151 Columbine Dr · Red Feather Lakes, CO 80545

$295,000

2 bd · 1.0 ba · 824 sqft · SingleFamily public records · 36 Days on market

Built 1992 1.21 ac lot Est $297k · at est.

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Why this score? — see what drove the C- 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 +17.5/30.0
• ARV discount +7.9/15.0
• DSCR +5.5/10.0
• Appreciation +4.7/10.0
• Schools +4.5/10.0
• 1% rule +4.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Off-grid cabin living with space to grow! This cozy 1-bedroom cabin offers the perfect mountain retreat, blending peaceful surroundings with the comforts needed for full-time living or a weekend away from the hustle and bustle. Situated on more than 1 acre and made up of four adjacent parcels, this property opens the door for expansion, additional outbuildings, or simply more space to enjoy the outdoors. The home's open layout connects the living, kitchen, and dining areas, with expansive windows filling every corner with warm, natural light. Designed for self-sufficient living, the property is already equipped with a solar setup and access to a well. A 349 sq ft shed with a new roof provid

Key facts

• More than 1 acre
• 349 sq ft shed
• Access to a well

Tags

• MORE THAN 1 ACRE
• FOUR ADJACENT PARCELS
• SOLAR SETUP
• ACCESS TO A WELL
• 349 SQ FT SHED
• ACCESS TO FOUR NEARBY LAKES

Property features AI

Finance

• Other: Photovoltaic (solar) system owned
• HOA & community: No association fees or transfer fees

Exterior

• Parking: No garage; No designated parking features
• Utilities: Well water (no water rights, no meter installed); Septic tank; Propane for utilities and gas
• Home design: One-story cabin; Residential property; Main level entry; Not new construction
• Construction: Frame construction with wood siding; Composition roof
• Exterior features: Deck; Evergreen trees; Sloping lot; Rock outcropping; Abuts private open space; Unincorporated area; Dirt road frontage (county maintained); Minimal flood risk / C rating

Interior

• Kitchen: Gas range
• Bedrooms: 1 bedroom (main level)
• Bathrooms: One three-quarter bathroom (main level)
• Heating & cooling: Radiant heating
• Interior features: Separate dining room; Open floor plan

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (10.0% below list).
• Recommended offer: $265k (10.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.1% in Red Feather Lakes — 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 55/100 on livability (#344 in CO) — a working-class tenant base; expect higher turnover. Strengths: employment B+, housing B+; Watch: cost of living C-, crime D-, amenities 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: Poudre High School (math 36% / reading 59%, grade D, #131 of 381 statewide, top 34%, 1,663 students, 38% FRL).
• Market conditions: 154 active listings in the ZIP; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).

Forward outlook

• In year one you build about $397 of equity ($2k loan paydown + $-2k appreciation (-0.6% local appreciation)).
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y 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.
• Current owner paid $126k; list at $295k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $265,418 (10.0% 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 10% 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 0.90% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.33%
• DSCR: 1.15
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $297,464
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
352 Hiawatha Hwy	0.40mi	2/1.0	788 (-4%)	24mo	$265,000	$336	54
860 County Road 67j	0.70mi	2/1.0	720 (-13%)	6mo	$260,000	$361	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-1,716
• Equity at exit: $77,537

10-year hold

• IRR: 5.7%
• Equity multiple: 1.57×
• Total profit: $47,347
• Equity at exit: $86,946

Cash invested: $82,600 (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 80545

• Home prices YoY: -0.2%
• Active inventory: 154
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,654 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$197 /mo · $2,369/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $229

Break-even live

Break-even rent $2,364

Max offer price $295,000

Occupancy floor 86%

Sensitivity live

Price	-10% $396	-5% $313	+0% $229	+5% $146	+10% $62
Rent	-10% $20	-5% $125	+0% $229	+5% $334	+10% $439
Rate	-1.0pp $378	-0.5pp $304	base $229	+0.5pp $153	+1.0pp $75

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $295,000 Active 36 DOM
2. 2026-06-17
   days on market $295,000 Active 35 DOM
3. 2026-06-16
   days on market $295,000 Active 34 DOM
4. 2026-06-15
   days on market $295,000 Active 33 DOM
5. 2026-06-14
   days on market $295,000 Active 31 DOM
6. 2026-06-10
   days on market $295,000 Active 28 DOM
7. 2026-06-09
   days on market $295,000 Active 27 DOM
8. 2026-06-08
   days on market $295,000 Active 26 DOM
9. 2026-06-07
   days on market $295,000 Active 25 DOM
10. 2026-06-03
    days on market $295,000 Active 21 DOM
11. 2026-06-02
    days on market $295,000 Active 20 DOM
12. 2026-06-01
    days on market $295,000 Active 19 DOM
13. 2026-05-31
    days on market $295,000 Active 18 DOM
14. 2026-05-30
    pricedays on market $295,000 Active 17 DOM
15. 2026-05-13
    listed $300,000 Active
16. 2003-09-25
    soldstatus $126,500
17. 2003-09-23
    soldstatus $126,500
18. 2002-11-12
    listed $122,500

ⓘ 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: $2,369 · $197/mo
• Projected year-2 tax: $2,369 · $197/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 7/10 Severe
• 🌡 Heat 1/10 Low 3 d/yr ≥81°F today · 7 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 26 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,850
• − Mortgage interest: −$16,525
• − Property taxes: −$2,369
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,548
• − Management: −$2,548
• − Depreciation: −$8,582
• Taxable loss: −$2,197
• Est. tax savings @ 24.0%: +$527
• After-tax cash flow: $3,280/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 — Red Feather Lakes

• Score: 55/100
• State rank: #344
• US rank: #23247

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Feather Lakes, CO
• Population (ZIP): 913

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 (97%)
• Race & ethnicity: White 97% Hispanic / Latino 3%
• Common ancestry: Portuguese 3% Italian 2% Slovak 1%
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -0.56%
• Current HPI: 280.4591
• Rent YoY: —
• Metro: —
• 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

+144.9% since first listed

4 events — show timeline

• 2026-05-13 Listed $300,000 IRES
• 2003-09-25 Sold (Public Records) $126,500 Public Records
• 2003-09-23 Sold (MLS) $126,500 IRES
• 2002-11-12 Listed $122,500 IRES

Property tax history

+4.5%/yr

Latest (2025): $2,369 · +13.9% YoY. Source: county tax records.