1400 S Collyer St #301

Longmont, CO 80501

$59,999B+

2 bd · 1.0 ba · 840 sqft · Built 1974 · Manufactured · Active · 308 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,698/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $927/mo
• Annual: $11,121/yr
• Cap rate: 24.83%
• Cash-on-cash: 66.20%
• DSCR: 3.95
• 1% rule: 2.83%
• Cash to close: $16,800

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $60k.
• At list price, monthly cash flow is $927 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• It's been on market 308 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#24 in CO, #2,736 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, housing A+; Watch: crime F, cost of living F.
• St. Vrain Valley School District No. Re1J (suburban): math 32% / reading 51% proficiency, ranked #23 of 86 in CO (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Burlington Elementary School (math 24% / reading 42%, grade F, #458 of 966 statewide, top 48%, 334 students, 52% FRL); Niwot High School (math 51% / reading 71%, grade C+, #51 of 381 statewide, top 13%, 1,355 students, 26% FRL).
• Market conditions: Rents flat; 174 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,688 units permitted in Boulder County in 2024 (1,136 in 5+ unit buildings).
• Boulder County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 24.8% vs local median 2.6% in Longmont — 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

• It's been on market 308 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.