810 Meadowlark Cv

Lafayette, CO 80026

$115,000D

3 bd · 2.0 ba · 1,344 sqft · Built 1978 · Manufactured · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,469/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$1,300
• Vac / Maint / Mgmt: −$519
• Net cashflow: $-144/mo
• Annual: $-1,729/yr
• Cap rate: 4.79%
• Cash-on-cash: -5.37%
• DSCR: 0.76
• 1% rule: 2.15%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $115k.
• At list price, monthly cash flow is $-144 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (18.1% below list).
• Meets the 1% rule at list price ($2k rent vs $115k).
• It's been on market 36 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (18.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#1 in CO, #566 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime C-, cost of living F.
• Boulder Valley School District No. Re2 (urban): math 49% / reading 67% proficiency, ranked #6 of 86 in CO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Alicia Sanchez International School (math 5% / reading 22%, grade F, #824 of 966 statewide, top 88%, 343 students, 74% FRL); Angevine Middle School (math 29% / reading 47%, grade F, #90 of 270 statewide, top 34%, 661 students, 44% FRL); Centaurus High School (math 54% / reading 74%, grade B-, #38 of 381 statewide, top 10%, 1,525 students, 32% FRL) — zoned schools average 50% FRL vs 16% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 38% at this address vs 58% district-wide (-20 pts) — the specific schools serving this property underperform the Boulder Valley School District No. Re2 average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 53% of rent.
• Market conditions: Rents rising (+1.6%/yr); 206 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,688 units permitted in Boulder County in 2024 (1,136 in 5+ unit buildings).
• Boulder County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.8% vs local median 2.6% in Lafayette — 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 36 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.