1166 Madison Ave #129 · Loveland, CO 80537

$125,000

3 bd · 2.0 ba · 2,128 sqft · Manufactured public records · 56 Days on market

Built 1997 4,356 sqft lot Est $126k · at est. $1350/mo HOA · 55% of rent

---

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
• ARV discount +7.7/15.0
• Cash flow +7.1/30.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

1997 Summit Crest Home located in Brymar Adult Only Park. 3 bedrooms, 2 full baths & covered carport. Extremely spacious home! Walk into a lovely formal living room with a fireplace & marble mantel. Cathedral ceilings & open archways give this home a grand feeling. Adjoing formal dining room leads into the large, sunny kitchen. The Kitchen has lots of cabinets for storage, plenty of countertop space and a walk-n pantry. Kitchen looks into the Family Room & office/den with french glass doors.

Key facts

• Gated community
• Covered porch
• Generous shed

Tags

• GATED COMMUNITY
• DEDICATED OFFICE
• COVERED PORCH
• LARGE LOT
• COVERED PARKING
• GENEROUS SHED

Property features AI

Finance

• HOA & community: Monthly association/lot rent ($1,350) — Aspen Ridge Lot Rent; Association transfer fee required; Association has reserves; Association fees include common amenities and utilities

Exterior

• Parking: Carport; 2 covered parking spaces
• Utilities: Natural gas available; Water meter installed; Sewer: see remarks
• Home design: Manufactured in park (Mobile Home); Single-story; Not new — previously owned
• Construction: Composition roof; Composition and wood siding exterior
• Exterior features: Minimal flood risk (C rating)

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Garbage disposal
• Bedrooms: 3 bedrooms (all conforming)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Electric range; Dishwasher; Refrigerator; Garbage disposal; Fire alarm; Study

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $-177 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (25.0% below list).
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $94k (25.0% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 2.9% in Loveland — 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 (#52 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A; Watch: crime C-, commute F, cost of living 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: Winona Elementary School (math 15% / reading 22%, grade F, #724 of 966 statewide, top 77%, 250 students, 68% FRL); Mountain View High School (math 24% / reading 51%, grade F, #192 of 381 statewide, top 51%, 1,138 students, 35% FRL) — zoned schools average 51% FRL vs 29% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 283 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).
• This rent runs 34% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $41k; list at $125k implies a 205% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 55% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,808 (25.0% 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 56 days. Have you received any prior offers? Is the seller open to a 25% 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. 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 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: 1.96% ✓
• Cap rate: 4.60%
• Cash-on-cash: -6.05%
• DSCR: 0.73
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $125,552
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1166 Madison Ave #129	0.00mi	3/2.0	2,128 (0%)	1mo	$125,000	$59	100

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 · 3.57% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.16×
• Total profit: $-29,283
• Equity at exit: $18,638

10-year hold

• IRR: -13.9%
• Equity multiple: 0.12×
• Total profit: $-30,842
• Equity at exit: $10,808

Cash invested: $35,000 (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 80537

• Rents YoY: 3.6%
• Active inventory: 283
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,451 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$56 /mo · $666/yr
• Insurance: −$52
• HOA: −$1,350
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $-177

Break-even live

Break-even rent $2,675

Max offer price $93,808

Occupancy floor —

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
325 E 5th St Loveland, CO	3.0	1.0–2.0	1188	$2,335	$1.97	13d	1	1.00mi
2597 Turquoise St Loveland, CO	3.0	2.0	2446	$2,485	$1.02	13d	1	1.01mi
246 N Cleveland Ave Loveland, CO	3.0	1.0–2.0	1022	$3,102	$3.03	13d	11	1.18mi

HOA detail

• Monthly dues: $1,350 · $16,200/yr

Listing history 15 events

1. 2026-06-08
   days on market $125,000 Active 56 DOM
2. 2026-06-07
   days on market $125,000 Active 55 DOM
3. 2026-06-03
   days on market $125,000 Active 51 DOM
4. 2026-06-02
   days on market $125,000 Active 50 DOM
5. 2026-06-01
   days on market $125,000 Active 49 DOM
6. 2026-05-31
   days on market $125,000 Active 48 DOM
7. 2026-05-30
   days on market $125,000 Active 47 DOM
8. 2026-02-18
   listed $125,000 Active
9. 2011-10-11
   soldstatus $41,000 Sold 512-char remark

   Show marketing remark (512 chars)

   1997 Summit Crest Home located in Brymar Adult Only Park. 3 bedrooms, 2 full baths & covered carport. Extremely spacious home! Walk into a lovely formal living room with a fireplace & marble mantel. Cathedral ceilings & open archways give this home a grand feeling. Adjoing formal dining room leads into the large, sunny kitchen. The Kitchen has lots of cabinets for storage, plenty of countertop space and a walk-n pantry. Kitchen looks into the Family Room & office/den with french glass doors.

10. 2011-10-03
    historical Active - Backup 512-char remark

    Show marketing remark (512 chars)

    1997 Summit Crest Home located in Brymar Adult Only Park. 3 bedrooms, 2 full baths & covered carport. Extremely spacious home! Walk into a lovely formal living room with a fireplace & marble mantel. Cathedral ceilings & open archways give this home a grand feeling. Adjoing formal dining room leads into the large, sunny kitchen. The Kitchen has lots of cabinets for storage, plenty of countertop space and a walk-n pantry. Kitchen looks into the Family Room & office/den with french glass doors.

11. 2011-09-22
    price $49,000 512-char remark

    Show marketing remark (512 chars)

    1997 Summit Crest Home located in Brymar Adult Only Park. 3 bedrooms, 2 full baths & covered carport. Extremely spacious home! Walk into a lovely formal living room with a fireplace & marble mantel. Cathedral ceilings & open archways give this home a grand feeling. Adjoing formal dining room leads into the large, sunny kitchen. The Kitchen has lots of cabinets for storage, plenty of countertop space and a walk-n pantry. Kitchen looks into the Family Room & office/den with french glass doors.

12. 2011-09-15
    status Active 512-char remark

    Show marketing remark (512 chars)

    1997 Summit Crest Home located in Brymar Adult Only Park. 3 bedrooms, 2 full baths & covered carport. Extremely spacious home! Walk into a lovely formal living room with a fireplace & marble mantel. Cathedral ceilings & open archways give this home a grand feeling. Adjoing formal dining room leads into the large, sunny kitchen. The Kitchen has lots of cabinets for storage, plenty of countertop space and a walk-n pantry. Kitchen looks into the Family Room & office/den with french glass doors.

13. 2011-08-31
    historical Active - Backup 512-char remark

    Show marketing remark (512 chars)

    1997 Summit Crest Home located in Brymar Adult Only Park. 3 bedrooms, 2 full baths & covered carport. Extremely spacious home! Walk into a lovely formal living room with a fireplace & marble mantel. Cathedral ceilings & open archways give this home a grand feeling. Adjoing formal dining room leads into the large, sunny kitchen. The Kitchen has lots of cabinets for storage, plenty of countertop space and a walk-n pantry. Kitchen looks into the Family Room & office/den with french glass doors.

14. 2011-08-12
    price $53,700 512-char remark

    Show marketing remark (512 chars)

    1997 Summit Crest Home located in Brymar Adult Only Park. 3 bedrooms, 2 full baths & covered carport. Extremely spacious home! Walk into a lovely formal living room with a fireplace & marble mantel. Cathedral ceilings & open archways give this home a grand feeling. Adjoing formal dining room leads into the large, sunny kitchen. The Kitchen has lots of cabinets for storage, plenty of countertop space and a walk-n pantry. Kitchen looks into the Family Room & office/den with french glass doors.

15. 2011-08-02
    listed $52,000 Active 512-char remark

    Show marketing remark (512 chars)

    1997 Summit Crest Home located in Brymar Adult Only Park. 3 bedrooms, 2 full baths & covered carport. Extremely spacious home! Walk into a lovely formal living room with a fireplace & marble mantel. Cathedral ceilings & open archways give this home a grand feeling. Adjoing formal dining room leads into the large, sunny kitchen. The Kitchen has lots of cabinets for storage, plenty of countertop space and a walk-n pantry. Kitchen looks into the Family Room & office/den with french glass doors.

ⓘ 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: $666 · $56/mo
• Projected year-2 tax: $688 · $57/mo
• Expected delta: +$21/yr (+$2/mo · 3.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,416
• − Mortgage interest: −$7,002
• − Property taxes: −$666
• − Insurance: −$625
• − Repairs & maintenance: −$2,353
• − Management: −$2,353
• − HOA: −$16,200
• − Depreciation: −$3,636
• Taxable loss: −$3,420
• Est. tax savings @ 24.0%: +$821
• After-tax cash flow: $-1,298/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 — Loveland

• Score: 73/100
• State rank: #52
• US rank: #5353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loveland, CO
• County: Larimer County · 338,255 people
• City population: 94,535
• Metro: Fort Collins, CO
• Population (ZIP): 44,425
• Household income: $86,325
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1703.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 8%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 4% Italian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -606.26%
• Current HPI: 253.4939
• Rent YoY: ▲ 3.57%
• 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

+140.4% since first listed

8 events — show timeline

• 2026-02-18 Listed $125,000 IRES
• 2011-10-11 Sold (MLS) $41,000 IRES
• 2011-10-03 Contingent — IRES
• 2011-09-22 Price Changed $49,000 IRES
• 2011-09-15 Relisted — IRES
• 2011-08-31 Contingent — IRES
• 2011-08-12 Price Changed $53,700 IRES
• 2011-08-02 Listed $52,000 IRES

Property tax history

+3.6%/yr

Latest (2025): $666 · +76.7% YoY. Source: county tax records.