Moonstone Plan

Bennett, CO 80102

$468,950D-

4 bd · 2.5 ba · 2,695 sqft · Built — · SingleFamily · Active · 576 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,500/mo
• Mortgage (P&I): −$2,714
• Tax + insurance: −$862
• HOA: −$0
• Vac / Maint / Mgmt: −$735
• Net cashflow: $-811/mo
• Annual: $-9,731/yr
• Cap rate: 4.41%
• Cash-on-cash: -6.72%
• DSCR: 0.70
• 1% rule: 0.68%
• Cash to close: $144,883

Investor read

• This is a 4-bed/2.5-bath single-family listed at $469k.
• At list price, monthly cash flow is $-811 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $400k (14.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (25.4% below list).
• It's been on market 576 days — a 12% lower offer ($413k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $350k (25.4% below list) — sets the bar for 1% rule.
• In year one you build about $55k of equity ($4k loan paydown + $52k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#263 in CO) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A-; Watch: cost of living D+, schools F, amenities F.
• Bennett School District No. 29J (rural): math 13% / reading 31% proficiency, ranked #69 of 86 in CO (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 212 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,299 units permitted in Adams County in 2024 (343 in 5+ unit buildings).
• Adams County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$89k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

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 576 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.