42703 Hwy 82 Unit B · Aspen, CO 81611

$10,950,000

5 bd · 6.0 ba · 3,507 sqft · Condo public records · 351 Days on market

Built 2010 $3122/sqft · 17% below area Est $15630k · 30% under $25/mo HOA

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome to The Silver Pine, an elegant mountain retreat just 1.2 miles from downtown Aspen. Tucked away in one of Aspen's most desirable neighborhoods, surrounded by pine trees, this luxurious 4,154-square-foot half-duplex townhome with breathtaking views of the Preserve and Independence Pass. Designed with comfort and sophistication in mind, Silver Pine features 5 spacious bedrooms and 6 bathrooms, highlighted by soaring vaulted ceilings with exposed wood beam trusses, rich hardwood flooring, and a warm gas fireplace. The main-level primary suite provides ease and privacy, while the gourmet kitchen and expansive covered deck create the perfect setting for entertaining. Unwind in the rooftop hot tub with sweeping mountain vistas or relax in the separate lower-level family room—ideal for guests or quiet evenings. Additionally, Silver Pine includes radiant floor heating, central air conditioning, a two-car attached garage, a snowmelt driveway, and beautifully landscaped grounds. Just minutes from downtown Aspen, you can easily walk or bike into town via the scenic East Aspen Trail—perfect for walking or biking into town while avoiding summer traffic Own a piece of Aspen's most sought-after locations and experience the best of luxury living in this private mountain haven.

Key facts

• Radiant floor heat
• Roof top hot tub
• Gourmet kitchen

Tags

• PRIVATE HALF DUPLEX TOWNHOME
• GOURMET KITCHEN
• LARGE-COVERED DECK
• ROOF TOP HOT TUB
• SEPARATE FAMILY ROOM
• RADIANT FLOOR HEAT

What this means for you Summary

Snapshot

• This is a 5-bed/6.0-bath condo listed at $10.95M.

Deal economics

• At list price, monthly cash flow is $-67k ($-804k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.26M (88.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.10M (89.9% below list).
• Recommended offer: $1.10M (89.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#142 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, schools B+; Watch: amenities F, cost of living F, health & safety F.
• Aspen School District No. 1 In The County Of Pitkin And Sta (rural): math 36% / reading 56% proficiency, ranked #18 of 86 in CO (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+22.1%/yr); 324 active listings in the ZIP; solid renter incomes; 145 units permitted in Pitkin County in 2024 (89 in 5+ unit buildings).
• At $11,031/mo this rent would consume 160% of the median local household income ($83k/yr) (locally 566% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $1.17M of equity ($76k loan paydown + $1.09M appreciation (10.0% local appreciation)).
• Pitkin County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$1.88M cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 351 days — a 12% lower offer ($9.64M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $3.50M; list at $10.95M implies a 213% gain — meaningful room to come down on a strong offer.

Recommended offer $1,103,099 (89.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 351 days. Have you received any prior offers? Is the seller open to a 90% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.10% ✗
• Cap rate: -1.05%
• Cash-on-cash: -26.22%
• DSCR: -0.17
• GRM: 82.7

CMA / ARV

• ARV (median comp): $15,629,704
• List price: $10,950,000
• Delta: -29.94%
• Verdict: UNDERPRICED
• Comps: 15 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.57×
• Total profit: $1,755,923
• Equity at exit: $9,864,628

10-year hold

• IRR: 9.3%
• Equity multiple: 3.83×
• Total profit: $8,670,607
• Equity at exit: $21,273,442

Cash invested: $3,066,000 (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 81611

• Home prices YoY: 3.6%
• Rents YoY: 22.1%
• Active inventory: 324
• Price-to-rent: 82.7×

Monthly cashflow live

• Estimated rent: $11,031 medium
• Mortgage (P&I): −$57,423
• Tax est. 1.5%: −$13,688 /mo · $164,250/yr
• Insurance: −$4,562
• HOA: −$25
• Vacancy / Maint / Mgmt: −$2,317
• Net cashflow: $-66,984

Break-even live

Break-even rent $95,820

Max offer price $1,257,382

Occupancy floor —

Sensitivity live

Price	-10% $-59,416	-5% $-63,200	+0% $-66,984	+5% $-70,767	+10% $-74,551
Rent	-10% $-67,855	-5% $-67,419	+0% $-66,984	+5% $-66,548	+10% $-66,112
Rate	-1.0pp $-61,469	-0.5pp $-64,198	base $-66,984	+0.5pp $-69,821	+1.0pp $-72,708

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: $2,737,500
• Closing costs: $328,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $25 · $300/yr
• Likely covers: gaslandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-19
   days on market $10,950,000 Active 351 DOM
2. 2026-06-18
   days on market $10,950,000 Active 350 DOM
3. 2026-06-17
   days on market $10,950,000 Active 349 DOM
4. 2026-06-16
   days on market $10,950,000 Active 348 DOM
5. 2026-06-15
   days on market $10,950,000 Active 347 DOM
6. 2026-06-14
   days on market $10,950,000 Active 345 DOM
7. 2026-06-12
   days on market $10,950,000 Active 344 DOM
8. 2026-06-09
   days on market $10,950,000 Active 341 DOM
9. 2026-06-08
   days on market $10,950,000 Active 340 DOM
10. 2026-06-07
    days on market $10,950,000 Active 339 DOM
11. 2026-06-05
    days on market $10,950,000 Active 336 DOM
12. 2026-06-02
    days on market $10,950,000 Active 334 DOM
13. 2026-06-01
    days on market $10,950,000 Active 333 DOM
14. 2026-05-31
    days on market $10,950,000 Active 332 DOM
15. 2026-05-30
    days on market $10,950,000 Active 331 DOM
16. 2026-02-03
    price $10,950,000 1310-char remark

    Show marketing remark (1310 chars)

    Welcome to The Silver Pine, an elegant mountain retreat just 1.2 miles from downtown Aspen. Tucked away in one of Aspen's most desirable neighborhoods, surrounded by pine trees, this luxurious 4,154-square-foot half-duplex townhome with breathtaking views of the Preserve and Independence Pass. Designed with comfort and sophistication in mind, Silver Pine features 5 spacious bedrooms and 6 bathrooms, highlighted by soaring vaulted ceilings with exposed wood beam trusses, rich hardwood flooring, and a warm gas fireplace. The main-level primary suite provides ease and privacy, while the gourmet kitchen and expansive covered deck create the perfect setting for entertaining. Unwind in the rooftop hot tub with sweeping mountain vistas or relax in the separate lower-level family room—ideal for guests or quiet evenings. Additionally, Silver Pine includes radiant floor heating, central air conditioning, a two-car attached garage, a snowmelt driveway, and beautifully landscaped grounds. Just minutes from downtown Aspen, you can easily walk or bike into town via the scenic East Aspen Trail—perfect for walking or biking into town while avoiding summer traffic Own a piece of Aspen's most sought-after locations and experience the best of luxury living in this private mountain haven.

17. 2025-08-08
    price $11,500,000 1310-char remark

    Show marketing remark (1310 chars)

    Welcome to The Silver Pine, an elegant mountain retreat just 1.2 miles from downtown Aspen. Tucked away in one of Aspen's most desirable neighborhoods, surrounded by pine trees, this luxurious 4,154-square-foot half-duplex townhome with breathtaking views of the Preserve and Independence Pass. Designed with comfort and sophistication in mind, Silver Pine features 5 spacious bedrooms and 6 bathrooms, highlighted by soaring vaulted ceilings with exposed wood beam trusses, rich hardwood flooring, and a warm gas fireplace. The main-level primary suite provides ease and privacy, while the gourmet kitchen and expansive covered deck create the perfect setting for entertaining. Unwind in the rooftop hot tub with sweeping mountain vistas or relax in the separate lower-level family room—ideal for guests or quiet evenings. Additionally, Silver Pine includes radiant floor heating, central air conditioning, a two-car attached garage, a snowmelt driveway, and beautifully landscaped grounds. Just minutes from downtown Aspen, you can easily walk or bike into town via the scenic East Aspen Trail—perfect for walking or biking into town while avoiding summer traffic Own a piece of Aspen's most sought-after locations and experience the best of luxury living in this private mountain haven.

18. 2025-07-03
    listed $11,750,000 Active 1310-char remark

    Show marketing remark (1310 chars)

    Welcome to The Silver Pine, an elegant mountain retreat just 1.2 miles from downtown Aspen. Tucked away in one of Aspen's most desirable neighborhoods, surrounded by pine trees, this luxurious 4,154-square-foot half-duplex townhome with breathtaking views of the Preserve and Independence Pass. Designed with comfort and sophistication in mind, Silver Pine features 5 spacious bedrooms and 6 bathrooms, highlighted by soaring vaulted ceilings with exposed wood beam trusses, rich hardwood flooring, and a warm gas fireplace. The main-level primary suite provides ease and privacy, while the gourmet kitchen and expansive covered deck create the perfect setting for entertaining. Unwind in the rooftop hot tub with sweeping mountain vistas or relax in the separate lower-level family room—ideal for guests or quiet evenings. Additionally, Silver Pine includes radiant floor heating, central air conditioning, a two-car attached garage, a snowmelt driveway, and beautifully landscaped grounds. Just minutes from downtown Aspen, you can easily walk or bike into town via the scenic East Aspen Trail—perfect for walking or biking into town while avoiding summer traffic Own a piece of Aspen's most sought-after locations and experience the best of luxury living in this private mountain haven.

19. 2012-09-17
    soldstatus $3,500,000 366-char remark

    Show marketing remark (366 chars)

    Overlooking the Preserve and River with stunning views of Independence Pass, this custom, designer furnished half duplex lives very private. Main floor master, gourmet kitchen, high end electronics. Panoramic roof top deck with Jacuzzi and music. Huge covered deck for year round enjoyment w Pass views. On the quiet side of town yet only one mile from City Market.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 10 d/yr ≥78°F today · 26 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $132,372
• − Mortgage interest: −$613,370
• − Property taxes: −$164,250
• − Insurance: −$54,750
• − Repairs & maintenance: −$10,590
• − Management: −$10,590
• − HOA: −$300
• − Depreciation: −$318,545
• Taxable loss: −$1,040,023
• Est. tax savings @ 24.0%: +$249,606
• After-tax cash flow: $-554,197/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: Aspen School District No. 1 In The County Of Pitkin And Sta
• NCES district ID: 0802280
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $66,694
• Composite: 40.98/100
• National rank: #3595
• State rank: #18 of 86 in CO

Livability — Aspen

• Score: 66/100
• State rank: #142
• US rank: #11780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pitkin County · 9,068 people
• City population: 9,068
• Metro: Glenwood Springs, CO
• Population (ZIP): 9,068
• Household income: $82,664
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 566.0

Population outlook (Pitkin County) Hauer SSP2

• Today (2025): 20,121 people
• By 2030: 21,110 · +4.9%
• By 2040: 22,707 · +12.9%
• By 2050: 24,105 · +19.8%
• By 2075: 27,933 · +38.8%
• By 2100: 30,018 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Salvadoran 4%
• Common ancestry: Slovak 3% Iranian 3% Romanian 3%
• Foreign-born: 15% · Canada, Dominican Republic, China
• Languages at home: 82% English-only · Spanish 9% Other Indo-European 2% Chinese 2%

Political lean MEDSL · Pitkin

• 2024 margin: Solid D (+44.2) · D 71.0% · R 26.8% · Other 2.2%
• 2008→2024 swing: -4.6pp toward R · 2008: 48.8pp · 2024: 44.2pp
• All cycles: 2024: D+44.2 2020: D+51.9 2016: D+45.4 2012: D+37.9 2008: D+48.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.97%
• Current HPI: 370.9593
• Rent YoY: ▲ 22.07%
• Metro: Glenwood Springs, 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

+212.9% since first listed

4 events — show timeline

• 2026-02-03 Price Changed $10,950,000 AGMLS
• 2025-08-08 Price Changed $11,500,000 AGMLS
• 2025-07-03 Listed $11,750,000 AGMLS
• 2012-09-17 Sold (MLS) $3,500,000 AGMLS

Property tax history

+8.4%/yr

Latest (2025): $14,417 · -33.9% YoY. Source: county tax records.