354 Colorado St

Craig, CO 81625

$105,000C+

2 bd · 1.0 ba · 1,137 sqft · Built 1972 · Manufactured · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,291/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $294/mo
• Annual: $3,530/yr
• Cap rate: 9.66%
• Cash-on-cash: 12.01%
• DSCR: 1.53
• 1% rule: 1.23%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $105k.
• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#160 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A; Watch: employment C-, schools D, crime D.
• Moffat County School District Re: No. 1 (town): math 22% / reading 35% proficiency, ranked #53 of 86 in CO (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 188 active listings in the ZIP; 18 units permitted in Moffat County in 2024 (0 in 5+ unit buildings).
• Moffat County population projected at -41% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $59k; list at $105k implies a 78% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.7% vs local median 3.2% in Craig — 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

• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 D 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.