1082 Pinyon St

Meeker, CO 81641

$116,000C

3 bd · 2.0 ba · 1,512 sqft · Built 2001 · Manufactured · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,392/mo
• Mortgage (P&I): −$608
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$292
• Net cashflow: $378/mo
• Annual: $4,537/yr
• Cap rate: 10.20%
• Cash-on-cash: 13.97%
• DSCR: 1.62
• 1% rule: 1.20%
• Cash to close: $32,480

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $116k.
• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $116k).
• It's been on market 49 days — a 3% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $802 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#211 in CO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A-, housing B+; Watch: employment D+, amenities F, commute F.
• Meeker School District Re1 (rural): math 49% / reading 53% proficiency, ranked #13 of 86 in CO (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Meeker Elementary School (math 47% / reading 52%, grade D, #207 of 966 statewide, top 24%, 324 students, 39% FRL); Meeker High School (math 44% / reading 64%, grade C-, #78 of 381 statewide, top 22%, 220 students, 28% FRL).
• Market conditions: 45 active listings in the ZIP; 14 units permitted in Rio Blanco County in 2024 (0 in 5+ unit buildings).
• Rio Blanco County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $30k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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 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.