2038 County Road 308

Downieville-Lawson-Dumont, CO 80436

$140,000D+

3 bd · 2.0 ba · 975 sqft · Built 1997 · Manufactured · Active · 550 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,404/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$295
• Net cashflow: $142/mo
• Annual: $1,704/yr
• Cap rate: 7.51%
• Cash-on-cash: 4.35%
• DSCR: 1.19
• 1% rule: 1.00%
• Cash to close: $39,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $140k.
• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• It's been on market 550 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Clear Creek School District No. Re-1 (rural): math 31% / reading 40% proficiency, ranked #66 of 176 in CO (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Georgetown Community School (math 30% / reading 30%, grade F, #506 of 966 statewide, top 52%, 94 students, 0% FRL, charter); Clear Creek Middle School (math 34% / reading 15%, grade F, #168 of 270 statewide, top 63%, 96 students, 35% FRL); Clear Creek High School (math 34% / reading 64%, grade D, #115 of 381 statewide, top 34%, 209 students, 18% FRL) — zoned schools at 18% FRL track the district average.
• Market conditions: 17 active listings in the ZIP; 23 units permitted in Clear Creek County in 2024 (0 in 5+ unit buildings).
• 5 sale attempts since 6y ago; this cycle's ask is 17% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $45k; list at $140k implies a 211% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 550 days. Have you received any prior offers? Is the seller open to a 12% 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.