1601 N College Ave #296 · Fort Collins, CO 80524

$92,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 68 Days on market

Built 1978 Est $87k · 5% over ↓ 32% since listing

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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 +5.1/15.0
• 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

Step into effortless, low-maintenance living where comfort, convenience, and connection come together. This lovingly cared-for 3-bedroom, 2-bath home offers a thoughtful layout with a private primary suite featuring its own en-suite bath, creating the perfect everyday retreat. At the heart of the home, the kitchen shines with an island, walk-in pantry, and formal dining space, ideal for hosting, gathering, or simply enjoying a cozy meal at home. You'll love the rare attached 2-car tandem garage with an enclosed workshop, plus a custom-built shed for hobbies, tools, or extra storage. Outside, unwind on the covered front porch or enjoy the beautifully landscaped yard with an above-ground spri

Key facts

• Custom-built shed
• En-suite bath
• Enclosed workshop

Tags

• PRIVATE PRIMARY SUITE
• EN-SUITE BATH
• WALK-IN PANTRY
• ATTACHED 2-CAR TANDEM GARAGE
• ENCLOSED WORKSHOP
• CUSTOM-BUILT SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $92k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $86k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.1% 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.
• Market conditions: Rents rising fast (+4.1%/yr); 422 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).
• This rent runs 34% of the median local income ($85k/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 $636 of loan paydown is wiped out by about $3k 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 $26k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $86,480 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% 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. 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.
7. 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.
8. 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: 2.63% ✓
• Cap rate: 24.06%
• Cash-on-cash: 63.45%
• DSCR: 3.82
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $87,360
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1601 N College Ave #296	0.00mi	3/2.0	1,344 (0%)	1mo	$83,000	$62	99
1601 N College Ave #268	0.00mi	3/2.0	1,288 (-4%)	5mo	$112,000	$87	89
1601 N College Ave #314	0.00mi	3/2.0	1,368 (+2%)	11mo	$49,950	$37	88
400 Hickory St #172	0.32mi	3/2.0	1,280 (-5%)	3mo	$83,000	$65	75
1601 N College Ave #342	0.00mi	3/2.0	1,536 (+14%)	5mo	$80,000	$52	72
1601 N College Ave #202	0.00mi	2/2.0 (-1)	1,216 (-10%)	23mo	$99,000	$81	60

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: 63.7%
• Equity multiple: 3.90×
• Total profit: $74,609
• Equity at exit: $13,717

10-year hold

• IRR: 68.5%
• Equity multiple: 8.31×
• Total profit: $188,301
• Equity at exit: $7,954

Cash invested: $25,760 (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: 3.2×

Monthly cashflow live

• Estimated rent: $2,422 high
• Mortgage (P&I): −$482
• Tax from tax record: −$31 /mo · $368/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $1,362

Break-even live

Break-even rent $698

Max offer price $92,000

Occupancy floor 39%

Sensitivity live

Price	-10% $1,414	-5% $1,388	+0% $1,362	+5% $1,336	+10% $1,310
Rent	-10% $1,171	-5% $1,266	+0% $1,362	+5% $1,458	+10% $1,553
Rate	-1.0pp $1,408	-0.5pp $1,385	base $1,362	+0.5pp $1,338	+1.0pp $1,314

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 13 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	24d	1	0.03mi
328 Butch Cassidy Dr Fort Collins, CO	3.0	1.5	1296	$2,285	$1.76	15d	1	0.44mi
432 Sundance Cir N Fort Collins, CO	3.0	2.0	1298	$2,250	$1.73	15d	1	0.55mi
1331 Redwood St Fort Collins, CO	2.0	1.5–2.0	1154	$1,598	$1.38	15d	2	0.59mi
240 Osiander St Fort Collins, CO	2.0	2.0	1271	$2,878	$2.26	15d	7	0.64mi
749 Peregrine Run Fort Collins, CO	3.0	2.5	1750	$2,695	$1.54	24d	1	0.83mi
802 Heschel St Unit C Fort Collins, CO	2.0	2.5	1254	$2,700	$2.15	24d	1	0.87mi
938 Schlagel St #6 Fort Collins, CO	3.0	2.0	1581	$2,395	$1.51	24d	1	1.05mi
831 Mangold Ln Fort Collins, CO	2.0	2.5	1437	$2,695	$1.88	24d	1	1.08mi
310 N Mason St Fort Collins, CO	2.0	1.0–2.0	690	$2,339	$3.39	15d	8	1.17mi
302 N Meldrum St #204 Fort Collins, CO	2.0	2.5	1205	$2,800	$2.32	15d	1	1.17mi
281 Willow St Fort Collins, CO	2.0	1.0–2.0	694	$2,766	$3.99	15d	20	1.23mi
612 9th St Fort Collins, CO	2.0	1.0	896	$1,800	$2.01	24d	1	1.44mi

Listing history 10 events

1. 2026-04-28
   status Pending
2. 2026-02-19
   listed $92,000 Active
3. 2025-11-15
   historical
4. 2025-08-06
   listed $119,000 Active
5. 2025-07-31
   historical
6. 2025-03-19
   listed $126,000 Active
7. 2024-10-11
   historical
8. 2024-09-04
   price $126,000
9. 2024-08-10
   price $132,000
10. 2024-07-11
    listed $135,000 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: $368 · $31/mo
• Projected year-2 tax: $506 · $42/mo
• Expected delta: +$138/yr (+$11/mo · 37.5%)

ⓘ 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: $29,066
• − Mortgage interest: −$5,153
• − Property taxes: −$368
• − Insurance: −$460
• − Repairs & maintenance: −$2,325
• − Management: −$2,325
• − Depreciation: −$2,676
• Taxable income: $15,757
• Est. tax owed @ 24.0%: −$3,782
• After-tax cash flow: $12,562/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

-31.9% since first listed

10 events — show timeline

• 2026-04-28 Pending — IRES
• 2026-02-19 Listed $92,000 IRES
• 2025-11-15 Listing Removed — IRES
• 2025-08-06 Listed $119,000 IRES
• 2025-07-31 Listing Removed — IRES
• 2025-03-19 Listed $126,000 IRES
• 2024-10-11 Listing Removed — IRES
• 2024-09-04 Price Changed $126,000 IRES
• 2024-08-10 Price Changed $132,000 IRES
• 2024-07-11 Listed $135,000 IRES

Property tax history

+9.5%/yr

Latest (2025): $368 · +283.6% YoY. Source: county tax records.