62880 Lasalle #174 · Montrose, CO 81401

$89,900

3 bd · 2.0 ba · 1,178 sqft · Manufactured public records · 72 Days on market

Built 1999 Est $94k · at est. ↓ 5% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.6/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your next home in River Meadows Park! This well-maintained 3-bedroom, 2-bath mobile home features a desirable split floor plan, offering privacy and comfort for everyone. Step inside to find beautiful, updated flooring that adds a modern touch throughout the home. The open living space flows nicely into the kitchen and dining area, making it perfect for everyday living or entertaining. Enjoy your morning coffee or unwind in the evening on the cozy screened-in porch, a perfect extension of your living space. Outside, you’ll love the beautifully kept yard with plenty of room to relax, garden, or entertain. Need extra storage or workspace? The 10x20 shed in the backyard provid

Key facts

• Screened-in porch
• 10x20 shed
• Split floor plan

Tags

• SPLIT FLOOR PLAN
• UPDATED FLOORING
• SCREENED-IN PORCH
• BEAUTIFULLY KEPT YARD
• 10X20 SHED

Property features AI

Finance

• Financial info: Annual tax information available
• HOA & community: Homeowners association: River Meadows Community

Exterior

• Utilities: Cable available; Electricity available; Natural gas available; High-speed internet available; Public sewer; Public water
• Home design: 1,280 above-grade finished area
• Exterior features: Residential single-family use

Interior

• Kitchen: Oven; Range; Refrigerator
• Flooring: Partial carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Evaporative cooling
• Interior features: Unfurnished; Partially carpeted and vinyl flooring
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.2% vs local median 1.9% in Montrose — 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.

Location & tenants

• Location reads 68/100 on livability (#109 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+; Watch: amenities C-, employment D+, commute F.
• Montrose County School District Re-1J (town): math 22% / reading 36% proficiency, ranked #55 of 86 in CO (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Northside Elementary School (math 17% / reading 22%, grade F, #706 of 966 statewide, top 75%, 318 students, 76% FRL); Centennial Middle School (math 21% / reading 37%, grade F, #138 of 270 statewide, top 52%, 582 students, 52% FRL); Montrose High School (math 27% / reading 56%, grade F, #163 of 381 statewide, top 43%, 1,261 students, 40% FRL).
• Market conditions: 376 active listings in the ZIP; 271 units permitted in Montrose County in 2024 (22 in 5+ unit buildings).
• This rent runs 32% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montrose County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 2.10% ✓
• Cap rate: 19.18%
• Cash-on-cash: 46.04%
• DSCR: 3.05
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $94,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
62880 Lasalle Rd #139	0.00mi	3/2.0	1,216 (+3%)	6mo	$64,000	$53	90
62880 Lasalle Rd Rd Unit 131	0.00mi	3/2.0	1,248 (+6%)	10mo	$100,000	$80	82
62880 Lasalle Rd #147	0.00mi	2/2.0 (-1)	1,152 (-2%)	13mo	$85,000	$74	80
62650 Lasalle Rd #805	0.29mi	3/2.0	1,155 (-2%)	5mo	$120,000	$104	79
62880 Lasalle Rd #100	0.00mi	3/2.0	1,216 (+3%)	20mo	$75,450	$62	78
62880 Lasalle Rd #113	0.00mi	3/2.0	1,120 (-5%)	18mo	$95,000	$85	76
62650 Lasalle Rd #331	0.29mi	3/2.0	1,140 (-3%)	10mo	$111,500	$98	73
62880 Lasalle Rd #117	0.00mi	3/2.0	1,120 (-5%)	23mo	$79,000	$71	73
62880 Lasalle Rd #71	0.00mi	3/2.0	1,280 (+9%)	17mo	$60,000	$47	71
62650 Lasalle Rd #337	0.29mi	3/2.0	1,140 (-3%)	12mo	$125,000	$110	71
62650 Lasalle Rd #807	0.29mi	3/2.0	1,140 (-3%)	13mo	$105,000	$92	71
62880 Lasalle Rd #184	0.00mi	3/2.0	1,024 (-13%)	21mo	$76,000	$74	61

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.79×
• Total profit: $20,005
• Equity at exit: $13,404

10-year hold

• IRR: 27.9%
• Equity multiple: 3.49×
• Total profit: $62,585
• Equity at exit: $7,773

Cash invested: $25,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 38 Tenant-Leaning
• State Colorado: 38 Tenant-Leaning · D+4
• County: — inherits STATE
• City: — inherits STATE

2023 reforms: 10-day cure, mandated notice, source-of-income protected. Courts backlogged in Denver.

Methodology + full state rankings →

ZIP-level market 81401

• Active inventory: 376
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,891 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$19 /mo · $228/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $539

Break-even live

Break-even rent $1,208

Max offer price $89,900

Occupancy floor 66%

Sensitivity live

Price	-10% $590	-5% $565	+0% $539	+5% $514	+10% $488
Rent	-10% $390	-5% $464	+0% $539	+5% $614	+10% $689
Rate	-1.0pp $584	-0.5pp $562	base $539	+0.5pp $516	+1.0pp $492

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $89,900 Active 72 DOM
2. 2026-06-21
   days on market $89,900 Active 71 DOM
3. 2026-06-19
   days on market $89,900 Active 69 DOM
4. 2026-06-18
   days on market $89,900 Active 68 DOM
5. 2026-06-17
   days on market $89,900 Active 67 DOM
6. 2026-06-16
   days on market $89,900 Active 66 DOM
7. 2026-06-15
   days on market $89,900 Active 65 DOM
8. 2026-06-14
   days on market $89,900 Active 63 DOM
9. 2026-06-12
   days on market $89,900 Active 62 DOM
10. 2026-06-09
    days on market $89,900 Active 59 DOM
11. 2026-06-08
    days on market $89,900 Active 58 DOM
12. 2026-06-07
    days on market $89,900 Active 57 DOM
13. 2026-06-02
    days on market $89,900 Active 52 DOM
14. 2026-06-01
    days on market $89,900 Active 51 DOM
15. 2026-05-31
    days on market $89,900 Active 50 DOM
16. 2026-05-30
    days on market $89,900 Active 49 DOM
17. 2026-05-20
    price $89,900
18. 2026-04-11
    listed $95,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CO · Resets to sale price

• Current annual tax: $228 · $19/mo
• Projected year-2 tax: $494 · $41/mo
• Expected delta: +$267/yr (+$22/mo · 116.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 61% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,688
• − Mortgage interest: −$5,036
• − Property taxes: −$228
• − Insurance: −$5,568
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − Depreciation: −$2,615
• Taxable income: $5,611
• Est. tax owed @ 24.0%: −$1,347
• After-tax cash flow: $5,123/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Montrose County School District Re-1J
• NCES district ID: 0805790
• Math proficiency: 22% ▼ -5.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $45,650
• Composite: 24.9/100
• National rank: #7577
• State rank: #55 of 86 in CO

Livability — Montrose

• Score: 68/100
• State rank: #109
• US rank: #9310

Category grades

Amenities C- Commute F Cost of living B- Crime C+ Employment D+ Housing A+ Health & safety B- User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montrose County · 24,228 people
• City population: 24,228
• Metro: Montrose, CO
• Population (ZIP): 24,228
• Household income: $71,286
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 682.0

Population outlook (Montrose County) Hauer SSP2

• Today (2025): 39,229 people
• By 2030: 37,791 · -3.7%
• By 2040: 33,829 · -13.8%
• By 2050: 29,530 · -24.7%
• By 2075: 20,559 · -47.6%
• By 2100: 12,144 · -69.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 20% Two or more races 13% Native American 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1%

Political lean MEDSL · Montrose

• 2024 margin: Solid R (+32.6) · D 32.6% · R 65.2% · Other 2.2%
• 2008→2024 swing: -2.8pp toward R · 2008: -29.8pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+36.5 2016: R+42.1 2012: R+36.4 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.94%
• Current HPI: 373.4909
• Rent YoY: —
• Metro: Montrose, CO
• State GDP YoY: ▲ 1.95%
• F500 in state: 14

Industry mix (Fortune 500 HQ in CO)

Industry	F500 HQs	Revenue
▸Technology Distribution	1	$31B
▸Food / Agriculture	1	$18B
▸Packaging	1	$14B
▸Healthcare	1	$13B
▸Energy	1	$10B
▸Technology	1	$4B

Price history

-5.4% since first listed

2 events — show timeline

• 2026-05-20 Price Changed $89,900 cren
• 2026-04-11 Listed $95,000 cren

Property tax history

+10.1%/yr

Latest (2025): $228 · +209.0% YoY. Source: county tax records.