22340 US-6 #1794 · Keystone, CO 80435

$135,000

3 bd · 3.0 ba · 1,828 sqft · Condo public records · 360 Days on market

Built 1979 $292/mo HOA · 9% of rent ↓ 58% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Buyer benefit: Seller has already paid the 2026 HOA dues in full. Newest co-ownership opportunity (2 ski weeks/2 summer weeks) adjacent to the Peru Lift. Take the hassles out of ownership so you can focus on what matters most: Making memories in a special place that brings your favorite people together with deeded co-ownership of this professionally managed, turnkey condo. Get back to nature with a second home in Keystone is as effortless as it is extraordinary with this Decatur building residence showcasing the pinnacle of second home living, from the multi-level design to the views of the Peru Lift, White River National Forest and beyond. Do what you love, in your dream destination, with

Key facts

• Hot tub
• Multilevel design
• Sauna

Tags

• MULTILEVEL DESIGN
• WALL OF WINDOWS
• POOL
• HOT TUB
• SAUNA
• WALKING AND BIKING PATH

Property features AI

Finance

• HOA & community: Association with annual fee; Association fee includes cable TV, common area maintenance, electricity, gas, heat, insurance, internet, management, security, sewer, snow removal, taxes, telephone, trash, water, and furniture replacement; On-site management; Pool; Shuttle service; Spa/Hot Tub; Clubhouse; Fishing; Golf; Near public transit; Trails; Pets allowed

Exterior

• Construction: Metal roof; Poured in place foundation
• Exterior features: Planned unit development (PUD)

Interior

• Kitchen: Built-in gas oven; Range; Range hood; Microwave; Dishwasher; Refrigerator; Disposal
• Bedrooms: 3 bedrooms; Includes a Master Bedroom
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating; Ceiling fan(s)
• Interior features: Fireplace; Furnished
• Laundry & utility: Washer and dryer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.0% vs local median 0.4% in Keystone — 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.

Location & tenants

• Location reads 49/100 on livability (#412 in CO) — a working-class tenant base; expect higher turnover. Strengths: crime A-; Watch: schools C-, commute C-, amenities 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: 409 active listings in the ZIP; solid renter incomes; 308 units permitted in Summit County in 2024 (123 in 5+ unit buildings).
• This rent runs 40% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Summit County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 360 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $102k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.42% ✓
• Cap rate: 17.03%
• Cash-on-cash: 38.34%
• DSCR: 2.71
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.6%
• Equity multiple: 2.46×
• Total profit: $55,357
• Equity at exit: $20,129

10-year hold

• IRR: 41.5%
• Equity multiple: 4.93×
• Total profit: $148,548
• Equity at exit: $11,672

Cash invested: $37,800 (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 80435

• Active inventory: 409
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $3,272 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$321 /mo · $3,849/yr
• Insurance: −$56
• HOA: −$292
• Vacancy / Maint / Mgmt: −$687
• Net cashflow: $1,208

Break-even live

Break-even rent $1,743

Max offer price $135,000

Occupancy floor 58%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $292 · $3,504/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-19
   days on market $135,000 Active 360 DOM
2. 2026-06-18
   days on market $135,000 Active 359 DOM
3. 2026-06-17
   days on market $135,000 Active 358 DOM
4. 2026-06-16
   days on market $135,000 Active 357 DOM
5. 2026-06-15
   days on market $135,000 Active 356 DOM
6. 2026-06-14
   days on market $135,000 Active 354 DOM
7. 2026-06-12
   days on market $135,000 Active 353 DOM
8. 2026-06-09
   days on market $135,000 Active 350 DOM
9. 2026-06-08
   days on market $135,000 Active 349 DOM
10. 2026-06-07
    days on market $135,000 Active 348 DOM
11. 2026-06-05
    days on market $135,000 Active 345 DOM
12. 2026-06-02
    days on market $135,000 Active 343 DOM
13. 2026-06-01
    days on market $135,000 Active 342 DOM
14. 2026-05-31
    days on market $135,000 Active 341 DOM
15. 2026-05-30
    days on market $135,000 Active 340 DOM
16. 2026-03-06
    price $135,000
17. 2026-01-02
    price $160,000
18. 2025-09-01
    price $165,000
19. 2025-06-24
    listed $175,000 Active
20. 1987-02-01
    soldstatus $102,500
21. 1979-10-01
    soldstatus $325,000

ⓘ 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: $3,849 · $321/mo
• Projected year-2 tax: $3,849 · $321/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 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 12 d/yr ≥70°F today · 32 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,259
• − Mortgage interest: −$7,562
• − Property taxes: −$3,849
• − Insurance: −$675
• − Repairs & maintenance: −$3,141
• − Management: −$3,141
• − HOA: −$3,504
• − Depreciation: −$3,927
• Taxable income: $13,460
• Est. tax owed @ 24.0%: −$3,230
• After-tax cash flow: $11,260/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: Summit School District No. RE-1
• NCES district ID: 0806810
• Math proficiency: 27% ▼ -7.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $67,591
• Composite: 31.97/100
• National rank: #5840
• State rank: #35 of 86 in CO

Livability — Keystone

• Score: 49/100
• State rank: #412
• US rank: #25767

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keystone, CO
• County: Summit County · 31,352 people
• City population: 8,715
• Metro: Breckenridge, CO
• Population (ZIP): 8,715
• Household income: $97,463
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 302.0

Population outlook (Summit County) Hauer SSP2

• Today (2025): 35,421 people
• By 2030: 37,983 · +7.2%
• By 2040: 42,597 · +20.3%
• By 2050: 46,695 · +31.8%
• By 2075: 55,288 · +56.1%
• By 2100: 61,033 · +72.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 32% Two or more races 20% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Slovak 2% Portuguese 2% Romanian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 15% Other Asian/Pacific 1%

Political lean MEDSL · Summit

• 2024 margin: Solid D (+37.2) · D 67.0% · R 29.9% · Other 3.1%
• 2008→2024 swing: +4.1pp toward D · 2008: 33.0pp · 2024: 37.2pp
• All cycles: 2024: D+37.2 2020: D+39.5 2016: D+27.6 2012: D+24.4 2008: D+33.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -237.44%
• Current HPI: 342.4123
• Rent YoY: —
• Metro: Breckenridge, 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

-58.5% since first listed

6 events — show timeline

• 2026-03-06 Price Changed $135,000 VMLS
• 2026-01-02 Price Changed $160,000 VMLS
• 2025-09-01 Price Changed $165,000 VMLS
• 2025-06-24 Listed $175,000 VMLS
• 1987-02-01 Sold (Public Records) $102,500 Public Records
• 1979-10-01 Sold (Public Records) $325,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $3,849 · +1.5% YoY. Source: county tax records.