0039 Boomerang Rd Unit 8412 Summer Interest 7 · Aspen, CO 81611

$39,000

2 bd · 2.5 ba · 1,365 sqft · Condo · 591 Days on market

Built 2001 $29/sqft · 41% below area Est $66k · 41% under $1969/mo HOA · 25% of rent ↓ 26% since listing

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Why this score? — see what drove the C+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

1/12 deeded interest in a luxury condominium right at the base of Aspen Highlands ski area. Residence 8412 is a 2 bedroom 2 1/2 bath top floor unit with balcony in the Elk Horn Lodge. Interest 7 gets you two consecutive summer weeks, one ski week and one float week each year. Remaining for 2026; September 12-19 (in unit 8404), and October 17-24. Traded the assigned week of January 9-16, 2027 to be waitlisted top 5 for December 26, 2026- January 2, 2027. All the fabulous Ritz amenities including concierge and parking. Valet, fitness center, spa, pool and hot tubs, shuttle, bistro & café. Trading privileges at the other Ritz Residence Clubs in St. Thomas, Vail, Lake Tahoe and San Francisco. Exchange affiliation with Marriott gives a world of vacation opportunities. *Photos are stock photos, not actual unit. See 'Documents' for map, floor plan, and calendar.

Key facts

• $1,969 HOA
• Garage
• Pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $39k.

Deal economics

• At list price, monthly cash flow is $4k ($49k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $39k).
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#142 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, schools B+; Watch: amenities F, cost of living F, health & safety F.
• Aspen School District No. 1 In The County Of Pitkin And Sta (rural): math 36% / reading 56% proficiency, ranked #18 of 86 in CO (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+22.1%/yr); 324 active listings in the ZIP; solid renter incomes; 145 units permitted in Pitkin County in 2024 (89 in 5+ unit buildings).
• At $8,003/mo this rent would consume 116% of the median local household income ($83k/yr) (locally 566% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($270 loan paydown + $4k appreciation (10.0% local appreciation)).
• Pitkin County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 591 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $34,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 591 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 20.52% ✓
• Cap rate: 131.96%
• Cash-on-cash: 448.79%
• DSCR: 20.97
• GRM: 0.4

CMA / ARV

• ARV (median comp): $66,469
• List price: $39,000
• Delta: -41.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 30.76×
• Total profit: $324,981
• Equity at exit: $35,134

10-year hold

• IRR: —
• Equity multiple: 79.74×
• Total profit: $859,889
• Equity at exit: $75,768

Cash invested: $10,920 (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 81611

• Home prices YoY: 3.6%
• Rents YoY: 22.1%
• Active inventory: 324
• Price-to-rent: 0.4×

Monthly cashflow live

• Estimated rent: $8,003 medium
• Mortgage (P&I): −$205
• Tax est. 1.5%: −$49 /mo · $585/yr
• Insurance: −$16
• HOA: −$1,969
• Vacancy / Maint / Mgmt: −$1,681
• Net cashflow: $4,084

Break-even live

Break-even rent $2,834

Max offer price $39,000

Occupancy floor 44%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $1,969 · $23,628/yr
• Likely covers: poolgymdoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-19
   days on market $39,000 Active 591 DOM
2. 2026-06-18
   days on market $39,000 Active 590 DOM
3. 2026-06-17
   days on market $39,000 Active 589 DOM
4. 2026-06-16
   days on market $39,000 Active 588 DOM
5. 2026-06-15
   days on market $39,000 Active 587 DOM
6. 2026-06-14
   days on market $39,000 Active 585 DOM
7. 2026-06-12
   days on market $39,000 Active 584 DOM
8. 2026-06-09
   days on market $39,000 Active 581 DOM
9. 2026-06-08
   days on market $39,000 Active 580 DOM
10. 2026-06-07
    days on market $39,000 Active 579 DOM
11. 2026-06-05
    days on market $39,000 Active 576 DOM
12. 2026-06-02
    days on market $39,000 Active 574 DOM
13. 2026-06-01
    days on market $39,000 Active 573 DOM
14. 2026-05-31
    days on market $39,000 Active 572 DOM
15. 2026-05-30
    days on market $39,000 Active 571 DOM
16. 2026-03-20
    price $39,000 882-char remark

    Show marketing remark (882 chars)

    1/12 deeded interest in a luxury condominium right at the base of Aspen Highlands ski area. Residence 8412 is a 2 bedroom 2 1/2 bath top floor unit with balcony in the Elk Horn Lodge. Interest 7 gets you two consecutive summer weeks, one ski week and one float week each year. Remaining for 2026; September 12-19 (in unit 8404), and October 17-24. Traded the assigned week of January 9-16, 2027 to be waitlisted top 5 for December 26, 2026- January 2, 2027. All the fabulous Ritz amenities including concierge and parking. Valet, fitness center, spa, pool and hot tubs, shuttle, bistro & café. Trading privileges at the other Ritz Residence Clubs in St. Thomas, Vail, Lake Tahoe and San Francisco. Exchange affiliation with Marriott gives a world of vacation opportunities. *Photos are stock photos, not actual unit. See 'Documents' for map, floor plan, and calendar.

17. 2025-02-17
    price $45,000 882-char remark

    Show marketing remark (882 chars)

    1/12 deeded interest in a luxury condominium right at the base of Aspen Highlands ski area. Residence 8412 is a 2 bedroom 2 1/2 bath top floor unit with balcony in the Elk Horn Lodge. Interest 7 gets you two consecutive summer weeks, one ski week and one float week each year. Remaining for 2026; September 12-19 (in unit 8404), and October 17-24. Traded the assigned week of January 9-16, 2027 to be waitlisted top 5 for December 26, 2026- January 2, 2027. All the fabulous Ritz amenities including concierge and parking. Valet, fitness center, spa, pool and hot tubs, shuttle, bistro & café. Trading privileges at the other Ritz Residence Clubs in St. Thomas, Vail, Lake Tahoe and San Francisco. Exchange affiliation with Marriott gives a world of vacation opportunities. *Photos are stock photos, not actual unit. See 'Documents' for map, floor plan, and calendar.

18. 2024-11-05
    listed $53,000 Active 882-char remark

    Show marketing remark (882 chars)

    1/12 deeded interest in a luxury condominium right at the base of Aspen Highlands ski area. Residence 8412 is a 2 bedroom 2 1/2 bath top floor unit with balcony in the Elk Horn Lodge. Interest 7 gets you two consecutive summer weeks, one ski week and one float week each year. Remaining for 2026; September 12-19 (in unit 8404), and October 17-24. Traded the assigned week of January 9-16, 2027 to be waitlisted top 5 for December 26, 2026- January 2, 2027. All the fabulous Ritz amenities including concierge and parking. Valet, fitness center, spa, pool and hot tubs, shuttle, bistro & café. Trading privileges at the other Ritz Residence Clubs in St. Thomas, Vail, Lake Tahoe and San Francisco. Exchange affiliation with Marriott gives a world of vacation opportunities. *Photos are stock photos, not actual unit. See 'Documents' for map, floor plan, and calendar.

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥78°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $96,039
• − Mortgage interest: −$2,185
• − Property taxes: −$585
• − Insurance: −$195
• − Repairs & maintenance: −$7,683
• − Management: −$7,683
• − HOA: −$23,628
• − Depreciation: −$1,135
• Taxable income: $52,945
• Est. tax owed @ 24.0%: −$12,707
• After-tax cash flow: $36,301/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: Aspen School District No. 1 In The County Of Pitkin And Sta
• NCES district ID: 0802280
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $66,694
• Composite: 40.98/100
• National rank: #3595
• State rank: #18 of 86 in CO

Livability — Aspen

• Score: 66/100
• State rank: #142
• US rank: #11780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aspen, CO
• County: Pitkin County · 9,068 people
• City population: 9,068
• Metro: Glenwood Springs, CO
• Population (ZIP): 9,068
• Household income: $82,664
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 566.0

Population outlook (Pitkin County) Hauer SSP2

• Today (2025): 20,121 people
• By 2030: 21,110 · +4.9%
• By 2040: 22,707 · +12.9%
• By 2050: 24,105 · +19.8%
• By 2075: 27,933 · +38.8%
• By 2100: 30,018 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Salvadoran 4%
• Common ancestry: Slovak 3% Iranian 3% Romanian 3%
• Foreign-born: 15% · Canada, Dominican Republic, China
• Languages at home: 82% English-only · Spanish 9% Other Indo-European 2% Chinese 2%

Political lean MEDSL · Pitkin

• 2024 margin: Solid D (+44.2) · D 71.0% · R 26.8% · Other 2.2%
• 2008→2024 swing: -4.6pp toward R · 2008: 48.8pp · 2024: 44.2pp
• All cycles: 2024: D+44.2 2020: D+51.9 2016: D+45.4 2012: D+37.9 2008: D+48.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.97%
• Current HPI: 370.9593
• Rent YoY: ▲ 22.07%
• Metro: Glenwood Springs, 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

-26.4% since first listed

3 events — show timeline

• 2026-03-20 Price Changed $39,000 AGMLS
• 2025-02-17 Price Changed $45,000 AGMLS
• 2024-11-05 Listed $53,000 AGMLS