5000 Butte St #272 · Boulder, CO 80301

$99,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 237 Days on market

Built 1984 Est $145k · 32% under

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Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming and beautifully maintained home in Boulder. The light-filled kitchen seamlessly opens to a spacious and inviting living room-perfect for everyday living and entertaining. You'll find two generously sized bedrooms, including a primary suite that boasts a recently renovated bathroom featuring luxury vinyl tile flooring and thoughtful finishes throughout. Recent updates include a new hot water heater, new light fixtures and new blinds. Step outside to a covered porch where you can relax and enjoy the outdoors, with plenty of room for a grill and seating. A 10x10 storage shed in the backyard provides ample additional space for gear or tools. Enjoy access to community am

Key facts

• Covered porch
• 10x10 storage shed
• Light filled kitchen

Tags

• LIGHT FILLED KITCHEN
• RECENTLY RENOVATED BATHROOM
• LUXURY VINYL TILE FLOORING
• COVERED PORCH
• 10X10 STORAGE SHED
• COMMUNITY AMENITIES

Property features AI

Finance

• Other: Privately maintained road up to county standards; Lot features include deciduous trees, paved surface, curbs, gutters, street lights, and a fire hydrant within 500 feet; Accessible near bus
• Financial info: $88 annual tax (2024)

Exterior

• Parking: No garage
• Utilities: City water (meter installed); Electricity available; High-speed internet available; Xcel gas
• Home design: Manufactured in park (mobile home)
• Construction: Composition exterior materials; Fiberglass roof
• Exterior features: Deck; Land lease; Storage structure; Fencing (other)

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Evaporative cooling; Ceiling fan(s)
• Interior features: Eat-in kitchen; Cathedral ceilings; Walk-in closet(s); Window coverings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.9% vs local median 1.7% in Boulder — 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 77/100 on livability (#24 in CO, #2,958 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D+, cost of living F.
• Boulder Valley School District No. Re2 (urban): math 49% / reading 67% proficiency, ranked #6 of 86 in CO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Whittier Elementary School (math 24% / reading 52%, grade F, #393 of 966 statewide, top 41%, 329 students, 39% FRL); Boulder High School (math 64% / reading 81%, grade B+, #18 of 381 statewide, top 4%, 2,074 students, 28% FRL) — zoned schools average 33% FRL vs 16% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.3%/yr); 185 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,688 units permitted in Boulder County in 2024 (1,136 in 5+ unit buildings).
• This rent runs 34% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Boulder County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $99k implies a 371% 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 $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.70% ✓
• Cap rate: 24.91%
• Cash-on-cash: 66.48%
• DSCR: 3.96
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $145,152
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5000 Butte St #7	0.00mi	3/2.0 (+1)	1,232 (+7%)	10mo	$155,000	$126	75
5000 Butte St #31	0.00mi	2/1.0	980 (-15%)	12mo	$120,000	$122	61

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 62.5%
• Equity multiple: 3.67×
• Total profit: $73,901
• Equity at exit: $14,761

10-year hold

• IRR: 66.0%
• Equity multiple: 6.77×
• Total profit: $159,885
• Equity at exit: $8,560

Cash invested: $27,720 (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 80301

• Rents YoY: -2.3%
• Active inventory: 185
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,677 high
• Mortgage (P&I): −$519
• Tax from tax record: −$19 /mo · $222/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$562
• Net cashflow: $1,536

Break-even live

Break-even rent $733

Max offer price $99,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,592	-5% $1,564	+0% $1,536	+5% $1,508	+10% $1,480
Rent	-10% $1,324	-5% $1,430	+0% $1,536	+5% $1,641	+10% $1,747
Rate	-1.0pp $1,586	-0.5pp $1,561	base $1,536	+0.5pp $1,510	+1.0pp $1,484

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3045 Kings Ridge Blvd Unit 1 Boulder, CO	2.0	1.0	950	$1,875	$1.97	21d	1	0.31mi
3073 Fulton Cir Boulder, CO	2.0	1.5	1032	$2,403	$2.33	14d	1	0.34mi
3112 Bell Dr Boulder, CO	3.0	2.5	1338	$3,300	$2.47	21d	1	0.37mi
3485 Hayden Pl Unit 3 Boulder, CO	2.0	1.5	785	$2,495	$3.18	21d	1	0.65mi
3715 Canfield St Boulder, CO	2.0	1.0–2.0	827	$2,576	$3.11	14d	24	0.68mi
3303 Bluff St Boulder, CO	3.0	1.0–2.5	1131	$3,789	$3.35	14d	38	0.81mi
3315 Chisholm Trl Unit 1546453P Boulder, CO	2.0	1.0	861	$2,639	$3.07	14d	1	0.82mi
3120 Corona Trl #209 Boulder, CO	2.0	2.0	966	$2,650	$2.74	21d	1	0.85mi
2530 Junction Pl Boulder, CO	1.0–3.0	1.0–3.5	1204	$3,416	$2.84	14d	69	0.88mi
2995 Eagle Way Boulder, CO	2.0	1.0–1.5	639	$1,845	$2.89	21d	1	0.96mi
2995 Glenwood Dr Boulder, CO	1.0–2.0	1.0–1.5	807	$2,136	$2.65	14d	17	0.97mi
3100 Pearl St Boulder, CO	2.0	1.0–2.0	849	$3,875	$4.56	14d	23	1.07mi
3000 Pearl Pkwy Boulder, CO	2.0	1.0–2.0	1249	$3,936	$3.15	14d	19	1.14mi
2820 Hibiscus AVE Boulder, CO	3.0	1.0–2.5	1010	$3,678	$3.64	14d	91	1.16mi
2850 Kalmia Ave Boulder, CO	1.0–2.0	1.0–2.0	850	$2,795	$3.29	14d	4	1.19mi
2800 Kalmia Ave Boulder, CO	2.0	1.5–2.0	880	$2,150	$2.44	21d	2	1.21mi
3487 28th St #21 Boulder, CO	2.0	1.5	936	$2,600	$2.78	21d	1	1.27mi
2747 Glenwood Ct Boulder, CO	2.0	1.5	1000	$1,850	$1.85	14d	1	1.28mi
3545 28th St #308 Boulder, CO	2.0	2.0	838	$2,950	$3.52	21d	1	1.30mi
3701 Paseo del Prado Boulder, CO	2.0–3.0	2.5	1273	$2,995	$2.35	14d	8	1.31mi
2707 Valmont Rd Boulder, CO	1.0–2.0	1.0	684	$2,200	$3.22	21d	6	1.31mi
1590 Eisenhower Dr Boulder, CO	3.0	1.0–3.0	937	$3,724	$3.97	14d	20	1.33mi
3850 Paseo del Prado #1 Boulder, CO	2.0	2.0	1236	$2,520	$2.04	21d	1	1.33mi
4970 Meredith Way Boulder, CO	1.0–2.0	1.0–2.0	836	$2,717	$3.25	14d	15	1.36mi
3401 Arapahoe Ave Boulder, CO	1.0	1.0	871	$3,995	$4.58	14d	1	1.38mi
2650 Juniper Ave Boulder, CO	3.0	2.0	1470	$3,675	$2.50	21d	1	1.39mi
2625 Tabriz Pl Boulder, CO	3.0	1.0	1097	$3,600	$3.28	21d	1	1.40mi
3725 Birchwood Dr #23 Boulder, CO	2.0	1.5	1114	$2,295	$2.06	21d	1	1.40mi

Listing history 14 events

1. 2026-01-04
   status Active
2. 2025-09-13
   status Active
3. 2025-09-05
   status Pending
4. 2025-09-02
   historical
5. 2025-08-18
   price $99,000
6. 2025-06-04
   listed $110,000 Active
7. 2024-11-08
   historical
8. 2024-09-30
   price $105,000
9. 2024-09-02
   price $125,000
10. 2024-07-14
    listed $135,000 Active
11. 2010-07-13
    soldstatus $21,000
12. 2008-08-14
    soldstatus $17,900
13. 1994-07-14
    soldstatus $16,400
14. 1993-06-25
    soldstatus $14,700

ⓘ 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: $222 · $19/mo
• Projected year-2 tax: $544 · $45/mo
• Expected delta: +$322/yr (+$27/mo · 144.9%)

ⓘ 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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,122
• − Mortgage interest: −$5,546
• − Property taxes: −$222
• − Insurance: −$495
• − Repairs & maintenance: −$2,570
• − Management: −$2,570
• − Depreciation: −$2,880
• Taxable income: $17,839
• Est. tax owed @ 24.0%: −$4,281
• After-tax cash flow: $14,147/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: Boulder Valley School District No. Re2
• NCES district ID: 0802490
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 67% ▲ 4.00%
• Median HH income: $70,395
• Composite: 51.3/100
• National rank: #1747
• State rank: #6 of 86 in CO

Livability — Boulder

• Score: 77/100
• State rank: #24
• US rank: #2958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boulder, CO
• County: Boulder County · 271,666 people
• City population: 121,246
• Metro: Boulder, CO
• Population (ZIP): 25,007
• Household income: $95,207
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1296.0

Population outlook (Boulder County) Hauer SSP2

• Today (2025): 380,833 people
• By 2030: 412,028 · +8.2%
• By 2040: 472,764 · +24.1%
• By 2050: 532,029 · +39.7%
• By 2075: 679,723 · +78.5%
• By 2100: 766,278 · +101.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 11% Hispanic / Latino 11% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Boulder

• 2024 margin: Solid D (+55.8) · D 76.5% · R 20.8% · Other 2.7%
• 2008→2024 swing: +9.6pp toward D · 2008: 46.1pp · 2024: 55.8pp
• All cycles: 2024: D+55.8 2020: D+56.6 2016: D+48.6 2012: D+41.5 2008: D+46.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -674.67%
• Current HPI: 286.4092
• Rent YoY: ▼ -2.27%
• Metro: Boulder, 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

+573.5% since first listed

14 events — show timeline

• 2026-01-04 Relisted — IRES
• 2025-09-13 Relisted — IRES
• 2025-09-05 Pending — IRES
• 2025-09-02 Listing Removed — IRES
• 2025-08-18 Price Changed $99,000 IRES
• 2025-06-04 Listed $110,000 IRES
• 2024-11-08 Listing Removed — IRES
• 2024-09-30 Price Changed $105,000 IRES
• 2024-09-02 Price Changed $125,000 IRES
• 2024-07-14 Listed $135,000 IRES
• 2010-07-13 Sold (Public Records) $21,000 Public Records
• 2008-08-14 Sold (Public Records) $17,900 Public Records
• 1994-07-14 Sold (Public Records) $16,400 Public Records
• 1993-06-25 Sold (Public Records) $14,700 Public Records

Property tax history

+5.0%/yr

Latest (2025): $222 · +153.0% YoY. Source: county tax records.