62880 Lasalle Rd #180 · Montrose, CO 81401

$84,900

3 bd · 1.0 ba · 1,344 sqft · Manufactured public records · 4 Days on market

Built 1998 1,306 sqft lot Est $99k · 15% 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 +14.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRIGHT AND SUNNY HOME SITS ON RIVER LOT. TONS OF SPACE WITH A LARGE LIVING ROOM, KITCHEN AND ALL BEDROOMS HAVE WALK IN CLOSETS. WONDERFULLY CARED FOR DOUBLEWIDE HAS NEW WOOD LAMINATE FLOORING IN KITCHEN AND LAUNDRY ROOM. ALL APPLIANCES INCLUDED! WONDERFUL BACK YARD WITH OLD GROWTH TREES OPENS TO COMMON WALKING PATH ALONG RIVER. SPACIOUS DECK IS PERFECT FOR ENTERTAINING.

Key facts

• New flooring
• Uncompahgre river
• Large kitchen

Tags

• RIVER MEADOWS SUBDIVISION
• WALKING PATH ACCESS
• UNCOMPAHGRE RIVER
• NEW FLOORING
• NEW APPLIANCES
• LARGE KITCHEN

Property features AI

Finance

• HOA & community: Homeowners association (River Meadows)

Exterior

• Utilities: Electricity available; Natural gas available; High-speed internet available; Public water; Public sewer
• Home design: Single-story double wide modular/prefab home; Composition roof; Built in 2026
• Construction: Wood frame construction; Crawl space foundation
• Exterior features: Backs to greenbelt/park; River frontage; City street frontage; Paved road access

Interior

• Kitchen: Oven; Range; Dishwasher; Refrigerator; Gas water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Evaporative cooling
• Interior features: Double pane, thermal vinyl windows; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $586 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 20.6% vs local median 2.0% in Montrose — 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 68/100 on livability (#109 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+; Watch: amenities C-, schools D+, employment D+.
• Montrose County School District Re-1J (town): math 22% / reading 36% proficiency, ranked #55 of 86 in CO (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 371 active listings in the ZIP; 271 units permitted in Montrose County in 2024 (22 in 5+ unit buildings).
• This rent runs 32% of the median local income ($71k/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 $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montrose County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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 $40k; list at $85k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,900

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.27% ✓
• Cap rate: 20.61%
• Cash-on-cash: 51.12%
• DSCR: 3.27
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $99,456
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
62880 Lasalle Rd #22	0.00mi	3/2.0	1,404 (+4%)	14mo	$120,000	$85	77
62880 Lasalle Rd Rd Unit 131	0.00mi	3/2.0	1,248 (-7%)	10mo	$100,000	$80	76
62880 Lasalle Rd #139	0.00mi	3/2.0	1,216 (-10%)	6mo	$64,000	$53	75
62880 Lasalle Rd #71	0.00mi	3/2.0	1,280 (-5%)	17mo	$60,000	$47	74
62880 Lasalle Rd #100	0.00mi	3/2.0	1,216 (-10%)	20mo	$75,450	$62	63
62880 Lasalle Rd #147	0.00mi	2/2.0 (-1)	1,152 (-14%)	13mo	$85,000	$74	56
62650 Lasalle Rd #805	0.29mi	3/2.0	1,155 (-14%)	5mo	$120,000	$104	55

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: 24.3%
• Equity multiple: 2.00×
• Total profit: $23,816
• Equity at exit: $12,659

10-year hold

• IRR: 32.2%
• Equity multiple: 3.94×
• Total profit: $69,794
• Equity at exit: $7,341

Cash invested: $23,772 (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 81401

• Active inventory: 371
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,925 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$28 /mo · $334/yr
• Insurance: −$35
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $586

Break-even live

Break-even rent $1,183

Max offer price $84,900

Occupancy floor 65%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-30
   days on market $84,900 Active 4 DOM
2. 2026-05-26
   listed $84,900 Active
3. 2007-02-22
   soldstatus $40,000 373-char remark

   Show marketing remark (373 chars)

   BRIGHT AND SUNNY HOME SITS ON RIVER LOT. TONS OF SPACE WITH A LARGE LIVING ROOM, KITCHEN AND ALL BEDROOMS HAVE WALK IN CLOSETS. WONDERFULLY CARED FOR DOUBLEWIDE HAS NEW WOOD LAMINATE FLOORING IN KITCHEN AND LAUNDRY ROOM. ALL APPLIANCES INCLUDED! WONDERFUL BACK YARD WITH OLD GROWTH TREES OPENS TO COMMON WALKING PATH ALONG RIVER. SPACIOUS DECK IS PERFECT FOR ENTERTAINING.

4. 2006-10-19
   listed $44,500 373-char remark

   Show marketing remark (373 chars)

   BRIGHT AND SUNNY HOME SITS ON RIVER LOT. TONS OF SPACE WITH A LARGE LIVING ROOM, KITCHEN AND ALL BEDROOMS HAVE WALK IN CLOSETS. WONDERFULLY CARED FOR DOUBLEWIDE HAS NEW WOOD LAMINATE FLOORING IN KITCHEN AND LAUNDRY ROOM. ALL APPLIANCES INCLUDED! WONDERFUL BACK YARD WITH OLD GROWTH TREES OPENS TO COMMON WALKING PATH ALONG RIVER. SPACIOUS DECK IS PERFECT FOR ENTERTAINING.

5. 1997-08-26
   soldstatus $47,500

ⓘ 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: $334 · $28/mo
• Projected year-2 tax: $467 · $39/mo
• Expected delta: +$133/yr (+$11/mo · 40.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 61% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 18 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: $23,105
• − Mortgage interest: −$4,756
• − Property taxes: −$334
• − Insurance: −$5,543
• − Repairs & maintenance: −$1,848
• − Management: −$1,848
• − Depreciation: −$2,470
• Taxable income: $6,306
• Est. tax owed @ 24.0%: −$1,513
• After-tax cash flow: $5,520/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: Montrose County School District Re-1J
• NCES district ID: 0805790
• Math proficiency: 22% ▼ -5.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $45,650
• Composite: 24.9/100
• National rank: #7577
• State rank: #55 of 86 in CO

Livability — Montrose

• Score: 68/100
• State rank: #109
• US rank: #9310

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montrose County · 24,228 people
• City population: 24,228
• Metro: Montrose, CO
• Population (ZIP): 24,228
• Household income: $71,286
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 682.0

Population outlook (Montrose County) Hauer SSP2

• Today (2025): 39,229 people
• By 2030: 37,791 · -3.7%
• By 2040: 33,829 · -13.8%
• By 2050: 29,530 · -24.7%
• By 2075: 20,559 · -47.6%
• By 2100: 12,144 · -69.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 20% Two or more races 13% Native American 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1%

Political lean MEDSL · Montrose

• 2024 margin: Solid R (+32.6) · D 32.6% · R 65.2% · Other 2.2%
• 2008→2024 swing: -2.8pp toward R · 2008: -29.8pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+36.5 2016: R+42.1 2012: R+36.4 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.94%
• Current HPI: 373.4909
• Rent YoY: —
• Metro: Montrose, CO
• 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

+78.7% since first listed

4 events — show timeline

• 2026-05-26 Listed $84,900 cren
• 2007-02-22 Sold (MLS) $40,000 cren
• 2006-10-19 Listed $44,500 cren
• 1997-08-26 Sold (Public Records) $47,500 Public Records

Property tax history

+5.7%/yr

Latest (2025): $334 · +352.2% YoY. Source: county tax records.