11 Lea Ln · Westcliffe, CO 81252

$75,000

3 bd · 3.0 ba · 938 sqft · Manufactured public records · 142 Days on market

Built 2017 Good condition 3,484 sqft lot $80/sqft · 78% below area $350/mo HOA · 18% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located within walking distance of the downtown shopping district of Westcliffe Colorado, this 2017 Mobile Home, containing 2 bedrooms and 2 full baths is priced as affordable as can be found. The current owner is the only person to ever occupy the Unit, it is in very good condition. Lot rent is currently $350 a month which includes water/sewer & trash. Located in the Lea Lane Mobile Home Park, you will be able to hear the concerts on selected Sundays at the Feedstore amphitheater during the summertime along with the music from the High Mountain Hay Fever Bluegrass Festival during July. Miles of trails in the Majestic Sangre de Cristo Mountains and the Wet Mountains will provide you with access to days of Rocky Mountain Recreation whether you travel by ATV, UTV, Horse, Bike or your own two feet. Whether you are looking for a year round abode or a summer time getaway, you will be hard pressed to find a better deal.

Key facts

• 3,484 sq ft lot
• 2 parking spots
• Built 2017

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $75k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $672 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.0% vs local median 2.4% in Westcliffe — 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 73/100 on livability (#48 in CO) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools C-, employment C-, crime F.
• Custer County School District Consolidate 1 (rural): math 30% / reading 50% proficiency, ranked #55 of 176 in CO (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 281 active listings in the ZIP; 117 units permitted in Custer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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.
• Current owner paid $60k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 2.60% ✓
• Cap rate: 17.04%
• Cash-on-cash: 38.38%
• DSCR: 2.71
• GRM: 3.2

CMA / ARV

• ARV (median comp): $339,596
• List price: $75,000
• Delta: -77.91%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Lea Ln	0.10mi	2/2.0 (-1)	938 (0%)	11mo	$75,000	$80	78
4 Lea Ln #4	0.10mi	2/2.0 (-1)	930 (-1%)	11mo	$75,000	$81	76

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: 34.7%
• Equity multiple: 2.47×
• Total profit: $30,868
• Equity at exit: $11,183

10-year hold

• IRR: 41.6%
• Equity multiple: 4.95×
• Total profit: $82,954
• Equity at exit: $6,485

Cash invested: $21,000 (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 81252

• Home prices YoY: -11.3%
• Active inventory: 281
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,949 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$350
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $672

Break-even live

Break-even rent $1,099

Max offer price $75,000

Occupancy floor 61%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $350 · $4,200/yr
• Likely covers: watersewertrash

Listing history 23 events

1. 2026-06-19
   days on market $75,000 Active 142 DOM
2. 2026-06-18
   days on market $75,000 Active 141 DOM
3. 2026-06-17
   days on market $75,000 Active 140 DOM
4. 2026-06-16
   days on market $75,000 Active 139 DOM
5. 2026-06-15
   days on market $75,000 Active 138 DOM
6. 2026-06-14
   days on market $75,000 Active 136 DOM
7. 2026-06-12
   days on market $75,000 Active 135 DOM
8. 2026-06-09
   days on market $75,000 Active 132 DOM
9. 2026-06-08
   days on market $75,000 Active 131 DOM
10. 2026-06-07
    days on market $75,000 Active 130 DOM
11. 2026-06-05
    days on market $75,000 Active 127 DOM
12. 2026-06-03
    days on market $75,000 Active 126 DOM
13. 2026-06-03
    price $75,000 Active 125 DOM
14. 2026-06-02
    days on market $78,000 Active 125 DOM
15. 2026-06-01
    days on market $78,000 Active 124 DOM
16. 2026-05-31
    days on market $78,000 Active 123 DOM
17. 2026-05-30
    days on market $78,000 Active 122 DOM
18. 2026-01-28
    listed $78,000 Active 944-char remark

    Show marketing remark (948 chars)

    Conveniently located within walking distance of the downtown shopping district of Westcliffe Colorado, this 2017 Mobile Home, containing 2 bedrooms and 2 full bath, s is priced as affordable as can be found. The current owner is the only person to ever occupy the Unit, it is in very good condition. Lot rent is currently $350 a month which includes water/sewer & trash. Located in the Lea Lane Mobile Home Park, you will be able to hear the concerts on selected Sundays at the Feedstore amphitheater during the summertime along with the music from the High Mountain Hay Fever Bluegrass Festival during July. Miles of trails in the Majestic Sangre de Cristo Mountains and the Wet Mountains will provide you with access to days of Rocky Mountain Recreation whether you travel by ATV, UTV, Horse, Bike or your own two feet. Whether you are looking for a year round abode or a summer time getaway, you will be hard pressed to find a better deal.

19. 2026-01-28
    listed $78,000 Active 944-char remark

    Show marketing remark (948 chars)

    Conveniently located within walking distance of the downtown shopping district of Westcliffe Colorado, this 2017 Mobile Home, containing 2 bedrooms and 2 full bath, s is priced as affordable as can be found. The current owner is the only person to ever occupy the Unit, it is in very good condition. Lot rent is currently $350 a month which includes water/sewer & trash. Located in the Lea Lane Mobile Home Park, you will be able to hear the concerts on selected Sundays at the Feedstore amphitheater during the summertime along with the music from the High Mountain Hay Fever Bluegrass Festival during July. Miles of trails in the Majestic Sangre de Cristo Mountains and the Wet Mountains will provide you with access to days of Rocky Mountain Recreation whether you travel by ATV, UTV, Horse, Bike or your own two feet. Whether you are looking for a year round abode or a summer time getaway, you will be hard pressed to find a better deal.

20. 2026-01-28
    listed $78,000 Active 948-char remark

    Show marketing remark (948 chars)

    Conveniently located within walking distance of the downtown shopping district of Westcliffe Colorado, this 2017 Mobile Home, containing 2 bedrooms and 2 full bath, s is priced as affordable as can be found. The current owner is the only person to ever occupy the Unit, it is in very good condition. Lot rent is currently $350 a month which includes water/sewer & trash. Located in the Lea Lane Mobile Home Park, you will be able to hear the concerts on selected Sundays at the Feedstore amphitheater during the summertime along with the music from the High Mountain Hay Fever Bluegrass Festival during July. Miles of trails in the Majestic Sangre de Cristo Mountains and the Wet Mountains will provide you with access to days of Rocky Mountain Recreation whether you travel by ATV, UTV, Horse, Bike or your own two feet. Whether you are looking for a year round abode or a summer time getaway, you will be hard pressed to find a better deal.

21. 2026-01-27
    historical $78,000 944-char remark

    Show marketing remark (944 chars)

    Conveniently located within walking distance of the downtown shopping district of Westcliffe Colorado, this 2017 Mobile Home, containing 2 bedrooms and 2 full baths is priced as affordable as can be found. The current owner is the only person to ever occupy the Unit, it is in very good condition. Lot rent is currently $350 a month which includes water/sewer & trash. Located in the Lea Lane Mobile Home Park, you will be able to hear the concerts on selected Sundays at the Feedstore amphitheater during the summertime along with the music from the High Mountain Hay Fever Bluegrass Festival during July. Miles of trails in the Majestic Sangre de Cristo Mountains and the Wet Mountains will provide you with access to days of Rocky Mountain Recreation whether you travel by ATV, UTV, Horse, Bike or your own two feet. Whether you are looking for a year round abode or a summer time getaway, you will be hard pressed to find a better deal.

22. 2019-09-12
    soldstatus $59,900
23. 2018-11-27
    listed $59,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $23,391
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − HOA: −$4,200
• − Depreciation: −$2,182
• Taxable income: $7,566
• Est. tax owed @ 24.0%: −$1,816
• After-tax cash flow: $6,244/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 · 12 photos

Good 75/100 Cosmetic rehab

This 2017 manufactured home is in good condition with minor repairs needed. Fresh paint and updated cabinets would significantly enhance its curb appeal and interior aesthetics, making it more attractive for both resale and rental.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom fixtures — Dated appearance
• Minor Living area carpet — Worn appearance

Value-add opportunities

• Both Paint fresh coat — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn kitchen cabinets — New cabinets improve functionality and aesthetics
• Both Landscaping — Landscaping enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Dated appearance	Minor	$500–3,000
Living area carpet · Worn appearance	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint fresh coat — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn kitchen cabinets — New cabinets improve functionality and aesthetics ↑
• Both Landscaping — Landscaping enhances curb appeal 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: Custer County School District Consolidate 1
• NCES district ID: 0807200
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $38,757
• Composite: 35.81/100
• National rank: #9620
• State rank: #55 of 176 in CO

Livability — Westcliffe

• Score: 73/100
• State rank: #48
• US rank: #5160

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westcliffe, CO
• Population (ZIP): 4,413

Population outlook (Custer County) Hauer SSP2

• Today (2025): 4,686 people
• By 2030: 4,760 · +1.6%
• By 2040: 4,743 · +1.2%
• By 2050: 4,667 · -0.4%
• By 2075: 4,702 · +0.3%
• By 2100: 4,569 · -2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 4% Italian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Custer

• 2024 margin: Solid R (+36.1) · D 30.7% · R 66.8% · Other 2.5%
• 2008→2024 swing: -7.2pp toward R · 2008: -28.9pp · 2024: -36.1pp
• All cycles: 2024: R+36.1 2020: R+37.5 2016: R+41.2 2012: R+33.9 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.35%
• Current HPI: 252.8606
• Rent YoY: —
• Metro: —
• 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

+30.2% since first listed

6 events — show timeline

• 2026-01-28 Listed $78,000 IRES
• 2026-01-28 Listed $78,000 REColorado as Distributed by MLS Grid
• 2026-01-28 Listed $78,000 RGAR
• 2026-01-27 Coming Soon $78,000 REColorado as Distributed by MLS Grid
• 2019-09-12 Sold (MLS) $59,900 PARMLS
• 2018-11-27 Listed $59,900 PARMLS