1601 N College Ave #338 · Fort Collins, CO 80524

$195,000

4 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 52 Days on market

Built 1980 5,227 sqft lot ↓ 7% 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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A standout opportunity for move-in-ready comfort in a prime Fort Collins location-this home is truly one to see. With low-maintenance living and major systems already updated, this home offers true peace of mind so you can spend more time enjoying what matters. The convenient location provides quick access to shopping, dining, medical facilities, and everyday essentials, making daily life so much easier. Whether you're looking to simplify or stay active and connected, this home delivers the perfect balance of comfort, convenience, and community. Step into easy living in this beautifully upgraded home located in a sought-after 55+ gated community just minutes from Old Town Fort Collins. This

Key facts

• Open-concept kitchen
• 5,227 sq ft lot
• Built 1980

Tags

• MOVE-IN-READY COMFORT
• LOW-MAINTENANCE LIVING
• QUICK ACCESS TO SHOPPING
• UPDATED MAJOR SYSTEMS
• SOUGHT-AFTER GATED COMMUNITY
• OPEN-CONCEPT KITCHEN

Property features AI

Finance

• Other: Minimal flood or C rating (flood plain)
• HOA & community: No association fees or transfer fees reported

Exterior

• Parking: Carport; Tandem garage (listed under exterior features)
• Utilities: City water (meter installed); Public sewer; Natural gas available (XCEL); Electricity available; Cable available; Satellite available; High-speed internet available
• Home design: Manufactured in park (mobile home); Located at the far end of the southwest corner of the park
• Construction: Frame construction; Composition roof
• Exterior features: Deck; Tandem garage; Land lease; Corner lot; Paved lot; Asphalt road frontage; City street frontage; Level lot; Level drive; Near bus service; Low carpet (accessibility note)

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator; Microwave; Garbage disposal
• Bedrooms: 3 bedrooms
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air; Ceiling fan(s)
• Interior features: Eat-in kitchen; Separate dining room; Workshop space; Pantry; Walk-in closet(s); Kitchen island; Window coverings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1k of loan paydown is wiped out by about $6k 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 $55k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.35%
• DSCR: 1.46
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $87,360
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1601 N College Ave #342	0.00mi	3/2.0 (-1)	1,536 (-9%)	5mo	$80,000	$52	77

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $675
• Equity at exit: $29,075

10-year hold

• IRR: 10.9%
• Equity multiple: 1.89×
• Total profit: $48,770
• Equity at exit: $16,860

Cash invested: $54,600 (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: 7.9×

Monthly cashflow live

• Estimated rent: $2,054 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$48 /mo · $571/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $471

Break-even live

Break-even rent $1,458

Max offer price $195,000

Occupancy floor 72%

Sensitivity live

Price	-10% $581	-5% $526	+0% $471	+5% $416	+10% $361
Rent	-10% $309	-5% $390	+0% $471	+5% $552	+10% $633
Rate	-1.0pp $569	-0.5pp $521	base $471	+0.5pp $421	+1.0pp $369

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 N College Ave Unit 273A Fort Collins, CO	3.0	2.0	1352	$1,150	$0.85	24d	1	0.03mi
328 Butch Cassidy Dr Fort Collins, CO	3.0	1.5	1296	$2,285	$1.76	14d	1	0.44mi
432 Sundance Cir N Fort Collins, CO	3.0	2.0	1298	$2,250	$1.73	14d	1	0.55mi
749 Peregrine Run Fort Collins, CO	3.0	2.5	1750	$2,695	$1.54	24d	1	0.83mi
938 Schlagel St #6 Fort Collins, CO	3.0	2.0	1581	$2,395	$1.51	24d	1	1.05mi

Listing history 25 events

1. 2026-06-21
   days on market $195,000 Active 52 DOM
2. 2026-06-18
   days on market $195,000 Active 49 DOM
3. 2026-06-17
   days on market $195,000 Active 48 DOM
4. 2026-06-16
   days on market $195,000 Active 47 DOM
5. 2026-06-15
   days on market $195,000 Active 46 DOM
6. 2026-06-14
   days on market $195,000 Active 44 DOM
7. 2026-06-10
   days on market $195,000 Active 41 DOM
8. 2026-06-09
   days on market $195,000 Active 40 DOM
9. 2026-06-08
   days on market $195,000 Active 39 DOM
10. 2026-06-07
    pricedays on market $195,000 Active 38 DOM
11. 2026-06-03
    days on market $205,000 Active 34 DOM
12. 2026-06-02
    days on market $205,000 Active 33 DOM
13. 2026-06-01
    days on market $205,000 Active 32 DOM
14. 2026-05-31
    days on market $205,000 Active 31 DOM
15. 2026-05-30
    days on market $205,000 Active 30 DOM
16. 2026-04-30
    listed $205,000 Active
17. 2026-04-30
    historical
18. 2026-02-20
    listed $215,000 Active
19. 2026-02-19
    historical
20. 2025-11-28
    listed $225,000 Active
21. 2025-11-22
    historical
22. 2025-09-04
    listed $225,000 Active
23. 2024-05-30
    soldstatus $220,000 Sold
24. 2024-05-09
    historical Active - Backup
25. 2024-05-01
    listed $220,000 Active

ⓘ 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: $571 · $48/mo
• Projected year-2 tax: $1,072 · $89/mo
• Expected delta: +$501/yr (+$42/mo · 87.8%)

ⓘ 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: $24,645
• − Mortgage interest: −$10,923
• − Property taxes: −$571
• − Insurance: −$975
• − Repairs & maintenance: −$1,972
• − Management: −$1,972
• − Depreciation: −$5,673
• Taxable income: $2,560
• Est. tax owed @ 24.0%: −$614
• After-tax cash flow: $5,038/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

-6.8% since first listed

10 events — show timeline

• 2026-04-30 Listing Removed — IRES
• 2026-04-30 Listed $205,000 IRES
• 2026-02-20 Listed $215,000 IRES
• 2026-02-19 Listing Removed — IRES
• 2025-11-28 Listed $225,000 IRES
• 2025-11-22 Listing Removed — IRES
• 2025-09-04 Listed $225,000 IRES
• 2024-05-30 Sold (MLS) $220,000 IRES
• 2024-05-09 Contingent — IRES
• 2024-05-01 Listed $220,000 IRES

Property tax history

+7.7%/yr

Latest (2025): $571 · +495.2% YoY. Source: county tax records.