230 N 2nd St #71 · Berthoud, CO 80513

$90,000

3 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 75 Days on market

Built 2014 Est $77k · 17% over

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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
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your dream home in the heart of a highly sought-after community! This meticulously maintained home is a true gem, offering a perfect blend of comfort and style. The well-appointed kitchen features modern appliances, ample counter space. Whether you're hosting a dinner party or preparing a family meal, this kitchen is sure to meet all your culinary needs. With its prime location, this manufactured home is just moments away from local shops, dining, parks, and more. Don't miss the opportunity to make this residence your own - a place where comfort meets convenience in a highly desirable community setting. Schedule your showing today and envision the life of ease that awaits in this stunning 3-bedroom, 2-bathroom home.

Key facts

• Ring camera system
• Carport
• Garden friendly yard

Tags

• GARDEN FRIENDLY YARD
• CARPORT
• RING CAMERA SYSTEM

Property features AI

Finance

• Other: Minimal flood or C flood plain rating
• HOA & community: No association fees

Exterior

• Parking: Carport
• Utilities: City water (meter installed); Public sewer; Natural gas available (Xcel); Electricity available; Cable available; Satellite available; Community trash service
• Home design: Manufactured in park; Mobile home; Built by Champion
• Construction: Composition construction materials; Composition roof
• Exterior features: Deck; Land lease; Storage structure

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator; Microwave; Pantry
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Separate dining room; Open floorplan; Pantry; Walk-in closet(s); Window coverings; Fire alarm
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 27.2% 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: Ivy Stockwell Elementary School (math 47% / reading 57%, grade C-, #174 of 966 statewide, top 20%, 402 students, 21% FRL); Berthoud High School (math 37% / reading 62%, grade D, #115 of 381 statewide, top 34%, 691 students, 15% FRL).
• Zoned-school proficiency averages 51% at this address vs 38% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Thompson School District R-2J average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 369 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $622 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $15k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
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 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: 2.98% ✓
• Cap rate: 27.22%
• Cash-on-cash: 74.73%
• DSCR: 4.33
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $77,088
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 N 2nd St #83	0.00mi	3/2.0	1,056 (0%)	1mo	$55,000	$52	99
230 N 2nd St #4	0.00mi	2/1.5 (-1)	1,056 (0%)	13mo	$49,000	$46	82
230 N 2nd St N #80	0.00mi	2/2.0 (-1)	960 (-9%)	0mo	$82,000	$85	79
230 N 2nd St #7	0.00mi	3/2.0	924 (-12%)	6mo	$66,999	$73	74
227 N 2nd St #20	0.09mi	2/1.0 (-1)	960 (-9%)	3mo	$72,000	$75	69
230 N 2nd St #9	0.00mi	2/2.0 (-1)	960 (-9%)	18mo	$84,000	$88	65
230 N 2nd St #10	0.00mi	2/1.0 (-1)	980 (-7%)	18mo	$52,000	$53	64

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 74.6%
• Equity multiple: 4.39×
• Total profit: $85,366
• Equity at exit: $13,419

10-year hold

• IRR: 78.3%
• Equity multiple: 9.06×
• Total profit: $203,023
• Equity at exit: $7,782

Cash invested: $25,200 (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 80513

• Active inventory: 369
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,680 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$38 /mo · $460/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $1,569

Break-even live

Break-even rent $693

Max offer price $90,000

Occupancy floor 36%

Sensitivity live

Price	-10% $1,620	-5% $1,595	+0% $1,569	+5% $1,544	+10% $1,518
Rent	-10% $1,358	-5% $1,464	+0% $1,569	+5% $1,675	+10% $1,781
Rate	-1.0pp $1,615	-0.5pp $1,592	base $1,569	+0.5pp $1,546	+1.0pp $1,522

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1155 Summit Vista Dr Berthoud, CO	3.0	2.5	1377	$2,650	$1.92	15d	1	0.93mi

Listing history 24 events

1. 2026-06-21
   days on market $90,000 Active 75 DOM
2. 2026-06-18
   days on market $90,000 Active 72 DOM
3. 2026-06-17
   days on market $90,000 Active 71 DOM
4. 2026-06-16
   days on market $90,000 Active 70 DOM
5. 2026-06-15
   days on market $90,000 Active 69 DOM
6. 2026-06-14
   days on market $90,000 Active 67 DOM
7. 2026-06-13
   days on market $90,000 Active 66 DOM
8. 2026-06-10
   days on market $90,000 Active 64 DOM
9. 2026-06-09
   days on market $90,000 Active 63 DOM
10. 2026-06-08
    days on market $90,000 Active 62 DOM
11. 2026-06-07
    days on market $90,000 Active 61 DOM
12. 2026-06-03
    days on market $90,000 Active 57 DOM
13. 2026-06-03
    price $90,000 Active 56 DOM
14. 2026-06-02
    days on market $95,000 Active 56 DOM
15. 2026-06-01
    days on market $95,000 Active 55 DOM
16. 2026-05-31
    days on market $95,000 Active 54 DOM
17. 2026-05-30
    days on market $95,000 Active 53 DOM
18. 2026-04-21
    price $95,000
19. 2026-04-07
    listed $105,000 Active
20. 2024-02-29
    soldstatus $82,500 Sold 738-char remark

    Show marketing remark (738 chars)

    Welcome to your dream home in the heart of a highly sought-after community! This meticulously maintained home is a true gem, offering a perfect blend of comfort and style. The well-appointed kitchen features modern appliances, ample counter space. Whether you're hosting a dinner party or preparing a family meal, this kitchen is sure to meet all your culinary needs. With its prime location, this manufactured home is just moments away from local shops, dining, parks, and more. Don't miss the opportunity to make this residence your own - a place where comfort meets convenience in a highly desirable community setting. Schedule your showing today and envision the life of ease that awaits in this stunning 3-bedroom, 2-bathroom home.

21. 2024-01-28
    historical Active - Backup 738-char remark

    Show marketing remark (738 chars)

    Welcome to your dream home in the heart of a highly sought-after community! This meticulously maintained home is a true gem, offering a perfect blend of comfort and style. The well-appointed kitchen features modern appliances, ample counter space. Whether you're hosting a dinner party or preparing a family meal, this kitchen is sure to meet all your culinary needs. With its prime location, this manufactured home is just moments away from local shops, dining, parks, and more. Don't miss the opportunity to make this residence your own - a place where comfort meets convenience in a highly desirable community setting. Schedule your showing today and envision the life of ease that awaits in this stunning 3-bedroom, 2-bathroom home.

22. 2024-01-11
    listed $80,000 Active 738-char remark

    Show marketing remark (738 chars)

    Welcome to your dream home in the heart of a highly sought-after community! This meticulously maintained home is a true gem, offering a perfect blend of comfort and style. The well-appointed kitchen features modern appliances, ample counter space. Whether you're hosting a dinner party or preparing a family meal, this kitchen is sure to meet all your culinary needs. With its prime location, this manufactured home is just moments away from local shops, dining, parks, and more. Don't miss the opportunity to make this residence your own - a place where comfort meets convenience in a highly desirable community setting. Schedule your showing today and envision the life of ease that awaits in this stunning 3-bedroom, 2-bathroom home.

23. 2015-11-23
    soldstatus $52,000 Sold 143-char remark

    Show marketing remark (143 chars)

    Practically new mobile home, built in 2014. 3 bedrooms, 2 bathrooms, great layout. Lot rent is $450 includes trash. Unit #71. Come take a look.

24. 2015-11-04
    listed $54,900 Active 143-char remark

    Show marketing remark (143 chars)

    Practically new mobile home, built in 2014. 3 bedrooms, 2 bathrooms, great layout. Lot rent is $450 includes trash. Unit #71. Come take a look.

ⓘ 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: $460 · $38/mo
• Projected year-2 tax: $495 · $41/mo
• Expected delta: +$35/yr (+$3/mo · 7.7%)

ⓘ 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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,160
• − Mortgage interest: −$5,041
• − Property taxes: −$460
• − Insurance: −$450
• − Repairs & maintenance: −$2,573
• − Management: −$2,573
• − Depreciation: −$2,618
• Taxable income: $18,445
• Est. tax owed @ 24.0%: −$4,427
• After-tax cash flow: $14,406/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 — 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

Price history

+73.0% since first listed

7 events — show timeline

• 2026-04-21 Price Changed $95,000 IRES
• 2026-04-07 Listed $105,000 IRES
• 2024-02-29 Sold (MLS) $82,500 IRES
• 2024-01-28 Contingent — IRES
• 2024-01-11 Listed $80,000 IRES
• 2015-11-23 Sold (MLS) $52,000 IRES
• 2015-11-04 Listed $54,900 IRES

Property tax history

+4.9%/yr

Latest (2025): $460 · +378.1% YoY. Source: county tax records.