3231 Lakeside Dr #106 · Grand Junction, CO 81506

$162,500

1 bd · 1.0 ba · 695 sqft · Condo public records · 112 Days on market

Built 1977

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +5.2/30.0
• Livability +4.0/5.0
• 1% rule +2.8/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Value Alert: The Best Price in the Horizon Drive Corridor! Stop paying for someone else’s design choices and start with a clean slate. This modest garden-level unit at Lakeside is perfect for the buyer who appreciates a solid value and a killer location. Tucked just four steps down for added privacy and natural cooling, this unit offers a "lock-and-leave" setup that is as functional as it is affordable. Walk to premium shopping, bike to Downtown, or hop on a flight in minutes. With a private patio and a dedicated parking spot, this is the smartest way to get into one of the city's most convenient areas. Live in it as-is, or bring your paint swatches and build instant equity!

Key facts

• Green space
• Quick nearby parking
• Private patio

Tags

• PRIVATE PATIO
• QUICK NEARBY PARKING
• EXCEPTIONAL STORAGE
• EFFICIENT LAYOUT
• GREEN SPACE

Property features AI

Finance

• HOA & community: Members of the Lakeside homeowners association; Community clubhouse, fitness center, pool and tennis courts; Pets allowed

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; High-speed internet available; Cable available; Cellular phone reception
• Home design: Single-story residence; Single-family use
• Construction: Wood siding with wood frame construction; Asphalt, membrane and metal roofing; Slab foundation; Built with living space above grade
• Exterior features: Patio; Paved road access; Community pool

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator
• Bedrooms: Primary bedroom on the main level
• Flooring: Partially carpeted; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Evaporative cooling; Baseboard heating; Natural gas heating
• Interior features: Window coverings and treatments; Living/Dining room; Main level primary

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $162k.

Deal economics

• At list price, monthly cash flow is $-366 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (21.9% below list).
• Recommended offer: $127k (21.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#15 in CO, #2,222 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A; Watch: schools D+, employment D+, crime F.
• Mesa County Valley School District No. 51 (suburban): math 26% / reading 38% proficiency, ranked #43 of 86 in CO (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 165 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,014 units permitted in Mesa County in 2024 (240 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y 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: HOA is 30% of rent.

Recommended offer $126,896 (21.9% 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 112 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.78% ✗
• Cap rate: 3.59%
• Cash-on-cash: -9.66%
• DSCR: 0.57
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -33.4%
• Equity multiple: -0.09×
• Total profit: $-49,479
• Equity at exit: $24,229

10-year hold

• IRR: -39.9%
• Equity multiple: -0.59×
• Total profit: $-72,420
• Equity at exit: $14,050

Cash invested: $45,500 (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 81506

• Active inventory: 165
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,269 high
• Mortgage (P&I): −$852
• Tax from tax record: −$67 /mo · $801/yr
• Insurance: −$68
• HOA est. from 6 same-building comps: −$382
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $-366

Break-even live

Break-even rent $1,732

Max offer price $97,826

Occupancy floor —

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: $40,625
• Closing costs: $4,875
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1260 Bookcliff Ave Grand Junction, CO	2.0	1.0–2.0	681	$1,625	$2.39	21d	1	0.72mi
704 Horizon Dr Unit 130 Grand Junction, CO	1.0	1.0	350	$795	$2.27	21d	1	0.91mi
704 Horizon Dr Grand Junction, CO	1.0	1.0	325	$770	$2.37	13d	5	0.91mi
1717 Cannell Ave Grand Junction, CO	1.0	1.0	644	$1,310	$2.03	13d	1	1.05mi
1368 Elm Ave Grand Junction, CO	2.0	1.0	750	$1,100	$1.47	13d	1	1.21mi
1615 N 20th St Unit A Grand Junction, CO	1.0	1.0	700	$1,550	$2.21	13d	1	1.32mi
1302 Glenwood Ave Unit 104 Grand Junction, CO	2.0	1.0	654	$1,200	$1.83	13d	1	1.38mi
1302 Glenwood Ave Unit 104 Grand Junction, CO	2.0	1.0	654	$1,200	$1.83	21d	1	1.38mi
1425 Bunting Ave Grand Junction, CO	1.0	1.0	636	$1,295	$2.04	21d	1	1.38mi
1510 Glenwood Ave Unit 100 Grand Junction, CO	1.0	1.0	555	$860	$1.55	13d	1	1.42mi
1510 Glenwood Ave Unit 202 Grand Junction, CO	1.0	1.0	555	$860	$1.55	13d	1	1.42mi
2764 Crossroads Blvd Grand Junction, CO	1.0	1.0	650	$1,295	$1.99	21d	1	1.45mi
1600 North Ave Unit 217 Grand Junction, CO	1.0	1.0	360	$595	$1.65	13d	1	1.47mi
1600 North Ave Unit 134 Grand Junction, CO	1.0	1.0	360	$795	$2.21	21d	1	1.47mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-19
   days on market $162,500 Active 112 DOM
2. 2026-06-18
   days on market $162,500 Active 111 DOM
3. 2026-06-17
   days on market $162,500 Active 110 DOM
4. 2026-06-16
   days on market $162,500 Active 109 DOM
5. 2026-06-15
   days on market $162,500 Active 108 DOM
6. 2026-06-14
   days on market $162,500 Active 106 DOM
7. 2026-06-13
   days on market $162,500 Active 105 DOM
8. 2026-06-10
   days on market $162,500 Active 103 DOM
9. 2026-06-09
   days on market $162,500 Active 102 DOM
10. 2026-06-08
    days on market $162,500 Active 101 DOM
11. 2026-06-07
    days on market $162,500 Active 100 DOM
12. 2026-06-05
    days on market $162,500 Active 97 DOM
13. 2026-06-02
    days on market $162,500 Active 95 DOM
14. 2026-06-01
    days on market $162,500 Active 94 DOM
15. 2026-05-31
    days on market $162,500 Active 93 DOM
16. 2026-05-30
    days on market $162,500 Active 92 DOM
17. 2026-02-24
    listed $162,500 Active
18. 2026-02-18
    listed $162,500 Active 699-char remark

    Show marketing remark (699 chars)

    Value Alert: The Best Price in the Horizon Drive Corridor! Stop paying for someone else’s design choices and start with a clean slate. This modest garden-level unit at Lakeside is perfect for the buyer who appreciates a solid value and a killer location. Tucked just four steps down for added privacy and natural cooling, this unit offers a "lock-and-leave" setup that is as functional as it is affordable. Walk to premium shopping, bike to Downtown, or hop on a flight in minutes. With a private patio and a dedicated parking spot, this is the smartest way to get into one of the city's most convenient areas. Live in it as-is, or bring your paint swatches and build instant equity!

19. 2023-06-23
    soldstatus $148,000 Closed 562-char remark

    Show marketing remark (562 chars)

    Great Lock & Leave Condo that is centrally located to everything - airport, hospitals, shopping, parks, walking/biking trails, I-70.. .the list goes on. This wonderful 1 bed, 1 bath unit is on the garden level & has been meticulously maintained. All kitchen appliances are included. You also have access to the community pool, hot tub, fitness area, laundry, community rooms & designated parking. HOA dues include water, sewer, gas, building maintenance, landscaping & snow removal. Great private east facing patio to enjoy your evenings.

20. 2023-05-18
    status Pending 562-char remark

    Show marketing remark (562 chars)

    Great Lock & Leave Condo that is centrally located to everything - airport, hospitals, shopping, parks, walking/biking trails, I-70.. .the list goes on. This wonderful 1 bed, 1 bath unit is on the garden level & has been meticulously maintained. All kitchen appliances are included. You also have access to the community pool, hot tub, fitness area, laundry, community rooms & designated parking. HOA dues include water, sewer, gas, building maintenance, landscaping & snow removal. Great private east facing patio to enjoy your evenings.

21. 2023-05-11
    status Active 562-char remark

    Show marketing remark (562 chars)

    Great Lock & Leave Condo that is centrally located to everything - airport, hospitals, shopping, parks, walking/biking trails, I-70.. .the list goes on. This wonderful 1 bed, 1 bath unit is on the garden level & has been meticulously maintained. All kitchen appliances are included. You also have access to the community pool, hot tub, fitness area, laundry, community rooms & designated parking. HOA dues include water, sewer, gas, building maintenance, landscaping & snow removal. Great private east facing patio to enjoy your evenings.

22. 2023-04-24
    status Pending 562-char remark

    Show marketing remark (562 chars)

    Great Lock & Leave Condo that is centrally located to everything - airport, hospitals, shopping, parks, walking/biking trails, I-70.. .the list goes on. This wonderful 1 bed, 1 bath unit is on the garden level & has been meticulously maintained. All kitchen appliances are included. You also have access to the community pool, hot tub, fitness area, laundry, community rooms & designated parking. HOA dues include water, sewer, gas, building maintenance, landscaping & snow removal. Great private east facing patio to enjoy your evenings.

23. 2023-04-10
    listed $145,000 Active 562-char remark

    Show marketing remark (562 chars)

    Great Lock & Leave Condo that is centrally located to everything - airport, hospitals, shopping, parks, walking/biking trails, I-70.. .the list goes on. This wonderful 1 bed, 1 bath unit is on the garden level & has been meticulously maintained. All kitchen appliances are included. You also have access to the community pool, hot tub, fitness area, laundry, community rooms & designated parking. HOA dues include water, sewer, gas, building maintenance, landscaping & snow removal. Great private east facing patio to enjoy your evenings.

24. 2020-08-05
    soldstatus $105,500
25. 2020-07-31
    soldstatus $105,500
26. 2020-04-27
    listed $107,000
27. 2009-05-18
    soldstatus $97,500
28. 2009-05-15
    soldstatus $97,500
29. 2009-03-19
    listed $97,500
30. 2005-10-20
    soldstatus $70,500
31. 2005-10-19
    soldstatus $70,500
32. 2005-09-13
    listed $70,900
33. 2003-09-11
    soldstatus $54,900
34. 2002-10-07
    soldstatus $52,000
35. 2001-06-13
    soldstatus $47,000
36. 1992-10-30
    soldstatus $23,000

ⓘ 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: $801 · $67/mo
• Projected year-2 tax: $894 · $74/mo
• Expected delta: +$93/yr (+$8/mo · 11.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,228
• − Mortgage interest: −$9,103
• − Property taxes: −$801
• − Insurance: −$812
• − Repairs & maintenance: −$1,218
• − Management: −$1,218
• − HOA: −$4,584
• − Depreciation: −$4,727
• Taxable loss: −$7,236
• Est. tax savings @ 24.0%: +$1,737
• After-tax cash flow: $-2,657/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: Mesa County Valley School District No. 51
• NCES district ID: 0804350
• Math proficiency: 26% ▲ 1.00%
• Reading proficiency: 38% ▬ 0.00%
• Median HH income: $50,189
• Composite: 27.83/100
• National rank: #6884
• State rank: #43 of 86 in CO

Livability — Grand Junction

• Score: 79/100
• State rank: #15
• US rank: #2222

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Junction, CO
• County: Mesa County · 143,088 people
• City population: 113,583
• Metro: Grand Junction, CO
• Population (ZIP): 11,412
• Household income: $78,651
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 459.0

Population outlook (Mesa County) Hauer SSP2

• Today (2025): 153,000 people
• By 2030: 154,479 · +1.0%
• By 2040: 155,257 · +1.5%
• By 2050: 153,384 · +0.3%
• By 2075: 144,735 · -5.4%
• By 2100: 123,825 · -19.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 5% Portuguese 4% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Mesa

• 2024 margin: Strong R (+24.3) · D 36.6% · R 61.0% · Other 2.4%
• 2008→2024 swing: +5.2pp toward D · 2008: -29.5pp · 2024: -24.3pp
• All cycles: 2024: R+24.3 2020: R+28.0 2016: R+36.3 2012: R+32.8 2008: R+29.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -315.41%
• Current HPI: 287.3975
• Rent YoY: —
• Metro: Grand Junction, 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

+606.5% since first listed

20 events — show timeline

• 2026-02-24 Listed $162,500 cren
• 2026-02-18 Listed $162,500 GJARA
• 2023-06-23 Sold (MLS) $148,000 GJARA
• 2023-05-18 Pending — GJARA
• 2023-05-11 Relisted — GJARA
• 2023-04-24 Pending — GJARA
• 2023-04-10 Listed $145,000 GJARA
• 2020-08-05 Sold (Public Records) $105,500 Public Records
• 2020-07-31 Sold (MLS) $105,500 GJARA
• 2020-04-27 Listed $107,000 GJARA
• 2009-05-18 Sold (Public Records) $97,500 Public Records
• 2009-05-15 Sold (MLS) $97,500 cren
• 2009-03-19 Listed $97,500 cren
• 2005-10-20 Sold (Public Records) $70,500 Public Records
• 2005-10-19 Sold (MLS) $70,500 cren
• 2005-09-13 Listed $70,900 cren
• 2003-09-11 Sold (Public Records) $54,900 Public Records
• 2002-10-07 Sold (Public Records) $52,000 Public Records
• 2001-06-13 Sold (Public Records) $47,000 Public Records
• 1992-10-30 Sold (Public Records) $23,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $801 · +68.7% YoY. Source: county tax records.