242 E Meadow Dr Unit 303-9

Vail, CO 81657

$260,000D

2 bd · 2.0 ba · 1,206 sqft · Built 1998 · Condo · Active · 132 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,142/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$500
• HOA: −$1,319
• Vac / Maint / Mgmt: −$660
• Net cashflow: $-700/mo
• Annual: $-8,404/yr
• Cap rate: 3.37%
• Cash-on-cash: -10.45%
• DSCR: 0.54
• 1% rule: 1.21%
• Cash to close: $72,800

Investor read

• This is a 2-bed/2.0-bath condo listed at $260k.
• At list price, monthly cash flow is $-700 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (39.0% below list).
• Meets the 1% rule at list price ($3k rent vs $260k).
• It's been on market 132 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $159k (39.0% below list) — sets the bar for cash-flow.
• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (8.8% local appreciation)).
• Location reads 71/100 on livability (#76 in CO) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime D-, cost of living F, health & safety F.
• Eagle County School District No. RE-50 (town): math 22% / reading 42% proficiency, ranked #39 of 86 in CO (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Homestake Peak School (math 22% / reading 37%, grade F, #512 of 966 statewide, top 55%, 500 students, 53% FRL); Battle Mountain High School (math 29% / reading 57%, grade F, #152 of 381 statewide, top 40%, 904 students, 33% FRL).
• Watch-outs: flood insurance adds $66/mo; HOA is 42% of rent.
• Market conditions: 317 active listings in the ZIP; solid renter incomes; 387 units permitted in Eagle County in 2024 (256 in 5+ unit buildings).
• Eagle County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 23y 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 $170k; list at $260k implies a 53% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 3.4% vs local median 0.5% in Vail — 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

• 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?
• It's been on market 132 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?