210 Offerson Rd #410

Avon, CO 81620

$325,000B-

3 bd · 3.0 ba · 1,800 sqft · Built 1990 · Condo · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,405/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$542
• HOA: −$699
• Vac / Maint / Mgmt: −$925
• Net cashflow: $535/mo
• Annual: $6,421/yr
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• 1% rule: 1.36%
• Cash to close: $91,000

Investor read

• This is a 3-bed/3.0-bath condo listed at $325k. Condition is rated good.
• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (6.6% local appreciation)).
• Location reads 61/100 on livability (#220 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing B; Watch: schools F, crime D-, amenities 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.
• 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.
• 8 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $10k; list at $325k implies a 3150% gain — meaningful room to come down on a strong offer.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 8.3% vs local median 2.3% in Avon — 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 $4,405/mo this rent would consume 51% 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

• 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?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.