2612 Thornbird Pl · Boulder, CO 80304

$278,070

2 bd · 1.5 ba · 864 sqft · SingleFamily public records · 36 Days on market

Built 1998 1,306 sqft lot Est $348k · 20% under $125/mo HOA · 5% of rent

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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 +16.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Schools +5.1/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

IMPORTANT - This home is part of the Boulder Regional Affordable Homeownership Program. For more information, please visit www. BoulderColorado. gov. Tucked into the award-winning Iris Hollow community in Boulder, 2612 Thornbird Place offers an exceptional blend of comfort, convenience, and the vibrant Boulder lifestyle. Built by Coburn Homes, this thoughtfully designed 2-bedroom, 1-bath residence delivers quality craftsmanship and an efficient, inviting layout. Step inside to find a light-filled interior with an open-concept living and dining space that flows seamlessly into the kitchen, perfect for everyday living and entertaining. Wood floors run throughout the home, enhancing its warmth

Key facts

• Wood floors
• Nearby parks
• Scenic bike paths

Tags

• LIGHT-FILLED INTERIOR
• WOOD FLOORS
• SCENIC BIKE PATHS
• NEARBY PARKS
• PRIME NORTH BOULDER SETTING
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Other: Zoned: AFFORDABLE
• HOA & community: Iris Hollow Master HOA; Monthly association fee of $125; Association transfer fee required; Association has reserves; Community park

Exterior

• Parking: Off-street parking; 1 garage space
• Utilities: City water (meter installed); Natural gas available (Xcel); Electricity available; Trash service by Western Disposal
• Home design: Single family residence; Two levels; Residential property; Not new (previously owned)
• Construction: Frame construction; Composition siding; Composition roof
• Exterior features: Deck; Partial fencing; 500-year floodplain or B/X rating

Interior

• Kitchen: Electric range; Refrigerator; Disposal
• Bedrooms: 2 bedrooms (all bedrooms conform)
• Flooring: Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Open floorplan; Window coverings; Fire alarm
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $278k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/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 $254k (8.5% below list).
• Recommended offer: $254k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 1.7% in Boulder — 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 77/100 on livability (#24 in CO, #2,958 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D+, cost of living F.
• Boulder Valley School District No. Re2 (urban): math 49% / reading 67% proficiency, ranked #6 of 86 in CO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Columbine Elementary School (math 15% / reading 32%, grade F, #634 of 966 statewide, top 67%, 405 students, 64% FRL); Boulder High School (math 64% / reading 81%, grade B+, #18 of 381 statewide, top 4%, 2,074 students, 28% FRL) — zoned schools average 46% FRL vs 16% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 256 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,688 units permitted in Boulder County in 2024 (1,136 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Boulder County population projected at +40% 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 ($270k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y 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 $166k; list at $278k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $254,346 (8.5% 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 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 0.91% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.77%
• DSCR: 1.12
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $348,192
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2800 Kalmia Ave Unit C-103	0.34mi	2/2.0	880 (+2%)	1mo	$334,500	$380	78
2800 Kalmia Ave Unit A310	0.40mi	2/2.0	880 (+2%)	0mo	$368,000	$418	76
2800 Kalmia Ave Unit A306	0.40mi	2/2.0	880 (+2%)	2mo	$355,000	$403	75
3565 28th St #201	0.39mi	2/2.0	830 (-4%)	2mo	$400,000	$482	72
3565 28th St #305	0.39mi	2/2.0	830 (-4%)	4mo	$330,000	$398	70
2800 Kalmia Ave Unit A-206	0.40mi	2/2.0	920 (+6%)	0mo	$290,000	$315	68
3055 30th St Unit 4A	0.54mi	2/2.0	886 (+2%)	2mo	$415,000	$468	67
2800 Kalmia Ave #320	0.42mi	2/2.0	902 (+4%)	12mo	$370,000	$410	61
3335 Chisholm Trl #202	0.57mi	2/1.5	963 (+12%)	0mo	$255,000	$265	54
3390 34th St Unit B	0.74mi	2/1.0	882 (+2%)	13mo	$452,500	$513	49
3120 Corona Trl Unit L-301	0.56mi	2/1.5	988 (+14%)	4mo	$269,200	$272	47
3335 Chisholm Trl #206	0.57mi	2/1.0	947 (+10%)	13mo	$375,000	$396	44

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.53×
• Total profit: $-36,619
• Equity at exit: $41,461

10-year hold

• IRR: -6.1%
• Equity multiple: 0.63×
• Total profit: $-29,187
• Equity at exit: $24,042

Cash invested: $77,860 (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 80304

• Rents YoY: 1.8%
• Active inventory: 256
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,543 high
• Mortgage (P&I): −$1,458
• Tax from tax record: −$131 /mo · $1,567/yr
• Insurance: −$116
• HOA: −$125
• Vacancy / Maint / Mgmt: −$534
• Net cashflow: $180

Break-even live

Break-even rent $2,316

Max offer price $278,070

Occupancy floor 88%

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: $69,518
• Closing costs: $8,342
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2625 Tabriz Pl Boulder, CO	3.0	1.0	1097	$3,600	$3.28	20d	1	0.06mi
2606 Juniper Ave Unit 34-1 Boulder, CO	1.0	1.0	548	$1,325	$2.42	13d	1	0.13mi
2747 Glenwood Ct Boulder, CO	2.0	1.5	1000	$1,850	$1.85	13d	1	0.13mi
2820 Hibiscus AVE Boulder, CO	3.0	1.0–2.5	1010	$3,678	$3.64	13d	91	0.24mi
3487 28th St #21 Boulder, CO	2.0	1.5	936	$2,600	$2.78	20d	1	0.26mi
3545 28th St #308 Boulder, CO	2.0	2.0	838	$2,950	$3.52	20d	1	0.31mi
2707 Valmont Rd Boulder, CO	1.0–2.0	1.0	684	$2,200	$3.22	20d	6	0.37mi
2800 Kalmia Ave Boulder, CO	2.0	1.5–2.0	880	$2,150	$2.44	20d	2	0.39mi
2995 Glenwood Dr Boulder, CO	1.0–2.0	1.0–1.5	807	$2,136	$2.65	13d	17	0.42mi
2850 Kalmia Ave Boulder, CO	1.0–2.0	1.0–2.0	850	$2,795	$3.29	13d	4	0.44mi
2995 Eagle Way Boulder, CO	2.0	1.0–1.5	639	$1,845	$2.89	20d	1	0.48mi
2727 Folsom St Unit 1 Boulder, CO	2.0	1.0	708	$2,295	$3.24	13d	1	0.50mi
3725 Birchwood Dr #23 Boulder, CO	2.0	1.5	1114	$2,295	$2.06	20d	1	0.53mi
3120 Corona Trl #209 Boulder, CO	2.0	2.0	966	$2,650	$2.74	20d	1	0.54mi
3150 Iris Ave Unit F309 Boulder, CO	1.0	1.0	676	$1,595	$2.36	20d	1	0.54mi
3315 Chisholm Trl Unit 1546453P Boulder, CO	2.0	1.0	861	$2,639	$3.07	13d	1	0.57mi
3485 Hayden Pl Unit 3 Boulder, CO	2.0	1.5	785	$2,495	$3.18	20d	1	0.74mi
3303 Bluff St Boulder, CO	3.0	1.0–2.5	1131	$3,789	$3.35	13d	38	0.80mi
2530 Junction Pl Boulder, CO	1.0–3.0	1.0–3.5	1204	$3,416	$2.84	13d	69	0.82mi
2437 Spruce St Boulder, CO	2.0	1.0	750	$1,900	$2.53	20d	1	0.86mi
2445 19th St Boulder, CO	1.0	1.0	800	$2,000	$2.50	20d	1	0.91mi
3000 Pearl Pkwy Boulder, CO	2.0	1.0–2.0	1249	$3,936	$3.15	13d	19	0.95mi
3100 Pearl St Boulder, CO	2.0	1.0–2.0	849	$3,875	$4.56	13d	23	0.98mi
1245 Elder Ave Boulder, CO	1.0–2.0	1.0–2.0	670	$2,100	$3.13	13d	4	1.06mi
1850 Folsom St Boulder, CO	1.0–2.0	1.0–2.0	1069	$2,650	$2.48	20d	2	1.08mi
1850 Folsom St Boulder, CO	1.0–2.0	1.0–2.0	1228	$2,650	$2.16	13d	2	1.08mi
1250 Elder Ave Boulder, CO	2.0	1.0	765	$1,600	$2.09	20d	1	1.09mi
3715 Canfield St Boulder, CO	2.0	1.0–2.0	827	$2,576	$3.11	13d	24	1.10mi
2113 Walnut St Unit 9B Boulder, CO	2.0	2.0	900	$4,295	$4.77	20d	1	1.11mi
1805 Spruce St Apt C Boulder, CO	1.0	1.0	550	$2,250	$4.09	20d	1	1.12mi
1853 26th St Boulder, CO	1.0–3.0	1.0–3.0	957	$2,678	$2.80	13d	21	1.13mi
1833 Folsom St Boulder, CO	1.0–2.0	1.0	782	$2,055	$2.63	20d	7	1.15mi
3073 Fulton Cir Boulder, CO	2.0	1.5	1032	$2,403	$2.33	13d	1	1.15mi
1830 22nd St #15 Boulder, CO	2.0	2.0	905	$2,500	$2.76	20d	1	1.16mi
1811 Folsom St Boulder, CO	1.0	1.0	450	$1,595	$3.54	13d	9	1.18mi
2000 Walnut St Boulder, CO	2.0	1.0–1.5	637	$2,399	$3.76	20d	13	1.18mi
1823 22nd St Boulder, CO	1.0	1.0	550	$1,615	$2.94	20d	4	1.19mi
2845 Broadway Unit 308 Boulder, CO	2.0	2.0	900	$1,895	$2.11	20d	1	1.20mi
1821 22nd St Boulder, CO	1.0–2.0	1.0	538	$1,700	$3.16	13d	5	1.21mi
2121 Canyon Blvd Boulder, CO	2.0	1.0	687	$2,549	$3.71	13d	13	1.21mi

HOA detail

• Monthly dues: $125 · $1,500/yr

Listing history 23 events

1. 2026-06-17
   status $278,070 Pending 36 DOM
2. 2026-06-17
   days on market $278,070 Active 36 DOM
3. 2026-06-16
   days on market $278,070 Active 35 DOM
4. 2026-06-15
   days on market $278,070 Active 34 DOM
5. 2026-06-14
   days on market $278,070 Active 32 DOM
6. 2026-06-13
   days on market $278,070 Active 31 DOM
7. 2026-06-10
   days on market $278,070 Active 29 DOM
8. 2026-06-09
   days on market $278,070 Active 28 DOM
9. 2026-06-09
   days on market $278,070 Active 27 DOM
10. 2026-06-07
    days on market $278,070 Active 26 DOM
11. 2026-06-05
    days on market $278,070 Active 23 DOM
12. 2026-06-03
    days on market $278,070 Active 22 DOM
13. 2026-06-02
    days on market $278,070 Active 21 DOM
14. 2026-06-01
    days on market $278,070 Active 20 DOM
15. 2026-05-31
    days on market $278,070 Active 19 DOM
16. 2026-05-30
    days on market $278,070 Active 18 DOM
17. 2026-05-01
    listed $278,070 Active
18. 2001-09-25
    soldstatus $165,900
19. 2001-08-31
    soldstatus $171,000
20. 2001-07-16
    listed $170,973
21. 1999-02-23
    soldstatus $145,000
22. 1999-02-19
    soldstatus $145,000
23. 1998-11-10
    listed $145,000

ⓘ 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: $1,567 · $131/mo
• Projected year-2 tax: $1,567 · $131/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 6/10 Major FEMA zone X (shaded) · 71% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,522
• − Mortgage interest: −$15,576
• − Property taxes: −$1,567
• − Insurance: −$1,390
• − Repairs & maintenance: −$2,442
• − Management: −$2,442
• − HOA: −$1,500
• − Depreciation: −$8,089
• Taxable loss: −$2,485
• Est. tax savings @ 24.0%: +$596
• After-tax cash flow: $2,752/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: Boulder Valley School District No. Re2
• NCES district ID: 0802490
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 67% ▲ 4.00%
• Median HH income: $70,395
• Composite: 51.3/100
• National rank: #1747
• State rank: #6 of 86 in CO

Livability — Boulder

• Score: 77/100
• State rank: #24
• US rank: #2958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boulder, CO
• County: Boulder County · 271,666 people
• City population: 121,246
• Metro: Boulder, CO
• Population (ZIP): 25,383
• Household income: $126,558
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 891.0

Population outlook (Boulder County) Hauer SSP2

• Today (2025): 380,833 people
• By 2030: 412,028 · +8.2%
• By 2040: 472,764 · +24.1%
• By 2050: 532,029 · +39.7%
• By 2075: 679,723 · +78.5%
• By 2100: 766,278 · +101.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 4% Romanian 4% Slovak 3%
• Foreign-born: 12% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% German/W. Germanic 1%

Political lean MEDSL · Boulder

• 2024 margin: Solid D (+55.8) · D 76.5% · R 20.8% · Other 2.7%
• 2008→2024 swing: +9.6pp toward D · 2008: 46.1pp · 2024: 55.8pp
• All cycles: 2024: D+55.8 2020: D+56.6 2016: D+48.6 2012: D+41.5 2008: D+46.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1111.31%
• Current HPI: 324.6478
• Rent YoY: ▲ 1.82%
• Metro: Boulder, 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

+91.8% since first listed

7 events — show timeline

• 2026-05-01 Listed $278,070 IRES
• 2001-09-25 Sold (MLS) $165,900 IRES
• 2001-08-31 Sold (Public Records) $171,000 Public Records
• 2001-07-16 Listed $170,973 IRES
• 1999-02-23 Sold (Public Records) $145,000 Public Records
• 1999-02-19 Sold (MLS) $145,000 IRES
• 1998-11-10 Listed $145,000 IRES

Property tax history

+2.0%/yr

Latest (2025): $1,567 · +34.9% YoY. Source: county tax records.