351 E 2nd St · Akron, CO 80720

$254,900

25 bd · 25.0 ba · 1,320 sqft · MultiFamily public records · 108 Days on market

Built 1955 3,920 sqft lot

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Why this score? — see what drove the B- 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
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

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

CASH FLOW! Currently this multi-unit property is professionally managed and provides 5 - 1 bedroom/ 1 bathroom units. In the basement there is a studio room, 2 storage rooms (one with water), and a supply room with water & cabs for either landlord use or could be an additional unit for more potential income! Off street parking in the back or could be changed to use a communal yard. Separate electric meters and tenants pay their own. Landlord pays other utilities. Call today for your private showing or additional info!

Key facts

• Updated electrical
• Brand new roof
• New furnaces

Tags

• BRAND NEW ROOF
• UPDATED ELECTRICAL
• NEW FURNACES
• FRESH EXTERIOR PAINT
• FRESH INTERIOR PAINT
• NEW WINDOWS

Property features AI

Finance

• Financial info: Total of 5 units; Net operating income reported as -1,695; Tenants pay electricity
• HOA & community: No association fees or transfer fees; No association reserves

Exterior

• Utilities: City water with meter installed; No water rights; Public sewer; Natural gas available; Electricity available; Trash service: Town of Akron
• Home design: One-story residential income property; Multi-family building; Not new construction, previously owned; Zoned RES
• Construction: Frame construction; Composition roof
• Exterior features: Level lot; Paved with curbs; Alley access; City street frontage; Minimal flood risk (C rating)

Interior

• Kitchen: Appliances include washer and dryer (laundry in-unit)
• Bedrooms: Five 1-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Wall furnace heating
• Interior features: Partially finished full basement; Washer and dryer included
• Laundry & utility: In-unit laundry (washer and dryer); Community laundry available

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/1.0-bath units multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $255k).
• Recommended offer: $232k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#182 in CO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Akron School District No. R-1 (rural): math 20% / reading 30% proficiency, ranked #133 of 176 in CO (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Akron Elementary School (math 17% / reading 34%, grade F, #594 of 966 statewide, top 62%, 327 students, 57% FRL); Akron High School (math 10% / reading 30%, grade F, #315 of 381 statewide, top 85%, 100 students, 42% FRL).
• Market conditions: 28 active listings in the ZIP; 2 units permitted in Washington 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 $8k of value loss. Plan a longer hold.
• Washington County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $71k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 20y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $231,959 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.56% ✓
• Cap rate: 13.62%
• Cash-on-cash: 26.18%
• DSCR: 2.16
• GRM: 5.3

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: 19.9%
• Equity multiple: 1.81×
• Total profit: $57,802
• Equity at exit: $38,006

10-year hold

• IRR: 28.1%
• Equity multiple: 3.49×
• Total profit: $177,812
• Equity at exit: $22,039

Cash invested: $71,372 (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 80720

• Home prices YoY: -20.1%
• Active inventory: 28
• Price-to-rent: 26.7×

Monthly cashflow live

• Estimated rent: $3,976 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$141 /mo · $1,695/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$835
• Net cashflow: $1,557

Break-even live

Break-even rent $2,005

Max offer price $254,900

Occupancy floor 56%

Sensitivity live

Price	-10% $1,701	-5% $1,629	+0% $1,557	+5% $1,485	+10% $1,413
Rent	-10% $1,243	-5% $1,400	+0% $1,557	+5% $1,714	+10% $1,871
Rate	-1.0pp $1,685	-0.5pp $1,622	base $1,557	+0.5pp $1,491	+1.0pp $1,424

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$3,975
Total (5 units)			$3,976

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Listing history 49 events

1. 2026-06-21
   days on market $254,900 Active 108 DOM
2. 2026-06-19
   days on market $254,900 Active 106 DOM
3. 2026-06-18
   days on market $254,900 Active 105 DOM
4. 2026-06-17
   days on market $254,900 Active 104 DOM
5. 2026-06-16
   days on market $254,900 Active 103 DOM
6. 2026-06-15
   days on market $254,900 Active 102 DOM
7. 2026-06-14
   days on market $254,900 Active 100 DOM
8. 2026-06-12
   days on market $254,900 Active 99 DOM
9. 2026-06-09
   days on market $254,900 Active 96 DOM
10. 2026-06-08
    days on market $254,900 Active 95 DOM
11. 2026-06-07
    days on market $254,900 Active 94 DOM
12. 2026-06-04
    days on market $254,900 Active 90 DOM
13. 2026-06-02
    days on market $254,900 Active 89 DOM
14. 2026-06-01
    days on market $254,900 Active 88 DOM
15. 2026-05-31
    days on market $254,900 Active 87 DOM
16. 2026-05-31
    days on market $254,900 Active 86 DOM
17. 2026-05-01
    price $254,900
18. 2026-04-07
    price $260,000
19. 2026-04-03
    status Active
20. 2026-03-15
    historical Active Under Contract
21. 2026-03-05
    listed $270,000 Active
22. 2026-01-16
    historical
23. 2025-08-21
    price $265,000
24. 2025-08-05
    price $275,000
25. 2025-06-20
    listed $280,000 Active
26. 2024-11-04
    historical $650
27. 2024-10-15
    listed $650
28. 2024-10-15
    historical $700
29. 2024-10-14
    price $700
30. 2024-09-14
    historical $775
31. 2024-09-11
    listed $775
32. 2024-09-05
    listed $775
33. 2024-04-14
    historical $650
34. 2024-04-10
    listed $650
35. 2024-04-10
    historical
36. 2024-03-29
    soldstatus $226,000
37. 2024-03-28
    soldstatus $226,000 Sold 527-char remark

    Show marketing remark (527 chars)

    CASH FLOW! Currently this multi-unit property is professionally managed and provides 5 - 1 bedroom/ 1 bathroom units. In the basement there is a studio room, 2 storage rooms (one with water), and a supply room with water & cabs for either landlord use or could be an additional unit for more potential income! Off street parking in the back or could be changed to use a communal yard. Separate electric meters and tenants pay their own. Landlord pays other utilities. Call today for your private showing or additional info!

38. 2024-03-13
    listed
39. 2024-03-01
    historical Active - Backup 527-char remark

    Show marketing remark (527 chars)

    CASH FLOW! Currently this multi-unit property is professionally managed and provides 5 - 1 bedroom/ 1 bathroom units. In the basement there is a studio room, 2 storage rooms (one with water), and a supply room with water & cabs for either landlord use or could be an additional unit for more potential income! Off street parking in the back or could be changed to use a communal yard. Separate electric meters and tenants pay their own. Landlord pays other utilities. Call today for your private showing or additional info!

40. 2024-02-23
    listed $261,000 Active 527-char remark

    Show marketing remark (527 chars)

    CASH FLOW! Currently this multi-unit property is professionally managed and provides 5 - 1 bedroom/ 1 bathroom units. In the basement there is a studio room, 2 storage rooms (one with water), and a supply room with water & cabs for either landlord use or could be an additional unit for more potential income! Off street parking in the back or could be changed to use a communal yard. Separate electric meters and tenants pay their own. Landlord pays other utilities. Call today for your private showing or additional info!

41. 2024-01-13
    historical
42. 2023-09-17
    listed
43. 2011-09-14
    historical
44. 2010-09-17
    listed $69,900
45. 2007-08-02
    historical
46. 2007-05-21
    listed $89,900
47. 2006-05-02
    historical
48. 2006-02-21
    listed $55,000
49. 2001-09-07
    soldstatus $41,700

ⓘ 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: $1,695 · $141/mo
• Projected year-2 tax: $1,695 · $141/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $47,712
• − Mortgage interest: −$14,278
• − Property taxes: −$1,695
• − Insurance: −$1,274
• − Repairs & maintenance: −$3,817
• − Management: −$3,817
• − Depreciation: −$7,415
• Taxable income: $15,415
• Est. tax owed @ 24.0%: −$3,700
• After-tax cash flow: $14,982/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: Akron School District No. R-1
• NCES district ID: 0802040
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 30% ▬ 0.00%
• Median HH income: $43,432
• Composite: 24.45/100
• National rank: #13089
• State rank: #133 of 176 in CO

Livability — Akron

• Score: 63/100
• State rank: #182
• US rank: #15125

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Akron, CO
• Population (ZIP): 2,248

Population outlook (Washington County) Hauer SSP2

• Today (2025): 4,919 people
• By 2030: 4,920 · +0.0%
• By 2040: 4,871 · -1.0%
• By 2050: 4,758 · -3.3%
• By 2075: 4,694 · -4.6%
• By 2100: 3,991 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 11% Two or more races 7%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 2% Iranian 2% Portuguese 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+75.1) · D 11.7% · R 86.8% · Other 1.5%
• 2008→2024 swing: -18.6pp toward R · 2008: -56.5pp · 2024: -75.1pp
• All cycles: 2024: R+75.1 2020: R+74.0 2016: R+73.7 2012: R+62.2 2008: R+56.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.14%
• Current HPI: 215.6892
• 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

+511.3% since first listed

33 events — show timeline

• 2026-05-01 Price Changed $254,900 IRES
• 2026-04-07 Price Changed $260,000 IRES
• 2026-04-03 Relisted — IRES
• 2026-03-15 Contingent — IRES
• 2026-03-05 Listed $270,000 IRES
• 2026-01-16 Listing Removed — IRES
• 2025-08-21 Price Changed $265,000 IRES
• 2025-08-05 Price Changed $275,000 IRES
• 2025-06-20 Listed $280,000 IRES
• 2024-11-04 Rental Removed $650 RENTALBEAST
• 2024-10-15 Listed for Rent $650 RENTALBEAST
• 2024-10-15 Rental Removed $700 RENTALBEAST
• 2024-10-14 Price Changed $700 RENTALBEAST
• 2024-09-14 Rental Removed $775 RENTALBEAST
• 2024-09-11 Listed for Rent $775 RENTALBEAST
• 2024-09-05 Listed for Rent $775 RENTALBEAST
• 2024-04-14 Rental Removed $650 APPFOLIO
• 2024-04-10 Listed for Rent $650 APPFOLIO
• 2024-04-10 Rental Removed — APPFOLIO
• 2024-03-29 Sold (Public Records) $226,000 Public Records
• 2024-03-28 Sold (MLS) $226,000 IRES
• 2024-03-13 Listed for Rent — APPFOLIO
• 2024-03-01 Contingent — IRES
• 2024-02-23 Listed $261,000 IRES
• 2024-01-13 Rental Removed — APPFOLIO
• 2023-09-17 Listed for Rent — APPFOLIO
• 2011-09-14 Listing Removed — IRES
• 2010-09-17 Listed $69,900 IRES
• 2007-08-02 Listing Removed — IRES
• 2007-05-21 Listed $89,900 IRES
• 2006-05-02 Listing Removed — IRES
• 2006-02-21 Listed $55,000 IRES
• 2001-09-07 Sold (Public Records) $41,700 Public Records

Property tax history

+21.2%/yr

Latest (2025): $1,695 · +1225.7% YoY. Source: county tax records.