1311 Calm Mountain Pt

Woodland Park, CO 80863

$198,000D-

1 bd · 1.0 ba · 490 sqft · Built 2023 · Manufactured · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,418/mo
• Mortgage (P&I): −$1,038
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$298
• Net cashflow: $-83/mo
• Annual: $-996/yr
• Cap rate: 5.79%
• Cash-on-cash: -1.80%
• DSCR: 0.92
• 1% rule: 0.72%
• Cash to close: $55,440

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $198k.
• At list price, monthly cash flow is $-83 ($-996/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (28.4% below list).
• It's been on market 83 days — a 6% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $142k (28.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#78 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; Watch: commute F, cost of living F.
• Woodland Park School District No. Re-2 (town): math 28% / reading 47% proficiency, ranked #29 of 86 in CO (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Columbine Elementary School (math 24% / reading 52%, grade F, #393 of 966 statewide, top 41%, 227 students, 27% FRL); Woodland Park Middle School (math 27% / reading 47%, grade F, #95 of 270 statewide, top 37%, 386 students, 34% FRL); Woodland Park High School (math 37% / reading 62%, grade D, #115 of 381 statewide, top 34%, 579 students, 33% FRL).
• Market conditions: Rents rising (+3.6%/yr); 245 active listings in the ZIP; solid renter incomes; 148 units permitted in Teller County in 2024 (0 in 5+ unit buildings).
• Teller County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 5.8% vs local median 3.4% in Woodland Park — 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 is only 16% of the median local income ($105k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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 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.