12 Hackamore

Granby, CO 80446

$396,398D-

6 bd · 9.0 ba · 1,023 sqft · Built 2025 · Manufactured · Active · 160 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,313/mo
• Mortgage (P&I): −$2,079
• Tax + insurance: −$661
• HOA: −$85
• Vac / Maint / Mgmt: −$696
• Net cashflow: $-207/mo
• Annual: $-2,484/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.24%
• DSCR: 0.90
• 1% rule: 0.84%
• Cash to close: $110,991

Investor read

• This is a 6-bed/9.0-bath manufactured listed at $396k.
• At list price, monthly cash flow is $-207 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $366k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $331k (16.4% below list).
• It's been on market 160 days — a 12% lower offer ($349k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $331k (16.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#85 in CO) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: commute D+, amenities F, health & safety F.
• East Grand School District No. 2 (rural): math 36% / reading 58% proficiency, ranked #17 of 86 in CO (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 424 active listings in the ZIP; 294 units permitted in Grand County in 2024 (82 in 5+ unit buildings).
• Grand County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 5.7% vs local median 1.4% in Granby — 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.
• At $3,313/mo this rent would consume 53% of the median local household income ($75k/yr) (locally 105% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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?
• It's been on market 160 days. Have you received any prior offers? Is the seller open to a 16% 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.
• 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.