2300 Mt Werner Cir #652 · Steamboat Springs, CO 80487

$144,000

1 bd · 1.0 ba · 779 sqft · Condo public records · 84 Days on market

Built 1999 $764/mo HOA · 33% 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 +18.4/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.3/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic 6th floor views of Emerald Mountain and Yampa Valley sunsets. No one above. Lovely one bedroom with king size bed, one bath with double vanity, This is a 1/4 share, 13 weeks each year. Mogul floorplan. Recent upgrades include new kitchen appliance package! Also, recent carpet, flat screen TV, art, decor, lighting, queen sofa bed and love seat, tables and chairs. Steamboat Grand fractional ownership allows owners YEAR ROUND use of all the amenities at the Grand. Amenities include seasonal ski storage and ski valet in Gondola Square, covered parking, pool, hot tubs, fitness center, sauna, steam room, and owner's lounge. Also, owners get discounts at 3 on-site dining locations. Luxury at a fractional of the cost. Excellent location across from Gondola square, easy walk to ski. First Tracks ski access. RCI property exchange.

Key facts

• Ski resort location
• Functional island
• Gas fireplace

Tags

• SKI RESORT LOCATION
• SWEEPING SUNSET VIEWS
• GRANITE COUNTERTOPS
• FUNCTIONAL ISLAND
• GAS FIREPLACE
• PRIVATE BALCONY ACCESS

Property features AI

Finance

• Other: Located in The Steamboat Grand condominium; Directions: US40 to Mt Werner towards ski area; at start of Mt Werner Circle turn left onto Mt Werner Circle — The Steamboat Grand is on the right across from the ski area
• HOA & community: Homeowners association with annual fee; Annual association fee: $9,168 (approx. $764/month); Association amenities include a fitness center; Community features include a pool; Building features: conference room, elevators, on-site management, reception area

Exterior

• Parking: Covered underground parking
• Utilities: Cable available; Electricity available; Natural gas available; Phone available
• Home design: Residential timeshare; One level; Entry on level 6; Building has 7 stories; Has a view; Mountainous topography; Near public transit; Paved road access
• Construction: Composition roof
• Exterior features: Barbecue; Deck; Community pool; Storage

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Furnished; Gas fireplace; See remarks
• Laundry & utility: Washer; Dryer; Common area / laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $144k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $144k).
• Recommended offer: $135k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 0.1% in Steamboat Springs — 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 74/100 on livability (#41 in CO, #4,975 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, schools B; Watch: health & safety C-, amenities D, cost of living F.
• Steamboat Springs School District No. RE-2 (town): math 49% / reading 72% proficiency, ranked #4 of 86 in CO (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+10.6%/yr); 564 active listings in the ZIP; solid renter incomes; 597 units permitted in Routt County in 2024 (418 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $996 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Routt County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $40k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago 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.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,360 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.60% ✓
• Cap rate: 7.41%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-2,201
• Equity at exit: $21,471

10-year hold

• IRR: 15.0%
• Equity multiple: 2.64×
• Total profit: $66,289
• Equity at exit: $12,450

Cash invested: $40,320 (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 80487

• Rents YoY: 10.6%
• Active inventory: 564
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,303 medium
• Mortgage (P&I): −$755
• Tax from tax record: −$107 /mo · $1,278/yr
• Insurance: −$60
• HOA: −$764
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $134

Break-even live

Break-even rent $2,134

Max offer price $144,000

Occupancy floor 89%

Sensitivity live

Price	-10% $215	-5% $174	+0% $134	+5% $93	+10% $52
Rent	-10% $-48	-5% $43	+0% $134	+5% $224	+10% $315
Rate	-1.0pp $206	-0.5pp $170	base $134	+0.5pp $96	+1.0pp $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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $764 · $9,168/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-21
   status $144,000 Pending 84 DOM
2. 2026-06-19
   days on market $144,000 Active 84 DOM
3. 2026-06-18
   days on market $144,000 Active 83 DOM
4. 2026-06-17
   days on market $144,000 Active 82 DOM
5. 2026-06-16
   days on market $144,000 Active 81 DOM
6. 2026-06-15
   days on market $144,000 Active 80 DOM
7. 2026-06-14
   days on market $144,000 Active 78 DOM
8. 2026-06-12
   days on market $144,000 Active 77 DOM
9. 2026-06-09
   days on market $144,000 Active 74 DOM
10. 2026-06-08
    days on market $144,000 Active 73 DOM
11. 2026-06-07
    days on market $144,000 Active 72 DOM
12. 2026-06-07
    days on market $144,000 Active 71 DOM
13. 2026-06-04
    days on market $144,000 Active 68 DOM
14. 2026-06-02
    days on market $144,000 Active 67 DOM
15. 2026-06-01
    days on market $144,000 Active 66 DOM
16. 2026-05-31
    days on market $144,000 Active 65 DOM
17. 2026-05-31
    days on market $144,000 Active 64 DOM
18. 2026-03-27
    listed $144,000 Active
19. 2022-10-27
    historical
20. 2022-05-31
    listed $145,000 Active
21. 2022-02-09
    soldstatus $128,500
22. 2022-02-07
    soldstatus $128,500 842-char remark

    Show marketing remark (842 chars)

    Fantastic 6th floor views of Emerald Mountain and Yampa Valley sunsets. No one above. Lovely one bedroom with king size bed, one bath with double vanity, This is a 1/4 share, 13 weeks each year. Mogul floorplan. Recent upgrades include new kitchen appliance package! Also, recent carpet, flat screen TV, art, decor, lighting, queen sofa bed and love seat, tables and chairs. Steamboat Grand fractional ownership allows owners YEAR ROUND use of all the amenities at the Grand. Amenities include seasonal ski storage and ski valet in Gondola Square, covered parking, pool, hot tubs, fitness center, sauna, steam room, and owner's lounge. Also, owners get discounts at 3 on-site dining locations. Luxury at a fractional of the cost. Excellent location across from Gondola square, easy walk to ski. First Tracks ski access. RCI property exchange.

23. 2022-01-18
    soldstatus $124,000
24. 2022-01-14
    soldstatus $124,900
25. 2021-12-18
    listed $129,900 842-char remark

    Show marketing remark (842 chars)

    Fantastic 6th floor views of Emerald Mountain and Yampa Valley sunsets. No one above. Lovely one bedroom with king size bed, one bath with double vanity, This is a 1/4 share, 13 weeks each year. Mogul floorplan. Recent upgrades include new kitchen appliance package! Also, recent carpet, flat screen TV, art, decor, lighting, queen sofa bed and love seat, tables and chairs. Steamboat Grand fractional ownership allows owners YEAR ROUND use of all the amenities at the Grand. Amenities include seasonal ski storage and ski valet in Gondola Square, covered parking, pool, hot tubs, fitness center, sauna, steam room, and owner's lounge. Also, owners get discounts at 3 on-site dining locations. Luxury at a fractional of the cost. Excellent location across from Gondola square, easy walk to ski. First Tracks ski access. RCI property exchange.

26. 2021-12-18
    listed $124,900

    Show marketing remark (842 chars)

    Fantastic 6th floor views of Emerald Mountain and Yampa Valley sunsets. No one above. Lovely one bedroom with king size bed, one bath with double vanity, This is a 1/4 share, 13 weeks each year. Mogul floorplan. Recent upgrades include new kitchen appliance package! Also, recent carpet, flat screen TV, art, decor, lighting, queen sofa bed and love seat, tables and chairs. Steamboat Grand fractional ownership allows owners YEAR ROUND use of all the amenities at the Grand. Amenities include seasonal ski storage and ski valet in Gondola Square, covered parking, pool, hot tubs, fitness center, sauna, steam room, and owner's lounge. Also, owners get discounts at 3 on-site dining locations. Luxury at a fractional of the cost. Excellent location across from Gondola square, easy walk to ski. First Tracks ski access. RCI property exchange.

27. 2002-04-18
    soldstatus $109,500
28. 2002-02-28
    soldstatus $109,500
29. 2001-03-06
    soldstatus $99,500
30. 2001-01-22
    soldstatus $109,500
31. 2000-10-23
    soldstatus $95,900
32. 2000-09-28
    soldstatus $99,500

ⓘ 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: $1,278 · $107/mo
• Projected year-2 tax: $1,278 · $107/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 5/10 Major
• 🌡 Heat 2/10 Low 8 d/yr ≥80°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,634
• − Mortgage interest: −$8,066
• − Property taxes: −$1,278
• − Insurance: −$720
• − Repairs & maintenance: −$2,211
• − Management: −$2,211
• − HOA: −$9,168
• − Depreciation: −$4,189
• Taxable loss: −$210
• Est. tax savings @ 24.0%: +$50
• After-tax cash flow: $1,653/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: Steamboat Springs School District No. RE-2
• NCES district ID: 0806660
• Math proficiency: 49% ▼ -9.00%
• Reading proficiency: 72% ▲ 1.00%
• Median HH income: $67,833
• Composite: 53.1/100
• National rank: #1513
• State rank: #4 of 86 in CO

Livability — Steamboat Springs

• Score: 74/100
• State rank: #41
• US rank: #4975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Steamboat Springs, CO
• County: Routt County · 18,525 people
• City population: 18,525
• Metro: Steamboat Springs, CO
• Population (ZIP): 18,525
• Household income: $109,659
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 644.0

Population outlook (Routt County) Hauer SSP2

• Today (2025): 27,283 people
• By 2030: 28,555 · +4.7%
• By 2040: 30,578 · +12.1%
• By 2050: 32,328 · +18.5%
• By 2075: 36,897 · +35.2%
• By 2100: 38,794 · +42.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 12% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 5% Slovak 3% Lithuanian 3%
• Foreign-born: 7% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Routt

• 2024 margin: Strong D (+27.7) · D 62.5% · R 34.8% · Other 2.8%
• 2008→2024 swing: +0.9pp no change · 2008: 26.9pp · 2024: 27.7pp
• All cycles: 2024: D+27.7 2020: D+27.6 2016: D+17.0 2012: D+15.6 2008: D+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -342.73%
• Current HPI: 471.8844
• Rent YoY: ▲ 10.61%
• Metro: Steamboat 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

+44.7% since first listed

15 events — show timeline

• 2026-03-27 Listed $144,000 SAR
• 2022-10-27 Listing Removed — REColorado as Distributed by MLS Grid
• 2022-05-31 Listed $145,000 REColorado as Distributed by MLS Grid
• 2022-02-09 Sold (Public Records) $128,500 Public Records
• 2022-02-07 Sold (MLS) $128,500 SAR
• 2022-01-18 Sold (Public Records) $124,000 Public Records
• 2022-01-14 Sold (MLS) $124,900 SAR
• 2021-12-18 Listed $124,900 SAR
• 2021-12-18 Listed $129,900 SAR
• 2002-04-18 Sold (Public Records) $109,500 Public Records
• 2002-02-28 Sold (Public Records) $109,500 Public Records
• 2001-03-06 Sold (Public Records) $99,500 Public Records
• 2001-01-22 Sold (Public Records) $109,500 Public Records
• 2000-10-23 Sold (Public Records) $95,900 Public Records
• 2000-09-28 Sold (Public Records) $99,500 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,278 · +82.7% YoY. Source: county tax records.