383 S Hillcrest Dr #13 · Montrose, CO 81401

$85,000

3 bd · 1.0 ba · 1,680 sqft · Manufactured public records · 77 Days on market

Built 1986

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Nice and roomy. Large living room, 2 bedrooms plus a craft room which has counter space and sink (could easily be 3rd bedroom). New range and hood in 2011. Both bathtubs have been refinished this summer. New water heater. Covered front porch. Metal roof. Handicap ramp to front door. Storage shed on concrete pad. SELLER IS NOT ABLE TO VACATE HOME UNTIL APRIL 2014. Buyer MUST be approved by Paradise Village Management. 55 years or older park. Space rent currently $265.00 per month which includes, sewer, trash, water. This is a mobile home park, real estate is NOT included.

Key facts

• Master suite
• Open living room
• Formal dining room

Tags

• FORMAL DINING ROOM
• OPEN LIVING ROOM
• STUDY OR DEN AREA
• MASTER SUITE
• UPDATED BATH
• WALK IN SHOWER

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Located in Paradise Village homeowners association

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; High-speed internet available
• Home design: Double wide mobile home; Single-story; Skirt foundation
• Construction: Masonite and wood frame construction; Composition roof; Built with a skirt foundation
• Exterior features: Landscaping; Shed(s); Chain link fencing; Rented lot with fenced yard; Paved city street frontage

Interior

• Kitchen: Oven; Range; Microwave
• Bedrooms: Primary bedroom located on the main level
• Flooring: Laminate; Linoleum; Partially carpeted
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Evaporative cooling; Window/wall air conditioning units
• Interior features: Window coverings and window treatments; Wired for data; Walk-in closet(s); Separate/formal dining room; Main level primary; Unfurnished (offered unfurnished)
• Laundry & utility: Washer hookup available; Washer; Dryer; Gas water heater

🏷️ Possibly a rental listed for sale. The $85,000 price doesn't fit this home's estimated sale value (~$354,480) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $972 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.0% vs local median 2.0% 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: 371 active listings in the ZIP; 271 units permitted in Montrose County in 2024 (22 in 5+ unit buildings).
• This rent runs 32% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $85k implies a 204% gain — meaningful room to come down on a strong offer.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.23% ✓
• Cap rate: 20.02%
• Cash-on-cash: 49.02%
• DSCR: 3.18
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $354,480
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1577 Pennsylvania St	0.06mi	2/2.0 (-1)	1,680 (0%)	14mo	$230,000	$137	77
1525 Pennsylvania St	0.08mi	3/2.0	1,463 (-13%)	24mo	$130,000	$89	51
1521 Pennsylvania Ave	0.09mi	3/2.0	1,456 (-13%)	24mo	$306,900	$211	50
403 6600 Rd	0.71mi	3/2.0	1,512 (-10%)	3mo	$477,000	$315	44
2013 Elbert Dr	0.25mi	4/2.0 (+1)	1,504 (-10%)	24mo	$375,000	$249	42

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: 46.6%
• Equity multiple: 3.02×
• Total profit: $48,135
• Equity at exit: $12,674

10-year hold

• IRR: 52.3%
• Equity multiple: 6.11×
• Total profit: $121,611
• Equity at exit: $7,349

Cash invested: $23,800 (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: 371
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,899 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$47 /mo · $568/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $972

Break-even live

Break-even rent $669

Max offer price $85,000

Occupancy floor 44%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $85,000 Active 77 DOM
2. 2026-06-18
   days on market $85,000 Active 76 DOM
3. 2026-06-17
   days on market $85,000 Active 75 DOM
4. 2026-06-16
   days on market $85,000 Active 74 DOM
5. 2026-06-15
   days on market $85,000 Active 73 DOM
6. 2026-06-14
   days on market $85,000 Active 71 DOM
7. 2026-06-12
   days on market $85,000 Active 70 DOM
8. 2026-06-09
   days on market $85,000 Active 67 DOM
9. 2026-06-08
   days on market $85,000 Active 66 DOM
10. 2026-06-07
    days on market $85,000 Active 65 DOM
11. 2026-06-02
    days on market $85,000 Active 60 DOM
12. 2026-06-01
    days on market $85,000 Active 59 DOM
13. 2026-05-31
    days on market $85,000 Active 58 DOM
14. 2026-05-30
    days on market $85,000 Active 57 DOM
15. 2026-05-23
    price $85,000
16. 2026-04-03
    listed $90,000 Active
17. 2026-04-03
    historical
18. 2026-03-05
    listed $95,000 Active
19. 2014-05-02
    soldstatus $28,000 579-char remark

    Show marketing remark (579 chars)

    Nice and roomy. Large living room, 2 bedrooms plus a craft room which has counter space and sink (could easily be 3rd bedroom). New range and hood in 2011. Both bathtubs have been refinished this summer. New water heater. Covered front porch. Metal roof. Handicap ramp to front door. Storage shed on concrete pad. SELLER IS NOT ABLE TO VACATE HOME UNTIL APRIL 2014. Buyer MUST be approved by Paradise Village Management. 55 years or older park. Space rent currently $265.00 per month which includes, sewer, trash, water. This is a mobile home park, real estate is NOT included.

20. 2013-09-13
    listed $29,500 579-char remark

    Show marketing remark (579 chars)

    Nice and roomy. Large living room, 2 bedrooms plus a craft room which has counter space and sink (could easily be 3rd bedroom). New range and hood in 2011. Both bathtubs have been refinished this summer. New water heater. Covered front porch. Metal roof. Handicap ramp to front door. Storage shed on concrete pad. SELLER IS NOT ABLE TO VACATE HOME UNTIL APRIL 2014. Buyer MUST be approved by Paradise Village Management. 55 years or older park. Space rent currently $265.00 per month which includes, sewer, trash, water. This is a mobile home park, real estate is NOT included.

21. 2013-09-13
    historical

    Show marketing remark (579 chars)

    Nice and roomy. Large living room, 2 bedrooms plus a craft room which has counter space and sink (could easily be 3rd bedroom). New range and hood in 2011. Both bathtubs have been refinished this summer. New water heater. Covered front porch. Metal roof. Handicap ramp to front door. Storage shed on concrete pad. SELLER IS NOT ABLE TO VACATE HOME UNTIL APRIL 2014. Buyer MUST be approved by Paradise Village Management. 55 years or older park. Space rent currently $265.00 per month which includes, sewer, trash, water. This is a mobile home park, real estate is NOT included.

22. 2013-05-03
    listed $32,500

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

Tax reassessment forecast CO · Resets to sale price

• Current annual tax: $568 · $47/mo
• Projected year-2 tax: $568 · $47/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 6 d/yr ≥91°F today · 15 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: $22,794
• − Mortgage interest: −$4,761
• − Property taxes: −$568
• − Insurance: −$425
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$2,473
• Taxable income: $10,920
• Est. tax owed @ 24.0%: −$2,621
• After-tax cash flow: $9,045/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

• Census place: Montrose, CO
• 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

+161.5% since first listed

8 events — show timeline

• 2026-05-23 Price Changed $85,000 cren
• 2026-04-03 Listing Removed — cren
• 2026-04-03 Listed $90,000 cren
• 2026-03-05 Listed $95,000 cren
• 2014-05-02 Sold (MLS) $28,000 cren
• 2013-09-13 Listing Removed — cren
• 2013-09-13 Listed $29,500 cren
• 2013-05-03 Listed $32,500 cren

Property tax history

+15.0%/yr

Latest (2025): $568 · +371.5% YoY. Source: county tax records.