503 Evans Ave

Keenesburg, CO 80643

$429,990D+

3 bd · 2.0 ba · 1,639 sqft · Built 2021 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,041/mo
• Mortgage (P&I): −$2,255
• Tax + insurance: −$450
• HOA: −$40
• Vac / Maint / Mgmt: −$849
• Net cashflow: $447/mo
• Annual: $5,366/yr
• Cap rate: 7.54%
• Cash-on-cash: 4.46%
• DSCR: 1.20
• 1% rule: 0.94%
• Cash to close: $120,397

Investor read

• This is a 3-bed/2.0-bath single-family listed at $430k.
• At list price, monthly cash flow is $447 ($5k/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 $404k (6.0% below list).
• It's been on market 23 days — a 2% lower offer ($424k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $404k (6.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#296 in CO) — a working-class tenant base; expect higher turnover. Strengths: housing A+, employment A, crime B; Watch: amenities F, commute F, health & safety F.
• Weld County School District Re-3J (rural): math 18% / reading 31% proficiency, ranked #64 of 86 in CO (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hoff Elementary School (math 10% / reading 24%, grade F, #747 of 966 statewide, top 80%, 319 students, 42% FRL); Weld Central Middle School (math 12% / reading 27%, grade F, #207 of 270 statewide, top 79%, 525 students, 53% FRL); Weld Central Senior High School (math 22% / reading 42%, grade F, #220 of 381 statewide, top 59%, 697 students, 42% FRL).
• Market conditions: 62 active listings in the ZIP; 3,170 units permitted in Weld County in 2024 (278 in 5+ unit buildings).
• Weld County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 5y 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.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.5% vs local median 5.8% in Keenesburg — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.