784 Blossom Rd

Woodland Park, CO 80863

$290,000D

3 bd · 3.0 ba · 1,510 sqft · Built 1995 · Manufactured · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,385/mo
• Mortgage (P&I): −$1,521
• Tax + insurance: −$238
• HOA: −$112
• Vac / Maint / Mgmt: −$501
• Net cashflow: $13/mo
• Annual: $153/yr
• Cap rate: 6.35%
• Cash-on-cash: 0.19%
• DSCR: 1.01
• 1% rule: 0.82%
• Cash to close: $81,200

Investor read

• This is a 3-bed/3.0-bath manufactured listed at $290k.
• At list price, monthly cash flow is $13 ($153/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (17.8% below list).
• It's been on market 26 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $238k (17.8% 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 $9k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#78 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; Watch: commute F, cost of living F.
• Woodland Park School District No. Re-2 (town): math 28% / reading 47% proficiency, ranked #29 of 86 in CO (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Summit Elementary School (math 24% / reading 32%, grade F, #540 of 966 statewide, top 57%, 259 students, 36% FRL); Woodland Park Middle School (math 27% / reading 47%, grade F, #95 of 270 statewide, top 37%, 386 students, 34% FRL); Woodland Park High School (math 37% / reading 62%, grade D, #115 of 381 statewide, top 34%, 579 students, 33% FRL).
• Market conditions: Rents rising (+3.6%/yr); 251 active listings in the ZIP; solid renter incomes; 148 units permitted in Teller County in 2024 (0 in 5+ unit buildings).
• Teller County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $195k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 3.4% in Woodland Park — 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.