12205 Perry St

Broomfield, CO 80020

$130,000C+

3 bd · 2.0 ba · 2,339 sqft · Built 2011 · Land · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,088/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$217
• HOA: −$1,249
• Vac / Maint / Mgmt: −$649
• Net cashflow: $292/mo
• Annual: $3,510/yr
• Cap rate: 8.99%
• Cash-on-cash: 9.64%
• DSCR: 1.43
• 1% rule: 2.38%
• Cash to close: $36,400

Investor read

• This is a 3-bed/2.0-bath land listed at $130k.
• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#4 in CO, #932 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Adams 12 Five Star Schools (suburban): math 31% / reading 46% proficiency, ranked #26 of 86 in CO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 40% of rent.
• Market conditions: Rents soft (-0.5%/yr); 170 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 405 units permitted in Broomfield County in 2024 (335 in 5+ unit buildings).
• Broomfield County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 20 sale attempts since 3y ago; this cycle's ask is 6400% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Cap rate 9.0% vs local median 2.5% in Broomfield — 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.
• This rent runs 32% of the median local income ($117k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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.
• 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.