62880 Lasalle Rd #23 · Montrose, CO 81401

$69,000

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 117 Days on market

Built 1984 Est $77k · 10% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +12.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Updated Home in River Meadows This well-cared-for 2-bedroom, 1-bath home is full of updates and natural light. The kitchen and dining area sit at the front of the home, featuring brand-new cabinets, countertops, and laminate flooring, plus recently replaced dishwasher and range/oven. The bright living room is just off the kitchen and offers plenty of space to relax. Down the hall, you’ll find two nicely sized bedrooms and a full bath with a new vanity. A convenient stackable washer/dryer is also located in the bathroom. Additional updates include all new windows, both exterior doors (plus storm door), and fresh exterior paint. Enjoy the outdoors from the covered front deck overlooking a fenced yard—complete with a storage shed. Move-in ready and updated throughout—come see all this River Meadows home has to offer!

Key facts

• Double closet
• New vanity
• Three closets

Tags

• BRAND NEW CABINETS
• BREAKFAST BAR
• NEW VANITY
• THREE CLOSETS
• DOUBLE CLOSET
• NEW WINDOWS

Property features AI

Finance

• HOA & community: Part of River Meadows homeowners association

Exterior

• Utilities: Electricity available; Natural gas available; High speed internet available; Public water; Public sewer
• Home design: Single family residential
• Exterior features: Back yard fencing; Shed(s)

Interior

• Kitchen: Microwave; Oven; Range; Dishwasher; Refrigerator
• Flooring: Laminate; Partially carpeted
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Evaporative cooling
• Interior features: Unfurnished; Sprinkler/Irrigation
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $69k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.1% vs local median 1.9% in Montrose — 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.

Location & tenants

• Location reads 68/100 on livability (#109 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+; Watch: amenities C-, schools D+, employment D+.
• Montrose County School District Re-1J (town): math 22% / reading 36% proficiency, ranked #55 of 86 in CO (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 375 active listings in the ZIP; 271 units permitted in Montrose County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montrose County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 2.22% ✓
• Cap rate: 19.08%
• Cash-on-cash: 45.68%
• DSCR: 3.03
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $76,692
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
62880 Lasalle Rd #12	0.00mi	2/1.0	912 (-1%)	12mo	$60,000	$66	88
62880 Lasalle Rd #19	0.00mi	2/2.0	992 (+7%)	1mo	$82,200	$83	83
62880 Lasalle Rd #48	0.00mi	2/1.0	980 (+6%)	21mo	$50,000	$51	73
62880 Lasalle Rd #87	0.00mi	3/2.0 (+1)	960 (+4%)	18mo	$84,500	$88	69
62880 Lasalle Rd #184	0.00mi	3/2.0 (+1)	1,024 (+11%)	21mo	$76,000	$74	56
62650 Lasalle Rd #327	0.29mi	3/2.0 (+1)	990 (+7%)	22mo	$110,000	$111	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.45×
• Total profit: $8,777
• Equity at exit: $10,288

10-year hold

• IRR: 20.6%
• Equity multiple: 2.77×
• Total profit: $34,134
• Equity at exit: $5,966

Cash invested: $19,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 38 Tenant-Leaning
• State Colorado: 38 Tenant-Leaning · D+4
• County: — inherits STATE
• City: — inherits STATE

2023 reforms: 10-day cure, mandated notice, source-of-income protected. Courts backlogged in Denver.

Methodology + full state rankings →

ZIP-level market 81401

• Active inventory: 375
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,535 medium
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $309

Break-even live

Break-even rent $1,144

Max offer price $69,000

Occupancy floor 75%

Sensitivity live

Price	-10% $357	-5% $333	+0% $309	+5% $285	+10% $261
Rent	-10% $188	-5% $248	+0% $309	+5% $369	+10% $430
Rate	-1.0pp $344	-0.5pp $326	base $309	+0.5pp $291	+1.0pp $273

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $69,000 Active 117 DOM
2. 2026-06-19
   days on market $69,000 Active 115 DOM
3. 2026-06-18
   price $69,000 Active 114 DOM
4. 2026-06-18
   days on market $72,500 Active 114 DOM
5. 2026-06-17
   days on market $72,500 Active 113 DOM
6. 2026-06-16
   days on market $72,500 Active 112 DOM
7. 2026-06-15
   days on market $72,500 Active 111 DOM
8. 2026-06-14
   days on market $72,500 Active 109 DOM
9. 2026-06-12
   days on market $72,500 Active 108 DOM
10. 2026-06-09
    days on market $72,500 Active 105 DOM
11. 2026-06-08
    days on market $72,500 Active 104 DOM
12. 2026-06-07
    days on market $72,500 Active 103 DOM
13. 2026-06-02
    days on market $72,500 Active 98 DOM
14. 2026-06-01
    days on market $72,500 Active 97 DOM
15. 2026-05-31
    days on market $72,500 Active 96 DOM
16. 2026-05-30
    days on market $72,500 Active 95 DOM
17. 2026-05-05
    price $72,500
18. 2026-02-22
    listed $74,500 Active
19. 2025-10-10
    soldstatus $67,000 Closed 853-char remark

    Show marketing remark (853 chars)

    Charming Updated Home in River Meadows This well-cared-for 2-bedroom, 1-bath home is full of updates and natural light. The kitchen and dining area sit at the front of the home, featuring brand-new cabinets, countertops, and laminate flooring, plus recently replaced dishwasher and range/oven. The bright living room is just off the kitchen and offers plenty of space to relax. Down the hall, you’ll find two nicely sized bedrooms and a full bath with a new vanity. A convenient stackable washer/dryer is also located in the bathroom. Additional updates include all new windows, both exterior doors (plus storm door), and fresh exterior paint. Enjoy the outdoors from the covered front deck overlooking a fenced yard—complete with a storage shed. Move-in ready and updated throughout—come see all this River Meadows home has to offer!

20. 2025-09-15
    price $69,500 853-char remark

    Show marketing remark (853 chars)

    Charming Updated Home in River Meadows This well-cared-for 2-bedroom, 1-bath home is full of updates and natural light. The kitchen and dining area sit at the front of the home, featuring brand-new cabinets, countertops, and laminate flooring, plus recently replaced dishwasher and range/oven. The bright living room is just off the kitchen and offers plenty of space to relax. Down the hall, you’ll find two nicely sized bedrooms and a full bath with a new vanity. A convenient stackable washer/dryer is also located in the bathroom. Additional updates include all new windows, both exterior doors (plus storm door), and fresh exterior paint. Enjoy the outdoors from the covered front deck overlooking a fenced yard—complete with a storage shed. Move-in ready and updated throughout—come see all this River Meadows home has to offer!

21. 2025-08-27
    listed $72,500 Active 853-char remark

    Show marketing remark (853 chars)

    Charming Updated Home in River Meadows This well-cared-for 2-bedroom, 1-bath home is full of updates and natural light. The kitchen and dining area sit at the front of the home, featuring brand-new cabinets, countertops, and laminate flooring, plus recently replaced dishwasher and range/oven. The bright living room is just off the kitchen and offers plenty of space to relax. Down the hall, you’ll find two nicely sized bedrooms and a full bath with a new vanity. A convenient stackable washer/dryer is also located in the bathroom. Additional updates include all new windows, both exterior doors (plus storm door), and fresh exterior paint. Enjoy the outdoors from the covered front deck overlooking a fenced yard—complete with a storage shed. Move-in ready and updated throughout—come see all this River Meadows home has to offer!

22. 2020-08-07
    soldstatus $37,000 757-char remark

    Show marketing remark (757 chars)

    Super clean and ready to move in house in beautiful River Meadows Park. Easy living. 14x70 with 2 bedrooms 1 bath, spacious interior, with 2 year old fridge, stove, water heater. Inviting front deck with a beautiful fenced backyard and trees to enjoy your space. Shed for extra storage. The house was re sided with Smartboard™ siding to add insulation. Has an evaporative cooler and an AC unit. Seller never used the AC unit. You maintain the yard, irrigation water through the park rent, which also includes water, sewer and trash! The Park is close to the Uncompahgre River and has RV and boat storage. Easy living. Check with River Meadows for a park application and rules on their website before submitting an offer. Must be pre approved by park.

23. 2020-06-22
    listed $39,000 757-char remark

    Show marketing remark (757 chars)

    Super clean and ready to move in house in beautiful River Meadows Park. Easy living. 14x70 with 2 bedrooms 1 bath, spacious interior, with 2 year old fridge, stove, water heater. Inviting front deck with a beautiful fenced backyard and trees to enjoy your space. Shed for extra storage. The house was re sided with Smartboard™ siding to add insulation. Has an evaporative cooler and an AC unit. Seller never used the AC unit. You maintain the yard, irrigation water through the park rent, which also includes water, sewer and trash! The Park is close to the Uncompahgre River and has RV and boat storage. Easy living. Check with River Meadows for a park application and rules on their website before submitting an offer. Must be pre approved by park.

24. 1991-09-30
    soldstatus $12,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 61% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,414
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$5,464
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$2,007
• Taxable income: $3,097
• Est. tax owed @ 24.0%: −$743
• After-tax cash flow: $2,963/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Montrose County School District Re-1J
• NCES district ID: 0805790
• Math proficiency: 22% ▼ -5.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $45,650
• Composite: 24.9/100
• National rank: #7577
• State rank: #55 of 86 in CO

Livability — Montrose

• Score: 68/100
• State rank: #109
• US rank: #9310

Category grades

Amenities C- Commute F Cost of living B- Crime C+ Employment D+ Housing A+ Health & safety B- User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montrose County · 24,228 people
• City population: 24,228
• Metro: Montrose, CO
• Population (ZIP): 24,228
• Household income: $71,286
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 682.0

Population outlook (Montrose County) Hauer SSP2

• Today (2025): 39,229 people
• By 2030: 37,791 · -3.7%
• By 2040: 33,829 · -13.8%
• By 2050: 29,530 · -24.7%
• By 2075: 20,559 · -47.6%
• By 2100: 12,144 · -69.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 20% Two or more races 13% Native American 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1%

Political lean MEDSL · Montrose

• 2024 margin: Solid R (+32.6) · D 32.6% · R 65.2% · Other 2.2%
• 2008→2024 swing: -2.8pp toward R · 2008: -29.8pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+36.5 2016: R+42.1 2012: R+36.4 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.94%
• Current HPI: 373.4909
• Rent YoY: —
• Metro: Montrose, CO
• State GDP YoY: ▲ 1.95%
• F500 in state: 14

Industry mix (Fortune 500 HQ in CO)

Industry	F500 HQs	Revenue
▸Technology Distribution	1	$31B
▸Food / Agriculture	1	$18B
▸Packaging	1	$14B
▸Healthcare	1	$13B
▸Energy	1	$10B
▸Technology	1	$4B

Price history

+504.2% since first listed

8 events — show timeline

• 2026-05-05 Price Changed $72,500 cren
• 2026-02-22 Listed $74,500 cren
• 2025-10-10 Sold (MLS) $67,000 cren
• 2025-09-15 Price Changed $69,500 cren
• 2025-08-27 Listed $72,500 cren
• 2020-08-07 Sold (MLS) $37,000 cren
• 2020-06-22 Listed $39,000 cren
• 1991-09-30 Sold (Public Records) $12,000 Public Records

Property tax history

+3.7%/yr

Latest (2021): $53 · +21.8% YoY. Source: county tax records.