17 Nellies Ct

Frisco, CO 80443

$320,196D-

1 bd · 1.0 ba · 548 sqft · Built 2025 · SingleFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,463/mo
• Mortgage (P&I): −$1,679
• Tax + insurance: −$534
• HOA: −$195
• Vac / Maint / Mgmt: −$517
• Net cashflow: $-462/mo
• Annual: $-5,544/yr
• Cap rate: 4.56%
• Cash-on-cash: -6.18%
• DSCR: 0.72
• 1% rule: 0.77%
• Cash to close: $89,655

Investor read

• This is a 1-bed/1.0-bath single-family listed at $320k.
• At list price, monthly cash flow is $-462 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (20.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (23.1% below list).
• It's been on market 18 days — a 2% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $246k (23.1% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($2k loan paydown + $10k 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: 180 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.
• 2 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.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 4.6% 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.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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 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.