90 Letitia Dr · Red Feather Lakes, CO 80545

$199,990

2 bd · 1.0 ba · 760 sqft · Other public records · 35 Days on market

Built 1977 0.38 ac lot

---

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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Appreciation +4.7/10.0
• Schools +4.5/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 90 Letitia Drive in Red Feathers, CO! Experience the serene beauty of mountain living with this charming cabin-style home set on a spacious 16,404 square foot lot, which includes an adjacent lot for added privacy and potential. This cozy residence boasts 2 bedrooms, 1 full bathroom, and exudes rustic charm with its cabin vibes. Located in close proximity to all that Red Feathers Lakes has to offer, just walking distance to Dowdy Lake and a golf course just a short drive around the corner, this property is ideal for those seeking tranquility and outdoor adventures. Enjoy the convenience of being within walking distance to the community market and anticipate the arrival of new restaurants in the area. Don't miss this opportunity to make 90 Letitia Drive your haven in the mountains - where nature meets comfort and adventure awaits at your doorstep. Schedule a showing today and experience the allure of mountain living firsthand!

Key facts

• Cabin style home
• Spacious lot
• 0.38 acre lot

Tags

• CABIN STYLE HOME
• SPACIOUS LOT
• WALKING DISTANCE TO DOWDY LAKE
• SHORT DRIVE TO GOLF COURSE

Property features AI

Finance

• Other: Zoning: O
• Financial info: One total unit (single-family property)

Exterior

• Parking: Parking for 4 vehicles
• Utilities: Well water; Septic tank; Electricity available
• Home design: Single-family residence; One story; Fixer condition; Property unattached; Individual ownership; Facing information not provided
• Construction: House with wood siding; Structural foundation; Composition roof; Built year not provided
• Exterior features: Private yard; Front porch; Lot with many trees, mountainous terrain, and rock outcroppings; Subdividable lot

Interior

• Kitchen: Kitchen with range, microwave, and refrigerator
• Bedrooms: Two bedrooms on the main level
• Flooring: Carpet; Wood
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heating
• Interior features: Microwave, Range, Refrigerator; Carpet and wood flooring; Wood-burning fireplace in the family room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $836 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 4.1% in Red Feather Lakes — 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 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).

Forward outlook

• In year one you build about $268 of equity ($1k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $168k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $193,990 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.33% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.92%
• DSCR: 1.80
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.75×
• Total profit: $42,190
• Equity at exit: $52,565

10-year hold

• IRR: 21.3%
• Equity multiple: 3.24×
• Total profit: $125,702
• Equity at exit: $58,943

Cash invested: $55,997 (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 80545

• Home prices YoY: -0.2%
• Active inventory: 154
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,655 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$130 /mo · $1,554/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $836

Break-even live

Break-even rent $1,597

Max offer price $199,990

Occupancy floor 64%

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: $49,998
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   status $199,990 Pending 35 DOM
2. 2026-06-18
   days on market $199,990 Active 35 DOM
3. 2026-06-17
   days on market $199,990 Active 34 DOM
4. 2026-06-16
   days on market $199,990 Active 33 DOM
5. 2026-06-15
   days on market $199,990 Active 32 DOM
6. 2026-06-14
   days on market $199,990 Active 30 DOM
7. 2026-06-10
   days on market $199,990 Active 27 DOM
8. 2026-06-09
   days on market $199,990 Active 26 DOM
9. 2026-06-08
   days on market $199,990 Active 25 DOM
10. 2026-06-07
    days on market $199,990 Active 24 DOM
11. 2026-06-03
    days on market $199,990 Active 20 DOM
12. 2026-06-02
    days on market $199,990 Active 19 DOM
13. 2026-06-01
    days on market $199,990 Active 18 DOM
14. 2026-05-31
    days on market $199,990 Active 17 DOM
15. 2026-05-30
    days on market $199,990 Active 16 DOM
16. 2026-05-14
    listed $199,990 Active 959-char remark

    Show marketing remark (959 chars)

    Welcome to 90 Letitia Drive in Red Feathers, CO! Experience the serene beauty of mountain living with this charming cabin-style home set on a spacious 16,404 square foot lot, which includes an adjacent lot for added privacy and potential. This cozy residence boasts 2 bedrooms, 1 full bathroom, and exudes rustic charm with its cabin vibes. Located in close proximity to all that Red Feathers Lakes has to offer, just walking distance to Dowdy Lake and a golf course just a short drive around the corner, this property is ideal for those seeking tranquility and outdoor adventures. Enjoy the convenience of being within walking distance to the community market and anticipate the arrival of new restaurants in the area. Don't miss this opportunity to make 90 Letitia Drive your haven in the mountains - where nature meets comfort and adventure awaits at your doorstep. Schedule a showing today and experience the allure of mountain living firsthand!

17. 2026-05-14
    listed $199,990 Active 959-char remark

    Show marketing remark (959 chars)

    Welcome to 90 Letitia Drive in Red Feathers, CO! Experience the serene beauty of mountain living with this charming cabin-style home set on a spacious 16,404 square foot lot, which includes an adjacent lot for added privacy and potential. This cozy residence boasts 2 bedrooms, 1 full bathroom, and exudes rustic charm with its cabin vibes. Located in close proximity to all that Red Feathers Lakes has to offer, just walking distance to Dowdy Lake and a golf course just a short drive around the corner, this property is ideal for those seeking tranquility and outdoor adventures. Enjoy the convenience of being within walking distance to the community market and anticipate the arrival of new restaurants in the area. Don't miss this opportunity to make 90 Letitia Drive your haven in the mountains - where nature meets comfort and adventure awaits at your doorstep. Schedule a showing today and experience the allure of mountain living firsthand!

18. 2025-11-30
    historical
19. 2025-11-30
    historical
20. 2025-10-01
    price $285,000
21. 2025-10-01
    price $285,000
22. 2025-08-05
    price $293,500
23. 2025-08-05
    price $293,500
24. 2025-07-16
    price $304,990
25. 2025-07-16
    price $304,990
26. 2025-06-11
    price $314,500
27. 2025-06-11
    price $314,500
28. 2025-04-18
    listed $339,990 Active
29. 2025-04-18
    listed $339,990 Active
30. 2006-09-25
    soldstatus $167,890
31. 2006-04-27
    listed $179,000
32. 2006-04-20
    historical
33. 2005-11-06
    listed $197,000
34. 1994-07-01
    soldstatus $47,000

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

Tax reassessment forecast CO · Resets to sale price

• Current annual tax: $1,554 · $130/mo
• Projected year-2 tax: $1,554 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 1/10 Low 7 d/yr ≥81°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 26 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,864
• − Mortgage interest: −$11,203
• − Property taxes: −$1,554
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,549
• − Management: −$2,549
• − Depreciation: −$5,818
• Taxable income: $7,191
• Est. tax owed @ 24.0%: −$1,726
• After-tax cash flow: $8,307/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: Poudre School District R-1
• NCES district ID: 0803990
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 60% ▼ -2.00%
• Median HH income: $57,281
• Composite: 45.5/100
• National rank: #2610
• State rank: #10 of 86 in CO

Livability — Red Feather Lakes

• Score: 55/100
• State rank: #344
• US rank: #23247

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Feather Lakes, CO
• Population (ZIP): 913

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 (97%)
• Race & ethnicity: White 97% Hispanic / Latino 3%
• Common ancestry: Portuguese 3% Italian 2% Slovak 1%
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -0.56%
• Current HPI: 280.4591
• Rent YoY: —
• Metro: —
• 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

+325.5% since first listed

19 events — show timeline

• 2026-05-14 Listed $199,990 IRES
• 2026-05-14 Listed $199,990 REColorado as Distributed by MLS Grid
• 2025-11-30 Listing Removed — IRES
• 2025-11-30 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-10-01 Price Changed $285,000 IRES
• 2025-10-01 Price Changed $285,000 REColorado as Distributed by MLS Grid
• 2025-08-05 Price Changed $293,500 IRES
• 2025-08-05 Price Changed $293,500 REColorado as Distributed by MLS Grid
• 2025-07-16 Price Changed $304,990 IRES
• 2025-07-16 Price Changed $304,990 REColorado as Distributed by MLS Grid
• 2025-06-11 Price Changed $314,500 IRES
• 2025-06-11 Price Changed $314,500 REColorado as Distributed by MLS Grid
• 2025-04-18 Listed $339,990 IRES
• 2025-04-18 Listed $339,990 REColorado as Distributed by MLS Grid
• 2006-09-25 Sold (MLS) $167,890 IRES
• 2006-04-27 Listed $179,000 IRES
• 2006-04-20 Listing Removed — IRES
• 2005-11-06 Listed $197,000 IRES
• 1994-07-01 Sold (Public Records) $47,000 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,554 · +23.3% YoY. Source: county tax records.