383 S Hillcrest Dr #62 · Montrose, CO 81401

$75,000

2 bd · 1.0 ba · 952 sqft · Manufactured public records · 379 Days on market

Built 1977 Est $109k · 31% under ↓ 28% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

This wonderful 2 bedroom, 1 3/4 bath manufactured home is located in Paradise Village, the lot rent is $390 per month which includes Water, Sewer, Trash & irrigation water. This home has an incredible yard perfect for a small fur baby as part of the yard is fenced. (dogs allowed but breed restrictions) Nice Storage Shed. Covered parking area and lots of extra parking. Home features double oven, stove top, counter top microwave, Dishwasher and NEW refrigerator and Washer & Dryer.

Key facts

• Affordable lot rent
• Natural light
• Open layout

Tags

• OPEN LAYOUT
• NATURAL LIGHT
• MATURE LANDSCAPING
• AFFORDABLE LOT RENT
• LOCAL AMENITIES
• LOW-MAINTENANCE LIVING

Property features AI

Finance

• Other: Current use: Residential, Single Family; Possible use: Residential
• Financial info: Financial details not provided
• HOA & community: Paradise Village homeowners association

Exterior

• Parking: Parking details not provided
• Security: No security features listed
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story; Single wide mobile home; Residential single family zoning
• Construction: Aluminum siding; Composition roof; Crawl space foundation; Year built not provided
• Exterior features: Shed; Shed(s); Partial picket fencing

Interior

• Kitchen: Built-in oven; Cooktop; Range; Refrigerator; Dishwasher
• Bedrooms: Single wide mobile home (bedroom count not specified)
• Flooring: Laminate; Partial carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; Heating present
• Interior features: Breakfast bar; Eat-in kitchen; Kitchen island; Kitchen/dining combo; Unfurnished
• Laundry & utility: Washer; Dryer; Gas water heater

🏷️ Possibly a rental listed for sale. The $75,000 price doesn't fit this home's estimated sale value (~$108,528) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $780 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.8% vs local median 2.0% 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-, schools D+, employment D+.
• 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.
• Market conditions: 371 active listings in the ZIP; 271 units permitted in Montrose County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 379 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 379 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.05% ✓
• Cap rate: 18.77%
• Cash-on-cash: 44.55%
• DSCR: 2.98
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $108,528
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
383 S Hillcrest Dr #49	0.00mi	3/1.5 (+1)	924 (-3%)	0mo	$45,000	$49	88
383 S Hillcrest Dr #30	0.00mi	3/2.0 (+1)	924 (-3%)	2mo	$85,000	$92	85
383 S Hillcrest Dr #29	0.00mi	3/1.5 (+1)	994 (+4%)	22mo	$100,000	$101	68
383 S Hillcrest #1	0.00mi	2/2.0	1,092 (+15%)	18mo	$124,000	$114	56
2012 Sunlight Ct	0.18mi	3/2.0 (+1)	1,072 (+13%)	12mo	$335,000	$313	51
2102 Evans Ave	0.21mi	3/2.0 (+1)	1,072 (+13%)	13mo	$345,000	$322	49

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: 41.5%
• Equity multiple: 2.78×
• Total profit: $37,473
• Equity at exit: $11,183

10-year hold

• IRR: 47.7%
• Equity multiple: 5.59×
• Total profit: $96,459
• Equity at exit: $6,485

Cash invested: $21,000 (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: 371
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,541 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$13 /mo · $158/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $780

Break-even live

Break-even rent $554

Max offer price $75,000

Occupancy floor 44%

Sensitivity live

Price	-10% $822	-5% $801	+0% $780	+5% $758	+10% $647
Rent	-10% $658	-5% $719	+0% $780	+5% $840	+10% $901
Rate	-1.0pp $817	-0.5pp $799	base $780	+0.5pp $760	+1.0pp $740

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $75,000 Active 379 DOM
2. 2026-06-18
   days on market $75,000 Active 378 DOM
3. 2026-06-17
   days on market $75,000 Active 377 DOM
4. 2026-06-16
   days on market $75,000 Active 376 DOM
5. 2026-06-15
   days on market $75,000 Active 375 DOM
6. 2026-06-14
   days on market $75,000 Active 373 DOM
7. 2026-06-12
   days on market $75,000 Active 372 DOM
8. 2026-06-09
   days on market $75,000 Active 369 DOM
9. 2026-06-08
   days on market $75,000 Active 368 DOM
10. 2026-06-07
    days on market $75,000 Active 367 DOM
11. 2026-06-02
    days on market $75,000 Active 362 DOM
12. 2026-06-01
    days on market $75,000 Active 361 DOM
13. 2026-05-31
    days on market $75,000 Active 360 DOM
14. 2026-05-30
    days on market $75,000 Active 359 DOM
15. 2026-04-13
    price $79,000
16. 2025-09-15
    price $97,000
17. 2025-09-15
    price $99,000
18. 2025-09-15
    price $94,000
19. 2025-08-07
    price $99,000
20. 2025-06-05
    listed $105,000 Active
21. 2024-12-09
    soldstatus $95,000 Closed 495-char remark

    Show marketing remark (495 chars)

    This wonderful 2 bedroom, 1 3/4 bath manufactured home is located in Paradise Village, the lot rent is $390 per month which includes Water, Sewer, Trash & irrigation water. This home has an incredible yard perfect for a small fur baby as part of the yard is fenced. (dogs allowed but breed restrictions) Nice Storage Shed. Covered parking area and lots of extra parking. Home features double oven, stove top, counter top microwave, Dishwasher and NEW refrigerator and Washer & Dryer.

22. 2024-11-11
    price $99,900 495-char remark

    Show marketing remark (495 chars)

    This wonderful 2 bedroom, 1 3/4 bath manufactured home is located in Paradise Village, the lot rent is $390 per month which includes Water, Sewer, Trash & irrigation water. This home has an incredible yard perfect for a small fur baby as part of the yard is fenced. (dogs allowed but breed restrictions) Nice Storage Shed. Covered parking area and lots of extra parking. Home features double oven, stove top, counter top microwave, Dishwasher and NEW refrigerator and Washer & Dryer.

23. 2024-10-04
    listed $109,900 Active 495-char remark

    Show marketing remark (495 chars)

    This wonderful 2 bedroom, 1 3/4 bath manufactured home is located in Paradise Village, the lot rent is $390 per month which includes Water, Sewer, Trash & irrigation water. This home has an incredible yard perfect for a small fur baby as part of the yard is fenced. (dogs allowed but breed restrictions) Nice Storage Shed. Covered parking area and lots of extra parking. Home features double oven, stove top, counter top microwave, Dishwasher and NEW refrigerator and Washer & Dryer.

ⓘ 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: $158 · $13/mo
• Projected year-2 tax: $412 · $34/mo
• Expected delta: +$254/yr (+$21/mo · 160.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 6 d/yr ≥91°F today · 15 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: $18,491
• − Mortgage interest: −$4,201
• − Property taxes: −$158
• − Insurance: −$375
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − Depreciation: −$2,182
• Taxable income: $8,616
• Est. tax owed @ 24.0%: −$2,068
• After-tax cash flow: $7,287/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

• Census place: Montrose, CO
• 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

-28.1% since first listed

9 events — show timeline

• 2026-04-13 Price Changed $79,000 cren
• 2025-09-15 Price Changed $97,000 cren
• 2025-09-15 Price Changed $99,000 cren
• 2025-09-15 Price Changed $94,000 cren
• 2025-08-07 Price Changed $99,000 cren
• 2025-06-05 Listed $105,000 cren
• 2024-12-09 Sold (MLS) $95,000 cren
• 2024-11-11 Price Changed $99,900 cren
• 2024-10-04 Listed $109,900 cren

Property tax history

+14.1%/yr

Latest (2025): $158 · +100.4% YoY. Source: county tax records.