210 Offerson Rd #312

Avon, CO 81620

$5,000C-

1 bd · 2.0 ba · 986 sqft · Built 1990 · Condo · Active · 925 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,295/mo
• Mortgage (P&I): −$26
• Tax + insurance: −$8
• HOA: −$191
• Vac / Maint / Mgmt: −$692
• Net cashflow: $2,377/mo
• Annual: $28,526/yr
• Cap rate: 576.82%
• Cash-on-cash: 2037.60%
• DSCR: 91.66
• 1% rule: 65.89%
• Cash to close: $1,400

Investor read

• This is a 1-bed/2.0-bath condo listed at $5k.
• At list price, monthly cash flow is $2k ($29k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $5k).
• It's been on market 925 days — a 12% lower offer ($4k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $4k (12.0% below list) — sets the bar for market timing.
• In year one you build about $367 of equity ($35 loan paydown + $332 appreciation (6.6% local appreciation)).
• Location reads 61/100 on livability (#220 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing B; Watch: schools F, crime D-, amenities 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.
• Market conditions: 448 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 25y ago; this cycle's ask is 67% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 576.8% vs local median 2.3% in Avon — 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.
• This rent runs 38% of the median local income ($103k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 925 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.