20325 Ramah Hwy

Ramah, CO 80832

$99,000B-

3 bd · 2.0 ba · 952 sqft · Built 1981 · Manufactured · Pending · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,115/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $197/mo
• Annual: $2,364/yr
• Cap rate: 8.68%
• Cash-on-cash: 8.53%
• DSCR: 1.38
• 1% rule: 1.13%
• Cash to close: $27,720

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $99k.
• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• It's been on market 102 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($684 loan paydown + $5k appreciation (4.9% local appreciation)).
• Location reads 52/100 on livability (#382 in CO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Big Sandy School District No. 100J (rural): math 45% / reading 65% proficiency, ranked #13 of 176 in CO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Simla Elementary School (math 10% / reading 44%, grade F, #552 of 966 statewide, top 59%, 166 students, 64% FRL); Simla Junior High School (math 64% / reading 50%, grade B, #19 of 270 statewide, top 7%, 89 students, 53% FRL); Simla High School (math 50% / reading 70%, grade C+, #53 of 381 statewide, top 17%, 106 students, 44% FRL) — zoned schools average 54% FRL vs 35% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 37 active listings in the ZIP; 3,906 units permitted in El Paso County in 2024 (872 in 5+ unit buildings).
• El Paso County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 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.
• Current owner paid $45k; list at $99k implies a 120% gain — meaningful room to come down on a strong offer.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-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.