cash to close: $30,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 147 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#65 in CO) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A; Watch: amenities F, commute F.
• West Grand School District No. 1 (rural): math 21% / reading 37% proficiency, ranked #102 of 176 in CO (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Grand Elementary And Middle School (math 22% / reading 37%, grade F, #512 of 966 statewide, top 55%, 279 students, 33% FRL); West Grand High School (math 30% / reading 50%, grade F, #167 of 381 statewide, top 46%, 112 students, 44% FRL).
• Market conditions: 92 active listings in the ZIP; 294 units permitted in Grand County in 2024 (82 in 5+ unit buildings).
• Grand County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.5% vs local median 0.6% in Kremmling — 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

• It's been on market 147 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 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?
• 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?
• 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.