HENNESSY Plan · Berthoud, CO 80513

$564,990

5 bd · 3.0 ba · 2,718 sqft · MultiFamily · 19 Days on market

Poor condition

---

Why this score? — see what drove the D 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 +14.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the space and comfort you need in our popular Hennessy floor plan in our Vantage community of Berthoud, Colorado. This thoughtfully designed home offers 5 bedrooms, 4 bathrooms, a loft, and 2,718 square feet of versatile living space. The open-concept main level features a flexible front bedroom or study, a bright great room with 9' ceilings and energy-efficient windows, and a dining nook with sliding glass doors leading to the backyard-perfect for everyday living and entertaining. The kitchen is designed for both style and function, showcasing premium cabinetry with crown molding, stainless steel appliances, a walk-in pantry, and a spacious island with sink and dishwasher. Upstair

Key facts

• Hennessy floor plan
• Bright great room
• Dining nook

Tags

• HENNESSY FLOOR PLAN
• VANTAGE COMMUNITY
• FLEXIBLE FRONT BEDROOM
• BRIGHT GREAT ROOM
• ENERGY EFFICIENT WINDOWS
• DINING NOOK

Property features AI

Finance

• Other: Listing provided by Zillow
• Financial info: List price $564,990

Exterior

• Parking: 2 garage spaces (2 total parking spaces)
• Home design: Single-family plan HENNESSY; Active listing
• Construction: New construction (plan inventory)
• Exterior features: Address: 957 Andrews Crest Dr, Berthoud, CO 80513; Living area noted as 2718 (plan)

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: Open living area (plan HENNESSY); Plan is new construction

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $565k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $512k (9.3% below list).
• Recommended offer: $512k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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+; 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.
• Zoned schools: Berthoud Elementary School (math 54% / reading 57%, grade C+, #143 of 966 statewide, top 15%, 509 students, 18% FRL); Turner Middle School (math 37% / reading 52%, grade D, #56 of 270 statewide, top 23%, 461 students, 19% FRL); Berthoud High School (math 37% / reading 62%, grade D, #115 of 381 statewide, top 34%, 691 students, 15% FRL).
• Market conditions: 368 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).
• At $5,122/mo this rent would consume 49% of the median local household income ($127k/yr) (locally 55% 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 $4k of loan paydown is wiped out by about $17k 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.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($557k) is reasonable based on typical stale-listing flexibility.

Recommended offer $512,200 (9.3% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.08%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-82,440
• Equity at exit: $84,242

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-59,839
• Equity at exit: $48,850

Cash invested: $158,197 (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: 368
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $5,122 medium
• Mortgage (P&I): −$2,963
• Tax est. 1.5%: −$706 /mo · $8,475/yr
• Insurance: −$235
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,076
• Net cashflow: $142

Break-even live

Break-even rent $4,942

Max offer price $564,990

Occupancy floor 92%

Sensitivity live

Price	-10% $532	-5% $337	+0% $142	+5% $-53	+10% $-249
Rent	-10% $-263	-5% $-60	+0% $142	+5% $344	+10% $546
Rate	-1.0pp $426	-0.5pp $286	base $142	+0.5pp $-5	+1.0pp $-153

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$2,756
1× unit	2	1	$2,367
Total (2 units)			$5,122

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: $141,248
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1695 Vantage Pkwy Berthoud, CO	4.0	2.5	3314	$4,200	$1.27	25d	1	0.24mi
716 N 4th St Berthoud, CO	4.0	4.0	3000	$4,200	$1.40	25d	1	0.85mi
1512 Chokeberry St Berthoud, CO	4.0	3.5	2648	$3,169	$1.20	15d	1	0.86mi
1232 Chilcott St Berthoud, CO	4.0	2.5	2258	$3,100	$1.37	25d	1	1.05mi

Listing history 13 events

1. 2026-06-21
   days on market $564,990 Active 19 DOM
2. 2026-06-18
   days on market $564,990 Active 16 DOM
3. 2026-06-17
   days on market $564,990 Active 15 DOM
4. 2026-06-16
   days on market $564,990 Active 14 DOM
5. 2026-06-15
   days on market $564,990 Active 13 DOM
6. 2026-06-14
   days on market $564,990 Active 11 DOM
7. 2026-06-13
   days on market $564,990 Active 10 DOM
8. 2026-06-10
   days on market $564,990 Active 8 DOM
9. 2026-06-09
   days on market $564,990 Active 7 DOM
10. 2026-06-08
    days on market $564,990 Active 6 DOM
11. 2026-06-07
    days on market $564,990 Active 5 DOM
12. 2026-06-03
    remarks 699-char remark
13. 2026-06-03
    listed $564,990 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $61,464
• − Mortgage interest: −$31,648
• − Property taxes: −$8,475
• − Insurance: −$2,825
• − Repairs & maintenance: −$4,917
• − Management: −$4,917
• − Depreciation: −$16,436
• Taxable loss: −$7,754
• Est. tax savings @ 24.0%: +$1,861
• After-tax cash flow: $3,563/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

The property is in a state of disrepair with no visible condition details. Extensive renovations are required to bring the home up to a livable standard.

Repairs flagged

• Major roof — No roof visible in the satellite image
• Major exterior — No exterior visible in the satellite image
• Major flooring — No flooring visible in the satellite image
• Major interior walls/paint — No interior walls/paint visible in the satellite image
• Major bathrooms — No bathrooms visible in the satellite image
• Major systems — No systems visible in the satellite image
• Major HVAC/mechanicals — No HVAC/mechanicals visible in the satellite image
• Major landscaping/curb appeal — No landscaping/curb appeal visible in the satellite image

Value-add opportunities

• Resale roof replacement — A new roof would significantly improve the home's appearance and value
• Resale exterior painting/staining — A fresh coat of paint/staining would enhance curb appeal and value
• Resale flooring installation — New flooring would improve the home's aesthetic and functionality
• Resale interior painting — Fresh paint would improve the home's appearance and value
• Resale bathroom updates — Modernizing bathrooms would enhance the home's appeal and value
• Both HVAC system upgrade — A new HVAC system would improve comfort and energy efficiency
• Resale landscaping — Well-maintained landscaping would enhance curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No roof visible in the satellite image	Major	$15,000–50,000
exterior · No exterior visible in the satellite image	Major	$15,000–50,000
flooring · No flooring visible in the satellite image	Major	$15,000–50,000
interior walls/paint · No interior walls/paint visible in the satellite image	Major	$15,000–50,000
bathrooms · No bathrooms visible in the satellite image	Major	$15,000–50,000
systems · No systems visible in the satellite image	Major	$15,000–50,000
HVAC/mechanicals · No HVAC/mechanicals visible in the satellite image	Major	$15,000–50,000
landscaping/curb appeal · No landscaping/curb appeal visible in the satellite image	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Resale roof replacement — A new roof would significantly improve the home's appearance and value ↑
• Resale exterior painting/staining — A fresh coat of paint/staining would enhance curb appeal and value ↑
• Resale flooring installation — New flooring would improve the home's aesthetic and functionality ↑
• Resale interior painting — Fresh paint would improve the home's appearance and value ↑
• Resale bathroom updates — Modernizing bathrooms would enhance the home's appeal and value ↑
• Both HVAC system upgrade — A new HVAC system would improve comfort and energy efficiency ↑
• Resale landscaping — Well-maintained landscaping would enhance curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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