5775 Sunnybrook Ct #28

Loveland, CO 80538

$85,500B

3 bd · 2.0 ba · 1,120 sqft · Built 1992 · Manufactured · Active · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,990/mo
• Mortgage (P&I): −$448
• Tax + insurance: −$63
• HOA: −$0
• Vac / Maint / Mgmt: −$418
• Net cashflow: $1,061/mo
• Annual: $12,730/yr
• Cap rate: 21.18%
• Cash-on-cash: 53.17%
• DSCR: 3.37
• 1% rule: 2.33%
• Cash to close: $23,940

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $86k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• It's been on market 81 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $591 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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: Cottonwood Plains Elementary School (math 15% / reading 32%, grade F, #634 of 966 statewide, top 67%, 386 students, 52% FRL); Lucile Erwin Middle School (math 18% / reading 35%, grade F, #160 of 270 statewide, top 60%, 712 students, 36% FRL); Loveland High School (math 35% / reading 71%, grade C-, #88 of 381 statewide, top 23%, 1,525 students, 28% FRL).
• Market conditions: Rents rising (+3.1%/yr); 430 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 10y 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 $50k; list at $86k implies a 71% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 21.2% 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.

Questions for listing agent

• It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.