415 E Dean St., Unit 22, Week 32 · Aspen, CO 81611

$185,000

3 bd · 3.0 ba · 1,808 sqft · Condo · 151 Days on market

Built 2005 $102/sqft · 41% above area Est $131k · 41% over $1016/mo HOA · 11% of rent

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Why this score? — see what drove the D+ 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
• Schools +4.1/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

2024 renovations completed (including new decor, furniture, lighting, paint and carpets). The Aspen Mountain Residences is nestled at the base of the mountain between the St. Regis and Little Nell properties. Bars, restaurants, shopping and nightlife are literally a few steps from The Aspen. The multitude of amenities and services include daily maid service, concierge, valet, heated outdoor pool along with 2 hot tubs, gym, fire pit, ski shop, e-bikes for owners use and daily breakfast service. Unit 22 is a 2nd-floor three bedroom, three bath luxury condominium. Features three decks and views overlooking pool to Shadow Mountain. Enjoy a prime ski time mid-winter week #6 (mid Feb) every year together with additional float days. 2027 dates: Fixed: Sun, February 7 to Sun, February 14. Float: Sun, September 12 to Sun, September 19. 1/20th interest - includes fixed week and float week every year and additional float week every other year.

Key facts

• Ski shop
• Heated outdoor pool
• Fire pit

Tags

• ASPEN MOUNTAIN RESIDENCES
• HEATED OUTDOOR POOL
• FIRE PIT
• SKI SHOP
• E-BIKES FOR OWNERS USE
• DAILY BREAKFAST SERVICE

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $5k ($62k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $185k).
• Recommended offer: $163k (12.0% 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 $9,402/mo this rent would consume 136% 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 $20k of equity ($1k loan paydown + $18k 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 $52k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 5.08% ✓
• Cap rate: 39.59%
• Cash-on-cash: 118.92%
• DSCR: 6.29
• GRM: 1.6

CMA / ARV

• ARV (median comp): $131,384
• List price: $185,000
• Delta: 40.81%
• Verdict: OVERPRICED
• 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: 10.23×
• Total profit: $478,166
• Equity at exit: $166,663

10-year hold

• IRR: —
• Equity multiple: 25.63×
• Total profit: $1,275,630
• Equity at exit: $359,414

Cash invested: $51,800 (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 81611

• Home prices YoY: 3.6%
• Rents YoY: 22.1%
• Active inventory: 324
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $9,402 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$1,016
• Vacancy / Maint / Mgmt: −$1,975
• Net cashflow: $5,133

Break-even live

Break-even rent $2,904

Max offer price $185,000

Occupancy floor 40%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $1,016 · $12,192/yr
• Likely covers: poolgymdoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-19
   days on market $185,000 Active 151 DOM
2. 2026-06-18
   days on market $185,000 Active 150 DOM
3. 2026-06-17
   days on market $185,000 Active 149 DOM
4. 2026-06-16
   days on market $185,000 Active 148 DOM
5. 2026-06-15
   days on market $185,000 Active 147 DOM
6. 2026-06-14
   days on market $185,000 Active 145 DOM
7. 2026-06-12
   days on market $185,000 Active 144 DOM
8. 2026-06-09
   days on market $185,000 Active 141 DOM
9. 2026-06-08
   days on market $185,000 Active 140 DOM
10. 2026-06-07
    days on market $185,000 Active 139 DOM
11. 2026-06-05
    days on market $185,000 Active 136 DOM
12. 2026-06-02
    days on market $185,000 Active 134 DOM
13. 2026-06-01
    days on market $185,000 Active 133 DOM
14. 2026-05-31
    days on market $185,000 Active 132 DOM
15. 2026-05-30
    days on market $185,000 Active 131 DOM
16. 2026-04-22
    status Pending 948-char remark

    Show marketing remark (948 chars)

    2024 renovations completed (including new decor, furniture, lighting, paint and carpets). The Aspen Mountain Residences is nestled at the base of the mountain between the St. Regis and Little Nell properties. Bars, restaurants, shopping and nightlife are literally a few steps from The Aspen. The multitude of amenities and services include daily maid service, concierge, valet, heated outdoor pool along with 2 hot tubs, gym, fire pit, ski shop, e-bikes for owners use and daily breakfast service. Unit 22 is a 2nd-floor three bedroom, three bath luxury condominium. Features three decks and views overlooking pool to Shadow Mountain. Enjoy a prime ski time mid-winter week #6 (mid Feb) every year together with additional float days. 2027 dates: Fixed: Sun, February 7 to Sun, February 14. Float: Sun, September 12 to Sun, September 19. 1/20th interest - includes fixed week and float week every year and additional float week every other year.

17. 2026-01-19
    listed $185,000 Active 869-char remark

    Show marketing remark (869 chars)

    2024 renovations completed (including new decor, furniture, lighting, paint and carpets). The Aspen Mountain Residences is nestled at the base of the mountain between the St. Regis and Little Nell properties. Bars, restaurants, shopping and nightlife are literally a few steps from The Aspen. The multitude of amenities and services include daily maid service, concierge, valet, heated outdoor pool along with 2 hot tubs, gym, fire pit, ski shop, e-bikes for owners use and daily breakfast service. Unit 22 is a 2nd-floor three bedroom, three bath luxury condominium. Features three decks and views overlooking pool to Shadow Mountain. Enjoy summer week #32 (August) every year together with additional float days. 2026 dates: Sun, August 9 to Sun, August 16. 1/20th interest - includes fixed week and float week every year and additional float week every other year.

18. 2025-11-13
    soldstatus $210,000 Closed
19. 2025-10-10
    status Pending
20. 2025-08-19
    listed $185,000 Active 948-char remark

    Show marketing remark (948 chars)

    2024 renovations completed (including new decor, furniture, lighting, paint and carpets). The Aspen Mountain Residences is nestled at the base of the mountain between the St. Regis and Little Nell properties. Bars, restaurants, shopping and nightlife are literally a few steps from The Aspen. The multitude of amenities and services include daily maid service, concierge, valet, heated outdoor pool along with 2 hot tubs, gym, fire pit, ski shop, e-bikes for owners use and daily breakfast service. Unit 22 is a 2nd-floor three bedroom, three bath luxury condominium. Features three decks and views overlooking pool to Shadow Mountain. Enjoy a prime ski time mid-winter week #6 (mid Feb) every year together with additional float days. 2027 dates: Fixed: Sun, February 7 to Sun, February 14. Float: Sun, September 12 to Sun, September 19. 1/20th interest - includes fixed week and float week every year and additional float week every other year.

21. 2025-07-12
    listed $215,000 Active
22. 2023-03-21
    soldstatus $205,000 Closed
23. 2023-03-02
    status Pending
24. 2022-10-24
    soldstatus $727,000 Closed
25. 2022-10-14
    status Pending
26. 2022-09-06
    soldstatus $138,000 Closed
27. 2022-08-16
    listed $225,000 Active
28. 2022-08-09
    status Pending
29. 2022-04-07
    listed $782,250 Active
30. 2022-01-24
    listed $145,000 Active
31. 2020-03-12
    soldstatus $515,000
32. 2017-10-03
    soldstatus $127,500
33. 2015-08-17
    soldstatus $120,000
34. 2015-07-10
    soldstatus $120,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 9 d/yr ≥76°F today · 24 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: $112,830
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$9,026
• − Management: −$9,026
• − HOA: −$12,192
• − Depreciation: −$5,382
• Taxable income: $63,141
• Est. tax owed @ 24.0%: −$15,154
• After-tax cash flow: $46,448/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

+54.2% since first listed

19 events — show timeline

• 2026-04-22 Pending — AGMLS
• 2026-01-19 Listed $185,000 AGMLS
• 2025-11-13 Sold (MLS) $210,000 AGMLS
• 2025-10-10 Pending — AGMLS
• 2025-08-19 Listed $185,000 AGMLS
• 2025-07-12 Listed $215,000 AGMLS
• 2023-03-21 Sold (MLS) $205,000 AGMLS
• 2023-03-02 Pending — AGMLS
• 2022-10-24 Sold (MLS) $727,000 AGMLS
• 2022-10-14 Pending — AGMLS
• 2022-09-06 Sold (MLS) $138,000 AGMLS
• 2022-08-16 Listed $225,000 AGMLS
• 2022-08-09 Pending — AGMLS
• 2022-04-07 Listed $782,250 AGMLS
• 2022-01-24 Listed $145,000 AGMLS
• 2020-03-12 Sold (MLS) $515,000 AGMLS
• 2017-10-03 Sold (MLS) $127,500 AGMLS
• 2015-08-17 Sold (MLS) $120,000 AGMLS
• 2015-07-10 Sold (MLS) $120,000 AGMLS