2962 Hall Ave · Grand Junction, CO 81504

$226,000

2 bd · 1.0 ba · 1,224 sqft · Manufactured public records · 59 Days on market

Built 1972 7,405 sqft lot Est $236k · at est. ↓ 4% since listing

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Why this score? — see what drove the F 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).

• ARV discount +9.4/15.0
• Cash flow +7.8/30.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Remodel near completion! No HOA, no lot rent! Opportunity knocks at 2962 Hall Avenue! This property is ideal for investors, flippers, or buyers looking to step in and finish a remodel with many of the big-ticket interior updates already completed. Recent improvements include all new windows, brand-new carpet and wood flooring, new kitchen cabinets and appliances, updated electrical, and all new sheetrock. The heavy lifting inside has been done, providing a clean, modern foundation and saving significant time and renovation costs. The exterior remains a blank canvas, offering strong value-add potential for those ready to enhance curb appeal and maximize resale value. With the interior sub

Key facts

• Wood flooring
• Updated electrical
• New carpet

Tags

• NEW WINDOWS
• NEW CARPET
• WOOD FLOORING
• NEW KITCHEN CABINETS
• NEW APPLIANCES
• UPDATED ELECTRICAL

Property features AI

Finance

• Other: Corner lot on a city street (60 x 130 / 0.17 acre); Zoning: RMF-5; Elevation approximately 4,583 ft

Exterior

• Utilities: Public water; Sewer connected
• Home design: Mobile home (double wide); Faces east
• Construction: Metal siding construction; Roof details listed as 'Other / See Remarks'; Has basement (other type)
• Exterior features: Dog run; Deck; Chain link fencing; Shed(s)

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Range hood; Trash compactor
• Flooring: Carpet; Wood
• Heating & cooling: No central heating listed; Ceiling fan(s) for cooling
• Interior features: Ceiling fans; Low emissivity windows
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $226k.

Deal economics

• At list price, monthly cash flow is $-247 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (26.4% below list).
• Recommended offer: $166k (26.4% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.1% in Grand Junction — 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 79/100 on livability (#15 in CO, #2,222 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A; Watch: employment D+, crime 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: Nisley Elementary School (math 12% / reading 17%, grade F, #813 of 966 statewide, top 85%, 349 students, 80% FRL); Bookcliff Middle School (math 18% / reading 26%, grade F, #188 of 270 statewide, top 72%, 449 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 61% FRL vs 39% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 288 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,014 units permitted in Mesa County in 2024 (240 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($219k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,398 (26.4% below list)

Questions for the listing agent

1. 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?
2. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.69%
• DSCR: 0.79
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $236,232
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2966 1/2 Sandra Ave	0.12mi	3/2.0 (+1)	1,216 (-1%)	5mo	$260,000	$214	80
551 E View Dr	0.04mi	3/2.0 (+1)	1,178 (-4%)	11mo	$270,000	$229	74
548 Garfield Dr	0.13mi	3/2.0 (+1)	1,248 (+2%)	12mo	$249,000	$200	71
551 Sunrise Dr	0.07mi	3/2.0 (+1)	1,064 (-13%)	4mo	$150,000	$141	62
531 Garfield Dr	0.19mi	3/2.0 (+1)	1,295 (+6%)	15mo	$237,500	$183	60
2958 1/2 Cedar Pl	0.20mi	2/2.0	1,088 (-11%)	10mo	$210,000	$193	60
565 Eastwood Dr	0.20mi	3/2.0 (+1)	1,120 (-8%)	10mo	$102,000	$91	59

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.18×
• Total profit: $-52,011
• Equity at exit: $33,697

10-year hold

• IRR: -18.6%
• Equity multiple: -0.01×
• Total profit: $-64,087
• Equity at exit: $19,540

Cash invested: $63,280 (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 81504

• Rents YoY: 3.2%
• Active inventory: 288
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,664 high
• Mortgage (P&I): −$1,185
• Tax est. 1.5%: −$282 /mo · $3,390/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-247

Break-even live

Break-even rent $1,977

Max offer price $190,217

Occupancy floor —

Sensitivity live

Price	-10% $-91	-5% $-169	+0% $-247	+5% $-325	+10% $-403
Rent	-10% $-379	-5% $-313	+0% $-247	+5% $-182	+10% $-116
Rate	-1.0pp $-133	-0.5pp $-190	base $-247	+0.5pp $-306	+1.0pp $-365

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: $56,500
• Closing costs: $6,780
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2961 1/2 Cedar Pl Grand Junction, CO	2.0	1.0	720	$1,250	$1.74	23d	1	0.17mi
541-529 E 1/2 Rd Grand Junction, CO	1.0–2.0	1.0	687	$1,510	$2.20	15d	1	0.19mi
2978 N Ronlin Ave Grand Junction, CO	3.0	2.0	1478	$2,095	$1.42	23d	1	0.51mi
2909 Dawn Dr Grand Junction, CO	2.0	1.5	950	$1,650	$1.74	23d	1	0.55mi
2907 Dawn Dr Unit 4 Grand Junction, CO	3.0	1.5	1000	$1,650	$1.65	23d	1	0.57mi
2907 Dawn Dr Grand Junction, CO	3.0	1.5	1000	$1,650	$1.65	15d	1	0.57mi
568 Dawn Ct Unit 1 Grand Junction, CO	2.0	1.0	1038	$1,100	$1.06	15d	1	0.57mi
612 Round Table Rd Grand Junction, CO	3.0	2.0	1238	$1,750	$1.41	15d	1	0.98mi
2948 Trinity Peaks Way Grand Junction, CO	3.0	2.0	1334	$1,800	$1.35	15d	1	1.03mi
2855 Elm Cir Unit 35 Grand Junction, CO	2.0	1.0	840	$1,050	$1.25	23d	1	1.08mi
655 Springbrook Dr Grand Junction, CO	3.0	2.5	1207	$1,795	$1.49	23d	1	1.09mi
521 28 1/2 Rd Grand Junction, CO	3.0	1.0	1040	$2,100	$2.02	23d	1	1.14mi
575 28 1/2 Rd Grand Junction, CO	3.0	2.5	1500	$1,950	$1.30	23d	1	1.14mi
575 28 1/2 Rd #33 Grand Junction, CO	3.0	2.0	1455	$1,950	$1.34	15d	1	1.15mi
451 Davis Rd Grand Junction, CO	2.0	1.0	1102	$1,400	$1.27	23d	1	1.27mi
461 N Sun Ct Grand Junction, CO	3.0	2.0	1200	$1,780	$1.48	23d	1	1.43mi
491 E 1/4 Rd Grand Junction, CO	2.0	1.0	897	$1,650	$1.84	23d	6	1.48mi

Listing history 3 events

1. 2026-04-20
   status Pending
2. 2026-04-09
   price $226,000
3. 2026-02-20
   listed $236,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 6 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,968
• − Mortgage interest: −$12,660
• − Property taxes: −$3,390
• − Insurance: −$1,130
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$6,575
• Taxable loss: −$6,981
• Est. tax savings @ 24.0%: +$1,675
• After-tax cash flow: $-1,292/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: Mesa County Valley School District No. 51
• NCES district ID: 0804350
• Math proficiency: 26% ▲ 1.00%
• Reading proficiency: 38% ▬ 0.00%
• Median HH income: $50,189
• Composite: 27.83/100
• National rank: #6884
• State rank: #43 of 86 in CO

Livability — Grand Junction

• Score: 79/100
• State rank: #15
• US rank: #2222

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Mesa County · 143,088 people
• City population: 113,583
• Metro: Grand Junction, CO
• Population (ZIP): 32,376
• Household income: $70,958
• Rent vs Own: 21.2% rent · 78.8% own
• Severe rent burden: 808.0

Population outlook (Mesa County) Hauer SSP2

• Today (2025): 153,000 people
• By 2030: 154,479 · +1.0%
• By 2040: 155,257 · +1.5%
• By 2050: 153,384 · +0.3%
• By 2075: 144,735 · -5.4%
• By 2100: 123,825 · -19.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 21% Two or more races 18%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Iranian 2% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 8%

Political lean MEDSL · Mesa

• 2024 margin: Strong R (+24.3) · D 36.6% · R 61.0% · Other 2.4%
• 2008→2024 swing: +5.2pp toward D · 2008: -29.5pp · 2024: -24.3pp
• All cycles: 2024: R+24.3 2020: R+28.0 2016: R+36.3 2012: R+32.8 2008: R+29.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -345.40%
• Current HPI: 309.0092
• Rent YoY: ▲ 3.20%
• Metro: Grand Junction, 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

-4.2% since first listed

3 events — show timeline

• 2026-04-20 Pending — GJARA
• 2026-04-09 Price Changed $226,000 GJARA
• 2026-02-20 Listed $236,000 GJARA

Property tax history

+12.6%/yr

Latest (2025): $211 · +387.1% YoY. Source: county tax records.