234 Panorama Dr · Brook Forest, CO 80421

$225,000

3 bd · 1.0 ba · 696 sqft · Manufactured public records · 36 Days on market

Built 1972 1.83 ac lot

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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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +4.7/10.0
• Schools +4.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully functional 1972 purged mobile home on foundation with 608sq ft addition. Great place to camp while you build your forever home. Gorgeous 1.83 acres with rare domestic well and functioning septic system plus a two car detached garage. Nestled at the base of Lone Rock, enjoy the stunning easterly views of Pikes Peak and the Bailey Range. Several amazing building sites featuring natural landscaping, rock outcroppings, aspen and pine. Wildlife of all kinds will grace your property with their daily presence, viable horse property in popular horse community, near by trails will take you to Meridian Trail and all the way to Mt Blue Sky. Endless opportunities to indulge yourself in the wild life. Many possibilities exist with this unique property that offers so much. To be sold as is as seller will not make repairs. Seller will provide Park Country Use Permit to verify septic system is functioning at a county standard.

Key facts

• Natural landscaping
• Rock outcroppings
• Domestic well

Tags

• DOMESTIC WELL
• SEPTIC SYSTEM
• DETACHED GARAGE
• EASTERLY VIEWS
• NATURAL LANDSCAPING
• ROCK OUTCROPPINGS

Property features AI

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Security: Carbon monoxide detector(s)
• Utilities: Well water; Septic tank; Cable available; Electricity connected (110V and 220V); Natural gas available; Phone available
• Home design: Manufactured house; Single family residence; Two levels; Faces east; Property unattached; Individual ownership
• Construction: Frame with wood siding; Block foundation; Metal roof; Built as manufactured housing
• Exterior features: Private yard; Front porch

Interior

• Kitchen: Oven; Range
• Bedrooms: 1 bedroom (upper level)
• Flooring: Linoleum
• Bathrooms: 1 three-quarter bath (main level)
• Heating & cooling: Propane heating
• Interior features: Partially furnished; Carbon monoxide detector(s)
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (3.3% below list).
• Recommended offer: $217k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 2.8% in Brook Forest — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Platte Canyon School District No. 1 Of The County Of Park (rural): math 38% / reading 66% proficiency, ranked #9 of 86 in CO (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Platte Canyon High School (math 44% / reading 74%, grade C+, #53 of 381 statewide, top 17%, 228 students, 14% FRL).
• Market conditions: 142 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $7k 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 36 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $119k; list at $225k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $217,471 (3.3% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.97% ✗
• Cap rate: 8.28%
• Cash-on-cash: 7.09%
• DSCR: 1.32
• GRM: 8.6

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: -5.5%
• Equity multiple: 0.80×
• Total profit: $-12,859
• Equity at exit: $33,548

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $18,927
• Equity at exit: $19,454

Cash invested: $63,000 (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 80421

• Active inventory: 142
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,175 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$72 /mo · $868/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $372

Break-even live

Break-even rent $1,704

Max offer price $225,000

Occupancy floor 78%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   price $225,000 Active 36 DOM
2. 2026-06-18
   days on market $250,000 Active 36 DOM
3. 2026-06-17
   days on market $250,000 Active 35 DOM
4. 2026-06-16
   days on market $250,000 Active 34 DOM
5. 2026-06-15
   days on market $250,000 Active 33 DOM
6. 2026-06-13
   days on market $250,000 Active 31 DOM
7. 2026-06-09
   days on market $250,000 Active 27 DOM
8. 2026-06-08
   days on market $250,000 Active 26 DOM
9. 2026-06-07
   days on market $250,000 Active 25 DOM
10. 2026-06-04
    days on market $250,000 Active 22 DOM
11. 2026-06-03
    days on market $250,000 Active 21 DOM
12. 2026-06-02
    days on market $250,000 Active 20 DOM
13. 2026-06-01
    days on market $250,000 Active 19 DOM
14. 2026-05-31
    days on market $250,000 Active 18 DOM
15. 2026-05-13
    listed $250,000 Active 930-char remark

    Show marketing remark (930 chars)

    Fully functional 1972 purged mobile home on foundation with 608sq ft addition. Great place to camp while you build your forever home. Gorgeous 1.83 acres with rare domestic well and functioning septic system plus a two car detached garage. Nestled at the base of Lone Rock, enjoy the stunning easterly views of Pikes Peak and the Bailey Range. Several amazing building sites featuring natural landscaping, rock outcroppings, aspen and pine. Wildlife of all kinds will grace your property with their daily presence, viable horse property in popular horse community, near by trails will take you to Meridian Trail and all the way to Mt Blue Sky. Endless opportunities to indulge yourself in the wild life. Many possibilities exist with this unique property that offers so much. To be sold as is as seller will not make repairs. Seller will provide Park Country Use Permit to verify septic system is functioning at a county standard.

16. 2026-05-13
    listed $250,000 Active 930-char remark

    Show marketing remark (930 chars)

    Fully functional 1972 purged mobile home on foundation with 608sq ft addition. Great place to camp while you build your forever home. Gorgeous 1.83 acres with rare domestic well and functioning septic system plus a two car detached garage. Nestled at the base of Lone Rock, enjoy the stunning easterly views of Pikes Peak and the Bailey Range. Several amazing building sites featuring natural landscaping, rock outcroppings, aspen and pine. Wildlife of all kinds will grace your property with their daily presence, viable horse property in popular horse community, near by trails will take you to Meridian Trail and all the way to Mt Blue Sky. Endless opportunities to indulge yourself in the wild life. Many possibilities exist with this unique property that offers so much. To be sold as is as seller will not make repairs. Seller will provide Park Country Use Permit to verify septic system is functioning at a county standard.

17. 2013-11-04
    historical
18. 2013-05-06
    listed $129,900
19. 1997-09-12
    soldstatus $118,900

ⓘ 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: $868 · $72/mo
• Projected year-2 tax: $1,238 · $103/mo
• Expected delta: +$370/yr (+$31/mo · 42.6%)

ⓘ 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 7/10 Severe
• 🌡 Heat 1/10 Low 4 d/yr ≥81°F today · 10 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,097
• − Mortgage interest: −$12,603
• − Property taxes: −$868
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,088
• − Management: −$2,088
• − Depreciation: −$6,545
• Taxable income: $780
• Est. tax owed @ 24.0%: −$187
• After-tax cash flow: $4,278/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: Platte Canyon School District No. 1 Of The County Of Park
• NCES district ID: 0802370
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 66% ▲ 10.00%
• Median HH income: $67,757
• Composite: 46.03/100
• National rank: #2523
• State rank: #9 of 86 in CO

Livability — Brook Forest

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 8,601

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 10% Two or more races 6% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Italian 4% Slovak 3% Portuguese 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -240.29%
• Current HPI: 322.1809
• Rent YoY: —
• Metro: —
• 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

+110.3% since first listed

5 events — show timeline

• 2026-05-13 Listed $250,000 IRES
• 2026-05-13 Listed $250,000 REColorado as Distributed by MLS Grid
• 2013-11-04 Listing Removed — REColorado as Distributed by MLS Grid
• 2013-05-06 Listed $129,900 REColorado as Distributed by MLS Grid
• 1997-09-12 Sold (Public Records) $118,900 Public Records

Property tax history

+6.7%/yr

Latest (2025): $868 · +28.8% YoY. Source: county tax records.