420 E 57th St #49

Loveland, CO 80538

$75,000B

3 bd · 2.0 ba · 1,216 sqft · Built 1994 · Manufactured · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,977/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$415
• Net cashflow: $1,120/mo
• Annual: $13,440/yr
• Cap rate: 24.21%
• Cash-on-cash: 64.00%
• DSCR: 3.85
• 1% rule: 2.64%
• Cash to close: $21,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $75k.
• 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 $75k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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: Loveland High School (math 35% / reading 71%, grade C-, #88 of 381 statewide, top 23%, 1,525 students, 28% FRL) — zoned schools at 28% FRL track the district average.
• Zoned-school proficiency averages 53% at this address vs 38% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Thompson School District R-2J average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.1%/yr); 436 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.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $21k cash investment doubles in ~2 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 24.2% 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

• 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.