2700 G Rd Unit 12C

Grand Junction, CO 81506

$249,000D

3 bd · 2.0 ba · 2,040 sqft · Built 1975 · Condo · Pending · 96 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,468/mo
• Mortgage (P&I): −$1,306
• Tax + insurance: −$183
• HOA: −$475
• Vac / Maint / Mgmt: −$518
• Net cashflow: $-14/mo
• Annual: $-172/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.25%
• DSCR: 0.99
• 1% rule: 0.99%
• Cash to close: $69,720

Investor read

• This is a 3-bed/2.0-bath condo listed at $249k.
• At list price, monthly cash flow is $-14 ($-172/yr) — negative.
• To cash-flow at today's rent, offer at most $246k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (0.9% below list).
• It's been on market 96 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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: Tope Elementary School (math 37% / reading 47%, grade F, #321 of 966 statewide, top 35%, 365 students, 44% FRL); Bookcliff Middle School (math 18% / reading 26%, grade F, #188 of 270 statewide, top 72%, 449 students, 59% FRL); Grand Junction High School (math 25% / reading 53%, grade F, #188 of 381 statewide, top 49%, 1,522 students, 36% FRL).
• Market conditions: 166 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• Current owner paid $153k; list at $249k implies a 63% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 4→10/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% 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.
• This rent runs 38% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?