220 Emery St

Longmont, CO 80501

$365,000F

2 bd · 1.0 ba · 876 sqft · Built 1946 · SingleFamily · Pending · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,790/mo
• Mortgage (P&I): −$1,914
• Tax + insurance: −$408
• HOA: −$0
• Vac / Maint / Mgmt: −$376
• Net cashflow: $-907/mo
• Annual: $-10,889/yr
• Cap rate: 3.31%
• Cash-on-cash: -10.65%
• DSCR: 0.53
• 1% rule: 0.49%
• Cash to close: $102,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $365k.
• At list price, monthly cash flow is $-907 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (43.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (50.9% below list).
• It's been on market 20 days — a 2% lower offer ($360k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $179k (50.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#24 in CO, #2,736 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, housing A+; Watch: crime F, cost of living F.
• St. Vrain Valley School District No. Re1J (suburban): math 32% / reading 51% proficiency, ranked #23 of 86 in CO (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Columbine Elementary School (math 5% / reading 17%, grade F, #879 of 966 statewide, top 94%, 239 students, 83% FRL); Skyline High School (math 25% / reading 46%, grade F, #207 of 381 statewide, top 54%, 1,354 students, 62% FRL) — zoned schools average 72% FRL vs 27% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 42% district-wide (-18 pts) — the specific schools serving this property underperform the St. Vrain Valley School District No. Re1J average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 174 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 6 sale attempts since 28y 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 $73k; list at $365k implies a 400% gain — meaningful room to come down on a strong offer.
• Cap rate 3.3% vs local median 2.6% in Longmont — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F 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?
• 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.
• 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.