2713 B 1/2 Rd #136

Grand Junction, CO 81503

$85,000D

2 bd · 2.0 ba · 840 sqft · Built 2025 · Manufactured · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,466/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$142
• HOA: −$670
• Vac / Maint / Mgmt: −$308
• Net cashflow: $-99/mo
• Annual: $-1,191/yr
• Cap rate: 4.89%
• Cash-on-cash: -5.00%
• DSCR: 0.78
• 1% rule: 1.72%
• Cash to close: $23,800

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $85k. Condition is rated good.
• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $71k (16.9% below list).
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 31 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $71k (16.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#15 in CO, #2,222 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A; Watch: employment D+, crime F.
• Mesa County Valley School District No. 51 (suburban): math 26% / reading 38% proficiency, ranked #43 of 86 in CO (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dos Rios Elementary School (math 27% / reading 37%, grade F, #475 of 966 statewide, top 51%, 287 students, 78% FRL); Orchard Mesa Middle School (math 11% / reading 25%, grade F, #218 of 270 statewide, top 81%, 465 students, 57% FRL); Grand Junction High School (math 25% / reading 53%, grade F, #188 of 381 statewide, top 49%, 1,522 students, 36% FRL) — zoned schools average 57% FRL vs 39% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 46% of rent.
• Market conditions: 205 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,014 units permitted in Mesa County in 2024 (240 in 5+ unit buildings).
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 4→11/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.9% vs local median 3.1% in Grand Junction — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.