576 Stewart St

De Beque, CO 81630

$169,000C-

3 bd · 2.0 ba · 1,344 sqft · Built 1998 · Manufactured · Active · 629 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,484/mo
• Mortgage (P&I): −$886
• Tax + insurance: −$282
• HOA: −$0
• Vac / Maint / Mgmt: −$312
• Net cashflow: $5/mo
• Annual: $58/yr
• Cap rate: 6.33%
• Cash-on-cash: 0.12%
• DSCR: 1.01
• 1% rule: 0.88%
• Cash to close: $47,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $169k.
• At list price, monthly cash flow is $5 ($58/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (12.2% below list).
• It's been on market 629 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $148k (12.2% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Location reads 53/100 on livability (#365 in CO) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A; Watch: crime F, amenities F, commute F.
• De Beque Joint District No. 49 Of The Counties Of Mesa And (rural): math 15% / reading 40% proficiency, ranked #119 of 176 in CO (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: De Beque Pk-12 School District 49Jt (math 8% / reading 17%, 170 students, 45% FRL).
• Zoned-school proficiency averages 12% at this address vs 28% district-wide (-15 pts) — the specific schools serving this property underperform the De Beque Joint District No. 49 Of The Counties Of Mesa And average; the district grade overstates school quality for this exact location.
• Market conditions: 23 active listings in the ZIP; 1,014 units permitted in Mesa County in 2024 (240 in 5+ unit buildings).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 629 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.