103 Adair Cir · Florissant, CO 80816

$162,500

1 bd · 1.0 ba · 554 sqft · Other public records · 330 Days on market

Built 1970 0.65 ac lot $4/mo HOA

---

Why this score? — see what drove the C- 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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

Key facts

• New walk-in shower
• Storage shed
• 0.65 acre lot

Tags

• NEW WALK-IN SHOWER
• STORAGE SHED
• HILLSIDE OF ASPEN TREES

Property features AI

Finance

• HOA & community: Colorado Mountain Estates association, professionally managed; Annual association fee of $49.60 (covers road maintenance)

Exterior

• Parking: 3 off-street parking spaces (unpaved)
• Utilities: Electricity connected (110V); Community sewer
• Home design: Single-family house, one story; Live/work current use; Property unattached; Estate ownership; Fixer condition
• Construction: Wood siding construction; Composition roof; Raised foundation; Built as a small footprint dwelling (living area recorded at 554)
• Exterior features: Front porch; Full fencing; Cul-de-sac lot with many trees, sloped terrain, near ski area; Vegetation includes aspen, pine, and grassed areas; Dirt road frontage with a road maintenance agreement; Well water source

Interior

• Kitchen: Range
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Wood
• Bathrooms: 1 three-quarter bathroom on the main level
• Heating & cooling: Electric baseboard heating
• Interior features: Single-level living with no stairs; Crawl-space basement with exterior entry (partial)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $162k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $162k).
• Recommended offer: $143k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.3% in Florissant — 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 57/100 on livability (#311 in CO) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living A, housing A-; Watch: amenities F, commute F, employment F.
• Cripple Creek-Victor School District No. Re-1 (rural): math 10% / reading 25% proficiency, ranked #157 of 176 in CO (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 277 active listings in the ZIP; 148 units permitted in Teller County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Teller County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 330 days — a 12% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $32k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $162k implies a 306% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $143,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 330 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.01% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.74%
• DSCR: 1.39
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-5,296
• Equity at exit: $24,229

10-year hold

• IRR: 6.6%
• Equity multiple: 1.49×
• Total profit: $22,271
• Equity at exit: $14,050

Cash invested: $45,500 (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 80816

• Home prices YoY: -18.1%
• Active inventory: 277
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,639 medium
• Mortgage (P&I): −$852
• Tax from tax record: −$39 /mo · $474/yr
• Insurance: −$68
• HOA: −$4
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $331

Break-even live

Break-even rent $1,219

Max offer price $162,500

Occupancy floor 75%

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: $40,625
• Closing costs: $4,875
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $4 · $48/yr
• Likely covers: internet

Listing history 25 events

1. 2026-06-18
   days on market $162,500 Active 330 DOM
2. 2026-06-17
   days on market $162,500 Active 329 DOM
3. 2026-06-16
   days on market $162,500 Active 328 DOM
4. 2026-06-15
   days on market $162,500 Active 327 DOM
5. 2026-06-14
   days on market $162,500 Active 325 DOM
6. 2026-06-13
   days on market $162,500 Active 324 DOM
7. 2026-06-10
   days on market $162,500 Active 322 DOM
8. 2026-06-09
   days on market $162,500 Active 321 DOM
9. 2026-06-08
   days on market $162,500 Active 320 DOM
10. 2026-06-07
    days on market $162,500 Active 319 DOM
11. 2026-06-03
    days on market $162,500 Active 315 DOM
12. 2026-06-03
    days on market $162,500 Active 314 DOM
13. 2026-06-01
    days on market $162,500 Active 313 DOM
14. 2026-05-31
    days on market $162,500 Active 312 DOM
15. 2026-04-07
    price $162,500 677-char remark

    Show marketing remark (677 chars)

    welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

16. 2026-04-07
    price $162,500 677-char remark

    Show marketing remark (677 chars)

    welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

17. 2025-10-22
    status Active 677-char remark

    Show marketing remark (677 chars)

    welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

18. 2025-10-22
    status Active 677-char remark

    Show marketing remark (677 chars)

    welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

19. 2025-10-20
    price $170,000 677-char remark

    Show marketing remark (677 chars)

    welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

20. 2025-10-20
    price $170,000 677-char remark

    Show marketing remark (677 chars)

    welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

21. 2025-07-15
    historical 677-char remark

    Show marketing remark (677 chars)

    welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

22. 2025-07-15
    historical 677-char remark

    Show marketing remark (677 chars)

    welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

23. 2025-04-15
    listed $195,000 Active 677-char remark

    Show marketing remark (677 chars)

    welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

24. 2025-04-15
    listed $195,000 Active 677-char remark

    Show marketing remark (677 chars)

    welcome to your cozy 2 bedroom, one bath cabin retreat. Nestled among Aspen trees in the Colorado Mountain Estates subdivision, the home is perfect for vacation getaways or year round living. High-speed internet access makes this the ultimate year-round remote workspace for the modern minimalist. The home boasts a new walk-in shower installed in 2024, a storage shed, and a hillside of aspen trees for you outdoor enjoyment. situated just south of Florissant, only 20 minutes from shopping in Woodland Park, gaming in Cripple Creek, or outdoor adventure in the Colorado forests and parks. Call today for your showing and start making memories in your new home away from home

25. 1996-12-04
    soldstatus $40,000

ⓘ 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: $474 · $39/mo
• Projected year-2 tax: $894 · $74/mo
• Expected delta: +$420/yr (+$35/mo · 88.6%)

ⓘ 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 7/10 Severe
• 🌡 Heat 1/10 Low 4 d/yr ≥81°F today · 9 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,668
• − Mortgage interest: −$9,103
• − Property taxes: −$474
• − Insurance: −$812
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − HOA: −$48
• − Depreciation: −$4,727
• Taxable income: $1,357
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $3,652/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: Cripple Creek-Victor School District No. Re-1
• NCES district ID: 0803180
• Math proficiency: 10% ▼ -5.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $48,346
• Composite: 19.0/100
• National rank: #13980
• State rank: #157 of 176 in CO

Livability — Florissant

• Score: 57/100
• State rank: #311
• US rank: #22011

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,372

Population outlook (Teller County) Hauer SSP2

• Today (2025): 22,404 people
• By 2030: 21,527 · -3.9%
• By 2040: 19,356 · -13.6%
• By 2050: 17,462 · -22.1%
• By 2075: 14,658 · -34.6%
• By 2100: 11,982 · -46.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 6% Slovak 5% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Teller

• 2024 margin: Solid R (+35.5) · D 31.0% · R 66.5% · Other 2.5%
• 2008→2024 swing: -7.3pp toward R · 2008: -28.1pp · 2024: -35.5pp
• All cycles: 2024: R+35.5 2020: R+35.2 2016: R+42.5 2012: R+33.1 2008: R+28.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.52%
• Current HPI: 332.3075
• Rent YoY: —
• Metro: —
• 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

+306.2% since first listed

11 events — show timeline

• 2026-04-07 Price Changed $162,500 IRES
• 2026-04-07 Price Changed $162,500 REColorado as Distributed by MLS Grid
• 2025-10-22 Relisted — IRES
• 2025-10-22 Relisted — REColorado as Distributed by MLS Grid
• 2025-10-20 Price Changed $170,000 IRES
• 2025-10-20 Price Changed $170,000 REColorado as Distributed by MLS Grid
• 2025-07-15 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-07-15 Listing Removed — IRES
• 2025-04-15 Listed $195,000 REColorado as Distributed by MLS Grid
• 2025-04-15 Listed $195,000 IRES
• 1996-12-04 Sold (Public Records) $40,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $474 · +62.7% YoY. Source: county tax records.