720 City Park Ave Unit A-A113

Fort Collins, CO 80521

$285,000F

2 bd · 2.0 ba · 846 sqft · Built 1984 · SingleFamily · Active · 139 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,627/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$475
• HOA: −$320
• Vac / Maint / Mgmt: −$342
• Net cashflow: $-1,004/mo
• Annual: $-12,054/yr
• Cap rate: 2.06%
• Cash-on-cash: -15.11%
• DSCR: 0.33
• 1% rule: 0.57%
• Cash to close: $79,800

Investor read

• This is a 2-bed/2.0-bath single-family listed at $285k. Condition is rated fair.
• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (51.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (42.9% below list).
• It's been on market 139 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (51.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Dunn Elementary School (math 44% / reading 72%, grade B-, #107 of 966 statewide, top 12%, 389 students, 23% 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 23% FRL track the district average.
• Market conditions: Rents rising fast (+5.0%/yr); 171 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 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.
• Cap rate 2.1% vs local median 2.7% in Fort Collins — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 34% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 139 days. Have you received any prior offers? Is the seller open to a 51% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — dated and in poor condition
• Major: kitchen countertops — dated and in poor condition
• Major: kitchen appliances — dated and in poor condition
• Minor: bathroom fixtures — basic and slightly worn