600 S D Main St Unit 4204L

Breckenridge, CO 80424

$12,000D

3 bd · 3.0 ba · 1,655 sqft · Built 2000 · SingleFamily · Active · 337 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,191/mo
• Mortgage (P&I): −$63
• Tax + insurance: −$86
• HOA: −$546
• Vac / Maint / Mgmt: −$880
• Net cashflow: $2,615/mo
• Annual: $31,386/yr
• Cap rate: 274.49%
• Cash-on-cash: 957.84%
• DSCR: 43.62
• 1% rule: 34.92%
• Cash to close: $3,360

Investor read

• This is a 3-bed/3.0-bath single-family listed at $12k.
• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $12k).
• It's been on market 337 days — a 12% lower offer ($11k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $11k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $83 of loan paydown is wiped out by about $360 of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#62 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing B; Watch: health & safety C-, crime D, amenities F.
• Summit School District No. RE-1 (rural): math 27% / reading 43% proficiency, ranked #35 of 86 in CO (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 614 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 308 units permitted in Summit County in 2024 (123 in 5+ unit buildings).
• Summit County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 274.5% vs local median 0.7% in Breckenridge — 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 42% of the median local income ($121k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 337 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• 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 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?
• 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?
• 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?