672 Comanche Cir

Red Feather Lakes, CO 80545

$474,700D-

2 bd · 1.5 ba · 1,510 sqft · Built 1984 · SingleFamily · Active · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,031/mo
• Mortgage (P&I): −$2,489
• Tax + insurance: −$433
• HOA: −$107
• Vac / Maint / Mgmt: −$637
• Net cashflow: $-635/mo
• Annual: $-7,620/yr
• Cap rate: 4.69%
• Cash-on-cash: -5.73%
• DSCR: 0.74
• 1% rule: 0.64%
• Cash to close: $132,916

Investor read

• This is a 2-bed/1.5-bath single-family listed at $475k.
• At list price, monthly cash flow is $-635 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $363k (23.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $303k (36.1% below list).
• It's been on market 81 days — a 6% lower offer ($446k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $303k (36.1% below list) — sets the bar for 1% rule.
• In year one you build about $639 of equity ($3k loan paydown + $-3k appreciation (-0.6% local appreciation)).
• Location reads 55/100 on livability (#344 in CO) — a working-class tenant base; expect higher turnover. Strengths: employment B+, housing B+; Watch: cost of living C-, crime D-, amenities F.
• Poudre School District R-1 (urban): math 45% / reading 60% proficiency, ranked #10 of 86 in CO (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cache La Poudre Elementary School (math 44% / reading 37%, grade F, #342 of 966 statewide, top 36%, 298 students, 32% FRL); Cache La Poudre Middle School (math 37% / reading 52%, grade D, #56 of 270 statewide, top 23%, 324 students, 28% FRL); Poudre High School (math 36% / reading 59%, grade D, #131 of 381 statewide, top 34%, 1,663 students, 38% FRL).
• Market conditions: 154 active listings in the ZIP; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 15y 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 $180k; list at $475k implies a 164% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

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 81 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• Crime grade is D 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.