21980 Us-285 #48 · Fairplay, CO 80440

$120,000

2 bd · 1.0 ba · 1,178 sqft · Manufactured public records · 297 Days on market

Built 2022 435 sqft lot Est $134k · 11% under $870/mo HOA · 36% of rent

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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 +27.3/30.0
• ARV discount +12.3/15.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRE-SELLING now for Spring/Summer Delivery. FINANCING PROGRAM AVAILABLE THROUGH 21ST MORTGAGE. Beautifully manufactured home located in the new Village at Grandview. Upgraded finishes throughout include, cabinetry, windows, doors, crown molding, recessed LED lighting, smart programmable thermostats, and insulation. Kitchen appliances included with laundry hookups installed. Own a home near Breckenridge today for under $80k. Very high quality home, specifically built for high alpine environments.

Key facts

• Walk-in closet
• Community park
• 2 car parking area

Tags

• SMART SPLIT-BEDROOM FLOOR PLAN
• WALK-IN CLOSET
• IN UNIT LAUNDRY AREA
• 2 CAR PARKING AREA
• COMMUNITY PARK
• MOUNTAIN VIEWS

Property features AI

Finance

• HOA & community: Homeowners association with annual fee (reported)

Exterior

• Parking: Parking pad
• Utilities: Public water; Public sewer (sewer connected); Electricity available; Natural gas available; Cable available (cable connected); Phone available
• Home design: Mobile home, one level; Entry level: 1
• Construction: Metal and shingle roof
• Exterior features: Deck; Has a view; Paved public road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: Total rooms: 8
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Walk-in closets; Eat-in kitchen; Unfurnished
• Laundry & utility: Washer and dryer in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: 353 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 $830 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 297 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $78k; list at $120k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 2.03% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.37%
• DSCR: 1.55
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $134,292
• 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 (0%)	12mo	$125,000	$106	79
21980 Us-285 #7	0.09mi	3/2.0 (+1)	1,178 (0%)	11mo	$120,000	$102	78
21980 Us Highway 285 #23	0.06mi	3/2.0 (+1)	1,186 (+1%)	20mo	$142,000	$120	70
21980 Us Highway 285 #33	0.05mi	3/2.0 (+1)	1,186 (+1%)	21mo	$135,000	$114	70

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $3,117
• Equity at exit: $17,892

10-year hold

• IRR: 12.3%
• Equity multiple: 1.99×
• Total profit: $33,141
• Equity at exit: $10,375

Cash invested: $33,600 (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: 353
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,434 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$27 /mo · $325/yr
• Insurance: −$50
• HOA: −$870
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $346

Break-even live

Break-even rent $1,995

Max offer price $120,000

Occupancy floor 81%

Sensitivity live

Price	-10% $414	-5% $380	+0% $346	+5% $312	+10% $279
Rent	-10% $154	-5% $250	+0% $346	+5% $443	+10% $539
Rate	-1.0pp $407	-0.5pp $377	base $346	+0.5pp $315	+1.0pp $284

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $870 · $10,440/yr

Listing history 18 events

1. 2026-06-21
   days on market $120,000 Active 297 DOM
2. 2026-06-19
   days on market $120,000 Active 295 DOM
3. 2026-06-18
   days on market $120,000 Active 294 DOM
4. 2026-06-17
   days on market $120,000 Active 293 DOM
5. 2026-06-17
   days on market $120,000 Active 292 DOM
6. 2026-06-15
   days on market $120,000 Active 291 DOM
7. 2026-06-14
   days on market $120,000 Active 289 DOM
8. 2026-06-12
   days on market $120,000 Active 288 DOM
9. 2026-06-09
   days on market $120,000 Active 285 DOM
10. 2026-06-08
    days on market $120,000 Active 284 DOM
11. 2026-06-07
    days on market $120,000 Active 283 DOM
12. 2026-06-02
    days on market $120,000 Active 278 DOM
13. 2026-06-01
    days on market $120,000 Active 277 DOM
14. 2026-05-31
    days on market $120,000 Active 276 DOM
15. 2026-05-30
    days on market $120,000 Active 275 DOM
16. 2025-08-28
    listed $120,000 Active
17. 2021-05-12
    soldstatus $78,304 500-char remark

    Show marketing remark (500 chars)

    PRE-SELLING now for Spring/Summer Delivery. FINANCING PROGRAM AVAILABLE THROUGH 21ST MORTGAGE. Beautifully manufactured home located in the new Village at Grandview. Upgraded finishes throughout include, cabinetry, windows, doors, crown molding, recessed LED lighting, smart programmable thermostats, and insulation. Kitchen appliances included with laundry hookups installed. Own a home near Breckenridge today for under $80k. Very high quality home, specifically built for high alpine environments.

18. 2021-02-27
    listed $78,000 500-char remark

    Show marketing remark (500 chars)

    PRE-SELLING now for Spring/Summer Delivery. FINANCING PROGRAM AVAILABLE THROUGH 21ST MORTGAGE. Beautifully manufactured home located in the new Village at Grandview. Upgraded finishes throughout include, cabinetry, windows, doors, crown molding, recessed LED lighting, smart programmable thermostats, and insulation. Kitchen appliances included with laundry hookups installed. Own a home near Breckenridge today for under $80k. Very high quality home, specifically built for high alpine environments.

ⓘ 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: $660 · $55/mo
• Expected delta: +$335/yr (+$28/mo · 103.3%)

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

Taxation est. · year 1

• Rental income: $29,207
• − Mortgage interest: −$6,722
• − Property taxes: −$325
• − Insurance: −$600
• − Repairs & maintenance: −$2,337
• − Management: −$2,337
• − HOA: −$10,440
• − Depreciation: −$3,491
• Taxable income: $2,957
• Est. tax owed @ 24.0%: −$710
• After-tax cash flow: $3,448/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

+53.8% since first listed

3 events — show timeline

• 2025-08-28 Listed $120,000 SAR
• 2021-05-12 Sold (MLS) $78,304 SAR
• 2021-02-27 Listed $78,000 SAR

Property tax history

+28.3%/yr

Latest (2025): $325 · +281.6% YoY. Source: county tax records.