0075 Prospector Rd Unit 8204 Winter Interest 5 · Aspen, CO 81611

$89,000

3 bd · 3.0 ba · 1,617 sqft · Condo public records · 74 Days on market

Built 2001 $55/sqft · 6% above area Est $84k · 6% over $2165/mo HOA · 22% of rent

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Why this score? — see what drove the C- 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).

• Cash flow +15.0/30.0
• Appreciation +10.0/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• ARV discount +4.6/15.0
• Schools +4.1/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Lowest priced unit in Elk Horn Lodge, a luxury condominium right at the base of Aspen Highlands ski area. Residence 8204 is a 3 bedroom unit with balcony on the quiet side of the Elk Horn Lodge. Summer Interest 11 gets you two consecutive summer weeks, one ski week and one float week per year, on a rotating basis. Available in 2026 are 3 weeks; Jul. 25 to Aug. 1 (summer), Oct. 10 to 17 (fall), and Nov. 21 to 28 (Thanksgiving). Note: 2026 ski week in no longer available. Wondering about changing your weeks? That can be done through the RCExchange. All the fabulous Ritz services & amenities including spa, pool, restaurant, concierge, shuttle & twice a day maid service. Trading privileges with RitzCarlton Clubs in St. Thomas, Vail, Lake Tahoe & San Francisco. Affiliations with Marriott and ThirdHome give you a world of vacation opportunities. * Photos are stocks photos, not actual unit. See 'Documents' for map, floor plan, and calendar.

Key facts

• $2,165 HOA
• Garage
• Pool

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $89k.

Deal economics

• At list price, monthly cash flow is $5k ($56k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#142 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, schools B+; Watch: amenities F, cost of living F, health & safety F.
• Aspen School District No. 1 In The County Of Pitkin And Sta (rural): math 36% / reading 56% proficiency, ranked #18 of 86 in CO (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+22.1%/yr); 324 active listings in the ZIP; solid renter incomes; 145 units permitted in Pitkin County in 2024 (89 in 5+ unit buildings).
• At $9,654/mo this rent would consume 140% of the median local household income ($83k/yr) (locally 566% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $10k of equity ($615 loan paydown + $9k appreciation (10.0% local appreciation)).
• Pitkin County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $49k; list at $89k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; HOA is 22% of rent.

Recommended offer $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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.
9. 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.
10. 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: 10.85% ✓
• Cap rate: 69.13%
• Cash-on-cash: 224.43%
• DSCR: 10.99
• GRM: 0.8

CMA / ARV

• ARV (median comp): $83,653
• List price: $89,000
• Delta: 6.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 16.97×
• Total profit: $397,929
• Equity at exit: $80,178

10-year hold

• IRR: —
• Equity multiple: 43.86×
• Total profit: $1,067,954
• Equity at exit: $172,907

Cash invested: $24,920 (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 81611

• Home prices YoY: 3.6%
• Rents YoY: 22.1%
• Active inventory: 324
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $9,654 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$297 /mo · $3,567/yr
• Insurance: −$37
• HOA: −$2,165
• Vacancy / Maint / Mgmt: −$2,027
• Net cashflow: $4,661

Break-even live

Break-even rent $3,754

Max offer price $89,000

Occupancy floor 47%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $2,165 · $25,980/yr
• Likely covers: pooldoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-19
   days on market $89,000 Active 74 DOM
2. 2026-06-18
   days on market $89,000 Active 73 DOM
3. 2026-06-17
   days on market $89,000 Active 72 DOM
4. 2026-06-16
   days on market $89,000 Active 71 DOM
5. 2026-06-15
   days on market $89,000 Active 70 DOM
6. 2026-06-14
   days on market $89,000 Active 68 DOM
7. 2026-06-12
   days on market $89,000 Active 67 DOM
8. 2026-06-09
   days on market $89,000 Active 64 DOM
9. 2026-06-08
   days on market $89,000 Active 63 DOM
10. 2026-06-07
    days on market $89,000 Active 62 DOM
11. 2026-06-05
    days on market $89,000 Active 59 DOM
12. 2026-06-02
    days on market $89,000 Active 57 DOM
13. 2026-06-01
    days on market $89,000 Active 56 DOM
14. 2026-05-31
    days on market $89,000 Active 55 DOM
15. 2026-05-30
    days on market $89,000 Active 54 DOM
16. 2026-05-04
    soldstatus $49,000 Closed 961-char remark

    Show marketing remark (961 chars)

    Lowest priced unit in Elk Horn Lodge, a luxury condominium right at the base of Aspen Highlands ski area. Residence 8204 is a 3 bedroom unit with balcony on the quiet side of the Elk Horn Lodge. Summer Interest 11 gets you two consecutive summer weeks, one ski week and one float week per year, on a rotating basis. Available in 2026 are 3 weeks; Jul. 25 to Aug. 1 (summer), Oct. 10 to 17 (fall), and Nov. 21 to 28 (Thanksgiving). Note: 2026 ski week in no longer available. Wondering about changing your weeks? That can be done through the RCExchange. All the fabulous Ritz services & amenities including spa, pool, restaurant, concierge, shuttle & twice a day maid service. Trading privileges with RitzCarlton Clubs in St. Thomas, Vail, Lake Tahoe & San Francisco. Affiliations with Marriott and ThirdHome give you a world of vacation opportunities. * Photos are stocks photos, not actual unit. See 'Documents' for map, floor plan, and calendar.

17. 2026-04-07
    status Pending 961-char remark

    Show marketing remark (961 chars)

    Lowest priced unit in Elk Horn Lodge, a luxury condominium right at the base of Aspen Highlands ski area. Residence 8204 is a 3 bedroom unit with balcony on the quiet side of the Elk Horn Lodge. Summer Interest 11 gets you two consecutive summer weeks, one ski week and one float week per year, on a rotating basis. Available in 2026 are 3 weeks; Jul. 25 to Aug. 1 (summer), Oct. 10 to 17 (fall), and Nov. 21 to 28 (Thanksgiving). Note: 2026 ski week in no longer available. Wondering about changing your weeks? That can be done through the RCExchange. All the fabulous Ritz services & amenities including spa, pool, restaurant, concierge, shuttle & twice a day maid service. Trading privileges with RitzCarlton Clubs in St. Thomas, Vail, Lake Tahoe & San Francisco. Affiliations with Marriott and ThirdHome give you a world of vacation opportunities. * Photos are stocks photos, not actual unit. See 'Documents' for map, floor plan, and calendar.

18. 2026-04-02
    listed $89,000 Active 826-char remark

    Show marketing remark (826 chars)

    1/12 interest in a luxury condominium right at the base of Aspen Highlands ski area! Residence 8204 is a second floor 3 bedroom unit in the Elk Horn Lodge. Over 1600 square feet (per assessor) with balcony. Winter Interest #5 gets you 2 consecutive ski weeks, one summer week, and one float week each year. September 12-19, 2026. 11 float nights of useage remaining for 2026, to be used by December 5. March 20- April 3, 2027. All the fabulous Ritz services & amenities including spa, pool, restaurant, concierge, shuttle & twice a day maid service. Trading privileges with Ritz Carlton Clubs in St. Thomas, Vail, Lake Tahoe & San Francisco. Afflation with 3rd Home & Marriott give you world of vacation opportunities. See Documents for map, floor plan and calendar. Photos are stock photos, not actual unit.

19. 2026-03-30
    listed $49,000 Active 961-char remark

    Show marketing remark (961 chars)

    Lowest priced unit in Elk Horn Lodge, a luxury condominium right at the base of Aspen Highlands ski area. Residence 8204 is a 3 bedroom unit with balcony on the quiet side of the Elk Horn Lodge. Summer Interest 11 gets you two consecutive summer weeks, one ski week and one float week per year, on a rotating basis. Available in 2026 are 3 weeks; Jul. 25 to Aug. 1 (summer), Oct. 10 to 17 (fall), and Nov. 21 to 28 (Thanksgiving). Note: 2026 ski week in no longer available. Wondering about changing your weeks? That can be done through the RCExchange. All the fabulous Ritz services & amenities including spa, pool, restaurant, concierge, shuttle & twice a day maid service. Trading privileges with RitzCarlton Clubs in St. Thomas, Vail, Lake Tahoe & San Francisco. Affiliations with Marriott and ThirdHome give you a world of vacation opportunities. * Photos are stocks photos, not actual unit. See 'Documents' for map, floor plan, and calendar.

20. 2021-11-29
    soldstatus $75,000 Closed
21. 2019-07-09
    soldstatus $25,000
22. 2014-10-16
    soldstatus $27,000
23. 2012-05-23
    soldstatus $80,000
24. 2009-10-13
    soldstatus $130,000
25. 2008-11-17
    soldstatus $175,000
26. 2008-09-04
    soldstatus $170,000
27. 2003-05-08
    soldstatus $235,000
28. 2003-04-09
    soldstatus $220,000
29. 2003-03-10
    soldstatus $200,000
30. 2002-06-27
    soldstatus $200,000
31. 2001-09-14
    soldstatus $190,000
32. 2001-08-14
    soldstatus $200,000
33. 2001-06-27
    soldstatus $200,000

ⓘ 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: $3,567 · $297/mo
• Projected year-2 tax: $3,567 · $297/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥78°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $115,850
• − Mortgage interest: −$4,985
• − Property taxes: −$3,567
• − Insurance: −$445
• − Repairs & maintenance: −$9,268
• − Management: −$9,268
• − HOA: −$25,980
• − Depreciation: −$2,589
• Taxable income: $59,748
• Est. tax owed @ 24.0%: −$14,339
• After-tax cash flow: $41,590/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: Aspen School District No. 1 In The County Of Pitkin And Sta
• NCES district ID: 0802280
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $66,694
• Composite: 40.98/100
• National rank: #3595
• State rank: #18 of 86 in CO

Livability — Aspen

• Score: 66/100
• State rank: #142
• US rank: #11780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aspen, CO
• County: Pitkin County · 9,068 people
• City population: 9,068
• Metro: Glenwood Springs, CO
• Population (ZIP): 9,068
• Household income: $82,664
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 566.0

Population outlook (Pitkin County) Hauer SSP2

• Today (2025): 20,121 people
• By 2030: 21,110 · +4.9%
• By 2040: 22,707 · +12.9%
• By 2050: 24,105 · +19.8%
• By 2075: 27,933 · +38.8%
• By 2100: 30,018 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Salvadoran 4%
• Common ancestry: Slovak 3% Iranian 3% Romanian 3%
• Foreign-born: 15% · Canada, Dominican Republic, China
• Languages at home: 82% English-only · Spanish 9% Other Indo-European 2% Chinese 2%

Political lean MEDSL · Pitkin

• 2024 margin: Solid D (+44.2) · D 71.0% · R 26.8% · Other 2.2%
• 2008→2024 swing: -4.6pp toward R · 2008: 48.8pp · 2024: 44.2pp
• All cycles: 2024: D+44.2 2020: D+51.9 2016: D+45.4 2012: D+37.9 2008: D+48.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.97%
• Current HPI: 370.9593
• Rent YoY: ▲ 22.07%
• Metro: Glenwood Springs, 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

-75.5% since first listed

18 events — show timeline

• 2026-05-04 Sold (MLS) $49,000 AGMLS
• 2026-04-07 Pending — AGMLS
• 2026-04-02 Listed $89,000 AGMLS
• 2026-03-30 Listed $49,000 AGMLS
• 2021-11-29 Sold (MLS) $75,000 AGMLS
• 2019-07-09 Sold (Public Records) $25,000 Public Records
• 2014-10-16 Sold (Public Records) $27,000 Public Records
• 2012-05-23 Sold (Public Records) $80,000 Public Records
• 2009-10-13 Sold (Public Records) $130,000 Public Records
• 2008-11-17 Sold (Public Records) $175,000 Public Records
• 2008-09-04 Sold (Public Records) $170,000 Public Records
• 2003-05-08 Sold (Public Records) $235,000 Public Records
• 2003-04-09 Sold (Public Records) $220,000 Public Records
• 2003-03-10 Sold (Public Records) $200,000 Public Records
• 2002-06-27 Sold (Public Records) $200,000 Public Records
• 2001-09-14 Sold (Public Records) $190,000 Public Records
• 2001-08-14 Sold (Public Records) $200,000 Public Records
• 2001-06-27 Sold (Public Records) $200,000 Public Records

Property tax history

-8.1%/yr

Latest (2025): $3,567 · -2.7% YoY. Source: county tax records.