1601 N College Ave #5 · Fort Collins, CO 80524

$75,000

2 bd · 1.0 ba · 640 sqft · Manufactured public records · 1 Days on market

Built 2021 Est $63k · 18% over ↓ 30% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Are you ready to experience all the peace of mind that a nearly new home can offer? Everything is so new, so there should be nothing to do! Fantastic, gated 55 and over community with lot rent of just $1150 per month, with water and sewer included! First park in your nice and shady spots out front on your private driveway. Then you enter through the front covered porch, complete with easy to maintain composite decking. Once you open the front door you discover a GREAT open layout in the living area that can accommodate most any furniture arrangement. Kitchen boasts a peninsula with overhang for seating, loads of cabinets and counter top space, and nice black and stainless kitchen appliances

Key facts

• Gated community
• Covered porch
• Private driveway

Tags

• GATED COMMUNITY
• PRIVATE DRIVEWAY
• COVERED PORCH
• COMPOSITE DECKING
• OPEN LAYOUT
• KITCHEN PENINSULA

Property features AI

Finance

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

Exterior

• Parking: No garage; No designated parking features
• Utilities: City water with meter installed; Public sewer; Natural gas available (Xcel); Electricity available; Cable and satellite available; High-speed internet available; Underground utilities; Private trash service
• Home design: Manufactured in park; Manufactured home; Level lot entry; Southern exposure
• Construction: Frame construction; Composition siding; Composition roof
• Exterior features: Patio; Deck; Land lease; Evergreen and deciduous trees; Level lot; House faces south; Within city limits; Paved surfaces with gutters, sidewalks, and street lights; Privately maintained road to county standards

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator; Microwave
• Bedrooms: 1 bedroom
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Open floor plan; Window coverings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $978 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 21.9% 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 fast (+4.1%/yr); 422 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $519 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 + 4.1% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Recommended offer $75,000

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 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?
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: 2.42% ✓
• Cap rate: 21.95%
• Cash-on-cash: 55.91%
• DSCR: 3.49
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $63,360
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1601 N College Ave #2	0.00mi	2/1.0	644 (+1%)	12mo	$64,000	$99	89
1601 N College Ave #134	0.00mi	2/1.0	728 (+14%)	9mo	$26,500	$36	70

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 · 4.13% rent growth · sell at horizon

5-year hold

• IRR: 55.5%
• Equity multiple: 3.49×
• Total profit: $52,237
• Equity at exit: $11,183

10-year hold

• IRR: 60.9%
• Equity multiple: 7.40×
• Total profit: $134,442
• Equity at exit: $6,485

Cash invested: $21,000 (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 80524

• Rents YoY: 4.1%
• Active inventory: 422
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,815 high
• Mortgage (P&I): −$393
• Tax from tax record: −$31 /mo · $366/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $978

Break-even live

Break-even rent $576

Max offer price $75,000

Occupancy floor 41%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1713 Aspen St Fort Collins, CO	1.0	1.0	660	$1,500	$2.27	21d	1	0.26mi
311 N Mason St Fort Collins, CO	2.0	1.0–2.0	645	$2,115	$3.28	13d	7	1.15mi
310 N Mason St Fort Collins, CO	2.0	1.0–2.0	690	$2,339	$3.39	13d	8	1.17mi
281 Willow St Fort Collins, CO	2.0	1.0–2.0	694	$2,766	$3.99	13d	20	1.23mi
225 N Sherwood St Fort Collins, CO	1.0	1.0	450	$1,250	$2.78	23d	1	1.28mi
500 Laporte Ave Unit 106 Fort Collins, CO	1.0	1.0	450	$1,250	$2.78	13d	1	1.33mi
172 N College Ave Fort Collins, CO	1.0–2.0	1.0	462	$1,723	$3.73	23d	4	1.35mi
308 West St Fort Collins, CO	2.0	1.0	719	$1,500	$2.09	23d	1	1.41mi

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $75,000 Active 1 DOM

ⓘ 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: $366 · $31/mo
• Projected year-2 tax: $412 · $34/mo
• Expected delta: +$46/yr (+$4/mo · 12.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,774
• − Mortgage interest: −$4,201
• − Property taxes: −$366
• − Insurance: −$375
• − Repairs & maintenance: −$1,742
• − Management: −$1,742
• − Depreciation: −$2,182
• Taxable income: $11,166
• Est. tax owed @ 24.0%: −$2,680
• After-tax cash flow: $9,061/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): 40,030
• Household income: $85,035
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1860.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 17% Two or more races 11% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Slovak 3% Portuguese 3% Italian 3%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% German/W. Germanic 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: ▼ -581.67%
• Current HPI: 274.4026
• Rent YoY: ▲ 4.13%
• 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

-30.2% since first listed

8 events — show timeline

• 2026-06-17 Listed $75,000 IRES
• 2023-08-21 Listing Removed — IRES
• 2023-03-02 Listed $100,000 IRES
• 2023-03-01 Listing Removed — IRES
• 2023-02-28 Price Changed $100,000 IRES
• 2023-02-28 Relisted — IRES
• 2023-01-21 Listing Removed — IRES
• 2022-06-23 Listed $107,500 IRES

Property tax history

+281.6%/yr

Latest (2025): $366 · +281.6% YoY. Source: county tax records.