551 Summit Trl · Granby, CO 80446

$119,900

2 bd · 2.0 ba · 971 sqft · MultiFamily · 90 Days on market

Built 2020 ↓ 56% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• 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: 1 unit. 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 MLS

*Welcome Home* This stunning property features a large, spacious living room with built-in shelving and an LED fireplace for ambiance and warmth, perfect for cozy evenings. The open concept kitchen with generous kitchen island offers ample storage and prep area. Stainless steel appliances, and stylish floating shelves and range hood make it a chef's delight. Enjoy your morning coffee at the built-in coffee bar, adding convenience and charm to your daily routine. This home includes three bedrooms and two bathrooms, highlighted by a large master suite with a walk-in closet, providing plenty of space for your belongings. The huge laundry room is equipped with a sink, an abundance of cabinet storage for organization and counter space to make laundry day a breeze. From Kremmling: Take Hwy 40 East, left onto Hwy 34, take next left into Smith Creek Crossing. Take 1st right (Windom Way, turns into Challenger Ave), take the 3rd left (Blanca Boulevard). The home is the right, Unit #193 Step outside to a nice yard area where you can relax and enjoy the amazing views of the surrounding mountains, perfect for outdoor gatherings or quiet moments of reflection. This property combines modern amenities with stunning natural beauty, making it an ideal place to call home.

Key facts

• Open-concept kitchen
• Large living room
• Outdoor area

Tags

• LARGE LIVING ROOM
• OPEN-CONCEPT KITCHEN
• STAINLESS STEEL APPLIANCES
• OUTDOOR AREA
• MOUNTAIN VIEWS

Property features AI

Finance

• Other: Individual ownership
• HOA & community: Land lease in effect (monthly land lease of $815 through 12/31/2026)

Exterior

• Parking: 2 off-street parking spaces with concrete surface; Total of 2 parking spaces
• Utilities: Electricity connected; Natural gas connected; Phone available; Public sewer
• Home design: Manufactured home located in a park; Single-story (main level living); Located in River Ranch Run park
• Construction: Manufactured home by Champion; 64 ft long by 15 ft wide
• Exterior features: Shingle roof; Paved, year-round road frontage on a privately maintained road; Public water

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate
• Bathrooms: 2 bathrooms on the main level (1 full, 1 three-quarter)
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Washer and dryer included; Range; Refrigerator; Laminate flooring
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $6k ($74k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 69.4% vs local median 1.4% in Granby — 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 70/100 on livability (#85 in CO) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: commute D+, amenities F, health & safety F.
• East Grand School District No. 2 (rural): math 36% / reading 58% proficiency, ranked #17 of 86 in CO (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Granby Elementary School (math 34% / reading 52%, grade F, #300 of 966 statewide, top 32%, 331 students, 38% FRL); East Grand Middle School (math 32% / reading 47%, grade F, #84 of 270 statewide, top 32%, 290 students, 22% FRL); Middle Park High School (math 42% / reading 67%, grade C-, #78 of 381 statewide, top 22%, 406 students, 20% FRL).
• Market conditions: 424 active listings in the ZIP; 294 units permitted in Grand County in 2024 (82 in 5+ unit buildings).
• At $9,028/mo this rent would consume 145% of the median local household income ($75k/yr) (locally 105% 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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Grand County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 3y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 7.53% ✓
• Cap rate: 69.38%
• Cash-on-cash: 225.31%
• DSCR: 11.03
• GRM: 1.1

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: —
• Equity multiple: 12.15×
• Total profit: $374,284
• Equity at exit: $17,877

10-year hold

• IRR: —
• Equity multiple: 25.83×
• Total profit: $833,480
• Equity at exit: $10,367

Cash invested: $33,572 (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 80446

• Home prices YoY: -23.1%
• Active inventory: 424
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $9,028 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,896
• Net cashflow: $6,178

Break-even live

Break-even rent $1,207

Max offer price $119,900

Occupancy floor 27%

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	2	$9,030
Total (5 units)			$9,028

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $119,900 Active 90 DOM
2. 2026-06-17
   days on market $119,900 Active 89 DOM
3. 2026-06-16
   days on market $119,900 Active 88 DOM
4. 2026-06-15
   days on market $119,900 Active 87 DOM
5. 2026-06-14
   days on market $119,900 Active 85 DOM
6. 2026-06-10
   days on market $119,900 Active 82 DOM
7. 2026-06-09
   days on market $119,900 Active 81 DOM
8. 2026-06-08
   days on market $119,900 Active 80 DOM
9. 2026-06-07
   days on market $119,900 Active 79 DOM
10. 2026-06-05
    days on market $119,900 Active 76 DOM
11. 2026-06-03
    days on market $119,900 Active 75 DOM
12. 2026-06-02
    days on market $119,900 Active 74 DOM
13. 2026-06-01
    days on market $119,900 Active 73 DOM
14. 2026-05-31
    days on market $119,900 Active 72 DOM
15. 2026-05-31
    days on market $119,900 Active 71 DOM
16. 2026-05-19
    price $119,900
17. 2026-05-08
    price $124,500
18. 2026-04-10
    historical
19. 2026-03-26
    price $231,998 1274-char remark

    Show marketing remark (1274 chars)

    *Welcome Home* This stunning property features a large, spacious living room with built-in shelving and an LED fireplace for ambiance and warmth, perfect for cozy evenings. The open concept kitchen with generous kitchen island offers ample storage and prep area. Stainless steel appliances, and stylish floating shelves and range hood make it a chef's delight. Enjoy your morning coffee at the built-in coffee bar, adding convenience and charm to your daily routine. This home includes three bedrooms and two bathrooms, highlighted by a large master suite with a walk-in closet, providing plenty of space for your belongings. The huge laundry room is equipped with a sink, an abundance of cabinet storage for organization and counter space to make laundry day a breeze. From Kremmling: Take Hwy 40 East, left onto Hwy 34, take next left into Smith Creek Crossing. Take 1st right (Windom Way, turns into Challenger Ave), take the 3rd left (Blanca Boulevard). The home is the right, Unit #193 Step outside to a nice yard area where you can relax and enjoy the amazing views of the surrounding mountains, perfect for outdoor gatherings or quiet moments of reflection. This property combines modern amenities with stunning natural beauty, making it an ideal place to call home.

20. 2026-03-20
    listed $129,500 Active
21. 2026-02-17
    price $249,500
22. 2026-01-23
    price $250,000
23. 2026-01-19
    price $232,400 1274-char remark

    Show marketing remark (1274 chars)

    *Welcome Home* This stunning property features a large, spacious living room with built-in shelving and an LED fireplace for ambiance and warmth, perfect for cozy evenings. The open concept kitchen with generous kitchen island offers ample storage and prep area. Stainless steel appliances, and stylish floating shelves and range hood make it a chef's delight. Enjoy your morning coffee at the built-in coffee bar, adding convenience and charm to your daily routine. This home includes three bedrooms and two bathrooms, highlighted by a large master suite with a walk-in closet, providing plenty of space for your belongings. The huge laundry room is equipped with a sink, an abundance of cabinet storage for organization and counter space to make laundry day a breeze. From Kremmling: Take Hwy 40 East, left onto Hwy 34, take next left into Smith Creek Crossing. Take 1st right (Windom Way, turns into Challenger Ave), take the 3rd left (Blanca Boulevard). The home is the right, Unit #193 Step outside to a nice yard area where you can relax and enjoy the amazing views of the surrounding mountains, perfect for outdoor gatherings or quiet moments of reflection. This property combines modern amenities with stunning natural beauty, making it an ideal place to call home.

24. 2025-12-31
    historical
25. 2025-12-30
    historical
26. 2025-11-25
    status Active
27. 2025-11-22
    status Pending
28. 2025-11-12
    price $234,900 1274-char remark

    Show marketing remark (1274 chars)

    *Welcome Home* This stunning property features a large, spacious living room with built-in shelving and an LED fireplace for ambiance and warmth, perfect for cozy evenings. The open concept kitchen with generous kitchen island offers ample storage and prep area. Stainless steel appliances, and stylish floating shelves and range hood make it a chef's delight. Enjoy your morning coffee at the built-in coffee bar, adding convenience and charm to your daily routine. This home includes three bedrooms and two bathrooms, highlighted by a large master suite with a walk-in closet, providing plenty of space for your belongings. The huge laundry room is equipped with a sink, an abundance of cabinet storage for organization and counter space to make laundry day a breeze. From Kremmling: Take Hwy 40 East, left onto Hwy 34, take next left into Smith Creek Crossing. Take 1st right (Windom Way, turns into Challenger Ave), take the 3rd left (Blanca Boulevard). The home is the right, Unit #193 Step outside to a nice yard area where you can relax and enjoy the amazing views of the surrounding mountains, perfect for outdoor gatherings or quiet moments of reflection. This property combines modern amenities with stunning natural beauty, making it an ideal place to call home.

29. 2025-11-05
    listed $239,900 Active
30. 2025-10-24
    listed $263,500 Active
31. 2025-10-16
    soldstatus $262,500 Closed
32. 2025-10-07
    price $235,000
33. 2025-09-27
    price $239,900 1274-char remark

    Show marketing remark (1274 chars)

    *Welcome Home* This stunning property features a large, spacious living room with built-in shelving and an LED fireplace for ambiance and warmth, perfect for cozy evenings. The open concept kitchen with generous kitchen island offers ample storage and prep area. Stainless steel appliances, and stylish floating shelves and range hood make it a chef's delight. Enjoy your morning coffee at the built-in coffee bar, adding convenience and charm to your daily routine. This home includes three bedrooms and two bathrooms, highlighted by a large master suite with a walk-in closet, providing plenty of space for your belongings. The huge laundry room is equipped with a sink, an abundance of cabinet storage for organization and counter space to make laundry day a breeze. From Kremmling: Take Hwy 40 East, left onto Hwy 34, take next left into Smith Creek Crossing. Take 1st right (Windom Way, turns into Challenger Ave), take the 3rd left (Blanca Boulevard). The home is the right, Unit #193 Step outside to a nice yard area where you can relax and enjoy the amazing views of the surrounding mountains, perfect for outdoor gatherings or quiet moments of reflection. This property combines modern amenities with stunning natural beauty, making it an ideal place to call home.

34. 2025-09-15
    listed $264,000 Active
35. 2025-09-01
    status Pending Accepting Backup Offers
36. 2025-08-29
    listed $259,999 Active 1274-char remark

    Show marketing remark (1274 chars)

    *Welcome Home* This stunning property features a large, spacious living room with built-in shelving and an LED fireplace for ambiance and warmth, perfect for cozy evenings. The open concept kitchen with generous kitchen island offers ample storage and prep area. Stainless steel appliances, and stylish floating shelves and range hood make it a chef's delight. Enjoy your morning coffee at the built-in coffee bar, adding convenience and charm to your daily routine. This home includes three bedrooms and two bathrooms, highlighted by a large master suite with a walk-in closet, providing plenty of space for your belongings. The huge laundry room is equipped with a sink, an abundance of cabinet storage for organization and counter space to make laundry day a breeze. From Kremmling: Take Hwy 40 East, left onto Hwy 34, take next left into Smith Creek Crossing. Take 1st right (Windom Way, turns into Challenger Ave), take the 3rd left (Blanca Boulevard). The home is the right, Unit #193 Step outside to a nice yard area where you can relax and enjoy the amazing views of the surrounding mountains, perfect for outdoor gatherings or quiet moments of reflection. This property combines modern amenities with stunning natural beauty, making it an ideal place to call home.

37. 2025-08-08
    listed $249,000 Active
38. 2025-08-07
    price $269,900
39. 2025-07-16
    price $260,000
40. 2025-07-14
    status Active
41. 2025-07-10
    historical
42. 2025-07-07
    price $275,000
43. 2025-06-27
    soldstatus $255,000 Closed
44. 2025-06-06
    listed $285,000 Active
45. 2025-05-31
    status Pending Accepting Backup Offers
46. 2025-04-07
    price $260,000
47. 2025-04-07
    price $265,000
48. 2025-02-25
    price $285,000
49. 2025-01-23
    listed $269,900 Active
50. 2025-01-14
    listed $320,000 Active

ⓘ 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 A · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥81°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $108,336
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$2,102
• − Repairs & maintenance: −$8,667
• − Management: −$8,667
• − Depreciation: −$3,488
• Taxable income: $76,897
• Est. tax owed @ 24.0%: −$18,455
• After-tax cash flow: $55,684/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: East Grand School District No. 2
• NCES district ID: 0804320
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 58% ▲ 4.00%
• Median HH income: $64,903
• Composite: 41.64/100
• National rank: #3424
• State rank: #17 of 86 in CO

Livability — Granby

• Score: 70/100
• State rank: #85
• US rank: #7574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granby, CO
• County: Grand County · 5,874 people
• City population: 4,017
• Metro: nan
• Population (ZIP): 4,017
• Household income: $74,973
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 105.0

Population outlook (Grand County) Hauer SSP2

• Today (2025): 14,498 people
• By 2030: 14,215 · -2.0%
• By 2040: 13,225 · -8.8%
• By 2050: 12,186 · -15.9%
• By 2075: 10,196 · -29.7%
• By 2100: 8,326 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 19% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Slovak 8% Portuguese 6% Romanian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 98% English-only · Russian/Polish/Slavic 1% French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Grand

• 2024 margin: Toss-up / Even · D 48.0% · R 48.8% · Other 3.2%
• 2008→2024 swing: +0.3pp no change · 2008: -1.1pp · 2024: -0.8pp
• All cycles: 2024: R+0.8 2020: R+1.8 2016: R+13.5 2012: R+7.2 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.78%
• Current HPI: 347.8691
• Rent YoY: —
• Metro: nan
• 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

-56.4% since first listed

44 events — show timeline

• 2026-05-19 Price Changed $119,900 REColorado as Distributed by MLS Grid
• 2026-05-08 Price Changed $124,500 REColorado as Distributed by MLS Grid
• 2026-04-10 Listing Removed — REColorado as Distributed by MLS Grid
• 2026-03-26 Price Changed $231,998 REColorado as Distributed by MLS Grid
• 2026-03-20 Listed $129,500 REColorado as Distributed by MLS Grid
• 2026-02-17 Price Changed $249,500 REColorado as Distributed by MLS Grid
• 2026-01-23 Price Changed $250,000 REColorado as Distributed by MLS Grid
• 2026-01-19 Price Changed $232,400 REColorado as Distributed by MLS Grid
• 2025-12-31 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-12-30 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-11-25 Relisted — REColorado as Distributed by MLS Grid
• 2025-11-22 Pending — REColorado as Distributed by MLS Grid
• 2025-11-12 Price Changed $234,900 REColorado as Distributed by MLS Grid
• 2025-11-05 Listed $239,900 REColorado as Distributed by MLS Grid
• 2025-10-24 Listed $263,500 REColorado as Distributed by MLS Grid
• 2025-10-16 Sold (MLS) $262,500 REColorado as Distributed by MLS Grid
• 2025-10-07 Price Changed $235,000 REColorado as Distributed by MLS Grid
• 2025-09-27 Price Changed $239,900 REColorado as Distributed by MLS Grid
• 2025-09-15 Listed $264,000 REColorado as Distributed by MLS Grid
• 2025-09-01 Pending — REColorado as Distributed by MLS Grid
• 2025-08-29 Listed $259,999 REColorado as Distributed by MLS Grid
• 2025-08-08 Listed $249,000 REColorado as Distributed by MLS Grid
• 2025-08-07 Price Changed $269,900 REColorado as Distributed by MLS Grid
• 2025-07-16 Price Changed $260,000 REColorado as Distributed by MLS Grid
• 2025-07-14 Relisted — REColorado as Distributed by MLS Grid
• 2025-07-10 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-07-07 Price Changed $275,000 REColorado as Distributed by MLS Grid
• 2025-06-27 Sold (MLS) $255,000 REColorado as Distributed by MLS Grid
• 2025-06-06 Listed $285,000 REColorado as Distributed by MLS Grid
• 2025-05-31 Pending — REColorado as Distributed by MLS Grid
• 2025-04-07 Price Changed $260,000 REColorado as Distributed by MLS Grid
• 2025-04-07 Price Changed $265,000 REColorado as Distributed by MLS Grid
• 2025-02-25 Price Changed $285,000 REColorado as Distributed by MLS Grid
• 2025-01-23 Listed $269,900 REColorado as Distributed by MLS Grid
• 2025-01-14 Listed $320,000 REColorado as Distributed by MLS Grid
• 2024-10-29 Price Changed $1,945 RENT.
• 2024-10-12 Price Changed $280,000 REColorado as Distributed by MLS Grid
• 2024-07-15 Listed $298,000 REColorado as Distributed by MLS Grid
• 2024-01-19 Sold (MLS) $195,000 GCAR
• 2024-01-10 Pending — GCAR
• 2024-01-02 Price Changed $199,000 GCAR
• 2023-11-21 Price Changed $210,000 GCAR
• 2023-09-01 Listed $247,000 GCAR
• 2023-07-18 Listed $274,995 GCAR