100 Bachelor Rd #3409

Edwards, CO 81620

$103,000C-

2 bd · 2.5 ba · 1,570 sqft · Built 2002 · Condo · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,538/mo
• Mortgage (P&I): −$540
• Tax + insurance: −$238
• HOA: −$1,486
• Vac / Maint / Mgmt: −$953
• Net cashflow: $1,321/mo
• Annual: $15,850/yr
• Cap rate: 22.46%
• Cash-on-cash: 57.72%
• DSCR: 3.57
• 1% rule: 4.41%
• Cash to close: $28,840

Investor read

• This is a 2-bed/2.5-bath condo listed at $103k. Condition is rated excellent.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $103k).
• It's been on market 24 days — a 2% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (1.5% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($712 loan paydown + $7k appreciation (6.6% local appreciation)).
• Location reads 59/100 on livability (#268 in CO) — a working-class tenant base; expect higher turnover. Strengths: crime A, employment B+; Watch: schools D-, amenities F, commute F.
• Eagle County School District No. RE-50 (town): math 22% / reading 42% proficiency, ranked #39 of 86 in CO (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo; HOA is 33% of rent.
• Market conditions: 456 active listings in the ZIP; solid renter incomes; 387 units permitted in Eagle County in 2024 (256 in 5+ unit buildings).
• Eagle County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 13 sale attempts since 14y ago; this cycle's ask is 115% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $48k; list at $103k implies a 115% gain — meaningful room to come down on a strong offer.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 22.5% vs local median 0.4% in Edwards — 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's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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 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.