6122 Fourmile Canyon Dr

Mountain Meadows, CO 80302

$275,000D+

2 bd · 1.0 ba · 692 sqft · Built 1900 · SingleFamily · Active · 281 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,296/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$305
• HOA: −$0
• Vac / Maint / Mgmt: −$482
• Net cashflow: $66/mo
• Annual: $794/yr
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• 1% rule: 0.83%
• Cash to close: $77,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $275k.
• At list price, monthly cash flow is $66 ($794/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (16.5% below list).
• It's been on market 281 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $230k (16.5% below list) — sets the bar for 1% rule.
• 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 56/100 on livability (#329 in CO) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, cost of living F.
• Boulder Valley School District No. Re2 (urban): math 49% / reading 67% proficiency, ranked #6 of 86 in CO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Flatirons Elementary School (math 70% / reading 77%, grade A, #23 of 966 statewide, top 2%, 182 students, 15% FRL); Casey Middle School (math 34% / reading 47%, grade F, #76 of 270 statewide, top 28%, 452 students, 57% FRL); Boulder High School (math 64% / reading 81%, grade B+, #18 of 381 statewide, top 4%, 2,074 students, 28% FRL) — zoned schools average 33% FRL vs 16% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.6%/yr); 253 active listings in the ZIP; 1,688 units permitted in Boulder County in 2024 (1,136 in 5+ unit buildings).
• Boulder County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $7k; list at $275k implies a 3829% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe flood risk; severe wildfire risk — expect insurance premiums to compound above CPI over the hold.
• This rent runs 45% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 281 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.