62880 Lasalle Rd #120 · Montrose, CO 81401

$86,900

3 bd · 2.0 ba · 1,088 sqft · Manufactured public records · 86 Days on market

Built 2018 Est $92k · 6% under

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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
• ARV discount +10.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Well established community where you own your home and rent the space. This 3 bed/2 full bath home has a nice split floor plan. The Master bathroom has a wonderful beauty soaking tub and shower. FAG and A/C really makes this home comfortable year round. The home is vinyl sided which makes it easy to keep clean-just wash it down. River Meadows is installing water taps through Mehoken Water District. Management said it should be activated some time this summer. The water bill will then be the responsibility of the homeowner to pay. It is the homeowners responsibiltiy to maintain their yard, rake leaves, mow and snow removal. The buyer much be pre approved through River Meadows Sales Office to lease a space in the community. Just go on line or stop by the sales office to fill out an application. River Meadows West has built a great play area, open lawn space and a pond the owners can catch and release. This is also available to all owners of River Meadows. River Meadows has a secured yard for owners R V's, boats and other recreational toys. Check the office for the storage fee.

Key facts

• Built 2018
• Listed 85 days

Property features AI

Finance

• HOA & community: Part of a homeowners association (Iver Meadows Home Community)

Exterior

• Utilities: Electricity available; Natural gas available; High-speed internet available; Public water; Public sewer
• Home design: Single-wide mobile home; 1 story; Skirted foundation; Composition roof; Vinyl siding; Residential single-family zoning / use
• Construction: Modular / prefab construction; Vinyl siding; Composition roof; Skirt foundation
• Exterior features: Covered porch; Porch; Shed; Back yard fencing

Interior

• Kitchen: Dishwasher; Exhaust fan; Microwave; Oven; Range; Refrigerator
• Bedrooms: Unfurnished
• Flooring: Laminate; Partially carpeted
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fan(s); Eat-in kitchen; Kitchen/dining combo; Window coverings / treatments
• Laundry & utility: Washer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $87k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $87k).
• Recommended offer: $82k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.3% 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 31% 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 $601 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 ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,686 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 2.13% ✓
• Cap rate: 19.27%
• Cash-on-cash: 46.36%
• DSCR: 3.06
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $92,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
62880 Lasalle Rd #113	0.00mi	3/2.0	1,120 (+3%)	18mo	$95,000	$85	80
62880 Lasalle Rd #19	0.00mi	2/2.0 (-1)	992 (-9%)	1mo	$82,200	$83	80
62880 Lasalle Rd #139	0.00mi	3/2.0	1,216 (+12%)	6mo	$64,000	$53	76
62880 Lasalle Rd #147	0.00mi	2/2.0 (-1)	1,152 (+6%)	13mo	$85,000	$74	74
62650 Lasalle Rd #805	0.29mi	3/2.0	1,155 (+6%)	5mo	$120,000	$104	72
62650 Lasalle Rd #331	0.29mi	3/2.0	1,140 (+5%)	10mo	$111,500	$98	71
62650 Lasalle Rd #337	0.29mi	3/2.0	1,140 (+5%)	12mo	$125,000	$110	69
62650 Lasalle Rd #807	0.29mi	3/2.0	1,140 (+5%)	13mo	$105,000	$92	68
62880 Lasalle Rd Rd Unit 131	0.00mi	3/2.0	1,248 (+15%)	10mo	$100,000	$80	67
62880 Lasalle Rd #87	0.00mi	3/2.0	960 (-12%)	18mo	$84,500	$88	65
62880 Lasalle Rd #100	0.00mi	3/2.0	1,216 (+12%)	20mo	$75,450	$62	64
62880 Lasalle Rd #48	0.00mi	2/1.0 (-1)	980 (-10%)	21mo	$50,000	$51	57

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: 19.1%
• Equity multiple: 1.78×
• Total profit: $18,861
• Equity at exit: $12,957

10-year hold

• IRR: 27.5%
• Equity multiple: 3.45×
• Total profit: $59,520
• Equity at exit: $7,514

Cash invested: $24,332 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,855 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$33 /mo · $402/yr
• Insurance: −$36
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $513

Break-even live

Break-even rent $1,205

Max offer price $86,900

Occupancy floor 67%

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: $21,725
• Closing costs: $2,607
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $86,900 Active 86 DOM
2. 2026-06-18
   days on market $86,900 Active 85 DOM
3. 2026-06-17
   days on market $86,900 Active 84 DOM
4. 2026-06-16
   days on market $86,900 Active 83 DOM
5. 2026-06-15
   days on market $86,900 Active 82 DOM
6. 2026-06-14
   days on market $86,900 Active 80 DOM
7. 2026-06-12
   days on market $86,900 Active 79 DOM
8. 2026-06-09
   days on market $86,900 Active 76 DOM
9. 2026-06-08
   days on market $86,900 Active 75 DOM
10. 2026-06-07
    days on market $86,900 Active 74 DOM
11. 2026-06-02
    days on market $86,900 Active 69 DOM
12. 2026-06-01
    days on market $86,900 Active 68 DOM
13. 2026-05-31
    days on market $86,900 Active 67 DOM
14. 2026-05-30
    days on market $86,900 Active 66 DOM
15. 2026-05-01
    price $86,900
16. 2026-03-24
    listed $91,900 Active
17. 2024-05-07
    soldstatus $88,000 Closed 1093-char remark

    Show marketing remark (1093 chars)

    Well established community where you own your home and rent the space. This 3 bed/2 full bath home has a nice split floor plan. The Master bathroom has a wonderful beauty soaking tub and shower. FAG and A/C really makes this home comfortable year round. The home is vinyl sided which makes it easy to keep clean-just wash it down. River Meadows is installing water taps through Mehoken Water District. Management said it should be activated some time this summer. The water bill will then be the responsibility of the homeowner to pay. It is the homeowners responsibiltiy to maintain their yard, rake leaves, mow and snow removal. The buyer much be pre approved through River Meadows Sales Office to lease a space in the community. Just go on line or stop by the sales office to fill out an application. River Meadows West has built a great play area, open lawn space and a pond the owners can catch and release. This is also available to all owners of River Meadows. River Meadows has a secured yard for owners R V's, boats and other recreational toys. Check the office for the storage fee.

18. 2024-04-17
    status Active 1093-char remark

    Show marketing remark (1093 chars)

    Well established community where you own your home and rent the space. This 3 bed/2 full bath home has a nice split floor plan. The Master bathroom has a wonderful beauty soaking tub and shower. FAG and A/C really makes this home comfortable year round. The home is vinyl sided which makes it easy to keep clean-just wash it down. River Meadows is installing water taps through Mehoken Water District. Management said it should be activated some time this summer. The water bill will then be the responsibility of the homeowner to pay. It is the homeowners responsibiltiy to maintain their yard, rake leaves, mow and snow removal. The buyer much be pre approved through River Meadows Sales Office to lease a space in the community. Just go on line or stop by the sales office to fill out an application. River Meadows West has built a great play area, open lawn space and a pond the owners can catch and release. This is also available to all owners of River Meadows. River Meadows has a secured yard for owners R V's, boats and other recreational toys. Check the office for the storage fee.

19. 2024-02-12
    price $89,950 1093-char remark

    Show marketing remark (1093 chars)

    Well established community where you own your home and rent the space. This 3 bed/2 full bath home has a nice split floor plan. The Master bathroom has a wonderful beauty soaking tub and shower. FAG and A/C really makes this home comfortable year round. The home is vinyl sided which makes it easy to keep clean-just wash it down. River Meadows is installing water taps through Mehoken Water District. Management said it should be activated some time this summer. The water bill will then be the responsibility of the homeowner to pay. It is the homeowners responsibiltiy to maintain their yard, rake leaves, mow and snow removal. The buyer much be pre approved through River Meadows Sales Office to lease a space in the community. Just go on line or stop by the sales office to fill out an application. River Meadows West has built a great play area, open lawn space and a pond the owners can catch and release. This is also available to all owners of River Meadows. River Meadows has a secured yard for owners R V's, boats and other recreational toys. Check the office for the storage fee.

20. 2024-01-09
    listed $98,900 Active 1093-char remark

    Show marketing remark (1093 chars)

    Well established community where you own your home and rent the space. This 3 bed/2 full bath home has a nice split floor plan. The Master bathroom has a wonderful beauty soaking tub and shower. FAG and A/C really makes this home comfortable year round. The home is vinyl sided which makes it easy to keep clean-just wash it down. River Meadows is installing water taps through Mehoken Water District. Management said it should be activated some time this summer. The water bill will then be the responsibility of the homeowner to pay. It is the homeowners responsibiltiy to maintain their yard, rake leaves, mow and snow removal. The buyer much be pre approved through River Meadows Sales Office to lease a space in the community. Just go on line or stop by the sales office to fill out an application. River Meadows West has built a great play area, open lawn space and a pond the owners can catch and release. This is also available to all owners of River Meadows. River Meadows has a secured yard for owners R V's, boats and other recreational toys. Check the office for the storage fee.

21. 2021-08-19
    soldstatus $75,000 288-char remark

    Show marketing remark (288 chars)

    This 3 bed/2bath 2019 single wide is located on the northwest side of Montrose in River Meadows Park. Beautiful kitchen with a pantry and dining area. Central A/C to help keep you cool on these hot, hot summer days! Natural gas/Forced air for heating. Beautifully maintained mobile park!

22. 2021-07-09
    listed $79,900 288-char remark

    Show marketing remark (288 chars)

    This 3 bed/2bath 2019 single wide is located on the northwest side of Montrose in River Meadows Park. Beautiful kitchen with a pantry and dining area. Central A/C to help keep you cool on these hot, hot summer days! Natural gas/Forced air for heating. Beautifully maintained mobile park!

ⓘ 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: $402 · $33/mo
• Projected year-2 tax: $478 · $40/mo
• Expected delta: +$76/yr (+$6/mo · 18.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 61% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 18 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: $22,259
• − Mortgage interest: −$4,868
• − Property taxes: −$402
• − Insurance: −$5,553
• − Repairs & maintenance: −$1,781
• − Management: −$1,781
• − Depreciation: −$2,528
• Taxable income: $5,347
• Est. tax owed @ 24.0%: −$1,283
• After-tax cash flow: $4,878/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

• 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

+8.8% since first listed

8 events — show timeline

• 2026-05-01 Price Changed $86,900 cren
• 2026-03-24 Listed $91,900 cren
• 2024-05-07 Sold (MLS) $88,000 cren
• 2024-04-17 Relisted — cren
• 2024-02-12 Price Changed $89,950 cren
• 2024-01-09 Listed $98,900 cren
• 2021-08-19 Sold (MLS) $75,000 cren
• 2021-07-09 Listed $79,900 cren

Property tax history

+16.1%/yr

Latest (2025): $402 · +445.0% YoY. Source: county tax records.