485 Florida Rd Unit B8 · Durango, CO 81301

$137,900

2 bd · 2.0 ba · 1,071 sqft · Manufactured public records · 75 Days on market

Built 1983

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming Riverfront Mobile Home in Desirable, OWNER OCCUPIED Island Cove Park – A Hidden Gem in Durango!Welcome to your new home in the idyllic Island Cove Park, where tranquility, community, and natural beauty come together steps away from downtown. Location!! This 1982 2-bedroom, 2-bath mobile home offers the perfect combination of comfort and opportunity, nestled on the river with breathtaking views and a 1 acre private island for residents expanding their backyard opportunities for swimming, walking, and enjoying the river. Walk right into a bright, spacious living area with a ‘pop out’ that enhances the room width for relaxing and entertaining. -Open-concept kitchen a

Key facts

• Private island
• Open-concept kitchen
• Two covered porches

Tags

• RIVERFRONT MOBILE HOME
• PRIVATE ISLAND
• BRIGHT SPACIOUS LIVING AREA
• OPEN-CONCEPT KITCHEN
• TWO COVERED PORCHES
• SMALL GRASSY BACKYARD

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Home design: Single-family residential
• Exterior features: River-front property; Waterfront

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $138k.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $130k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 1.1% in Durango — 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 68/100 on livability (#106 in CO) — a middle-class / working-renter tenant base. Strengths: amenities A-, schools B+, employment B+; Watch: commute F, cost of living F.
• Durango School District No. 9-R (town): math 27% / reading 49% proficiency, ranked #30 of 86 in CO (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 580 active listings in the ZIP; solid renter incomes; 306 units permitted in La Plata County in 2024 (93 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $953 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• La Plata County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $129,625 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.43% ✓
• Cap rate: 11.52%
• Cash-on-cash: 18.68%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.94% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.41×
• Total profit: $15,844
• Equity at exit: $20,561

10-year hold

• IRR: 19.4%
• Equity multiple: 2.62×
• Total profit: $62,720
• Equity at exit: $11,923

Cash invested: $38,612 (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 81301

• Rents YoY: 2.9%
• Active inventory: 580
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,967 medium
• Mortgage (P&I): −$723
• Tax est. 1.5%: −$172 /mo · $2,068/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $601

Break-even live

Break-even rent $1,206

Max offer price $137,900

Occupancy floor 64%

Sensitivity live

Price	-10% $696	-5% $649	+0% $601	+5% $553	+10% $506
Rent	-10% $446	-5% $523	+0% $601	+5% $679	+10% $756
Rate	-1.0pp $670	-0.5pp $636	base $601	+0.5pp $565	+1.0pp $529

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: $34,475
• Closing costs: $4,137
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $137,900 Active 75 DOM
2. 2026-06-18
   days on market $137,900 Active 74 DOM
3. 2026-06-17
   days on market $137,900 Active 73 DOM
4. 2026-06-16
   days on market $137,900 Active 72 DOM
5. 2026-06-15
   days on market $137,900 Active 71 DOM
6. 2026-06-14
   days on market $137,900 Active 69 DOM
7. 2026-06-12
   days on market $137,900 Active 68 DOM
8. 2026-06-03
   days on market $137,900 Active 64 DOM
9. 2026-06-02
   days on market $137,900 Active 63 DOM
10. 2026-06-01
    days on market $137,900 Active 62 DOM
11. 2026-05-31
    days on market $137,900 Active 61 DOM
12. 2026-05-30
    days on market $137,900 Active 60 DOM
13. 2026-03-31
    listed $137,900 Active
14. 2025-11-01
    historical
15. 2025-09-24
    listed $137,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 8 d/yr ≥87°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,605
• − Mortgage interest: −$7,725
• − Property taxes: −$2,068
• − Insurance: −$690
• − Repairs & maintenance: −$1,888
• − Management: −$1,888
• − Depreciation: −$4,012
• Taxable income: $5,334
• Est. tax owed @ 24.0%: −$1,280
• After-tax cash flow: $5,932/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: Durango School District No. 9-R
• NCES district ID: 0803480
• Math proficiency: 27% ▼ -4.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $58,711
• Composite: 33.58/100
• National rank: #5420
• State rank: #30 of 86 in CO

Livability — Durango

• Score: 68/100
• State rank: #106
• US rank: #9262

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Durango, CO
• County: La Plata County · 40,010 people
• City population: 29,774
• Metro: Durango, CO
• Population (ZIP): 29,774
• Household income: $83,943
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1194.0

Population outlook (La Plata County) Hauer SSP2

• Today (2025): 62,781 people
• By 2030: 66,492 · +5.9%
• By 2040: 72,944 · +16.2%
• By 2050: 78,543 · +25.1%
• By 2075: 89,403 · +42.4%
• By 2100: 94,984 · +51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 8% Two or more races 7% Native American 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 4% Italian 3% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · La Plata

• 2024 margin: D (+18.6) · D 58.0% · R 39.3% · Other 2.8%
• 2008→2024 swing: +2.4pp toward D · 2008: 16.3pp · 2024: 18.6pp
• All cycles: 2024: D+18.6 2020: D+17.7 2016: D+9.2 2012: D+8.8 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -651.69%
• Current HPI: 223.832
• Rent YoY: ▲ 2.94%
• Metro: Durango, 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

+0.0% since first listed

3 events — show timeline

• 2026-03-31 Listed $137,900 cren
• 2025-11-01 Listing Removed — cren
• 2025-09-24 Listed $137,900 cren

Property tax history

+7.6%/yr

Latest (2021): $55 · +21.6% YoY. Source: county tax records.