435 32 Rd #709

Clifton, CO 81520

$75,000D

2 bd · 2.0 ba · 1,152 sqft · Built 2001 · Manufactured · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,498/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$58
• HOA: −$804
• Vac / Maint / Mgmt: −$315
• Net cashflow: $-71/mo
• Annual: $-856/yr
• Cap rate: 5.15%
• Cash-on-cash: -4.08%
• DSCR: 0.82
• 1% rule: 2.00%
• Cash to close: $21,000

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $75k.
• At list price, monthly cash flow is $-71 ($-856/yr) — negative.
• To cash-flow at today's rent, offer at most $62k (16.8% below list).
• Meets the 1% rule at list price ($1k rent vs $75k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $62k (16.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#140 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, commute A-; Watch: crime F, amenities F, employment F.
• Mesa County Valley School District No. 51 (suburban): math 26% / reading 38% proficiency, ranked #43 of 86 in CO (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chatfield Elementary School (math 22% / reading 32%, grade F, #568 of 966 statewide, top 60%, 401 students, 62% FRL); Grand Mesa Middle School (math 13% / reading 29%, grade F, #198 of 270 statewide, top 74%, 511 students, 59% FRL); Central High School (math 19% / reading 43%, grade F, #229 of 381 statewide, top 60%, 1,613 students, 45% FRL) — zoned schools average 55% FRL vs 39% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 54% of rent.
• Market conditions: Rents rising (+2.4%/yr); 135 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,014 units permitted in Mesa County in 2024 (240 in 5+ unit buildings).
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.2% vs local median 3.3% in Clifton — 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.
• This rent runs 36% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• 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?
• 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?
• 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.