860 W 132nd Ave #85 · Westminster, CO 80234

$135,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 243 Days on market

Built 2013

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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
• Schools +3.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 2014 Home - 1,456 Sq Ft of Modern Comfort!Step into this beautifully maintained and generously sized 3-bedroom, 2-bath of living space! You'll love the open-concept layout, featuring a large kitchen with updated countertops and appliances, plenty of cabinet storage, and a spacious living area perfect for entertaining. Highlights: Fresh modern finishes throughout Oversized primary suite with private bath and walk-in closet Separate laundry room and abundant natural light Central heating and cooling for year-round comfort Backing to peaceful open space. Located in a well-kept community with easy access to shopping, dining, and transit. Whether you're upsizing or looking for a low-mai

Key facts

• Large kitchen
• Updated countertops
• Peaceful open space

Tags

• OPEN-CONCEPT LAYOUT
• LARGE KITCHEN
• UPDATED COUNTERTOPS
• ABUNDANT NATURAL LIGHT
• CENTRAL HEATING AND COOLING
• PEACEFUL OPEN SPACE

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: No garage; No designated parking features
• Utilities: City water with meter installed; Natural gas available (Xcel); Trash service: Casa Estates
• Home design: Manufactured in park (mobile home)
• Construction: Vinyl siding; Composition roof
• Exterior features: Paved lot; Street lighting; Storage structure; Level lot

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator; Disposal
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Open floorplan; Walk-in closet(s); Kitchen island; Window coverings; Fire alarm
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• 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 $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 2.8% in Westminster — 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 70/100 on livability (#81 in CO) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: health & safety D, crime D-, amenities F.
• Adams 12 Five Star Schools (suburban): math 31% / reading 46% proficiency, ranked #26 of 86 in CO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Centennial Elementary School (math 15% / reading 32%, grade F, #634 of 966 statewide, top 67%, 384 students, 71% FRL); Legacy High School (math 59% / reading 73%, grade B, #30 of 381 statewide, top 8%, 2,230 students, 22% FRL).
• Market conditions: Rents falling (-3.0%/yr); 142 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,299 units permitted in Adams County in 2024 (343 in 5+ unit buildings).
• This rent runs 31% of the median local income ($93k/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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Adams County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.78% ✓
• Cap rate: 15.90%
• Cash-on-cash: 34.31%
• DSCR: 2.53
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $59,696
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
860 W 132nd Ave #195	0.00mi	3/2.0	1,344 (-8%)	11mo	$55,000	$41	78

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 26.4%
• Equity multiple: 2.05×
• Total profit: $39,869
• Equity at exit: $20,129

10-year hold

• IRR: 32.3%
• Equity multiple: 3.54×
• Total profit: $95,951
• Equity at exit: $11,672

Cash invested: $37,800 (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 80234

• Rents YoY: -3.0%
• Active inventory: 142
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,408 high
• Mortgage (P&I): −$708
• Tax from tax record: −$57 /mo · $685/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $1,081

Break-even live

Break-even rent $1,040

Max offer price $135,000

Occupancy floor 50%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1331 W 132nd Pl Denver, CO	3.0	2.0	1351	$2,575	$1.91	11d	1	0.26mi
13140 Raritan Ct Denver, CO	3.0	2.5	1682	$2,765	$1.64	11d	1	0.34mi
13131 Raritan Ct Denver, CO	4.0	3.0	1688	$3,130	$1.85	24d	1	0.35mi
2885 E Midway Blvd Unit PWS FR 1505 Broomfield, CO	3.0	2.0	1024	$2,238	$2.19	24d	1	0.80mi
12621 Zuni St Broomfield, CO	1.0–3.0	1.0–2.0	1053	$2,701	$2.56	2d	15	0.82mi
2885 E Midway Blvd #1505 Denver, CO	3.0	2.0	1024	$2,238	$2.19	16d	1	0.98mi
2885 E Midway Blvd #422 Denver, CO	3.0	2.0	1152	$2,258	$1.96	24d	1	0.98mi
581 W 123rd Ave Westminster, CO	1.0–2.0	1.0–2.0	962	$2,294	$2.38	2d	24	1.07mi
400 W 123rd Ave Denver, CO	1.0–2.0	1.0–2.0	818	$1,969	$2.41	2d	35	1.15mi
2311 Park Centre Dr Westminster, CO	1.0–3.0	1.0–2.0	1095	$2,347	$2.14	2d	28	1.17mi
13900 Lake Song Ln Broomfield, CO	2.0	2.5	1800	$2,400	$1.33	13d	1	1.18mi
13900 Lake Song Ln Unit L3 Broomfield, CO	2.0	1.5	1129	$2,550	$2.26	24d	1	1.18mi
12141 Melody Dr Westminster, CO	2.0	1.0	945	$1,740	$1.84	24d	1	1.21mi
12133 Melody Dr #303 Denver, CO	2.0	1.0	900	$1,475	$1.64	24d	1	1.22mi
12103 N Melody Dr Unit 16-304 Westminster, CO	2.0	1.0	900	$1,400	$1.56	24d	1	1.26mi
12141 Bannock St Westminster, CO	2.0	1.0	1107	$1,900	$1.72	3d	1	1.33mi
12929 Washington St Thornton, CO	3.0	1.0–2.0	1025	$2,833	$2.76	3d	26	1.33mi
12232 Bannock Cir Unit D Denver, CO	3.0	2.0	1460	$2,145	$1.47	24d	1	1.38mi

Listing history 24 events

1. 2026-06-18
   days on market $135,000 Active 243 DOM
2. 2026-06-17
   days on market $135,000 Active 242 DOM
3. 2026-06-16
   days on market $135,000 Active 241 DOM
4. 2026-06-15
   days on market $135,000 Active 240 DOM
5. 2026-06-13
   days on market $135,000 Active 238 DOM
6. 2026-06-13
   days on market $135,000 Active 237 DOM
7. 2026-06-09
   days on market $135,000 Active 234 DOM
8. 2026-06-08
   days on market $135,000 Active 233 DOM
9. 2026-06-07
   days on market $135,000 Active 232 DOM
10. 2026-06-04
    days on market $135,000 Active 229 DOM
11. 2026-06-03
    days on market $135,000 Active 228 DOM
12. 2026-06-02
    days on market $135,000 Active 227 DOM
13. 2026-06-01
    days on market $135,000 Active 226 DOM
14. 2026-05-31
    days on market $135,000 Active 225 DOM
15. 2026-03-05
    status Active
16. 2026-02-28
    historical
17. 2025-10-13
    listed $135,000 Active
18. 2025-10-08
    historical
19. 2025-09-01
    price $135,000
20. 2025-07-31
    listed $139,000 Active
21. 2023-09-21
    historical
22. 2023-09-21
    historical
23. 2023-08-07
    listed $100,000 Active
24. 2023-08-07
    listed $100,000 Active

ⓘ 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: $685 · $57/mo
• Projected year-2 tax: $742 · $62/mo
• Expected delta: +$57/yr (+$5/mo · 8.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,892
• − Mortgage interest: −$7,562
• − Property taxes: −$685
• − Insurance: −$675
• − Repairs & maintenance: −$2,311
• − Management: −$2,311
• − Depreciation: −$3,927
• Taxable income: $11,419
• Est. tax owed @ 24.0%: −$2,741
• After-tax cash flow: $10,228/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: Adams 12 Five Star Schools
• NCES district ID: 0806900
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $67,478
• Composite: 34.87/100
• National rank: #5086
• State rank: #26 of 86 in CO

Livability — Westminster

• Score: 70/100
• State rank: #81
• US rank: #7330

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westminster, CO
• County: Adams County · 464,133 people
• City population: 152,898
• Metro: Denver-Aurora-Lakewood, CO
• Population (ZIP): 29,356
• Household income: $92,563
• Rent vs Own: 40.8% rent · 59.2% own
• Severe rent burden: 1240.0

Population outlook (Adams County) Hauer SSP2

• Today (2025): 598,184 people
• By 2030: 651,880 · +9.0%
• By 2040: 759,778 · +27.0%
• By 2050: 862,889 · +44.3%
• By 2075: 1,085,994 · +81.5%
• By 2100: 1,211,318 · +102.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 61% Hispanic / Latino 26% Two or more races 14% Asian 6% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Romanian 3% Italian 3% Slovak 3%
• Foreign-born: 9% · Canada, Vietnam, South Korea
• Languages at home: 83% English-only · Spanish 10% Vietnamese 2% Other Asian/Pacific 1%

Political lean MEDSL · Adams

• 2024 margin: Lean D (+9.0) · D 53.2% · R 44.1% · Other 2.7%
• 2008→2024 swing: -9.3pp toward R · 2008: 18.4pp · 2024: 9.0pp
• All cycles: 2024: D+9.0 2020: D+16.3 2016: D+7.2 2012: D+15.1 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -220.65%
• Current HPI: 238.0118
• Rent YoY: ▼ -3.05%
• 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

+35.0% since first listed

10 events — show timeline

• 2026-03-05 Relisted — IRES
• 2026-02-28 Listing Removed — IRES
• 2025-10-13 Listed $135,000 IRES
• 2025-10-08 Listing Removed — IRES
• 2025-09-01 Price Changed $135,000 IRES
• 2025-07-31 Listed $139,000 IRES
• 2023-09-21 Listing Removed — REColorado as Distributed by MLS Grid
• 2023-09-21 Listing Removed — IRES
• 2023-08-07 Listed $100,000 REColorado as Distributed by MLS Grid
• 2023-08-07 Listed $100,000 IRES

Property tax history

+13.7%/yr

Latest (2025): $685 · +310.4% YoY. Source: county tax records.