2200 37th St #8 · Evans, CO 80620

$29,000

2 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 36 Days on market

Built 1984 ↓ 12% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice, older manufactured home with two large bedrooms and two full bathrooms. The covered carport has an attached storage area. The primary bedroom has a private bathroom, there is central air conditioning and a small pantry in the kitchen. Kitchen appliances along with the washer and dryer are included. This is a 55+ community, and all Buyers must qualify with the park management (see phone number in Broker remark for application). Lot rent is $925 month, plus a $40 monthly sewer charge, and a monthly pro-rated water bill. Ready immediately.

Key facts

• Functional kitchen
• Move-in ready
• Open floor plan

Tags

• OPEN FLOOR PLAN
• FUNCTIONAL KITCHEN
• COVERED CARPORT
• LEVEL LOT
• MOVE-IN READY
• CENTRAL AIR CONDITIONING

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: No garage; No designated parking features listed
• Utilities: Water meter installed; No water rights
• Home design: Manufactured in park (mobile home)
• Construction: Frame construction; Composition roof

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Window coverings; Gas range; Refrigerator; Washer; Dryer; Forced air heating
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $29k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $29k).
• Recommended offer: $28k (3.0% below list) — sets the bar for market timing.
• Cap rate 53.4% vs local median 3.7% in Evans — 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 69/100 on livability (#104 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+; Watch: crime C-, amenities F, health & safety F.
• Greeleyschool District No. 6 In The County Of Weld And Sta (urban): math 15% / reading 31% proficiency, ranked #71 of 86 in CO (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dos Rios Elementary School (math 2% / reading 17%, grade F, #913 of 966 statewide, top 95%, 480 students, 81% FRL); Prairie Heights Middle School (math 16% / reading 32%, grade F, #178 of 270 statewide, top 67%, 571 students, 78% FRL); Greeley West High School (math 20% / reading 39%, grade F, #244 of 381 statewide, top 66%, 1,885 students, 64% FRL) — zoned schools average 74% FRL vs 54% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.8%/yr); 119 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 3,170 units permitted in Weld County in 2024 (278 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $200 of loan paydown is wiped out by about $870 of value loss. Plan a longer hold.
• Weld County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $6k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $28,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 5.78% ✓
• Cap rate: 53.37%
• Cash-on-cash: 168.13%
• DSCR: 8.48
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $67,584
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2200 37th St #28	0.05mi	3/2.0 (+1)	1,088 (+3%)	2mo	$52,000	$48	86
2200 37th St #18	0.04mi	2/2.0	1,120 (+6%)	10mo	$73,000	$65	80
2200 37th St #85	0.16mi	2/1.0	1,024 (-3%)	13mo	$38,000	$37	72
2200 37th St #5	0.03mi	2/1.0	938 (-11%)	15mo	$60,000	$64	63

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: —
• Equity multiple: 8.74×
• Total profit: $62,866
• Equity at exit: $4,324

10-year hold

• IRR: —
• Equity multiple: 16.90×
• Total profit: $129,140
• Equity at exit: $2,507

Cash invested: $8,120 (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 80620

• Home prices YoY: -20.9%
• Rents YoY: -1.8%
• Active inventory: 119
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,675 high
• Mortgage (P&I): −$152
• Tax from tax record: −$21 /mo · $256/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $1,138

Break-even live

Break-even rent $235

Max offer price $29,000

Occupancy floor 27%

Sensitivity live

Price	-10% $1,154	-5% $1,146	+0% $1,138	+5% $1,129	+10% $1,121
Rent	-10% $1,005	-5% $1,071	+0% $1,138	+5% $1,204	+10% $1,270
Rate	-1.0pp $1,152	-0.5pp $1,145	base $1,138	+0.5pp $1,130	+1.0pp $1,122

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1751 Rowan Ln Evans, CO	2.0	1.5	841	$1,750	$2.08	15d	1	0.35mi
1725 Rowan Ln Evans, CO	3.0	1.5	1190	$2,099	$1.76	15d	1	0.39mi
2846 Arbor Dr #2898 Evans, CO	2.0	1.5–2.0	1327	$1,738	$1.31	15d	3	0.58mi
2506 32nd St Evans, CO	2.0–3.0	2.0	1155	$1,700	$1.47	25d	1	0.67mi
2162 30th St Greeley, CO	1.0–3.0	1.0–1.5	688	$1,199	$1.74	15d	16	0.77mi
1722 30th St Greeley, CO	1.0–2.0	1.0	709	$1,425	$2.01	0d	13	0.85mi
1750 Greeley Mall Greeley, CO	1.0–2.0	1.0–2.0	805	$1,573	$1.95	15d	4	0.93mi
1321 Darrell Rd Evans, CO	2.0	2.5	1440	$1,685	$1.17	25d	1	0.95mi
3202 11th Ave Evans, CO	2.0–3.0	2.0–3.0	1015	$1,565	$1.54	0d	12	1.04mi
2820 17th Ave #201 Greeley, CO	3.0	2.0	1118	$1,750	$1.57	25d	1	1.06mi
1905 28th St Greeley, CO	2.0	1.5	900	$1,330	$1.48	15d	2	1.09mi
1713 28th St Greeley, CO	2.0	1.0	800	$1,295	$1.62	15d	1	1.11mi
4118 Idaho St Evans, CO	3.0	2.0	1200	$2,350	$1.96	22d	1	1.16mi
3023 Denver St Unit 6 Evans, CO	2.0	1.0	789	$1,095	$1.39	15d	1	1.25mi
2507 W 27th St Apt C Greeley, CO	2.0	1.5	1064	$1,225	$1.15	25d	1	1.28mi
2310 W 25th Street Rd Greeley, CO	3.0	1.0	1000	$1,700	$1.70	15d	1	1.35mi
3301 Abbey Rd Evans, CO	1.0–3.0	1.0–2.0	913	$1,742	$1.91	15d	10	1.39mi
3770 Ponderosa Ct #1 Evans, CO	2.0	2.0	1047	$1,650	$1.58	25d	1	1.41mi
3530 Pueblo St Unit A Evans, CO	3.0	2.0	1250	$1,600	$1.28	25d	1	1.49mi

Listing history 23 events

1. 2026-06-22
   days on market $29,000 Active 36 DOM
2. 2026-06-18
   days on market $29,000 Active 33 DOM
3. 2026-06-17
   days on market $29,000 Active 32 DOM
4. 2026-06-16
   days on market $29,000 Active 31 DOM
5. 2026-06-15
   price $29,000 Active 30 DOM
6. 2026-06-15
   days on market $32,000 Active 30 DOM
7. 2026-06-14
   days on market $32,000 Active 28 DOM
8. 2026-06-10
   days on market $32,000 Active 25 DOM
9. 2026-06-09
   days on market $32,000 Active 24 DOM
10. 2026-06-08
    days on market $32,000 Active 23 DOM
11. 2026-06-07
    days on market $32,000 Active 22 DOM
12. 2026-06-03
    days on market $32,000 Active 18 DOM
13. 2026-06-02
    days on market $32,000 Active 17 DOM
14. 2026-06-01
    days on market $32,000 Active 16 DOM
15. 2026-05-31
    days on market $32,000 Active 15 DOM
16. 2026-05-30
    days on market $32,000 Active 14 DOM
17. 2026-05-16
    listed $35,000 Active
18. 2026-05-05
    historical
19. 2026-03-17
    price $35,000
20. 2026-01-29
    price $39,000
21. 2025-10-24
    listed $42,000 Active
22. 2023-06-21
    soldstatus $37,900 Sold 554-char remark

    Show marketing remark (554 chars)

    Very nice, older manufactured home with two large bedrooms and two full bathrooms. The covered carport has an attached storage area. The primary bedroom has a private bathroom, there is central air conditioning and a small pantry in the kitchen. Kitchen appliances along with the washer and dryer are included. This is a 55+ community, and all Buyers must qualify with the park management (see phone number in Broker remark for application). Lot rent is $925 month, plus a $40 monthly sewer charge, and a monthly pro-rated water bill. Ready immediately.

23. 2023-06-05
    listed $39,900 Active 554-char remark

    Show marketing remark (554 chars)

    Very nice, older manufactured home with two large bedrooms and two full bathrooms. The covered carport has an attached storage area. The primary bedroom has a private bathroom, there is central air conditioning and a small pantry in the kitchen. Kitchen appliances along with the washer and dryer are included. This is a 55+ community, and all Buyers must qualify with the park management (see phone number in Broker remark for application). Lot rent is $925 month, plus a $40 monthly sewer charge, and a monthly pro-rated water bill. Ready immediately.

ⓘ 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: $256 · $21/mo
• Projected year-2 tax: $256 · $21/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,099
• − Mortgage interest: −$1,624
• − Property taxes: −$256
• − Insurance: −$145
• − Repairs & maintenance: −$1,608
• − Management: −$1,608
• − Depreciation: −$844
• Taxable income: $14,014
• Est. tax owed @ 24.0%: −$3,363
• After-tax cash flow: $10,289/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: Greeleyschool District No. 6 In The County Of Weld And Sta
• NCES district ID: 0804410
• Math proficiency: 15% ▼ -7.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $46,417
• Composite: 19.99/100
• National rank: #8667
• State rank: #71 of 86 in CO

Livability — Evans

• Score: 69/100
• State rank: #104
• US rank: #9005

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evans, CO
• County: Weld County · 332,652 people
• City population: 20,798
• Metro: Greeley, CO
• Population (ZIP): 20,798
• Household income: $73,590
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 420.0

Population outlook (Weld County) Hauer SSP2

• Today (2025): 351,957 people
• By 2030: 385,304 · +9.5%
• By 2040: 451,818 · +28.4%
• By 2050: 514,478 · +46.2%
• By 2075: 648,733 · +84.3%
• By 2100: 720,400 · +104.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 48% White 45% Two or more races 17% Black 2% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Serbian 2% Romanian 1% Lithuanian 1%
• Foreign-born: 16% · Canada, South Korea, China
• Languages at home: 67% English-only · Spanish 31% Other Asian/Pacific 1%

Political lean MEDSL · Weld

• 2024 margin: Strong R (+21.0) · D 38.2% · R 59.2% · Other 2.6%
• 2008→2024 swing: -12.2pp toward R · 2008: -8.7pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+18.0 2016: R+22.4 2012: R+13.2 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.36%
• Current HPI: 330.6379
• Rent YoY: ▼ -1.78%
• Metro: Greeley, 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

-12.3% since first listed

7 events — show timeline

• 2026-05-16 Listed $35,000 IRES
• 2026-05-05 Listing Removed — IRES
• 2026-03-17 Price Changed $35,000 IRES
• 2026-01-29 Price Changed $39,000 IRES
• 2025-10-24 Listed $42,000 IRES
• 2023-06-21 Sold (MLS) $37,900 IRES
• 2023-06-05 Listed $39,900 IRES

Property tax history

+5.6%/yr

Latest (2025): $256 · +159.7% YoY. Source: county tax records.