0189 Ten Mile Cir Unit 231/233

Copper Mountain, CO 80443

$8,900C-

2 bd · 3.0 ba · 1,218 sqft · Built 1982 · Timeshare · Active · 548 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,122/mo
• Mortgage (P&I): −$47
• Tax + insurance: −$15
• HOA: −$67
• Vac / Maint / Mgmt: −$656
• Net cashflow: $2,338/mo
• Annual: $28,051/yr
• Cap rate: 321.47%
• Cash-on-cash: 1125.64%
• DSCR: 51.08
• 1% rule: 35.07%
• Cash to close: $2,492

Investor read

• This is a 2-bed/3.0-bath timeshare listed at $9k.
• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $9k).
• It's been on market 548 days — a 12% lower offer ($8k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $8k (12.0% below list) — sets the bar for market timing.
• In year one you build about $344 of equity ($62 loan paydown + $282 appreciation (3.2% local appreciation)).
• Location reads 65/100 on livability (#164 in CO) — a middle-class / working-renter tenant base. Strengths: crime A, employment B+, health & safety B+; Watch: cost of living C-, amenities F, commute 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.
• 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.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $1k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 321.5% vs local median 1.4% in Copper Mountain — 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 34% 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 548 days. Have you received any prior offers? Is the seller open to a 12% 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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 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.