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$515,000

For Sale - Active
741 Hickory Dr, Lyons, CO 80540
3 Beds
1 Bath
1,032 Square Feet
0.64 Acres Lot
Built in 1974
For Sale - Active
1 Units
Checked: 1 day ago
Updated: Jun 24, 2025 at 03:16AM

Investment Summary


Monthly Cash Flow
-$1,261
Cap Rate
3.3%
Cash-on-Cash Return
-12.8%
Debt Coverage Ratio
0.53
Internal Rate of Return (5 years)
-8.4%

Property Description


0.64 Acres Lot
Built in 1974
For Sale - Active
1 Units

Your Dream of a Cabin on a Mountain Lake came true! This classic Big Elk Meadows Lakefront Cabin in the woods, Perched above Mirror Lake in this fun-filled mountain community, has wonderful views of the surrounding mountains & lakes. Big Elk is a gateway to adventure & the wonders of nature, and your new mountain retreat's private location offers serenity and relaxation on the big deck overlooking the lake. There will be summertime days filled with hiking & biking, fishing & birdwatching, SUPing, canoeing, Family Pickle Ball tournaments, hanging with the kids by the heated pool, yard games, card games, puzzles, & S'Mores! Your Rocky Mountain Lake Cabin will be the source of many memories. This is a playground for those who appreciate the great outdoors, & its location opens the door to endless adventure, right in your backyard. For the seasoned hiker, wildlife enthusiast, or those seeking the solace of nature, the neighboring mountains offer a myriad of trails, lakes, and vistas to explore. There are 4WD trails just down the road in the Johnny Park area of Roosevelt National Forest. Rocky Mountain National Park, Estes Park & Lyons are all about 1/2 hour away. This little community is the embodiment of mountain lifestyle. Whether you're searching for a weekend retreat, a seasonal getaway, or a year-round residence, this property is a rare opportunity to leave the pavement & worries behind, breathe fresh mountain air, & immerse yourself in the timeless beauty of the Rocky Mountains. Snow is in the air and the cool night's are refreshing so come on up and see this Big Elk gem!

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Location


Property Details


Parking

  • Description: Covered, Garage
  • Garage Spaces: 1
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 2
  • Basement Description: None
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood Siding
  • Roof Type: Gable
  • Roof Material: Metal
  • Pool: Yes

HOA

  • Has HOA: Yes
  • Association: Big Elk Meadows
  • HOA Fee: $310/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 2435314010
  • Lot Size: 27878 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1974

Tax Information

  • Annual Tax: $2,321

Utilities

  • Water & Sewer: Public
  • Heating: Fireplace Insert, Baseboard, Wood Stove
  • Cooling: Ceiling Fan(s)

Location

  • County: Larimer

Listing Details


Listed by:
Tom Thomas
First Colorado Realty
(970) 481-3619

Source:
REColorado
MLS#: IR1031870
REColorado

Investment Summary


Monthly Cash Flow
-$1,261
Cap Rate
3.3%
Cash-on-Cash Return
-12.8%
Debt Coverage Ratio
0.53
Internal Rate of Return (5 years)
-8.4%

Purchase Details

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Purchase price:
$515,000
Amount financed:
-$412,000
Down payment:
$103,000
Closing costs:
$15,450
Rehab costs:
$0
Initial cash invested:
$118,450
Square feet:
1,032
Cost per square foot:
$499
Monthly rent per square foot:
$2.71

Financing Details

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Loan amount:
$412,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$2,689
Property tax:
$194
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,079

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,800 $33,600
Vacancy loss: (6%)
6% -$168 -$2,016
Operating income:
$2,632 $31,584

Operating Expenses


% Rent Monthly Yearly
Property taxes: (7%)
7%-$194-$2,322
Insurance: (7%)
7%-$196-$2,352
Property management: (8%)
8%-$224-$2,688
Repairs & maintenance: (5%)
5%-$140-$1,680
Capital expenditures: (5%)
5%-$140-$1,680
HOA fees: (11%)
11%-$310-$3,720
Total operating expenses: (43%)
43%-$1,204-$14,442

Cash Flow


Monthly Yearly
Net operating income:
$1,428 $17,136
Mortgage payments:
-$2,689 -$32,268
Cash flow:
$1,261 $15,132