24244 W County Road 74e

Red Feather Lakes, CO 80545

$395,000D-

2 bd · 2.0 ba · 2,112 sqft · Built 1976 · SingleFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,807/mo
• Mortgage (P&I): −$2,071
• Tax + insurance: −$401
• HOA: −$0
• Vac / Maint / Mgmt: −$589
• Net cashflow: $-255/mo
• Annual: $-3,055/yr
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• 1% rule: 0.71%
• Cash to close: $110,600

Investor read

• This is a 2-bed/2.0-bath single-family listed at $395k.
• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $350k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $281k (28.9% below list).
• It's been on market 58 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $281k (28.9% below list) — sets the bar for 1% rule.
• In year one you build about $532 of equity ($3k loan paydown + $-2k appreciation (-0.6% local appreciation)).
• Location reads 55/100 on livability (#344 in CO) — a working-class tenant base; expect higher turnover. Strengths: employment B+, housing B+; Watch: cost of living C-, crime D-, amenities F.
• Poudre School District R-1 (urban): math 45% / reading 60% proficiency, ranked #10 of 86 in CO (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Traut Core Elementary School (math 67% / reading 77%, grade A-, #26 of 966 statewide, top 4%, 502 students, 12% FRL); Kinard Core Knowledge Middle School (math 61% / reading 77%, grade A, #8 of 270 statewide, top 3%, 748 students, 7% FRL); Poudre High School (math 36% / reading 59%, grade D, #131 of 381 statewide, top 34%, 1,663 students, 38% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: 155 active listings in the ZIP; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $157k; list at $395k implies a 152% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% vs local median 4.2% in Red Feather Lakes — 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 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 58 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.