2500 E Harmony Rd #178 · Fort Collins, CO 80528

$50,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 144 Days on market

Built 1978 ↓ 38% since listing

---

Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Appreciation +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this beautifully updated 2-bedroom, 1-bath mobile home, built in 1978 and thoughtfully refreshed with modern features for today's comfort. Located in a well-maintained community, this home offers excellent value and style for first-time buyers, downsizers, or investors. Step inside to find brand-new interior paint, new wood flooring, and newer insulation and drywall, giving the home a clean, modern feel. The remodeled tile bathroom adds a touch of elegance, while the new kitchen cabinets are ready for your personal touch-paint and style them your way to make it your own!Enjoy year-round comfort with a double ceiling key system that effectively heats and cools the interior. Major

Key facts

• Updated mobile home
• New wood flooring
• Newer insulation

Tags

• UPDATED MOBILE HOME
• WELL MAINTAINED COMMUNITY
• BRAND NEW INTERIOR PAINT
• NEW WOOD FLOORING
• NEWER INSULATION
• REMODELED TILE BATHROOM

Property features AI

Finance

• HOA & community: No association fees or transfer fees

Exterior

• Parking: No garage
• Utilities: Natural gas available (Xcel Energy); Electricity available
• Home design: Manufactured in park (mobile home)
• Construction: Frame construction; Composition roof
• Exterior features: Enclosed patio/porch

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wall/window cooling units
• Interior features: Fire alarm; Enclosed porch
• Laundry & utility: Water meter installed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 38.4% vs local median 2.6% in Fort Collins — 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 80/100 on livability (#11 in CO, #1,750 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living 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.
• Market conditions: Rents rising (+3.6%/yr); 189 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.4%/yr); year-one equity from $346 of loan paydown is wiped out by about $708 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 (-1.4% appreciation + 3.6% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

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

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1978 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 4.26% ✓
• Cap rate: 38.38%
• Cash-on-cash: 114.60%
• DSCR: 6.10
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.42% appreciation · 3.6% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.84×
• Total profit: $81,780
• Equity at exit: $11,078

10-year hold

• IRR: —
• Equity multiple: 14.54×
• Total profit: $189,491
• Equity at exit: $10,808

Cash invested: $14,000 (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 80528

• Home prices YoY: -0.6%
• Rents YoY: 3.6%
• Active inventory: 189
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $2,130 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $1,337

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,372	-5% $1,354	+0% $1,337	+5% $1,320	+10% $1,302
Rent	-10% $1,169	-5% $1,253	+0% $1,337	+5% $1,421	+10% $1,505
Rate	-1.0pp $1,362	-0.5pp $1,350	base $1,337	+0.5pp $1,324	+1.0pp $1,311

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2002 Battlecreek Dr Fort Collins, CO	1.0–2.0	1.0–2.0	929	$2,265	$2.44	14d	15	0.88mi
4545 Wheaton Dr Fort Collins, CO	1.0–3.0	1.0–2.0	903	$1,812	$2.01	14d	5	1.21mi
2212 Vermont Dr Fort Collins, CO	1.0–2.0	1.0–2.0	852	$2,089	$2.45	14d	7	1.31mi
4470 S Lemay Ave Fort Collins, CO	1.0–2.0	1.0–2.0	870	$2,229	$2.56	14d	10	1.35mi

Listing history 10 events

1. 2026-05-31
   days on market $50,000 Active 144 DOM
2. 2026-05-30
   days on market $50,000 Active 143 DOM
3. 2026-01-07
   status Active
4. 2026-01-07
   historical
5. 2026-01-07
   listed $50,000 Active
6. 2025-12-31
   historical
7. 2025-12-11
   price $60,000
8. 2025-10-17
   price $70,000
9. 2025-09-22
   price $75,000
10. 2025-06-10
    listed $80,000 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,557
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$2,045
• − Management: −$2,045
• − Depreciation: −$1,455
• Taxable income: $16,212
• Est. tax owed @ 24.0%: −$3,891
• After-tax cash flow: $12,152/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 — Fort Collins

• Score: 80/100
• State rank: #11
• US rank: #1750

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Collins, CO
• County: Larimer County · 338,255 people
• City population: 202,303
• Metro: Fort Collins, CO
• Population (ZIP): 24,960
• Household income: $130,350
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 378.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 12% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 3% Romanian 3%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 86% English-only · Spanish 4% Other Indo-European 4% Chinese 1%

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: ▼ -1.42%
• Current HPI: 244.4061
• Rent YoY: ▲ 3.60%
• 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

-37.5% since first listed

8 events — show timeline

• 2026-01-07 Relisted — IRES
• 2026-01-07 Listed $50,000 IRES
• 2026-01-07 Listing Removed — IRES
• 2025-12-31 Listing Removed — IRES
• 2025-12-11 Price Changed $60,000 IRES
• 2025-10-17 Price Changed $70,000 IRES
• 2025-09-22 Price Changed $75,000 IRES
• 2025-06-10 Listed $80,000 IRES

Property tax history

+6.1%/yr

Latest (2021): $48 · +8.2% YoY. Source: county tax records.