62880 Lasalle Rd #111 · Montrose, CO 81401

$89,000

3 bd · 2.0 ba · 1,110 sqft · Manufactured public records · 167 Days on market

Built 2008 Est $94k · 6% under ↓ 11% 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 +10.1/15.0
• 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

Exclusively available in charming River Meadows, this 3-bedroom split floorplan residence boasts an inviting layout, with an open kitchen seamlessly flowing into the living area. Essential appliances, excluding the freezer, are thoughtfully included. The generously sized bedrooms include a private primary suite, and two full bathrooms for convenience. The home showcases excellent upkeep, benefiting from central A/C and the presence of all blinds. Don't miss the handy storage shed outside. Experience the tranquility of this location with a monthly lot rent of $575, covering water, sewer, trash, and an array of HOA amenities such as green spaces, basketball courts, and a playground. Maintaining the lawn around the home is a requirement for the owner, ensuring the overall appeal of the property. Detailed information can be found on the River Meadow’s website. Prospective buyers need to undergo an application and approval process by the Manufactured Home Park (MHP) for purchase eligibility. Available to owner occupants only.

Key facts

• Central a/c
• Storage shed
• Green spaces

Tags

• OPEN KITCHEN
• PRIVATE PRIMARY SUITE
• CENTRAL A/C
• STORAGE SHED
• GREEN SPACES
• BASKETBALL COURTS

Property features AI

Finance

• Financial info: Annual tax amount listed (not included per instructions)
• HOA & community: Homeowners association: River Meadows; Community playground

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Central air; Forced air heating (natural gas)
• Home design: Single-wide mobile home; 1 story; Skirted foundation; Composition roof; Modular/prefab construction; Vinyl siding; Paved road access; Residential single-family use
• Construction: Modular/prefab construction; Vinyl siding; Composition roof; Skirt foundation
• Exterior features: Deck; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Primary bedroom on main level
• Flooring: Partially carpeted; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Eat-in kitchen; Kitchen/dining combo; Main level primary; Unfurnished
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $89k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.1% vs local median 1.9% 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: 375 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 $615 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago 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.

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 $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% 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: 2.10% ✓
• Cap rate: 19.07%
• Cash-on-cash: 45.63%
• DSCR: 3.03
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $94,350
• 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 (+1%)	18mo	$95,000	$85	83
62880 Lasalle Rd #139	0.00mi	3/2.0	1,216 (+10%)	6mo	$64,000	$53	79
62880 Lasalle Rd #147	0.00mi	2/2.0 (-1)	1,152 (+4%)	13mo	$85,000	$74	78
62880 Lasalle Rd #19	0.00mi	2/2.0 (-1)	992 (-11%)	1mo	$82,200	$83	77
62650 Lasalle Rd #805	0.29mi	3/2.0	1,155 (+4%)	5mo	$120,000	$104	76
62650 Lasalle Rd #331	0.29mi	3/2.0	1,140 (+3%)	10mo	$111,500	$98	74
62650 Lasalle Rd #337	0.29mi	3/2.0	1,140 (+3%)	12mo	$125,000	$110	72
62650 Lasalle Rd #807	0.29mi	3/2.0	1,140 (+3%)	13mo	$105,000	$92	72
62880 Lasalle Rd Rd Unit 131	0.00mi	3/2.0	1,248 (+12%)	10mo	$100,000	$80	71
62880 Lasalle Rd #100	0.00mi	3/2.0	1,216 (+10%)	20mo	$75,450	$62	67
62880 Lasalle Rd #87	0.00mi	3/2.0	960 (-14%)	18mo	$84,500	$88	62
62880 Lasalle Rd #48	0.00mi	2/1.0 (-1)	980 (-12%)	21mo	$50,000	$51	54

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: 18.8%
• Equity multiple: 1.76×
• Total profit: $18,998
• Equity at exit: $13,270

10-year hold

• IRR: 27.2%
• Equity multiple: 3.42×
• Total profit: $60,235
• Equity at exit: $7,695

Cash invested: $24,920 (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: 375
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,869 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$26 /mo · $306/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $521

Break-even live

Break-even rent $1,210

Max offer price $89,000

Occupancy floor 67%

Sensitivity live

Price	-10% $571	-5% $546	+0% $521	+5% $496	+10% $471
Rent	-10% $373	-5% $447	+0% $521	+5% $595	+10% $669
Rate	-1.0pp $566	-0.5pp $544	base $521	+0.5pp $498	+1.0pp $474

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $89,000 Active 167 DOM
2. 2026-06-19
   days on market $89,000 Active 165 DOM
3. 2026-06-18
   days on market $89,000 Active 164 DOM
4. 2026-06-17
   days on market $89,000 Active 163 DOM
5. 2026-06-16
   days on market $89,000 Active 162 DOM
6. 2026-06-15
   days on market $89,000 Active 161 DOM
7. 2026-06-14
   days on market $89,000 Active 159 DOM
8. 2026-06-12
   days on market $89,000 Active 158 DOM
9. 2026-06-09
   days on market $89,000 Active 155 DOM
10. 2026-06-08
    days on market $89,000 Active 154 DOM
11. 2026-06-07
    days on market $89,000 Active 153 DOM
12. 2026-06-02
    days on market $89,000 Active 148 DOM
13. 2026-06-01
    days on market $89,000 Active 147 DOM
14. 2026-05-31
    days on market $89,000 Active 146 DOM
15. 2026-05-30
    days on market $89,000 Active 145 DOM
16. 2026-03-11
    price $89,000
17. 2026-01-05
    listed $92,000 Active
18. 2026-01-02
    historical
19. 2025-12-16
    price $92,000
20. 2025-09-15
    price $94,000
21. 2025-08-01
    listed $98,000 Active
22. 2023-10-13
    soldstatus $87,500 Closed 1042-char remark

    Show marketing remark (1042 chars)

    Exclusively available in charming River Meadows, this 3-bedroom split floorplan residence boasts an inviting layout, with an open kitchen seamlessly flowing into the living area. Essential appliances, excluding the freezer, are thoughtfully included. The generously sized bedrooms include a private primary suite, and two full bathrooms for convenience. The home showcases excellent upkeep, benefiting from central A/C and the presence of all blinds. Don't miss the handy storage shed outside. Experience the tranquility of this location with a monthly lot rent of $575, covering water, sewer, trash, and an array of HOA amenities such as green spaces, basketball courts, and a playground. Maintaining the lawn around the home is a requirement for the owner, ensuring the overall appeal of the property. Detailed information can be found on the River Meadow’s website. Prospective buyers need to undergo an application and approval process by the Manufactured Home Park (MHP) for purchase eligibility. Available to owner occupants only.

23. 2023-08-23
    price $95,000 1042-char remark

    Show marketing remark (1042 chars)

    Exclusively available in charming River Meadows, this 3-bedroom split floorplan residence boasts an inviting layout, with an open kitchen seamlessly flowing into the living area. Essential appliances, excluding the freezer, are thoughtfully included. The generously sized bedrooms include a private primary suite, and two full bathrooms for convenience. The home showcases excellent upkeep, benefiting from central A/C and the presence of all blinds. Don't miss the handy storage shed outside. Experience the tranquility of this location with a monthly lot rent of $575, covering water, sewer, trash, and an array of HOA amenities such as green spaces, basketball courts, and a playground. Maintaining the lawn around the home is a requirement for the owner, ensuring the overall appeal of the property. Detailed information can be found on the River Meadow’s website. Prospective buyers need to undergo an application and approval process by the Manufactured Home Park (MHP) for purchase eligibility. Available to owner occupants only.

24. 2023-08-14
    listed $99,900 Active 1042-char remark

    Show marketing remark (1042 chars)

    Exclusively available in charming River Meadows, this 3-bedroom split floorplan residence boasts an inviting layout, with an open kitchen seamlessly flowing into the living area. Essential appliances, excluding the freezer, are thoughtfully included. The generously sized bedrooms include a private primary suite, and two full bathrooms for convenience. The home showcases excellent upkeep, benefiting from central A/C and the presence of all blinds. Don't miss the handy storage shed outside. Experience the tranquility of this location with a monthly lot rent of $575, covering water, sewer, trash, and an array of HOA amenities such as green spaces, basketball courts, and a playground. Maintaining the lawn around the home is a requirement for the owner, ensuring the overall appeal of the property. Detailed information can be found on the River Meadow’s website. Prospective buyers need to undergo an application and approval process by the Manufactured Home Park (MHP) for purchase eligibility. Available to owner occupants only.

ⓘ 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: $306 · $26/mo
• Projected year-2 tax: $490 · $41/mo
• Expected delta: +$183/yr (+$15/mo · 59.8%)

ⓘ 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: $22,433
• − Mortgage interest: −$4,985
• − Property taxes: −$306
• − Insurance: −$5,564
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$2,589
• Taxable income: $5,400
• Est. tax owed @ 24.0%: −$1,296
• After-tax cash flow: $4,956/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

-10.9% since first listed

9 events — show timeline

• 2026-03-11 Price Changed $89,000 cren
• 2026-01-05 Listed $92,000 cren
• 2026-01-02 Listing Removed — cren
• 2025-12-16 Price Changed $92,000 cren
• 2025-09-15 Price Changed $94,000 cren
• 2025-08-01 Listed $98,000 cren
• 2023-10-13 Sold (MLS) $87,500 cren
• 2023-08-23 Price Changed $95,000 cren
• 2023-08-14 Listed $99,900 cren

Property tax history

+4.7%/yr

Latest (2025): $306 · +315.2% YoY. Source: county tax records.