212 Gerrard Ave

Boone, CO 81025

$85,500B+

2 bd · 1.0 ba · 1,107 sqft · Built 1954 · SingleFamily · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,107/mo
• Mortgage (P&I): −$448
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $298/mo
• Annual: $3,575/yr
• Cap rate: 10.47%
• Cash-on-cash: 14.93%
• DSCR: 1.66
• 1% rule: 1.29%
• Cash to close: $23,940

Investor read

• This is a 2-bed/1.0-bath single-family listed at $86k.
• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• It's been on market 30 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($591 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#230 in CO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, employment B+; Watch: health & safety C-, amenities F, commute F.
• Pueblo County School District 70 (suburban): math 24% / reading 43% proficiency, ranked #40 of 86 in CO (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prairie Winds Elementary School (math 24% / reading 27%, grade F, #594 of 966 statewide, top 62%, 500 students, 47% FRL); Sky View Middle School (math 22% / reading 47%, grade F, #106 of 270 statewide, top 42%, 577 students, 41% FRL); Pueblo West High School (math 23% / reading 52%, grade F, #192 of 381 statewide, top 51%, 1,484 students, 40% FRL).
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 269 units permitted in Pueblo County in 2024 (0 in 5+ unit buildings).
• Pueblo County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 8 sale attempts since 9y ago; this cycle's ask has dropped $14k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.