51519 1 Hwy 6 Unit C-43 · Glenwood Springs, CO 81623

$305,000

2 bd · 1.0 ba · 689 sqft · Condo public records · 27 Days on market

Built 1979 $350/mo HOA · 9% of rent

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Why this score? — see what drove the C+ 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.3/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move in ready, priced to sell. Spacious 2-bed/1-bath condo in West Glenwood Springs. HOA covers heat, water, sewer, trash and grounds. No deed restrictions. Easy I-70 access, RFTA bus route nearby, close to shopping, dining, and medical. Top floor unit with great private and covered patio.

Key facts

• Easy i-70 access
• Close to dining
• Move in ready

Tags

• MOVE IN READY
• PRIVATE AND COVERED PATIO
• EASY I-70 ACCESS
• RFTA BUS ROUTE NEARBY
• CLOSE TO SHOPPING
• CLOSE TO DINING

Property features AI

Finance

• Other: Located in the Valley View Townhouse subdivision; Directions: From Glenwood Springs head west on Highway 6 & 24; property at 51519 Highway 6 & 24
• HOA & community: Association-managed community; Monthly association fee of $350; HOA fee includes unit heat, water, trash, sewer and snow removal

Exterior

• Parking: Assigned parking
• Home design: Condominium
• Exterior features: Membrane roof; Not new construction

Interior

• Kitchen: Oven; Refrigerator; Dishwasher
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Has heating
• Interior features: Excellent condition

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $305k.

Deal economics

• At list price, monthly cash flow is $728 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $305k).
• Recommended offer: $300k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 1.8% in Glenwood Springs — 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 66/100 on livability (#138 in CO) — a middle-class / working-renter tenant base. Strengths: employment A+, commute B+; Watch: amenities D, schools F, crime F.
• Roaring Fork School District No. Re-1 (town): math 28% / reading 39% proficiency, ranked #37 of 86 in CO (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 203 active listings in the ZIP; solid renter incomes; 171 units permitted in Garfield County in 2024 (64 in 5+ unit buildings).
• This rent runs 41% of the median local income ($110k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Garfield County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $305k implies a 239% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $300,425 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.23%
• DSCR: 1.46
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-2,926
• Equity at exit: $45,476

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $57,642
• Equity at exit: $26,371

Cash invested: $85,400 (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 81623

• Active inventory: 203
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,710 medium
• Mortgage (P&I): −$1,599
• Tax from tax record: −$126 /mo · $1,515/yr
• Insurance: −$127
• HOA: −$350
• Vacancy / Maint / Mgmt: −$779
• Net cashflow: $728

Break-even live

Break-even rent $2,788

Max offer price $305,000

Occupancy floor 75%

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: watersewertrashlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-19
   days on market $305,000 Active 27 DOM
2. 2026-06-18
   days on market $305,000 Active 26 DOM
3. 2026-06-17
   days on market $305,000 Active 25 DOM
4. 2026-06-16
   days on market $305,000 Active 24 DOM
5. 2026-06-15
   days on market $305,000 Active 23 DOM
6. 2026-06-14
   days on market $305,000 Active 21 DOM
7. 2026-06-12
   days on market $305,000 Active 20 DOM
8. 2026-06-09
   days on market $305,000 Active 17 DOM
9. 2026-06-08
   days on market $305,000 Active 16 DOM
10. 2026-06-07
    days on market $305,000 Active 15 DOM
11. 2026-06-02
    days on market $305,000 Active 10 DOM
12. 2026-06-01
    days on market $305,000 Active 9 DOM
13. 2026-05-31
    days on market $305,000 Active 8 DOM
14. 2026-05-30
    days on market $305,000 Active 7 DOM
15. 2026-05-23
    listed $305,000 Active
16. 2016-07-15
    soldstatus $90,000
17. 2013-12-31
    soldstatus $87,000
18. 2001-12-28
    soldstatus $86,000
19. 1995-11-22
    soldstatus $72,500
20. 1995-06-26
    soldstatus $63,000
21. 1995-03-16
    soldstatus $53,000
22. 1987-08-07
    soldstatus $18,000

ⓘ 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: $1,515 · $126/mo
• Projected year-2 tax: $1,678 · $140/mo
• Expected delta: +$162/yr (+$14/mo · 10.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 12 d/yr ≥85°F today · 31 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,522
• − Mortgage interest: −$17,085
• − Property taxes: −$1,515
• − Insurance: −$1,525
• − Repairs & maintenance: −$3,562
• − Management: −$3,562
• − HOA: −$4,200
• − Depreciation: −$8,873
• Taxable income: $4,201
• Est. tax owed @ 24.0%: −$1,008
• After-tax cash flow: $7,731/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: Roaring Fork School District No. Re-1
• NCES district ID: 0804260
• Math proficiency: 28% ▼ -3.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $67,893
• Composite: 30.78/100
• National rank: #6150
• State rank: #37 of 86 in CO

Livability — Glenwood Springs

• Score: 66/100
• State rank: #138
• US rank: #11529

Category grades

Amenities D Commute B+ Cost of living F Crime F Employment A+ Housing B- Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glenwood Springs, CO
• County: Garfield County · 31,911 people
• City population: 16,844
• Metro: Glenwood Springs, CO
• Population (ZIP): 15,067
• Household income: $109,661
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 391.0

Population outlook (Garfield County) Hauer SSP2

• Today (2025): 61,756 people
• By 2030: 63,255 · +2.4%
• By 2040: 64,952 · +5.2%
• By 2050: 64,937 · +5.2%
• By 2075: 62,413 · +1.1%
• By 2100: 55,730 · -9.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 28% Two or more races 7%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Portuguese 4% Slovak 4% Romanian 3%
• Foreign-born: 16% · Canada, Dominican Republic, China
• Languages at home: 73% English-only · Spanish 23% German/W. Germanic 2% Other Indo-European 1%

Political lean MEDSL · Garfield

• 2024 margin: Toss-up / Even · D 49.8% · R 47.7% · Other 2.5%
• 2008→2024 swing: +2.1pp toward D · 2008: -0.0pp · 2024: 2.1pp
• All cycles: 2024: D+2.1 2020: D+2.3 2016: R+7.1 2012: R+4.9 2008: R+0.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -606.12%
• Current HPI: 526.3564
• Rent YoY: —
• Metro: Glenwood Springs, 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

+1594.4% since first listed

8 events — show timeline

• 2026-05-23 Listed $305,000 AGMLS
• 2016-07-15 Sold (Public Records) $90,000 Public Records
• 2013-12-31 Sold (Public Records) $87,000 Public Records
• 2001-12-28 Sold (Public Records) $86,000 Public Records
• 1995-11-22 Sold (Public Records) $72,500 Public Records
• 1995-06-26 Sold (Public Records) $63,000 Public Records
• 1995-03-16 Sold (Public Records) $53,000 Public Records
• 1987-08-07 Sold (Public Records) $18,000 Public Records

Property tax history

+12.5%/yr

Latest (2025): $1,515 · +46.5% YoY. Source: county tax records.