102 Peak One Cir

Frisco, CO 80443

$163,643B+

2 bd · 2.0 ba · 867 sqft · Built 1997 · Condo · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,856/mo
• Mortgage (P&I): −$858
• Tax + insurance: −$113
• HOA: −$338
• Vac / Maint / Mgmt: −$600
• Net cashflow: $947/mo
• Annual: $11,362/yr
• Cap rate: 13.24%
• Cash-on-cash: 24.80%
• DSCR: 2.10
• 1% rule: 1.75%
• Cash to close: $45,820

Investor read

• This is a 2-bed/2.0-bath condo listed at $164k.
• At list price, monthly cash flow is $947 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $164k).
• It's been on market 34 days — a 3% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $159k (3.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.2% local appreciation)).
• Location reads 74/100 on livability (#40 in CO, #4,959 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety B+; Watch: amenities F, cost of living F.
• Summit School District No. RE-1 (rural): math 27% / reading 43% proficiency, ranked #35 of 86 in CO (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frisco Elementary School (math 34% / reading 47%, grade F, #342 of 966 statewide, top 36%, 232 students, 19% FRL); Summit Middle School (math 24% / reading 38%, grade F, #126 of 270 statewide, top 46%, 764 students, 38% FRL); Summit High School (math 37% / reading 62%, grade D, #115 of 381 statewide, top 34%, 1,132 students, 29% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: 173 active listings in the ZIP; solid renter incomes; 308 units permitted in Summit County in 2024 (123 in 5+ unit buildings).
• Summit County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 2y 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 $132k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 13.2% vs local median 0.9% in Frisco — 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.
• This rent runs 32% of the median local income ($109k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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 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.