28 Maroon Peak Cir

Keystone, CO 80435

$265,000C+

3 bd · 2.0 ba · 1,224 sqft · Built 2013 · Land · Active · 155 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,213/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$442
• HOA: −$0
• Vac / Maint / Mgmt: −$675
• Net cashflow: $707/mo
• Annual: $8,488/yr
• Cap rate: 9.50%
• Cash-on-cash: 11.44%
• DSCR: 1.51
• 1% rule: 1.21%
• Cash to close: $74,200

Investor read

• This is a 3-bed/2.0-bath land listed at $265k.
• At list price, monthly cash flow is $707 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• It's been on market 155 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 49/100 on livability (#412 in CO) — a working-class tenant base; expect higher turnover. Strengths: crime A-; Watch: commute C-, amenities F, cost of living F.
• Summit School District No. RE-1 (rural): math 27% / reading 43% proficiency, ranked #35 of 86 in CO (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Summit Cove Elementary School (math 44% / reading 47%, grade D-, #268 of 966 statewide, top 28%, 226 students, 32% FRL); Summit Middle School (math 24% / reading 38%, grade F, #126 of 270 statewide, top 46%, 764 students, 38% FRL); Summit High School (math 37% / reading 62%, grade D, #115 of 381 statewide, top 34%, 1,132 students, 29% FRL).
• Market conditions: 409 active listings in the ZIP; solid renter incomes; 308 units permitted in Summit County in 2024 (123 in 5+ unit buildings).
• Summit County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $74k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.5% vs local median 0.4% in Keystone — 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 40% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% 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.
• 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.