2 bd · 2.5 ba ·
1,874 sqft ·
Built 2002
· Condo
· Pending
· 54 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$4,229/mo
Mortgage (P&I)
−$629
Tax + insurance
−$266
HOA
−$1,486
Vac / Maint / Mgmt
−$888
Net cashflow
$959/mo
Annual
$11,508/yr
Cap rate
16.55%
Cash-on-cash
36.62%
DSCR
2.63
1% rule
3.52%
Cash to close
$33,600
Investor read
This is a 2-bed/2.5-bath condo listed at $120k.
At list price, monthly cash flow is $959 ($12k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($4k rent vs $120k).
It's been on market 54 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
In year one you build about $9k of equity ($830 loan paydown + $8k appreciation (6.6% local appreciation)).
Location reads 59/100 on livability (#268 in CO) — a working-class tenant base; expect higher turnover. Strengths: crime A, employment B+; Watch: schools D-, amenities F, commute 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.
Watch-outs: flood insurance adds $66/mo; HOA is 35% of rent.
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.
18 sale attempts since 21y 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.
At projected returns (6.6% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
Cap rate 16.5% vs local median 0.4% in Edwards — 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 $4,229/mo this rent would consume 49% 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
It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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.
CashFlowRE · CFR-NE3H7Q9G07VWN4
· Data 6 days agocashflowre.app · 2026-05-29