6000 County Road 203 #47 · Durango, CO 81301

$97,500

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 79 Days on market

Built 2000 Est $165k · 41% under ↓ 14% since listing

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Perched at the base of the Red Cliffs of Hermosa in Durango North Village, this 3-bedroom, 2-bath home captures red cliff and sweeping North Valley views, offering a front-row seat to incoming weather from the north. Built in 2000 and updated, the home blends comfort with meaningful upgrades that stand out. Home improvements include a brand new water heater (just one month old), a furnace replaced four years ago, and a roof that has been fully redone, with the south side completed last year and the north side this year. Inside, new flooring has been installed in the living room and kitchen areas, and most of the windows have been replaced and updated. The exterior of the home was repainted

Key facts

• New flooring
• Red cliff views
• New water heater

Tags

• RED CLIFF VIEWS
• SWEEPING NORTH VALLEY VIEWS
• NEW WATER HEATER
• REPLACED FURNACE
• FULLY REDONE ROOF
• NEW FLOORING

Property features AI

Exterior

• Exterior features: Shed; Has view; Residential single-family use

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Flooring: Partially carpeted; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Unfurnished; Partial carpeting, tile and vinyl flooring
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $92k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 1.1% in Durango — 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 (#106 in CO) — a middle-class / working-renter tenant base. Strengths: amenities A-, schools B+, employment B+; Watch: commute F, cost of living F.
• Durango School District No. 9-R (town): math 27% / reading 49% proficiency, ranked #30 of 86 in CO (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 580 active listings in the ZIP; solid renter incomes; 306 units permitted in La Plata County in 2024 (93 in 5+ unit buildings).
• This rent runs 33% of the median local income ($84k/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 $674 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• La Plata County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,650 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 2.33% ✓
• Cap rate: 20.11%
• Cash-on-cash: 49.34%
• DSCR: 3.20
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $165,376
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6000 County Road 203 #44	0.00mi	3/2.0	1,140 (-6%)	12mo	$155,000	$136	80

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 · 2.94% rent growth · sell at horizon

5-year hold

• IRR: 46.9%
• Equity multiple: 3.04×
• Total profit: $55,583
• Equity at exit: $14,538

10-year hold

• IRR: 52.6%
• Equity multiple: 6.13×
• Total profit: $140,027
• Equity at exit: $8,430

Cash invested: $27,300 (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 81301

• Rents YoY: 2.9%
• Active inventory: 580
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,274 medium
• Mortgage (P&I): −$511
• Tax est. 1.5%: −$122 /mo · $1,462/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $1,122

Break-even live

Break-even rent $853

Max offer price $97,500

Occupancy floor 46%

Sensitivity live

Price	-10% $1,190	-5% $1,156	+0% $1,122	+5% $1,089	+10% $1,055
Rent	-10% $943	-5% $1,033	+0% $1,122	+5% $1,212	+10% $1,302
Rate	-1.0pp $1,171	-0.5pp $1,147	base $1,122	+0.5pp $1,097	+1.0pp $1,071

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: $24,375
• Closing costs: $2,925
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $97,500 Active 79 DOM
2. 2026-06-18
   days on market $97,500 Active 78 DOM
3. 2026-06-17
   days on market $97,500 Active 77 DOM
4. 2026-06-16
   days on market $97,500 Active 76 DOM
5. 2026-06-15
   days on market $97,500 Active 75 DOM
6. 2026-06-14
   days on market $97,500 Active 73 DOM
7. 2026-06-12
   days on market $97,500 Active 72 DOM
8. 2026-06-09
   days on market $97,500 Active 69 DOM
9. 2026-06-08
   days on market $97,500 Active 68 DOM
10. 2026-06-07
    days on market $97,500 Active 67 DOM
11. 2026-06-05
    days on market $97,500 Active 64 DOM
12. 2026-06-03
    days on market $97,500 Active 63 DOM
13. 2026-06-02
    days on market $97,500 Active 62 DOM
14. 2026-06-01
    days on market $97,500 Active 61 DOM
15. 2026-05-31
    days on market $97,500 Active 60 DOM
16. 2026-05-30
    days on market $97,500 Active 59 DOM
17. 2026-05-13
    price $103,000
18. 2026-04-22
    price $113,000
19. 2026-04-01
    listed $120,000 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 9 d/yr ≥87°F today · 25 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,284
• − Mortgage interest: −$5,462
• − Property taxes: −$1,462
• − Insurance: −$488
• − Repairs & maintenance: −$2,183
• − Management: −$2,183
• − Depreciation: −$2,836
• Taxable income: $12,671
• Est. tax owed @ 24.0%: −$3,041
• After-tax cash flow: $10,428/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: Durango School District No. 9-R
• NCES district ID: 0803480
• Math proficiency: 27% ▼ -4.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $58,711
• Composite: 33.58/100
• National rank: #5420
• State rank: #30 of 86 in CO

Livability — Durango

• Score: 68/100
• State rank: #106
• US rank: #9262

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: La Plata County · 40,010 people
• City population: 29,774
• Metro: Durango, CO
• Population (ZIP): 29,774
• Household income: $83,943
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1194.0

Population outlook (La Plata County) Hauer SSP2

• Today (2025): 62,781 people
• By 2030: 66,492 · +5.9%
• By 2040: 72,944 · +16.2%
• By 2050: 78,543 · +25.1%
• By 2075: 89,403 · +42.4%
• By 2100: 94,984 · +51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 8% Two or more races 7% Native American 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 4% Italian 3% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · La Plata

• 2024 margin: D (+18.6) · D 58.0% · R 39.3% · Other 2.8%
• 2008→2024 swing: +2.4pp toward D · 2008: 16.3pp · 2024: 18.6pp
• All cycles: 2024: D+18.6 2020: D+17.7 2016: D+9.2 2012: D+8.8 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -651.69%
• Current HPI: 223.832
• Rent YoY: ▲ 2.94%
• Metro: Durango, 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

-14.2% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $103,000 cren
• 2026-04-22 Price Changed $113,000 cren
• 2026-04-01 Listed $120,000 cren

Property tax history

+6.6%/yr

Latest (2025): $137 · +172.6% YoY. Source: county tax records.