330 E Stewart Dr

Pueblo West, CO 81007

$254,900F

3 bd · 2.0 ba · 1,653 sqft · Built 1997 · Manufactured · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,973/mo
• Mortgage (P&I): −$1,337
• Tax + insurance: −$245
• HOA: −$0
• Vac / Maint / Mgmt: −$414
• Net cashflow: $-24/mo
• Annual: $-282/yr
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• 1% rule: 0.77%
• Cash to close: $71,372

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $255k.
• At list price, monthly cash flow is $-24 ($-282/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (22.6% below list).
• It's been on market 38 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $197k (22.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#189 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+; Watch: health & safety C-, schools D+, crime 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.
• Market conditions: Rents soft (-0.1%/yr); 633 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 2 sale attempts since 22y 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 $64k; list at $255k implies a 298% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 3.6% in Pueblo West — 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 38 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• 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.
• 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.