265 S 1st St

Hayden, CO 81639

$150,000C

3 bd · 2.0 ba · 1,184 sqft · Built 1998 · Manufactured · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,378/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $199/mo
• Annual: $2,384/yr
• Cap rate: 7.88%
• Cash-on-cash: 5.68%
• DSCR: 1.25
• 1% rule: 0.92%
• Cash to close: $42,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $150k.
• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (8.1% below list).
• It's been on market 93 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#154 in CO) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Hayden School District No. RE-1 (rural): math 15% / reading 40% proficiency, ranked #115 of 176 in CO (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hayden Valley Elementary School (math 5% / reading 34%, grade F, #694 of 966 statewide, top 73%, 245 students, 25% FRL); Hayden Middle School (math 15% / reading 34%, grade F, #168 of 270 statewide, top 63%, 94 students, 35% FRL); Hayden High School (math 10% / reading 50%, grade F, #233 of 381 statewide, top 64%, 115 students, 24% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: 87 active listings in the ZIP; 597 units permitted in Routt County in 2024 (418 in 5+ unit buildings).
• Routt County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $32k; list at $150k implies a 369% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.9% vs local median 1.2% in Hayden — 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

• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.