241 Mattapony Way · Red Feather Lakes, CO 80545

$380,000

2 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 81 Days on market

Built 2000 1.63 ac lot Est $418k · 9% under $144/mo HOA · 5% of rent

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Why this score? — see what drove the D 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).

• ARV discount +11.6/15.0
• Cash flow +10.3/30.0
• Appreciation +4.7/10.0
• Schools +4.5/10.0
• DSCR +2.9/10.0
• Livability +2.8/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautiful custom built home with a fantastic view. Wood interior, Hickory cabinets, Brazilian wood flooring, Custom tile, wood stove, covered porch. Community seasonal water plus a large cistern in the basement level for year round water usage. large area in the basement for parking atv, workshop, storage and whatever else is needed.

Key facts

• 1.63 acre lot
• Garage
• Built 2000

Property features AI

Finance

• Other: Community features include park and trails
• HOA & community: Has HOA (Crystal Lakes R&R); Annual HOA fee of $665; Additional annual fee of $1,060 (Crystal Lakes Water); HOA fees include trash and snow removal; Association transfer fees apply; Association maintains reserves

Exterior

• Parking: Attached garage (1 car, oversized); 631 sq. ft. garage
• Utilities: Cistern water source (meter installed); Septic tank sewer; Electricity available
• Home design: Single family residence; Two stories; Residential property
• Construction: Frame construction; Composition roof; Built previously (not new)
• Exterior features: Oversized garage; Wooded lot with evergreen and deciduous trees; Minimal flood risk or C-rating

Interior

• Kitchen: Electric range; Refrigerator; Microwave
• Bedrooms: 2 bedrooms (all bedrooms conform to code)
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating
• Interior features: Free standing fireplace; Deck

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $380k.

Deal economics

• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $343k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (23.9% below list).
• Recommended offer: $289k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.2% 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: Traut Core Elementary School (math 67% / reading 77%, grade A-, #26 of 966 statewide, top 4%, 502 students, 12% FRL); Kinard Core Knowledge Middle School (math 61% / reading 77%, grade A, #8 of 270 statewide, top 3%, 748 students, 7% FRL); Poudre High School (math 36% / reading 59%, grade D, #131 of 381 statewide, top 34%, 1,663 students, 38% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: 155 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 $511 of equity ($3k loan paydown + $-2k appreciation (-0.6% local appreciation)).
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($357k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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 $190k; list at $380k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $289,061 (23.9% below list)

Questions for the listing agent

1. 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?
2. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.38%
• DSCR: 0.89
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $417,600
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
292 Jicarilla Trl	0.24mi	2/2.0	1,180 (-2%)	15mo	$383,500	$325	69
134 Swift Deer Rd	0.71mi	3/1.0 (+1)	1,150 (-4%)	7mo	$400,000	$348	49
280 Navajo Rd	0.62mi	2/1.0	1,144 (-5%)	19mo	$414,000	$362	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -7.2%
• Equity multiple: 0.68×
• Total profit: $-34,450
• Equity at exit: $99,878

10-year hold

• IRR: -0.8%
• Equity multiple: 0.92×
• Total profit: $-8,466
• Equity at exit: $111,998

Cash invested: $106,400 (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: 155
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,891 medium
• Mortgage (P&I): −$1,993
• Tax from tax record: −$200 /mo · $2,398/yr
• Insurance: −$158
• HOA: −$144
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $-211

Break-even live

Break-even rent $3,158

Max offer price $342,660

Occupancy floor —

Sensitivity live

Price	-10% $4	-5% $-104	+0% $-211	+5% $-319	+10% $-426
Rent	-10% $-440	-5% $-326	+0% $-211	+5% $-97	+10% $17
Rate	-1.0pp $-20	-0.5pp $-115	base $-211	+0.5pp $-310	+1.0pp $-410

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: $95,000
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $144 · $1,728/yr
• Likely covers: water

Listing history 36 events

1. 2026-06-21
   days on market $380,000 Active 81 DOM
2. 2026-06-18
   days on market $380,000 Active 78 DOM
3. 2026-06-17
   days on market $380,000 Active 77 DOM
4. 2026-06-16
   days on market $380,000 Active 76 DOM
5. 2026-06-15
   days on market $380,000 Active 75 DOM
6. 2026-06-14
   days on market $380,000 Active 73 DOM
7. 2026-06-10
   days on market $380,000 Active 70 DOM
8. 2026-06-09
   days on market $380,000 Active 69 DOM
9. 2026-06-08
   days on market $380,000 Active 68 DOM
10. 2026-06-07
    pricedays on market $380,000 Active 67 DOM
11. 2026-06-03
    days on market $390,000 Active 63 DOM
12. 2026-06-02
    days on market $390,000 Active 62 DOM
13. 2026-06-01
    days on market $390,000 Active 61 DOM
14. 2026-05-31
    days on market $390,000 Active 60 DOM
15. 2026-05-30
    days on market $390,000 Active 59 DOM
16. 2026-04-01
    listed $390,000 Active
17. 2026-02-02
    historical
18. 2025-10-22
    price $390,000
19. 2025-04-18
    listed $400,000 Active
20. 2018-06-04
    soldstatus $190,000
21. 2018-06-01
    soldstatus $190,000 Sold 335-char remark

    Show marketing remark (335 chars)

    Beautiful custom built home with a fantastic view. Wood interior, Hickory cabinets, Brazilian wood flooring, Custom tile, wood stove, covered porch. Community seasonal water plus a large cistern in the basement level for year round water usage. large area in the basement for parking atv, workshop, storage and whatever else is needed.

22. 2018-05-14
    historical Active - Backup 335-char remark

    Show marketing remark (335 chars)

    Beautiful custom built home with a fantastic view. Wood interior, Hickory cabinets, Brazilian wood flooring, Custom tile, wood stove, covered porch. Community seasonal water plus a large cistern in the basement level for year round water usage. large area in the basement for parking atv, workshop, storage and whatever else is needed.

23. 2018-05-07
    listed $198,000 Active 335-char remark

    Show marketing remark (335 chars)

    Beautiful custom built home with a fantastic view. Wood interior, Hickory cabinets, Brazilian wood flooring, Custom tile, wood stove, covered porch. Community seasonal water plus a large cistern in the basement level for year round water usage. large area in the basement for parking atv, workshop, storage and whatever else is needed.

24. 2018-03-28
    historical
25. 2017-08-23
    price $199,900
26. 2017-06-23
    price $204,900
27. 2017-06-01
    price $209,900
28. 2017-04-08
    listed $212,200 Active
29. 2016-11-01
    historical
30. 2016-08-09
    listed $204,900 Active
31. 2010-09-30
    soldstatus $156,500
32. 2010-09-28
    soldstatus $156,500
33. 2009-06-23
    listed $159,900
34. 2008-09-30
    historical
35. 2007-07-31
    listed $199,000
36. 1996-06-01
    soldstatus $13,500

ⓘ 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: $2,398 · $200/mo
• Projected year-2 tax: $2,398 · $200/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 6/10 Major
• 🌡 Heat 1/10 Low
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,687
• − Mortgage interest: −$21,286
• − Property taxes: −$2,398
• − Insurance: −$1,900
• − Repairs & maintenance: −$2,775
• − Management: −$2,775
• − HOA: −$1,728
• − Depreciation: −$11,055
• Taxable loss: −$9,229
• Est. tax savings @ 24.0%: +$2,215
• After-tax cash flow: $-321/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

• 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

+2788.9% since first listed

21 events — show timeline

• 2026-04-01 Listed $390,000 IRES
• 2026-02-02 Listing Removed — IRES
• 2025-10-22 Price Changed $390,000 IRES
• 2025-04-18 Listed $400,000 IRES
• 2018-06-04 Sold (Public Records) $190,000 Public Records
• 2018-06-01 Sold (MLS) $190,000 IRES
• 2018-05-14 Contingent — IRES
• 2018-05-07 Listed $198,000 IRES
• 2018-03-28 Listing Removed — IRES
• 2017-08-23 Price Changed $199,900 IRES
• 2017-06-23 Price Changed $204,900 IRES
• 2017-06-01 Price Changed $209,900 IRES
• 2017-04-08 Listed $212,200 IRES
• 2016-11-01 Listing Removed — IRES
• 2016-08-09 Listed $204,900 IRES
• 2010-09-30 Sold (Public Records) $156,500 Public Records
• 2010-09-28 Sold (MLS) $156,500 IRES
• 2009-06-23 Listed $159,900 IRES
• 2008-09-30 Listing Removed — IRES
• 2007-07-31 Listed $199,000 IRES
• 1996-06-01 Sold (Public Records) $13,500 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,398 · +25.9% YoY. Source: county tax records.