372 Gcr 442 2 Rd #2 · Grand Lake, CO 80447

$399,000

3 bd · 4.0 ba · 1,480 sqft · MultiFamily · 12 Days on market

Built 1983 Good condition $811/mo HOA · 38% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• 1% rule +0.3/10.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

One of the most spacious units in the complex, this townhome-style condo offers 3 large bedrooms, 4 baths across three full floors, and a layout that sleeps more people than most units in Soda Springs Ranch. Large windows throughout flood every level with natural light, and multiple decks give you fresh air and views whenever you want them. Fully furnished and move-in ready. Arrive and enjoy it day one. Boat storage, pool, gym, and clubhouse access, wildlife, and Grand Lake steps away. Come see why this one stands above the rest.

Key facts

• Multiple decks
• Pool access
• Clubhouse access

Tags

• TOWNHOME STYLE CONDO
• MULTIPLE DECKS
• BOAT STORAGE
• POOL ACCESS
• GYM ACCESS
• CLUBHOUSE ACCESS

Property features AI

Finance

• HOA & community: Homeowners association; Quarterly association fee; Association amenities include pool, game room, spa/hot tub, meeting room, sauna; Association covers trash, grounds maintenance, snow removal, and insurance

Exterior

• Parking: 1-car garage; Carport
• Utilities: Electric service on property
• Home design: Residential income property; Multi-family; One level
• Construction: Frame construction
• Exterior features: Deck; Gas grill; Public maintained road

Interior

• Kitchen: Self-cleaning oven; Range; Microwave; Refrigerator; Dishwasher; Disposal
• Bathrooms: 1 full bathroom; 3 three-quarter bathrooms
• Heating & cooling: Baseboard heating; Electric heating; Ceiling fan(s) for cooling
• Interior features: Ceiling fan(s); Smoke detector(s); Therapeutic whirlpool
• Laundry & utility: Washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath multifamily listed at $399k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-23k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (68.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (47.0% below list).
• Recommended offer: $124k (68.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 63/100 on livability (#184 in CO) — a middle-class / working-renter tenant base. Strengths: crime B+; Watch: cost of living C-, housing C-, schools D.
• East Grand School District No. 2 (rural): math 36% / reading 58% proficiency, ranked #17 of 86 in CO (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 263 active listings in the ZIP; solid renter incomes; 294 units permitted in Grand County in 2024 (82 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Grand County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.

Recommended offer $124,315 (68.8% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.53% ✗
• Cap rate: 0.58%
• Cash-on-cash: -20.39%
• DSCR: 0.09
• GRM: 15.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -58.4%
• Equity multiple: -0.66×
• Total profit: $-185,028
• Equity at exit: $59,492

10-year hold

• IRR: —
• Equity multiple: -1.82×
• Total profit: $-314,646
• Equity at exit: $34,498

Cash invested: $111,720 (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 80447

• Active inventory: 263
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $2,114 medium
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$811
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $-1,898

Break-even live

Break-even rent $4,517

Max offer price $124,315

Occupancy floor —

Sensitivity live

Price	-10% $-1,623	-5% $-1,760	+0% $-1,898	+5% $-2,036	+10% $-2,174
Rent	-10% $-2,065	-5% $-1,982	+0% $-1,898	+5% $-1,815	+10% $-1,731
Rate	-1.0pp $-1,697	-0.5pp $-1,797	base $-1,898	+0.5pp $-2,002	+1.0pp $-2,107

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $811 · $9,732/yr
• Likely covers: poolgym

Listing history 6 events

1. 2026-06-03
   status $399,000 Pending 12 DOM
2. 2026-06-02
   days on market $399,000 Active 12 DOM
3. 2026-06-01
   days on market $399,000 Active 11 DOM
4. 2026-05-31
   days on market $399,000 Active 10 DOM
5. 2026-05-31
   days on market $399,000 Active 9 DOM
6. 2026-05-21
   listed $399,000 Active

ⓘ 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 1/10 Low FEMA zone D · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥80°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,369
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$2,030
• − Management: −$2,030
• − HOA: −$9,732
• − Depreciation: −$11,607
• Taxable loss: −$30,360
• Est. tax savings @ 24.0%: +$7,286
• After-tax cash flow: $-15,493/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This multi-family unit is in good condition with minimal repairs needed. Painting the exterior and updating the kitchen would significantly increase its value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet with hardwood — Improves aesthetics and value
• Both Update kitchen appliances — Modernizes the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood — Improves aesthetics and value ↑
• Both Update kitchen appliances — Modernizes the space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: East Grand School District No. 2
• NCES district ID: 0804320
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 58% ▲ 4.00%
• Median HH income: $64,903
• Composite: 41.64/100
• National rank: #3424
• State rank: #17 of 86 in CO

Livability — Grand Lake

• Score: 63/100
• State rank: #184
• US rank: #15199

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Grand County · 5,874 people
• City population: 1,857
• Metro: nan
• Population (ZIP): 1,857
• Household income: $96,000
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 109.0

Population outlook (Grand County) Hauer SSP2

• Today (2025): 14,498 people
• By 2030: 14,215 · -2.0%
• By 2040: 13,225 · -8.8%
• By 2050: 12,186 · -15.9%
• By 2075: 10,196 · -29.7%
• By 2100: 8,326 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 12%
• Common ancestry: Portuguese 5% Serbian 4% Iranian 3%
• Foreign-born: 5% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Grand

• 2024 margin: Toss-up / Even · D 48.0% · R 48.8% · Other 3.2%
• 2008→2024 swing: +0.3pp no change · 2008: -1.1pp · 2024: -0.8pp
• All cycles: 2024: R+0.8 2020: R+1.8 2016: R+13.5 2012: R+7.2 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -218.96%
• Current HPI: 337.8691
• Rent YoY: —
• Metro: nan
• 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

1 event — show timeline

• 2026-05-21 Listed $399,000 GCAR