1212 Butte Rd #2 · Loveland, CO 80537

$69,999

2 bd · 1.0 ba · 624 sqft · Manufactured public records · 154 Days on market

Built 1973 ↓ 22% since listing

---

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
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

CHEAPEST LOT RENT AROUND!!! Lot #2 in Mountain View MHC is a beautiful, move-in ready home offering many desirable features. The exterior is well maintained and showcases durable Hardie board siding, adding both style and longevity. Inside, the home has been completely updated and thoughtfully refreshed throughout. Attractive vinyl flooring flows seamlessly through the entire home, complemented by fresh white paint that creates a bright and modern feel. Recessed can lighting is installed throughout, enhancing the open and inviting atmosphere. Abundant natural light fills the space, with window coverings already in place for added convenience. Both bedrooms feature the same stunning vinyl fl

Key facts

• Vinyl flooring
• Hardie board siding
• Built 1973

Tags

• HARDIE BOARD SIDING
• VINYL FLOORING
• RECESSED CAN LIGHTING
• BUILT-IN CLOSET ORGANIZATION

Property features AI

Finance

• Other: Built by Stylecraft

Exterior

• Parking: No garage; No designated parking
• Utilities: City water (meter installed); Natural gas available; Electricity available; Cable available
• Home design: Manufactured in-park home; Mobile home
• Construction: Vinyl siding; Metal roof
• Exterior features: Land lease

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Window coverings

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 2.9% in Loveland — 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 73/100 on livability (#52 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A; Watch: crime C-, commute F, cost of living F.
• Thompson School District R-2J (suburban): math 28% / reading 48% proficiency, ranked #28 of 86 in CO (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Namaqua Elementary School (math 34% / reading 37%, grade F, #422 of 966 statewide, top 44%, 252 students, 36% FRL); Thompson Valley High School (math 37% / reading 62%, grade D, #115 of 381 statewide, top 34%, 1,039 students, 31% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: Rents rising (+3.6%/yr); 283 active listings in the ZIP; solid renter incomes; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $16k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $61,599 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.08% ✓
• Cap rate: 17.75%
• Cash-on-cash: 40.93%
• DSCR: 2.82
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.57% rent growth · sell at horizon

5-year hold

• IRR: 38.1%
• Equity multiple: 2.64×
• Total profit: $32,098
• Equity at exit: $10,437

10-year hold

• IRR: 44.9%
• Equity multiple: 5.41×
• Total profit: $86,358
• Equity at exit: $6,052

Cash invested: $19,600 (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 80537

• Rents YoY: 3.6%
• Active inventory: 283
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,459 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $669

Break-even live

Break-even rent $612

Max offer price $69,999

Occupancy floor 49%

Sensitivity live

Price	-10% $717	-5% $693	+0% $669	+5% $644	+10% $620
Rent	-10% $553	-5% $611	+0% $669	+5% $726	+10% $784
Rate	-1.0pp $704	-0.5pp $686	base $669	+0.5pp $650	+1.0pp $632

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $69,999 Active 154 DOM
2. 2026-06-17
   days on market $69,999 Active 153 DOM
3. 2026-06-16
   days on market $69,999 Active 152 DOM
4. 2026-06-15
   days on market $69,999 Active 151 DOM
5. 2026-06-14
   days on market $69,999 Active 149 DOM
6. 2026-06-13
   days on market $69,999 Active 148 DOM
7. 2026-06-10
   days on market $69,999 Active 146 DOM
8. 2026-06-09
   days on market $69,999 Active 145 DOM
9. 2026-06-08
   days on market $69,999 Active 144 DOM
10. 2026-06-07
    days on market $69,999 Active 143 DOM
11. 2026-06-03
    days on market $69,999 Active 139 DOM
12. 2026-06-02
    days on market $69,999 Active 138 DOM
13. 2026-06-01
    days on market $69,999 Active 137 DOM
14. 2026-05-31
    days on market $69,999 Active 136 DOM
15. 2026-05-30
    days on market $69,999 Active 135 DOM
16. 2026-05-13
    price $69,999
17. 2026-04-10
    price $74,999
18. 2026-03-09
    price $79,999
19. 2026-01-15
    listed $85,999 Active
20. 2025-05-24
    historical $1,600
21. 2025-04-24
    listed $1,600
22. 2025-02-22
    historical $1,600
23. 2025-02-20
    listed $1,600
24. 2023-10-10
    status Pending
25. 2023-10-10
    historical
26. 2023-09-27
    listed $90,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,503
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$2,036
• Taxable income: $7,345
• Est. tax owed @ 24.0%: −$1,763
• After-tax cash flow: $6,259/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: Thompson School District R-2J
• NCES district ID: 0805400
• Math proficiency: 28% ▼ -7.00%
• Reading proficiency: 48% ▬ 0.00%
• Median HH income: $63,040
• Composite: 34.01/100
• National rank: #5313
• State rank: #28 of 86 in CO

Livability — Loveland

• Score: 73/100
• State rank: #52
• US rank: #5353

Category grades

Amenities A Commute F Cost of living F Crime C- Employment A- Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Larimer County · 338,255 people
• City population: 94,535
• Metro: Fort Collins, CO
• Population (ZIP): 44,425
• Household income: $86,325
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1703.0

Population outlook (Larimer County) Hauer SSP2

• Today (2025): 415,361 people
• By 2030: 457,762 · +10.2%
• By 2040: 542,310 · +30.6%
• By 2050: 627,048 · +51.0%
• By 2075: 833,722 · +100.7%
• By 2100: 952,590 · +129.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 8%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 4% Italian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Larimer

• 2024 margin: D (+17.6) · D 57.4% · R 39.8% · Other 2.9%
• 2008→2024 swing: +7.9pp toward D · 2008: 9.7pp · 2024: 17.6pp
• All cycles: 2024: D+17.6 2020: D+15.4 2016: D+4.9 2012: D+5.2 2008: D+9.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -606.26%
• Current HPI: 253.4939
• Rent YoY: ▲ 3.57%
• Metro: Fort Collins, 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

-22.2% since first listed

11 events — show timeline

• 2026-05-13 Price Changed $69,999 IRES
• 2026-04-10 Price Changed $74,999 IRES
• 2026-03-09 Price Changed $79,999 IRES
• 2026-01-15 Listed $85,999 IRES
• 2025-05-24 Rental Removed $1,600 TURBOTENANT
• 2025-04-24 Listed for Rent $1,600 TURBOTENANT
• 2025-02-22 Rental Removed $1,600 TURBOTENANT
• 2025-02-20 Listed for Rent $1,600 TURBOTENANT
• 2023-10-10 Pending — IRES
• 2023-10-10 Listing Removed — IRES
• 2023-09-27 Listed $90,000 IRES

Property tax history

+11.9%/yr

Latest (2021): $24 · +15.8% YoY. Source: county tax records.