100 Bachelor Ridge Rd #3314

Edwards, CO 81620

$110,000B+

3 bd · 3.5 ba · 2,196 sqft · Built 2002 · Condo · Active · 843 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,139/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$250
• HOA: −$1,641
• Vac / Maint / Mgmt: −$869
• Net cashflow: $802/mo
• Annual: $9,623/yr
• Cap rate: 15.77%
• Cash-on-cash: 33.83%
• DSCR: 2.51
• 1% rule: 3.76%
• Cash to close: $30,800

Investor read

• This is a 3-bed/3.5-bath condo listed at $110k.
• At list price, monthly cash flow is $802 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $110k).
• It's been on market 843 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($761 loan paydown + $7k appreciation (6.6% local appreciation)).
• Location reads 59/100 on livability (#268 in CO) — a working-class tenant base; expect higher turnover. Strengths: crime A, employment B+; Watch: schools D-, amenities F, commute 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.
• Watch-outs: flood insurance adds $66/mo; HOA is 40% of rent.
• Market conditions: 448 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.
• 19 sale attempts since 20y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k 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 15.8% vs local median 0.4% in Edwards — 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.
• At $4,139/mo this rent would consume 48% of the median local household income ($103k/yr) (locally 744% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 843 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
• 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.