3202 Carson Ave · Evans, CO 80620

$850,000

6 bd · 4.0 ba · 2,328 sqft · MultiFamily public records · 80 Days on market

Built 1937 ↓ 43% since listing

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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 +25.5/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This rare 2.2-acre property presents an exceptional opportunity for investors, developers, or visionary buyers seeking a versatile and high-potential asset. Currently, the site includes three single-family residences, a fourplex, and a two-story workshop that offers additional value-add potential-ideal for renovation or conversion into a duplex or another fourplex, subject to approvals. With ample space and multiple existing structures, the property is well-suited for redevelopment, expansion, or a comprehensive reconfiguration. Whether you choose to enhance the current improvements or pursue a new multi-unit development, the possibilities are substantial. Opportunities of this scale and flexibility are increasingly rare. Don't miss the chance to capitalize on this unique offering and unlock its full potential.

Key facts

• 8 parking spots
• Built 1937
• Listed 80 days

Property features AI

Finance

• Other: Property marketed as residential income; Listed as estate
• Financial info: Month-to-month leases (current lease term); Lease expiration listed as 2026-03-30; Tax year 2025

Exterior

• Parking: 8 parking spaces
• Utilities: Public sewer
• Home design: Quadruplex residential income property; Unattached property; One level; Estate ownership
• Construction: Frame construction; Built area 3,756 (per public records); Above-grade finished area 2,592
• Exterior features: Shingle roof; Public water

Interior

• Bedrooms: 10 total bedrooms
• Bathrooms: 6 total bathrooms
• Heating & cooling: Forced air heating
• Interior features: Unfinished basement; Fixer condition

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $850k).
• Recommended offer: $799k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.8% in Evans — 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 69/100 on livability (#104 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+; Watch: crime C-, amenities F, health & safety F.
• Greeleyschool District No. 6 In The County Of Weld And Sta (urban): math 15% / reading 31% proficiency, ranked #71 of 86 in CO (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Centennial Elementary School (math 15% / reading 22%, grade F, #724 of 966 statewide, top 77%, 457 students, 86% FRL); Greeley West High School (math 20% / reading 39%, grade F, #244 of 381 statewide, top 66%, 1,885 students, 64% FRL) — zoned schools average 75% FRL vs 54% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.8%/yr); 120 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,170 units permitted in Weld County in 2024 (278 in 5+ unit buildings).
• At $8,902/mo this rent would consume 145% of the median local household income ($74k/yr) (locally 420% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Weld County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($799k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $799,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.96%
• DSCR: 1.44
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.84×
• Total profit: $-38,429
• Equity at exit: $126,738

10-year hold

• IRR: 1.8%
• Equity multiple: 1.11×
• Total profit: $26,163
• Equity at exit: $73,492

Cash invested: $238,000 (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 80620

• Home prices YoY: -20.9%
• Rents YoY: -1.8%
• Active inventory: 120
• Price-to-rent: 47.7×

Monthly cashflow live

• Estimated rent: $8,902 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$246 /mo · $2,956/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,869
• Net cashflow: $1,975

Break-even live

Break-even rent $6,403

Max offer price $850,000

Occupancy floor 73%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$8,904
Total (6 units)			$8,902

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2008 26th Street Rd Greeley, CO	5.0	2.0	2052	$2,395	$1.17	23d	1	0.88mi
2438 17th Ave Greeley, CO	5.0	2.0	1877	$2,300	$1.23	21d	1	1.04mi

Listing history 26 events

1. 2026-06-18
   days on market $850,000 Active 80 DOM
2. 2026-06-17
   days on market $850,000 Active 79 DOM
3. 2026-06-16
   days on market $850,000 Active 78 DOM
4. 2026-06-15
   days on market $850,000 Active 77 DOM
5. 2026-06-14
   days on market $850,000 Active 75 DOM
6. 2026-06-10
   days on market $850,000 Active 72 DOM
7. 2026-06-09
   days on market $850,000 Active 71 DOM
8. 2026-06-08
   days on market $850,000 Active 70 DOM
9. 2026-06-07
   days on market $850,000 Active 69 DOM
10. 2026-06-03
    days on market $850,000 Active 65 DOM
11. 2026-06-02
    days on market $850,000 Active 64 DOM
12. 2026-06-01
    days on market $850,000 Active 63 DOM
13. 2026-05-31
    days on market $850,000 Active 62 DOM
14. 2026-05-30
    days on market $850,000 Active 61 DOM
15. 2026-03-30
    listed $850,000 Active 828-char remark

    Show marketing remark (828 chars)

    This rare 2.2-acre property presents an exceptional opportunity for investors, developers, or visionary buyers seeking a versatile and high-potential asset. Currently, the site includes three single-family residences, a fourplex, and a two-story workshop that offers additional value-add potential-ideal for renovation or conversion into a duplex or another fourplex, subject to approvals. With ample space and multiple existing structures, the property is well-suited for redevelopment, expansion, or a comprehensive reconfiguration. Whether you choose to enhance the current improvements or pursue a new multi-unit development, the possibilities are substantial. Opportunities of this scale and flexibility are increasingly rare. Don't miss the chance to capitalize on this unique offering and unlock its full potential.

16. 2026-03-30
    listed $850,000 Active 828-char remark

    Show marketing remark (828 chars)

    This rare 2.2-acre property presents an exceptional opportunity for investors, developers, or visionary buyers seeking a versatile and high-potential asset. Currently, the site includes three single-family residences, a fourplex, and a two-story workshop that offers additional value-add potential-ideal for renovation or conversion into a duplex or another fourplex, subject to approvals. With ample space and multiple existing structures, the property is well-suited for redevelopment, expansion, or a comprehensive reconfiguration. Whether you choose to enhance the current improvements or pursue a new multi-unit development, the possibilities are substantial. Opportunities of this scale and flexibility are increasingly rare. Don't miss the chance to capitalize on this unique offering and unlock its full potential.

17. 2026-03-30
    listed $850,000 Active 828-char remark

    Show marketing remark (828 chars)

    This rare 2.2-acre property presents an exceptional opportunity for investors, developers, or visionary buyers seeking a versatile and high-potential asset. Currently, the site includes three single-family residences, a fourplex, and a two-story workshop that offers additional value-add potential-ideal for renovation or conversion into a duplex or another fourplex, subject to approvals. With ample space and multiple existing structures, the property is well-suited for redevelopment, expansion, or a comprehensive reconfiguration. Whether you choose to enhance the current improvements or pursue a new multi-unit development, the possibilities are substantial. Opportunities of this scale and flexibility are increasingly rare. Don't miss the chance to capitalize on this unique offering and unlock its full potential.

18. 2026-03-30
    listed $850,000 Active 828-char remark

    Show marketing remark (828 chars)

    This rare 2.2-acre property presents an exceptional opportunity for investors, developers, or visionary buyers seeking a versatile and high-potential asset. Currently, the site includes three single-family residences, a fourplex, and a two-story workshop that offers additional value-add potential-ideal for renovation or conversion into a duplex or another fourplex, subject to approvals. With ample space and multiple existing structures, the property is well-suited for redevelopment, expansion, or a comprehensive reconfiguration. Whether you choose to enhance the current improvements or pursue a new multi-unit development, the possibilities are substantial. Opportunities of this scale and flexibility are increasingly rare. Don't miss the chance to capitalize on this unique offering and unlock its full potential.

19. 2026-03-29
    historical $850,000 828-char remark

    Show marketing remark (828 chars)

    This rare 2.2-acre property presents an exceptional opportunity for investors, developers, or visionary buyers seeking a versatile and high-potential asset. Currently, the site includes three single-family residences, a fourplex, and a two-story workshop that offers additional value-add potential-ideal for renovation or conversion into a duplex or another fourplex, subject to approvals. With ample space and multiple existing structures, the property is well-suited for redevelopment, expansion, or a comprehensive reconfiguration. Whether you choose to enhance the current improvements or pursue a new multi-unit development, the possibilities are substantial. Opportunities of this scale and flexibility are increasingly rare. Don't miss the chance to capitalize on this unique offering and unlock its full potential.

20. 2026-03-29
    historical $850,000 828-char remark

    Show marketing remark (828 chars)

    This rare 2.2-acre property presents an exceptional opportunity for investors, developers, or visionary buyers seeking a versatile and high-potential asset. Currently, the site includes three single-family residences, a fourplex, and a two-story workshop that offers additional value-add potential-ideal for renovation or conversion into a duplex or another fourplex, subject to approvals. With ample space and multiple existing structures, the property is well-suited for redevelopment, expansion, or a comprehensive reconfiguration. Whether you choose to enhance the current improvements or pursue a new multi-unit development, the possibilities are substantial. Opportunities of this scale and flexibility are increasingly rare. Don't miss the chance to capitalize on this unique offering and unlock its full potential.

21. 2022-09-13
    historical
22. 2022-09-13
    historical
23. 2022-07-29
    price $1,300,000
24. 2022-07-15
    price $1,475,000
25. 2022-06-24
    listed $1,500,000 Active
26. 2022-06-24
    listed $1,300,000 Active

ⓘ 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: $2,956 · $246/mo
• Projected year-2 tax: $4,675 · $390/mo
• Expected delta: +$1,719/yr (+$143/mo · 58.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $106,824
• − Mortgage interest: −$47,613
• − Property taxes: −$2,956
• − Insurance: −$4,250
• − Repairs & maintenance: −$8,546
• − Management: −$8,546
• − Depreciation: −$24,727
• Taxable income: $10,186
• Est. tax owed @ 24.0%: −$2,445
• After-tax cash flow: $21,251/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: Greeleyschool District No. 6 In The County Of Weld And Sta
• NCES district ID: 0804410
• Math proficiency: 15% ▼ -7.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $46,417
• Composite: 19.99/100
• National rank: #8667
• State rank: #71 of 86 in CO

Livability — Evans

• Score: 69/100
• State rank: #104
• US rank: #9005

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evans, CO
• County: Weld County · 332,652 people
• City population: 20,798
• Metro: Greeley, CO
• Population (ZIP): 20,798
• Household income: $73,590
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 420.0

Population outlook (Weld County) Hauer SSP2

• Today (2025): 351,957 people
• By 2030: 385,304 · +9.5%
• By 2040: 451,818 · +28.4%
• By 2050: 514,478 · +46.2%
• By 2075: 648,733 · +84.3%
• By 2100: 720,400 · +104.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 48% White 45% Two or more races 17% Black 2% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Serbian 2% Romanian 1% Lithuanian 1%
• Foreign-born: 16% · Canada, South Korea, China
• Languages at home: 67% English-only · Spanish 31% Other Asian/Pacific 1%

Political lean MEDSL · Weld

• 2024 margin: Strong R (+21.0) · D 38.2% · R 59.2% · Other 2.6%
• 2008→2024 swing: -12.2pp toward R · 2008: -8.7pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+18.0 2016: R+22.4 2012: R+13.2 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.36%
• Current HPI: 330.6379
• Rent YoY: ▼ -1.78%
• Metro: Greeley, 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

-43.3% since first listed

12 events — show timeline

• 2026-03-30 Listed $850,000 IRES
• 2026-03-30 Listed $850,000 IRES
• 2026-03-30 Listed $850,000 REColorado as Distributed by MLS Grid
• 2026-03-30 Listed $850,000 REColorado as Distributed by MLS Grid
• 2026-03-29 Coming Soon $850,000 REColorado as Distributed by MLS Grid
• 2026-03-29 Coming Soon $850,000 REColorado as Distributed by MLS Grid
• 2022-09-13 Listing Removed — IRES
• 2022-09-13 Listing Removed — REColorado as Distributed by MLS Grid
• 2022-07-29 Price Changed $1,300,000 REColorado as Distributed by MLS Grid
• 2022-07-15 Price Changed $1,475,000 REColorado as Distributed by MLS Grid
• 2022-06-24 Listed $1,300,000 IRES
• 2022-06-24 Listed $1,500,000 REColorado as Distributed by MLS Grid

Property tax history

+7.9%/yr

Latest (2025): $2,956 · +14.5% YoY. Source: county tax records.