218 Grape St #28

Hudson, CO 80642

$90,000B

2 bd · 2.0 ba · 924 sqft · Built 2023 · Manufactured · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,275/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $453/mo
• Annual: $5,431/yr
• Cap rate: 12.33%
• Cash-on-cash: 21.55%
• DSCR: 1.96
• 1% rule: 1.42%
• Cash to close: $25,200

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $90k. Condition is rated fair.
• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#173 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-; Watch: schools F, amenities F, commute 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.
• Market conditions: 55 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 3 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.3% vs local median 0.9% in Hudson — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen backsplash — slight discoloration
• Minor: bathroom fixtures — slight wear