29 W Andrew Ln · Cortez, CO 81321

$130,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 223 Days on market

Built 2006 9,583 sqft lot Est $258k · 50% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Are you looking for a fixer upper project or just a lot zoned for mobile/modular in the city limits? This property could go either way. Unfortunately, the 2006 manufactured home experienced fire damage. The house could be leveled or possibly be salvaged. This . 22 acre lot is in city limits, a rare find if you're looking for a lot zoned for modular/manufactured homes and a lot that has all utilities ready to go.

Key facts

• Lot zoned for mobile
• 9,583 sq ft lot
• Built 2006

Tags

• LOT ZONED FOR MOBILE
• LOT ZONED FOR MODULAR
• UTILITIES READY TO GO

Property features AI

Exterior

• Utilities: Connected to public water; Public sewer
• Home design: Single-story; Double wide mobile home
• Construction: Modular/Prefab construction; Vinyl siding; Block foundation with skirt and tie-downs
• Exterior features: Partial fencing; City street frontage; Residential single-family zoning

Interior

• Kitchen: Oven; Range; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom located on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Main level primary bedroom; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 3.3% in Cortez — 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.

Location & tenants

• Location reads 67/100 on livability (#125 in CO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D-, crime F, amenities F.
• Montezuma-Cortez School District No. Re-1 (town): math 16% / reading 33% proficiency, ranked #70 of 86 in CO (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 223 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 24 units permitted in Montezuma County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $91k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 12.17%
• Cash-on-cash: 20.98%
• DSCR: 1.93
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $258,336
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1255 S Madison St	0.21mi	3/2.0	1,232 (-1%)	9mo	$255,000	$207	80
802 Bluffs Blvd	0.57mi	3/2.0	1,344 (+8%)	0mo	$355,000	$264	60
405 W 7th #70	0.44mi	2/2.0 (-1)	1,280 (+3%)	13mo	$45,000	$35	60
425 W 7th St	0.54mi	3/2.0	1,128 (-10%)	7mo	$289,000	$256	53
519 S Beech St	0.55mi	3/2.0	1,120 (-10%)	6mo	$129,000	$115	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.53×
• Total profit: $19,415
• Equity at exit: $19,383

10-year hold

• IRR: 22.2%
• Equity multiple: 2.89×
• Total profit: $68,896
• Equity at exit: $11,240

Cash invested: $36,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 38 Tenant-Leaning
• State Colorado: 38 Tenant-Leaning · D+4
• County: — inherits STATE
• City: — inherits STATE

2023 reforms: 10-day cure, mandated notice, source-of-income protected. Courts backlogged in Denver.

Methodology + full state rankings →

ZIP-level market 81321

• Active inventory: 223
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,786 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$39 /mo · $464/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $636

Break-even live

Break-even rent $980

Max offer price $130,000

Occupancy floor 59%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
507 S Chestnut St Cortez, CO	3.0	2.0	1398	$1,800	$1.29	2d	1	0.55mi
446 S Linden St Cortez, CO	2.0	1.0	1040	$1,700	$1.63	2d	1	0.61mi
417 S Cedar St Cortez, CO	2.0	1.0	760	$1,350	$1.78	23d	1	0.76mi

Listing history 19 events

1. 2026-06-18
   days on market $130,000 Active 223 DOM
2. 2026-06-17
   days on market $130,000 Active 222 DOM
3. 2026-06-16
   days on market $130,000 Active 221 DOM
4. 2026-06-15
   days on market $130,000 Active 220 DOM
5. 2026-06-14
   days on market $130,000 Active 218 DOM
6. 2026-06-10
   days on market $130,000 Active 215 DOM
7. 2026-06-09
   days on market $130,000 Active 214 DOM
8. 2026-06-08
   days on market $130,000 Active 213 DOM
9. 2026-06-07
   days on market $130,000 Active 212 DOM
10. 2026-06-05
    days on market $130,000 Active 209 DOM
11. 2026-06-03
    days on market $130,000 Active 208 DOM
12. 2026-06-02
    days on market $130,000 Active 207 DOM
13. 2026-06-01
    days on market $130,000 Active 206 DOM
14. 2026-05-31
    days on market $130,000 Active 205 DOM
15. 2026-05-31
    days on market $130,000 Active 204 DOM
16. 2026-02-22
    price $130,000
17. 2025-12-07
    price $145,000
18. 2025-11-06
    listed $160,000 Active
19. 2005-10-21
    soldstatus $90,798

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CO · Resets to sale price

• Current annual tax: $464 · $39/mo
• Projected year-2 tax: $715 · $60/mo
• Expected delta: +$251/yr (+$21/mo · 54.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 8 d/yr ≥91°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,431
• − Mortgage interest: −$7,282
• − Property taxes: −$464
• − Insurance: −$650
• − Repairs & maintenance: −$1,715
• − Management: −$1,715
• − Depreciation: −$3,782
• Taxable income: $5,825
• Est. tax owed @ 24.0%: −$1,398
• After-tax cash flow: $6,238/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Montezuma-Cortez School District No. Re-1
• NCES district ID: 0803090
• Math proficiency: 16% ▼ -2.00%
• Reading proficiency: 33% ▼ -1.00%
• Median HH income: $42,394
• Composite: 20.85/100
• National rank: #8499
• State rank: #70 of 86 in CO

Livability — Cortez

• Score: 67/100
• State rank: #125
• US rank: #10641

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cortez, CO
• County: Montezuma County · 18,723 people
• City population: 14,236
• Metro: nan
• Population (ZIP): 14,236
• Household income: $59,506
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 403.0

Population outlook (Montezuma County) Hauer SSP2

• Today (2025): 26,943 people
• By 2030: 27,208 · +1.0%
• By 2040: 27,372 · +1.6%
• By 2050: 27,180 · +0.9%
• By 2075: 26,493 · -1.7%
• By 2100: 23,364 · -13.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 15% Two or more races 10% Native American 9% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 3% Iranian 3% Italian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 87% English-only · Spanish 6% Chinese 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Montezuma

• 2024 margin: Strong R (+21.0) · D 38.3% · R 59.3% · Other 2.5%
• 2008→2024 swing: -1.6pp toward R · 2008: -19.4pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+22.4 2016: R+30.3 2012: R+23.6 2008: R+19.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -274.25%
• Current HPI: 264.2281
• Rent YoY: —
• Metro: nan
• State GDP YoY: ▲ 1.95%
• F500 in state: 14

Industry mix (Fortune 500 HQ in CO)

Industry	F500 HQs	Revenue
▸Technology Distribution	1	$31B
▸Food / Agriculture	1	$18B
▸Packaging	1	$14B
▸Healthcare	1	$13B
▸Energy	1	$10B
▸Technology	1	$4B

Price history

+43.2% since first listed

4 events — show timeline

• 2026-02-22 Price Changed $130,000 cren
• 2025-12-07 Price Changed $145,000 cren
• 2025-11-06 Listed $160,000 cren
• 2005-10-21 Sold (Public Records) $90,798 Public Records

Property tax history

-2.1%/yr

Latest (2025): $464 · -11.4% YoY. Source: county tax records.