2300 Mt Werner Cir Unit 455 QIVB · Steamboat Springs, CO 80487

$123,000

1 bd · 2.0 ba · 956 sqft · Condo public records · 91 Days on market

Built 1999 $469/mo HOA · 20% of rent ↓ 9% 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 +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

Enjoy this amazing location just steps away from all of the action at the base of the Steamboat ski area with this 1/8th share fractional ownership of unit #455/56 at the Steamboat Grand. This "Freestyle" unit offers a flexible floor plan offering the ability to be rented out as a Parlor, 1 bedroom or King Suite. Owners and renters will appreciate the fantastic location in the building close to the owners ski storage and the elevator that takes you to the street level for convenient access to the ski base area. The Parlor offers an open kitchen, a living room with additional sleeping areas on the queen sleeper sofa or the two twin-size day beds, a gas fireplace and a full bathroom off the large entry. The open living area has large picture windows to invite the natural light inside. The adjacent king bed primary suite with a separate entry door and lock-off option has a covered walkout balcony, additional gas fireplace, and full bathroom with a jetted tub to soak in the experience. Steamboat Grand owners have unparalleled access to an array of amenities. Relax after a day on the slopes by getting a massage at the newly remodeled spa or soaking in the outdoor pool/hot tubs while ordering poolside food and drinks. You can enjoy the fitness center, the Cabin Restaurant, game room, private underground parking, and your very own storage locker at the Grand Club so you don’t have to haul all of your ski gear. With the extensive improvements and expansion underway at the ski area, it is a great time to be a fractional owner at the Steamboat Grand!

Key facts

• King suite
• Stone fireplace
• Breakfast bar

Tags

• PANORAMIC MOUNTAIN VIEWS
• STONE FIREPLACE
• STAINLESS STEEL APPLIANCES
• BREAKFAST BAR
• GENEROUS COUNTER SPACE
• KING SUITE

Property features AI

Finance

• Other: Building features include conference room, elevators, food services, reception area, and steam room
• Financial info: Association fee: $5,625 annually (about $468.75/month)
• HOA & community: Has homeowners association; HOA amenities include fitness center and pool; HOA fee paid annually

Exterior

• Parking: Attached garage; Concrete driveway; Garage with electric vehicle charging station(s); Lighted parking; Unassigned parking
• Utilities: Public water; Public sewer; Sewer connected; Electricity available; Natural gas available; Cable available; Cable connected; Phone available; Water available
• Home design: Residential timeshare; One level entry (entry level 4); 8-story building; Has a view
• Construction: Concrete, stone, stucco, and steel siding construction; Metal roof
• Exterior features: Deck; Community pool; Storage; Sprinklers front and rear; Landscaped; Near public transit; Paved public road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Self-cleaning oven
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Forced air; Hot water heating; Natural gas heating; Cooling available; Humidifier
• Interior features: Furnished; See remarks; Gas fireplace; Therapeutic whirlpool (accessibility feature)
• Laundry & utility: Washer/Dryer included; Common area laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $123k.

Deal economics

• At list price, monthly cash flow is $609 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $123k).
• Recommended offer: $112k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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 $850 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 $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y 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.
• Current owner paid $90k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $111,930 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.94% ✓
• Cap rate: 12.24%
• Cash-on-cash: 21.23%
• DSCR: 1.94
• GRM: 4.3

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: 20.9%
• Equity multiple: 1.92×
• Total profit: $31,807
• Equity at exit: $18,340

10-year hold

• IRR: 33.0%
• Equity multiple: 4.96×
• Total profit: $136,376
• Equity at exit: $10,635

Cash invested: $34,440 (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: 4.3×

Monthly cashflow live

• Estimated rent: $2,390 medium
• Mortgage (P&I): −$645
• Tax from tax record: −$114 /mo · $1,364/yr
• Insurance: −$51
• HOA: −$469
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $609

Break-even live

Break-even rent $1,619

Max offer price $123,000

Occupancy floor 70%

Sensitivity live

Price	-10% $679	-5% $644	+0% $609	+5% $574	+10% $540
Rent	-10% $420	-5% $515	+0% $609	+5% $704	+10% $798
Rate	-1.0pp $671	-0.5pp $641	base $609	+0.5pp $577	+1.0pp $545

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $469 · $5,628/yr
• Likely covers: gaspoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-21
   days on market $123,000 Active 91 DOM
2. 2026-06-19
   days on market $123,000 Active 89 DOM
3. 2026-06-18
   days on market $123,000 Active 88 DOM
4. 2026-06-17
   days on market $123,000 Active 87 DOM
5. 2026-06-16
   days on market $123,000 Active 86 DOM
6. 2026-06-15
   days on market $123,000 Active 85 DOM
7. 2026-06-14
   days on market $123,000 Active 83 DOM
8. 2026-06-12
   days on market $123,000 Active 82 DOM
9. 2026-06-09
   days on market $123,000 Active 79 DOM
10. 2026-06-08
    days on market $123,000 Active 78 DOM
11. 2026-06-07
    days on market $123,000 Active 77 DOM
12. 2026-06-07
    days on market $123,000 Active 76 DOM
13. 2026-06-04
    days on market $123,000 Active 73 DOM
14. 2026-06-02
    days on market $123,000 Active 72 DOM
15. 2026-06-01
    days on market $123,000 Active 71 DOM
16. 2026-05-31
    days on market $123,000 Active 70 DOM
17. 2026-05-31
    days on market $123,000 Active 69 DOM
18. 2026-03-22
    listed $123,000 Active
19. 2023-07-10
    soldstatus $90,000
20. 2023-07-06
    soldstatus $90,000 Closed 1582-char remark

    Show marketing remark (1582 chars)

    Enjoy this amazing location just steps away from all of the action at the base of the Steamboat ski area with this 1/8th share fractional ownership of unit #455/56 at the Steamboat Grand. This "Freestyle" unit offers a flexible floor plan offering the ability to be rented out as a Parlor, 1 bedroom or King Suite. Owners and renters will appreciate the fantastic location in the building close to the owners ski storage and the elevator that takes you to the street level for convenient access to the ski base area. The Parlor offers an open kitchen, a living room with additional sleeping areas on the queen sleeper sofa or the two twin-size day beds, a gas fireplace and a full bathroom off the large entry. The open living area has large picture windows to invite the natural light inside. The adjacent king bed primary suite with a separate entry door and lock-off option has a covered walkout balcony, additional gas fireplace, and full bathroom with a jetted tub to soak in the experience. Steamboat Grand owners have unparalleled access to an array of amenities. Relax after a day on the slopes by getting a massage at the newly remodeled spa or soaking in the outdoor pool/hot tubs while ordering poolside food and drinks. You can enjoy the fitness center, the Cabin Restaurant, game room, private underground parking, and your very own storage locker at the Grand Club so you don’t have to haul all of your ski gear. With the extensive improvements and expansion underway at the ski area, it is a great time to be a fractional owner at the Steamboat Grand!

21. 2023-07-06
    soldstatus $90,000 1582-char remark

    Show marketing remark (1582 chars)

    Enjoy this amazing location just steps away from all of the action at the base of the Steamboat ski area with this 1/8th share fractional ownership of unit #455/56 at the Steamboat Grand. This "Freestyle" unit offers a flexible floor plan offering the ability to be rented out as a Parlor, 1 bedroom or King Suite. Owners and renters will appreciate the fantastic location in the building close to the owners ski storage and the elevator that takes you to the street level for convenient access to the ski base area. The Parlor offers an open kitchen, a living room with additional sleeping areas on the queen sleeper sofa or the two twin-size day beds, a gas fireplace and a full bathroom off the large entry. The open living area has large picture windows to invite the natural light inside. The adjacent king bed primary suite with a separate entry door and lock-off option has a covered walkout balcony, additional gas fireplace, and full bathroom with a jetted tub to soak in the experience. Steamboat Grand owners have unparalleled access to an array of amenities. Relax after a day on the slopes by getting a massage at the newly remodeled spa or soaking in the outdoor pool/hot tubs while ordering poolside food and drinks. You can enjoy the fitness center, the Cabin Restaurant, game room, private underground parking, and your very own storage locker at the Grand Club so you don’t have to haul all of your ski gear. With the extensive improvements and expansion underway at the ski area, it is a great time to be a fractional owner at the Steamboat Grand!

22. 2023-06-15
    status Pending Accepting Backup Offers 1582-char remark

    Show marketing remark (1582 chars)

    Enjoy this amazing location just steps away from all of the action at the base of the Steamboat ski area with this 1/8th share fractional ownership of unit #455/56 at the Steamboat Grand. This "Freestyle" unit offers a flexible floor plan offering the ability to be rented out as a Parlor, 1 bedroom or King Suite. Owners and renters will appreciate the fantastic location in the building close to the owners ski storage and the elevator that takes you to the street level for convenient access to the ski base area. The Parlor offers an open kitchen, a living room with additional sleeping areas on the queen sleeper sofa or the two twin-size day beds, a gas fireplace and a full bathroom off the large entry. The open living area has large picture windows to invite the natural light inside. The adjacent king bed primary suite with a separate entry door and lock-off option has a covered walkout balcony, additional gas fireplace, and full bathroom with a jetted tub to soak in the experience. Steamboat Grand owners have unparalleled access to an array of amenities. Relax after a day on the slopes by getting a massage at the newly remodeled spa or soaking in the outdoor pool/hot tubs while ordering poolside food and drinks. You can enjoy the fitness center, the Cabin Restaurant, game room, private underground parking, and your very own storage locker at the Grand Club so you don’t have to haul all of your ski gear. With the extensive improvements and expansion underway at the ski area, it is a great time to be a fractional owner at the Steamboat Grand!

23. 2023-06-13
    listed $92,000 Active 1582-char remark

    Show marketing remark (1582 chars)

    Enjoy this amazing location just steps away from all of the action at the base of the Steamboat ski area with this 1/8th share fractional ownership of unit #455/56 at the Steamboat Grand. This "Freestyle" unit offers a flexible floor plan offering the ability to be rented out as a Parlor, 1 bedroom or King Suite. Owners and renters will appreciate the fantastic location in the building close to the owners ski storage and the elevator that takes you to the street level for convenient access to the ski base area. The Parlor offers an open kitchen, a living room with additional sleeping areas on the queen sleeper sofa or the two twin-size day beds, a gas fireplace and a full bathroom off the large entry. The open living area has large picture windows to invite the natural light inside. The adjacent king bed primary suite with a separate entry door and lock-off option has a covered walkout balcony, additional gas fireplace, and full bathroom with a jetted tub to soak in the experience. Steamboat Grand owners have unparalleled access to an array of amenities. Relax after a day on the slopes by getting a massage at the newly remodeled spa or soaking in the outdoor pool/hot tubs while ordering poolside food and drinks. You can enjoy the fitness center, the Cabin Restaurant, game room, private underground parking, and your very own storage locker at the Grand Club so you don’t have to haul all of your ski gear. With the extensive improvements and expansion underway at the ski area, it is a great time to be a fractional owner at the Steamboat Grand!

24. 2023-06-13
    listed $92,000 1582-char remark

    Show marketing remark (1582 chars)

    Enjoy this amazing location just steps away from all of the action at the base of the Steamboat ski area with this 1/8th share fractional ownership of unit #455/56 at the Steamboat Grand. This "Freestyle" unit offers a flexible floor plan offering the ability to be rented out as a Parlor, 1 bedroom or King Suite. Owners and renters will appreciate the fantastic location in the building close to the owners ski storage and the elevator that takes you to the street level for convenient access to the ski base area. The Parlor offers an open kitchen, a living room with additional sleeping areas on the queen sleeper sofa or the two twin-size day beds, a gas fireplace and a full bathroom off the large entry. The open living area has large picture windows to invite the natural light inside. The adjacent king bed primary suite with a separate entry door and lock-off option has a covered walkout balcony, additional gas fireplace, and full bathroom with a jetted tub to soak in the experience. Steamboat Grand owners have unparalleled access to an array of amenities. Relax after a day on the slopes by getting a massage at the newly remodeled spa or soaking in the outdoor pool/hot tubs while ordering poolside food and drinks. You can enjoy the fitness center, the Cabin Restaurant, game room, private underground parking, and your very own storage locker at the Grand Club so you don’t have to haul all of your ski gear. With the extensive improvements and expansion underway at the ski area, it is a great time to be a fractional owner at the Steamboat Grand!

25. 2023-03-31
    historical
26. 2023-01-20
    listed $92,000 Active
27. 2023-01-13
    historical
28. 2022-11-30
    price $92,000
29. 2022-09-12
    listed $102,000 Active
30. 2019-02-14
    soldstatus $75,000
31. 2019-02-13
    soldstatus $75,000 Sold
32. 2019-02-13
    soldstatus $75,000
33. 2019-01-28
    status Under Contract
34. 2018-10-26
    listed $79,000 Active
35. 2018-10-26
    listed $79,000
36. 2001-10-12
    soldstatus $134,500
37. 2001-03-29
    soldstatus $134,500

ⓘ 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: $1,364 · $114/mo
• Projected year-2 tax: $1,364 · $114/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: $28,682
• − Mortgage interest: −$6,890
• − Property taxes: −$1,364
• − Insurance: −$615
• − Repairs & maintenance: −$2,295
• − Management: −$2,295
• − HOA: −$5,628
• − Depreciation: −$3,578
• Taxable income: $6,018
• Est. tax owed @ 24.0%: −$1,444
• After-tax cash flow: $5,867/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

-8.6% since first listed

20 events — show timeline

• 2026-03-22 Listed $123,000 SAR
• 2023-07-10 Sold (Public Records) $90,000 Public Records
• 2023-07-06 Sold (MLS) $90,000 SAR
• 2023-07-06 Sold (MLS) $90,000 REColorado as Distributed by MLS Grid
• 2023-06-15 Pending — REColorado as Distributed by MLS Grid
• 2023-06-13 Listed $92,000 SAR
• 2023-06-13 Listed $92,000 REColorado as Distributed by MLS Grid
• 2023-03-31 Listing Removed — REColorado as Distributed by MLS Grid
• 2023-01-20 Listed $92,000 REColorado as Distributed by MLS Grid
• 2023-01-13 Listing Removed — REColorado as Distributed by MLS Grid
• 2022-11-30 Price Changed $92,000 REColorado as Distributed by MLS Grid
• 2022-09-12 Listed $102,000 REColorado as Distributed by MLS Grid
• 2019-02-14 Sold (Public Records) $75,000 Public Records
• 2019-02-13 Sold (MLS) $75,000 SAR
• 2019-02-13 Sold (MLS) $75,000 REColorado as Distributed by MLS Grid
• 2019-01-28 Pending — REColorado as Distributed by MLS Grid
• 2018-10-26 Listed $79,000 SAR
• 2018-10-26 Listed $79,000 REColorado as Distributed by MLS Grid
• 2001-10-12 Sold (Public Records) $134,500 Public Records
• 2001-03-29 Sold (Public Records) $134,500 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,364 · +56.2% YoY. Source: county tax records.