925 W 1st St #511

Craig, CO 81625

$68,500B+

3 bd · 2.0 ba · 1,216 sqft · Built 2007 · Manufactured · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,401/mo
• Mortgage (P&I): −$359
• Tax + insurance: −$43
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $705/mo
• Annual: $8,454/yr
• Cap rate: 18.63%
• Cash-on-cash: 44.08%
• DSCR: 2.96
• 1% rule: 2.05%
• Cash to close: $19,180

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $68k.
• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• It's been on market 99 days — a 9% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $474 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#160 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A; Watch: employment C-, schools D, crime D.
• Moffat County School District Re: No. 1 (town): math 22% / reading 35% proficiency, ranked #53 of 86 in CO (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 188 active listings in the ZIP; 18 units permitted in Moffat County in 2024 (0 in 5+ unit buildings).
• Moffat County population projected at -41% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $14k; list at $68k implies a 372% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 18.6% vs local median 3.2% in Craig — 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 99 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?
• 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?
• 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.