1601 N College Ave #218 · Fort Collins, CO 80524

$20,000

3 bd · 2.0 ba · 1,008 sqft · Manufactured public records · 154 Days on market

Built 1978

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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
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous manufactured home in a 55+ year old gated community. Huge Master bedroom and bathroom, all appliances included including the washer and dryer stay. Furnace and water heater two years old and evaporation cooler (with newer motor). This home is well maintained. Snow removal included street only. Buyer to verify measurements. New owners (and their pets) require park approval prior to closing. Lovely park setting in Fort Collins.

Key facts

• Breakfast nook
• Bow window views
• Separate dining area

Tags

• LIGHT FILLED LIVING AREA
• GENEROUS KITCHEN SPACE
• BREAKFAST NOOK
• BOW WINDOW VIEWS
• SEPARATE DINING AREA
• DEDICATED STORAGE SHED

Property features AI

Finance

• Other: Minimal flood or C rating; Model: Montrose; Windows noted for energy efficiency

Exterior

• Parking: No garage; No designated parking features listed
• Utilities: City water (meter installed); Public sewer; Natural gas available (Xcel Energy); Electricity available
• Home design: Manufactured in park (mobile home); Ramp access; Near bus service
• Construction: Metal siding; Composition roof
• Exterior features: Deck; Land lease; Storage structure; Partial wood fencing; Level lot within city limits; Asphalt road access; Security gate

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Evaporative cooling
• Interior features: Eat-in kitchen; Open floorplan; Window coverings; Living room fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 91.4% vs local median 2.6% in Fort Collins — 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 80/100 on livability (#11 in CO, #1,750 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• Poudre School District R-1 (urban): math 45% / reading 60% proficiency, ranked #10 of 86 in CO (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Putnam Elementary School (math 5% / reading 17%, grade F, #879 of 966 statewide, top 94%, 306 students, 88% FRL); Poudre High School (math 36% / reading 59%, grade D, #131 of 381 statewide, top 34%, 1,663 students, 38% FRL) — zoned schools average 63% FRL vs 24% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 52% district-wide (-23 pts) — the specific schools serving this property underperform the Poudre School District R-1 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.1%/yr); 422 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $10k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $17,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 9.80% ✓
• Cap rate: 91.41%
• Cash-on-cash: 303.98%
• DSCR: 14.53
• GRM: 0.9

CMA / ARV

• ARV (on-the-fly): $54,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1601 N College Ave #299	0.00mi	2/1.0 (-1)	1,024 (+2%)	2mo	$32,000	$31	86
1601 N College Ave #11	0.00mi	3/2.0	960 (-5%)	9mo	$11,000	$11	85
1601 N College Ave #330	0.00mi	2/2.0 (-1)	938 (-7%)	11mo	$19,500	$21	75
1601 N College Ave #352	0.00mi	2/2.0 (-1)	952 (-6%)	17mo	$35,000	$37	72
1601 N College Ave #274	0.00mi	2/1.5 (-1)	938 (-7%)	12mo	$67,000	$71	71
1601 N College Ave #224	0.00mi	2/1.5 (-1)	980 (-3%)	22mo	$40,000	$41	70
1601 N College Ave #217	0.00mi	3/1.5	1,130 (+12%)	12mo	$26,000	$23	68
1601 N College Ave #144	0.00mi	2/2.0 (-1)	896 (-11%)	13mo	$48,000	$54	66
1601 N College Ave #270	0.00mi	2/1.0 (-1)	938 (-7%)	21mo	$67,500	$72	62
2025 N College Ave Lot 258	0.47mi	3/2.0	1,064 (+6%)	13mo	$90,000	$85	58
2025 N College Ave #243	0.47mi	3/2.0	924 (-8%)	11mo	$55,000	$60	55
2025 N College Ave	0.60mi	3/2.0	1,064 (+6%)	10mo	$69,900	$66	54

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 · 4.13% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 16.96×
• Total profit: $89,385
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 37.38×
• Total profit: $203,731
• Equity at exit: $1,729

Cash invested: $5,600 (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 80524

• Rents YoY: 4.1%
• Active inventory: 422
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,959 high
• Mortgage (P&I): −$105
• Tax from tax record: −$16 /mo · $192/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $1,419

Break-even live

Break-even rent $164

Max offer price $20,000

Occupancy floor 23%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 N College Ave Unit 273A Fort Collins, CO	3.0	2.0	1352	$1,150	$0.85	23d	1	0.03mi
1601 N College Ave #60 Fort Collins, CO	2.0	1.0	784	$1,150	$1.47	23d	1	0.03mi
328 Butch Cassidy Dr Fort Collins, CO	3.0	1.5	1296	$2,285	$1.76	13d	1	0.44mi
432 Sundance Cir N Fort Collins, CO	3.0	2.0	1298	$2,250	$1.73	13d	1	0.55mi
1331 Redwood St Fort Collins, CO	2.0	1.5–2.0	1154	$1,598	$1.38	13d	2	0.59mi
240 Osiander St Fort Collins, CO	2.0	2.0	1271	$2,878	$2.26	13d	7	0.64mi
802 Heschel St Unit C Fort Collins, CO	2.0	2.5	1254	$2,700	$2.15	23d	1	0.87mi
831 Mangold Ln Fort Collins, CO	2.0	2.5	1437	$2,695	$1.88	23d	1	1.08mi
311 N Mason St Fort Collins, CO	2.0	1.0–2.0	645	$2,115	$3.28	13d	7	1.15mi
310 N Mason St Fort Collins, CO	2.0	1.0–2.0	690	$2,339	$3.39	13d	8	1.17mi
302 N Meldrum St #204 Fort Collins, CO	2.0	2.5	1205	$2,800	$2.32	13d	1	1.17mi
281 Willow St Fort Collins, CO	2.0	1.0–2.0	694	$2,766	$3.99	13d	20	1.23mi
2636 Terry Lake Rd Fort Collins, CO	2.0	1.0	856	$1,825	$2.13	13d	1	1.24mi
527 West St Unit 2 Fort Collins, CO	2.0	1.0	850	$1,395	$1.64	13d	1	1.25mi
308 West St Fort Collins, CO	2.0	1.0	719	$1,500	$2.09	23d	1	1.41mi
612 9th St Fort Collins, CO	2.0	1.0	896	$1,800	$2.01	23d	1	1.44mi

Listing history 19 events

1. 2026-06-18
   days on market $20,000 Active 154 DOM
2. 2026-06-17
   days on market $20,000 Active 153 DOM
3. 2026-06-16
   days on market $20,000 Active 152 DOM
4. 2026-06-15
   days on market $20,000 Active 151 DOM
5. 2026-06-14
   days on market $20,000 Active 149 DOM
6. 2026-06-10
   days on market $20,000 Active 146 DOM
7. 2026-06-09
   days on market $20,000 Active 145 DOM
8. 2026-06-09
   price $20,000 Active 144 DOM
9. 2026-06-08
   days on market $30,000 Active 144 DOM
10. 2026-06-07
    days on market $30,000 Active 143 DOM
11. 2026-06-03
    days on market $30,000 Active 139 DOM
12. 2026-06-02
    days on market $30,000 Active 138 DOM
13. 2026-06-01
    days on market $30,000 Active 137 DOM
14. 2026-05-31
    days on market $30,000 Active 136 DOM
15. 2026-05-30
    days on market $30,000 Active 135 DOM
16. 2026-01-15
    listed $30,000 Active
17. 2021-06-21
    soldstatus $20,000 Sold 439-char remark

    Show marketing remark (439 chars)

    Fabulous manufactured home in a 55+ year old gated community. Huge Master bedroom and bathroom, all appliances included including the washer and dryer stay. Furnace and water heater two years old and evaporation cooler (with newer motor). This home is well maintained. Snow removal included street only. Buyer to verify measurements. New owners (and their pets) require park approval prior to closing. Lovely park setting in Fort Collins.

18. 2021-05-27
    status Pending 439-char remark

    Show marketing remark (439 chars)

    Fabulous manufactured home in a 55+ year old gated community. Huge Master bedroom and bathroom, all appliances included including the washer and dryer stay. Furnace and water heater two years old and evaporation cooler (with newer motor). This home is well maintained. Snow removal included street only. Buyer to verify measurements. New owners (and their pets) require park approval prior to closing. Lovely park setting in Fort Collins.

19. 2021-05-03
    listed $21,000 Active 439-char remark

    Show marketing remark (439 chars)

    Fabulous manufactured home in a 55+ year old gated community. Huge Master bedroom and bathroom, all appliances included including the washer and dryer stay. Furnace and water heater two years old and evaporation cooler (with newer motor). This home is well maintained. Snow removal included street only. Buyer to verify measurements. New owners (and their pets) require park approval prior to closing. Lovely park setting in Fort Collins.

ⓘ 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: $192 · $16/mo
• Projected year-2 tax: $192 · $16/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,511
• − Mortgage interest: −$1,120
• − Property taxes: −$192
• − Insurance: −$100
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − Depreciation: −$582
• Taxable income: $17,755
• Est. tax owed @ 24.0%: −$4,261
• After-tax cash flow: $12,762/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: Poudre School District R-1
• NCES district ID: 0803990
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 60% ▼ -2.00%
• Median HH income: $57,281
• Composite: 45.5/100
• National rank: #2610
• State rank: #10 of 86 in CO

Livability — Fort Collins

• Score: 80/100
• State rank: #11
• US rank: #1750

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Collins, CO
• County: Larimer County · 338,255 people
• City population: 202,303
• Metro: Fort Collins, CO
• Population (ZIP): 40,030
• Household income: $85,035
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1860.0

Population outlook (Larimer County) Hauer SSP2

• Today (2025): 415,361 people
• By 2030: 457,762 · +10.2%
• By 2040: 542,310 · +30.6%
• By 2050: 627,048 · +51.0%
• By 2075: 833,722 · +100.7%
• By 2100: 952,590 · +129.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 17% Two or more races 11% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Slovak 3% Portuguese 3% Italian 3%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% German/W. Germanic 1%

Political lean MEDSL · Larimer

• 2024 margin: D (+17.6) · D 57.4% · R 39.8% · Other 2.9%
• 2008→2024 swing: +7.9pp toward D · 2008: 9.7pp · 2024: 17.6pp
• All cycles: 2024: D+17.6 2020: D+15.4 2016: D+4.9 2012: D+5.2 2008: D+9.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -581.67%
• Current HPI: 274.4026
• Rent YoY: ▲ 4.13%
• Metro: Fort Collins, 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

+42.9% since first listed

4 events — show timeline

• 2026-01-15 Listed $30,000 IRES
• 2021-06-21 Sold (MLS) $20,000 IRES
• 2021-05-27 Pending — IRES
• 2021-05-03 Listed $21,000 IRES

Property tax history

+11.7%/yr

Latest (2025): $192 · +190.2% YoY. Source: county tax records.