116 S Lincoln Ave · Loveland, CO 80537

$640,000

16 bd · 16.0 ba · 3,583 sqft · MultiFamily · 231 Days on market

Built 1950 10,018 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. 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

116 S Lincoln Avenue is a fully leased, 4-unit mixed-use property consisting of a 1,917 SF restaurant building and a three-unit multi-family dwelling situated on a 0.23 acre lot located near the southeast corner of E 1st Street and S Lincoln Avenue in Downtown, Loveland, Colorado. The property sits in close proximity to new and exciting development in Downtown Loveland, including The Foundry Plaza - a mixed-use development spanning three blocks consisting of apartments, restaurants, a salon, hotel, dine-in movie theater, and a central plaza for community entertainment. The flexible DT - Downtown zoning offers a myriad of potential uses including retail, office, residential, and general comm

Key facts

• Flexible dt zoning
• Small grease trap
• 0.23 acre lot

Tags

• 0.23 ACRE LOT
• FLEXIBLE DT ZONING
• TYPE II HOOD
• WALK-IN COOLER
• THREE-COMPARTMENT SINK
• SMALL GREASE TRAP

Property features AI

Finance

• Financial info: Gross income: $69,399.62; Net operating income: $49,571.62; Tenants pay deposit, gas, electricity, water, and sewer
• HOA & community: No association fees or transfer fees

Exterior

• Parking: Total parking for 11 vehicles
• Utilities: City water with meter installed; Public sewer; Natural gas available; Electricity available; No water rights
• Home design: Residential income property; Single-story (one level); Not new construction (previously owned); Zoned DT
• Construction: Frame and brick construction; Flat roof
• Exterior features: Minimal flood risk (Minimal Flood or C rating)

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Four separate 1-bedroom units (each unit has 1 bedroom)
• Bathrooms: Four separate 1-bath units (each unit has 1 bathroom)
• Heating & cooling: Forced air heating
• Interior features: No units furnished
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $640k.

Deal economics

• At list price, monthly cash flow is $4k ($42k/yr) — positive. Per door: $881/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $640k).
• Recommended offer: $563k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 2.9% in Loveland — 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 73/100 on livability (#52 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A; Watch: crime C-, commute F, cost of living 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: Winona Elementary School (math 15% / reading 22%, grade F, #724 of 966 statewide, top 77%, 250 students, 68% FRL); Mountain View High School (math 24% / reading 51%, grade F, #192 of 381 statewide, top 51%, 1,138 students, 35% FRL) — zoned schools average 51% FRL vs 29% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 283 active listings in the ZIP; 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 $4k of loan paydown is wiped out by about $19k 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 + 3.6% rent growth), your $179k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($563k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y 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 $118k; list at $640k implies a 440% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $563,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.57% ✓
• Cap rate: 12.90%
• Cash-on-cash: 23.60%
• DSCR: 2.05
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.57% rent growth · sell at horizon

5-year hold

• IRR: 17.4%
• Equity multiple: 1.71×
• Total profit: $126,724
• Equity at exit: $95,426

10-year hold

• IRR: 26.3%
• Equity multiple: 3.37×
• Total profit: $424,103
• Equity at exit: $55,336

Cash invested: $179,200 (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 80537

• Rents YoY: 3.6%
• Active inventory: 283
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $10,060 high
• Mortgage (P&I): −$3,356
• Tax est. 1.5%: −$800 /mo · $9,600/yr
• Insurance: −$267
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,113
• Net cashflow: $3,525

Break-even live

Break-even rent $5,599

Max offer price $640,000

Occupancy floor 60%

Sensitivity live

Price	-10% $3,967	-5% $3,746	+0% $3,525	+5% $3,303	+10% $3,082
Rent	-10% $2,730	-5% $3,127	+0% $3,525	+5% $3,922	+10% $4,319
Rate	-1.0pp $3,847	-0.5pp $3,687	base $3,525	+0.5pp $3,359	+1.0pp $3,190

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$10,060
Total (4 units)			$10,060

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: $160,000
• Closing costs: $19,200
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $640,000 Active 231 DOM
2. 2026-06-17
   days on market $640,000 Active 230 DOM
3. 2026-06-16
   days on market $640,000 Active 229 DOM
4. 2026-06-15
   days on market $640,000 Active 228 DOM
5. 2026-06-14
   days on market $640,000 Active 226 DOM
6. 2026-06-13
   days on market $640,000 Active 225 DOM
7. 2026-06-10
   days on market $640,000 Active 223 DOM
8. 2026-06-09
   days on market $640,000 Active 222 DOM
9. 2026-06-08
   days on market $640,000 Active 221 DOM
10. 2026-06-07
    days on market $640,000 Active 220 DOM
11. 2026-06-03
    days on market $640,000 Active 216 DOM
12. 2026-06-02
    days on market $640,000 Active 215 DOM
13. 2026-06-01
    days on market $640,000 Active 214 DOM
14. 2026-05-31
    days on market $640,000 Active 213 DOM
15. 2026-05-30
    days on market $640,000 Active 212 DOM
16. 2025-10-30
    listed $640,000 Active
17. 2025-08-11
    historical
18. 2025-06-12
    listed $850,000 Active
19. 1998-03-16
    soldstatus $118,500
20. 1998-01-26
    listed $130,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $120,720
• − Mortgage interest: −$35,850
• − Property taxes: −$9,600
• − Insurance: −$3,200
• − Repairs & maintenance: −$9,658
• − Management: −$9,658
• − Depreciation: −$18,618
• Taxable income: $34,137
• Est. tax owed @ 24.0%: −$8,193
• After-tax cash flow: $34,101/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 — Loveland

• Score: 73/100
• State rank: #52
• US rank: #5353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loveland, CO
• County: Larimer County · 338,255 people
• City population: 94,535
• Metro: Fort Collins, CO
• Population (ZIP): 44,425
• Household income: $86,325
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1703.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 8%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 4% Italian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -606.26%
• Current HPI: 253.4939
• Rent YoY: ▲ 3.57%
• 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

+392.3% since first listed

5 events — show timeline

• 2025-10-30 Listed $640,000 IRES
• 2025-08-11 Listing Removed — IRES
• 2025-06-12 Listed $850,000 IRES
• 1998-03-16 Sold (MLS) $118,500 IRES
• 1998-01-26 Listed $130,000 IRES