21980 Us-285 #20 · Fairplay, CO 80440

$130,000

2 bd · 2.0 ba · 1,186 sqft · Manufactured public records · 103 Days on market

Built 2022 435 sqft lot Est $135k · at est. $1295/mo HOA · 52% of rent

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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).

• 1% rule +10.0/10.0
• Cash flow +9.2/30.0
• ARV discount +9.2/15.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully maintained, move-in-ready single family home in the heart of Fairplay. This mountain gem features a spacious open-concept kitchen and living area, a spacious primary suite with en-suite bath, and convenient in-unit laundry. It is one of the rare properties in the neighborhood with a fully fenced yard, a charming front porch, and stunning mountain views. Enjoy an on-site park, plus easy access to local dining, and shopping. Perfect for outdoor enthusiasts, you are just 40 minutes from Breckenridge skiing and 40 minutes from Buena Vista rafting/biking. Leave the car at home and catch the free Summit Stage bus from the Main & 4th station for a stress-free commute to the slope

Key facts

• Charming front porch
• Open-concept kitchen
• On-site park

Tags

• OPEN-CONCEPT KITCHEN
• FULLY FENCED YARD
• CHARMING FRONT PORCH
• STUNNING MOUNTAIN VIEWS
• ON-SITE PARK

Property features AI

Finance

• Other: Located in FAIRPLAY MOBILE HOME PARK; Pets allowed
• HOA & community: Homeowners association with annual fee; Annual association fee listed

Exterior

• Parking: Parking pad
• Utilities: Shared well / well water; Natural gas available; Sewer available and connected
• Home design: Residential mobile home; Single-story
• Construction: Metal roof
• Exterior features: Deck; Corner lot; City lot; Landscaped; Paved road; Private maintained road

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bedrooms: 8 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Unfurnished; Has view
• Laundry & utility: In-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (13.3% below list).
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $113k (13.3% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 3.0% in Fairplay — 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 (#56 in CO) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: commute D+, crime F, amenities F.
• Park County School District No. Re-2 (rural): math 25% / reading 39% proficiency, ranked #89 of 176 in CO (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edith Teter Elementary School (math 15% / reading 34%, grade F, #604 of 966 statewide, top 63%, 211 students, 39% FRL); South Park Middle School (math 24% / reading 44%, grade F, #106 of 270 statewide, top 42%, 98 students, 36% FRL); South Park High School (math 10% / reading 70%, grade F, #167 of 381 statewide, top 46%, 124 students, 27% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 349 active listings in the ZIP; high-income renter base; 144 units permitted in Park County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Park County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 52% of rent.

Recommended offer $112,698 (13.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 1.91% ✓
• Cap rate: 5.39%
• Cash-on-cash: -3.23%
• DSCR: 0.86
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $135,204
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21980 US Highway 285 #60	0.04mi	3/2.0 (+1)	1,178 (-1%)	12mo	$125,000	$106	82
21980 Us-285 #7	0.09mi	3/2.0 (+1)	1,178 (-1%)	11mo	$120,000	$102	80
21980 Us Highway 285 #23	0.06mi	3/2.0 (+1)	1,186 (0%)	20mo	$142,000	$120	76
21980 Us Highway 285 #33	0.05mi	3/2.0 (+1)	1,186 (0%)	21mo	$135,000	$114	75

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: -20.9%
• Equity multiple: 0.27×
• Total profit: $-26,554
• Equity at exit: $19,383

10-year hold

• IRR: -12.8%
• Equity multiple: 0.23×
• Total profit: $-28,108
• Equity at exit: $11,240

Cash invested: $36,400 (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 80440

• Home prices YoY: -28.1%
• Active inventory: 349
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,481 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$27 /mo · $325/yr
• Insurance: −$54
• HOA: −$1,295
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $-98

Break-even live

Break-even rent $2,605

Max offer price $112,698

Occupancy floor 99%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $1,295 · $15,540/yr

Listing history 15 events

1. 2026-06-19
   days on market $130,000 Active 103 DOM
2. 2026-06-18
   days on market $130,000 Active 102 DOM
3. 2026-06-17
   days on market $130,000 Active 101 DOM
4. 2026-06-17
   days on market $130,000 Active 100 DOM
5. 2026-06-15
   days on market $130,000 Active 99 DOM
6. 2026-06-14
   days on market $130,000 Active 97 DOM
7. 2026-06-12
   days on market $130,000 Active 96 DOM
8. 2026-06-09
   days on market $130,000 Active 93 DOM
9. 2026-06-08
   days on market $130,000 Active 92 DOM
10. 2026-06-07
    days on market $130,000 Active 91 DOM
11. 2026-06-02
    days on market $130,000 Active 86 DOM
12. 2026-06-01
    days on market $130,000 Active 85 DOM
13. 2026-05-31
    days on market $130,000 Active 84 DOM
14. 2026-05-30
    days on market $130,000 Active 83 DOM
15. 2026-03-08
    listed $130,000 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: $325 · $27/mo
• Projected year-2 tax: $715 · $60/mo
• Expected delta: +$390/yr (+$32/mo · 119.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $29,773
• − Mortgage interest: −$7,282
• − Property taxes: −$325
• − Insurance: −$650
• − Repairs & maintenance: −$2,382
• − Management: −$2,382
• − HOA: −$15,540
• − Depreciation: −$3,782
• Taxable loss: −$2,570
• Est. tax savings @ 24.0%: +$617
• After-tax cash flow: $-559/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: Park County School District No. Re-2
• NCES district ID: 0803840
• Math proficiency: 25% ▲ 6.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $51,367
• Composite: 30.72/100
• National rank: #11416
• State rank: #89 of 176 in CO

Livability — Fairplay

• Score: 73/100
• State rank: #56
• US rank: #5693

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Park County · 3,502 people
• City population: 3,502
• Metro: Denver-Aurora-Lakewood, CO
• Population (ZIP): 3,502
• Household income: $116,143
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 40.0

Population outlook (Park County) Hauer SSP2

• Today (2025): 17,411 people
• By 2030: 17,584 · +1.0%
• By 2040: 17,261 · -0.9%
• By 2050: 16,115 · -7.4%
• By 2075: 14,174 · -18.6%
• By 2100: 11,928 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 9% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 14% Romanian 6% Italian 6%
• Foreign-born: 2%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Park

• 2024 margin: R (+16.5) · D 40.2% · R 56.7% · Other 3.1%
• 2008→2024 swing: -9.6pp toward R · 2008: -6.9pp · 2024: -16.5pp
• All cycles: 2024: R+16.5 2020: R+17.0 2016: R+26.4 2012: R+15.1 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.95%
• Current HPI: 311.6556
• Rent YoY: —
• Metro: Denver-Aurora-Lakewood, 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

1 event — show timeline

• 2026-03-08 Listed $130,000 SAR

Property tax history

+100.0%/yr

Latest (2025): $325 · +282.3% YoY. Source: county tax records.