435 N 35th Ave #126

Greeley, CO 80631

$89,900C

3 bd · 2.0 ba · 1,216 sqft · Built 2011 · Manufactured · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,060/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $295/mo
• Annual: $3,534/yr
• Cap rate: 10.22%
• Cash-on-cash: 14.04%
• DSCR: 1.62
• 1% rule: 1.18%
• Cash to close: $25,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $90k.
• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#115 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: cost of living C-, crime F, amenities F.
• Greeleyschool District No. 6 In The County Of Weld And Sta (urban): math 15% / reading 31% proficiency, ranked #71 of 86 in CO (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Shawsheen Elementary School (math 5% / reading 22%, grade F, #824 of 966 statewide, top 88%, 366 students, 79% FRL); Franklin Middle School (math 11% / reading 22%, grade F, #224 of 270 statewide, top 83%, 446 students, 89% FRL); Northridge High School (math 13% / reading 36%, grade F, #266 of 381 statewide, top 79%, 1,253 students, 64% FRL) — zoned schools average 77% FRL vs 54% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.7%/yr); 185 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 3,170 units permitted in Weld County in 2024 (278 in 5+ unit buildings).
• Weld County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• Cap rate 10.2% vs local median 3.3% in Greeley — 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.

Questions for listing agent

• 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?
• 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?
• 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.