230 N 2nd St #88 · Berthoud, CO 80513

$80,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 21 Days on market

Built 2014 Est $67k · 20% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this beautiful newer mobile home. Open concept plan from kitchen to living room. Front bedroom close to back door for separate entrance if needed with it's own bathroom. 2nd bedroom and master in rear of home. Lots of space. Stacked washer/dryer included and very nice appliances. Large pine tree in side yard for plenty of shade in the summer months. Ready for move in. Come take a look. Lot rent is $450 monthly. No dogs allowed. Buyer to verify measurements.

Key facts

• Oversized shed
• Electricity
• Close to dining

Tags

• OVERSIZED SHED
• WORKSPACE
• ELECTRICITY
• CLOSE TO SHOPPING
• CLOSE TO DINING

Property features AI

Finance

• Other: Minimal flood risk (C rating)
• HOA & community: No association fees; No association transfer fee; No association reserves

Exterior

• Parking: No garage; No designated parking features
• Utilities: City water; Public sewer; Natural gas available; Electricity available; Cable available; No water meter installed; No water rights
• Home design: Manufactured in park (mobile home)
• Construction: Frame construction; Composition roof
• Exterior features: Land lease; Storage structure

Interior

• Kitchen: Gas Range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Gas Range; Dishwasher; Refrigerator; Washer; Dryer
• Laundry & utility: Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 30.9% vs local median 3.2% in Berthoud — 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 (#100 in CO) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A-; Watch: amenities F, cost of living F, health & safety F.
• Thompson School District R-2J (suburban): math 28% / reading 48% proficiency, ranked #28 of 86 in CO (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 357 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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 (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 29y 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 $55k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-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?
3. 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.
4. 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.
5. 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: 3.38% ✓
• Cap rate: 30.92%
• Cash-on-cash: 87.95%
• DSCR: 4.91
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $66,816
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 N 2nd St #83	0.00mi	3/2.0	1,056 (-8%)	1mo	$55,000	$52	85
235 N 2nd St #17	0.15mi	3/2.0	1,216 (+6%)	2mo	$83,000	$68	82
230 N 2nd St #50	0.00mi	3/2.0	1,216 (+6%)	12mo	$70,000	$58	80
227 N 2nd St #26	0.09mi	3/2.0	1,280 (+11%)	8mo	$122,000	$95	70
230 N 2nd St #4	0.00mi	2/1.5 (-1)	1,056 (-8%)	13mo	$49,000	$46	68
205 N 2nd St #12	0.09mi	2/2.0 (-1)	1,280 (+11%)	9mo	$57,000	$45	64
235 N 2nd St #16	0.15mi	3/2.0	1,290 (+12%)	17mo	$105,000	$81	59
235 N 2nd St	0.15mi	3/2.0	1,290 (+12%)	17mo	$105,000	$81	59
230 N 2nd St #10	0.00mi	2/1.0 (-1)	980 (-15%)	18mo	$52,000	$53	51

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

Projected returns pro-forma

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

5-year hold

• IRR: 88.5%
• Equity multiple: 5.09×
• Total profit: $91,600
• Equity at exit: $11,928

10-year hold

• IRR: 91.5%
• Equity multiple: 10.57×
• Total profit: $214,414
• Equity at exit: $6,917

Cash invested: $22,400 (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 80513

• Active inventory: 357
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,700 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$39 /mo · $464/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $1,642

Break-even live

Break-even rent $622

Max offer price $80,000

Occupancy floor 34%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1155 Summit Vista Dr Berthoud, CO	3.0	2.5	1377	$2,650	$1.92	13d	1	0.93mi

Listing history 10 events

1. 2026-05-21
   status Pending
2. 2026-04-17
   listed $80,000 Active
3. 2016-05-26
   soldstatus $54,900 Sold 476-char remark

   Show marketing remark (476 chars)

   Come check out this beautiful newer mobile home. Open concept plan from kitchen to living room. Front bedroom close to back door for separate entrance if needed with it's own bathroom. 2nd bedroom and master in rear of home. Lots of space. Stacked washer/dryer included and very nice appliances. Large pine tree in side yard for plenty of shade in the summer months. Ready for move in. Come take a look. Lot rent is $450 monthly. No dogs allowed. Buyer to verify measurements.

4. 2016-04-30
   status Active 476-char remark

   Show marketing remark (476 chars)

   Come check out this beautiful newer mobile home. Open concept plan from kitchen to living room. Front bedroom close to back door for separate entrance if needed with it's own bathroom. 2nd bedroom and master in rear of home. Lots of space. Stacked washer/dryer included and very nice appliances. Large pine tree in side yard for plenty of shade in the summer months. Ready for move in. Come take a look. Lot rent is $450 monthly. No dogs allowed. Buyer to verify measurements.

5. 2016-04-30
   historical 476-char remark

   Show marketing remark (476 chars)

   Come check out this beautiful newer mobile home. Open concept plan from kitchen to living room. Front bedroom close to back door for separate entrance if needed with it's own bathroom. 2nd bedroom and master in rear of home. Lots of space. Stacked washer/dryer included and very nice appliances. Large pine tree in side yard for plenty of shade in the summer months. Ready for move in. Come take a look. Lot rent is $450 monthly. No dogs allowed. Buyer to verify measurements.

6. 2016-01-29
   listed $54,900 Active 476-char remark

   Show marketing remark (476 chars)

   Come check out this beautiful newer mobile home. Open concept plan from kitchen to living room. Front bedroom close to back door for separate entrance if needed with it's own bathroom. 2nd bedroom and master in rear of home. Lots of space. Stacked washer/dryer included and very nice appliances. Large pine tree in side yard for plenty of shade in the summer months. Ready for move in. Come take a look. Lot rent is $450 monthly. No dogs allowed. Buyer to verify measurements.

7. 2016-01-29
   historical

   Show marketing remark (476 chars)

   Come check out this beautiful newer mobile home. Open concept plan from kitchen to living room. Front bedroom close to back door for separate entrance if needed with it's own bathroom. 2nd bedroom and master in rear of home. Lots of space. Stacked washer/dryer included and very nice appliances. Large pine tree in side yard for plenty of shade in the summer months. Ready for move in. Come take a look. Lot rent is $450 monthly. No dogs allowed. Buyer to verify measurements.

8. 2015-10-30
   listed $54,900 Active
9. 1998-01-02
   soldstatus $12,500
10. 1997-10-18
    listed $14,500

ⓘ 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: $464 · $39/mo
• Projected year-2 tax: $464 · $39/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 3/10 Moderate 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 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: $32,404
• − Mortgage interest: −$4,481
• − Property taxes: −$464
• − Insurance: −$400
• − Repairs & maintenance: −$2,592
• − Management: −$2,592
• − Depreciation: −$2,327
• Taxable income: $19,546
• Est. tax owed @ 24.0%: −$4,691
• After-tax cash flow: $15,009/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: Thompson School District R-2J
• NCES district ID: 0805400
• Math proficiency: 28% ▼ -7.00%
• Reading proficiency: 48% ▬ 0.00%
• Median HH income: $63,040
• Composite: 34.01/100
• National rank: #5313
• State rank: #28 of 86 in CO

Livability — Berthoud

• Score: 69/100
• State rank: #100
• US rank: #8538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berthoud, CO
• County: Larimer County · 338,255 people
• City population: 18,271
• Metro: Fort Collins, CO
• Population (ZIP): 18,271
• Household income: $126,726
• Rent vs Own: 10.4% rent · 89.6% own
• Severe rent burden: 55.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 6%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Slovak 6% Romanian 4% Lithuanian 4%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 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: ▼ -411.30%
• Current HPI: 260.0027
• Rent YoY: —
• 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

+451.7% since first listed

10 events — show timeline

• 2026-05-21 Pending — IRES
• 2026-04-17 Listed $80,000 IRES
• 2016-05-26 Sold (MLS) $54,900 IRES
• 2016-04-30 Relisted — IRES
• 2016-04-30 Listing Removed — IRES
• 2016-01-29 Listed $54,900 IRES
• 2016-01-29 Listing Removed — IRES
• 2015-10-30 Listed $54,900 IRES
• 1998-01-02 Sold (MLS) $12,500 IRES
• 1997-10-18 Listed $14,500 IRES

Property tax history

+4.0%/yr

Latest (2025): $464 · +382.8% YoY. Source: county tax records.