300 Skylark Cir

Lafayette, CO 80026

$94,500C+

3 bd · 2.0 ba · 1,128 sqft · Built 1999 · Manufactured · Active · 139 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,473/mo
• Mortgage (P&I): −$496
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$519
• Net cashflow: $1,377/mo
• Annual: $16,527/yr
• Cap rate: 23.78%
• Cash-on-cash: 62.46%
• DSCR: 3.78
• 1% rule: 2.62%
• Cash to close: $26,460

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $94k.
• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• It's been on market 139 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $83k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $653 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#1 in CO, #566 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime C-, cost of living F.
• Boulder Valley School District No. Re2 (urban): math 49% / reading 67% proficiency, ranked #6 of 86 in CO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Alicia Sanchez International School (math 5% / reading 22%, grade F, #824 of 966 statewide, top 88%, 343 students, 74% FRL); Angevine Middle School (math 29% / reading 47%, grade F, #90 of 270 statewide, top 34%, 661 students, 44% FRL); Centaurus High School (math 54% / reading 74%, grade B-, #38 of 381 statewide, top 10%, 1,525 students, 32% FRL) — zoned schools average 50% FRL vs 16% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 38% at this address vs 58% district-wide (-20 pts) — the specific schools serving this property underperform the Boulder Valley School District No. Re2 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.6%/yr); 200 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,688 units permitted in Boulder County in 2024 (1,136 in 5+ unit buildings).
• Boulder County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $16k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $26k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 23.8% vs local median 2.6% in Lafayette — 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 139 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.