1601 N College Ave #32 · Fort Collins, CO 80524

$52,000

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 16 Days on market

Built 2021 Good condition Est $50k · at est.

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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 +6.1/15.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in a gated 55+ community in Fort Collins, this charming home offers comfort and convenience just minutes from shopping, dining, and everyday essentials. Attractive curb appeal welcomes you with crisp siding, clean skirting, and a well-kept exterior. Inside, an open floor plan is highlighted by vaulted ceilings and beautiful luxury vinyl flooring that flows throughout the home. The spacious living area connects seamlessly to the kitchen, which features included appliances, abundant cabinetry, and plenty of storage. Natural light fills the primary bedroom through a large window, creating a bright and inviting retreat. Complete with a walk-in closet and private en-suite bathroom, this

Key facts

• Gated community
• Open floor plan
• Walk-in closet

Tags

• GATED COMMUNITY
• OPEN FLOOR PLAN
• LUXURY VINYL FLOORING
• INCLUDED APPLIANCES
• ABUNDANT CABINETRY
• WALK-IN CLOSET

Property features AI

Finance

• Other: Minimal flood or C rating
• HOA & community: No association fees

Exterior

• Parking: No garage; No designated parking features
• Security: Community security gate
• Utilities: City water with meter installed; Public sewer; Natural gas available (Xcel); Electricity available
• Home design: Manufactured in park; Manufactured home
• Construction: Vinyl siding; Composition roof
• Exterior features: Land lease; Concrete road surface; Security gate

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Cathedral ceilings; Open floor plan; Walk-in closet(s); Window coverings

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $52k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $933 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $52k).
• Recommended offer: $51k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.8% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $360 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($51k) is reasonable based on typical stale-listing flexibility.

Recommended offer $51,220 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 3.06% ✓
• Cap rate: 27.82%
• Cash-on-cash: 76.87%
• DSCR: 4.42
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $50,400
• 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 #41	0.00mi	2/2.0	840 (0%)	1mo	$32,000	$38	95
1601 N College Ave #77	0.00mi	2/2.0	840 (0%)	23mo	$70,000	$83	76
1601 N College Ave #144	0.00mi	2/2.0	896 (+7%)	13mo	$48,000	$54	74
1601 N College Ave #134	0.00mi	2/1.0	728 (-13%)	9mo	$26,500	$36	70
1601 N College Ave #274	0.00mi	2/1.5	938 (+12%)	12mo	$67,000	$71	68
1601 N College Ave #330	0.00mi	2/2.0	938 (+12%)	11mo	$19,500	$21	68
1601 N College Ave #270	0.00mi	2/1.0	938 (+12%)	21mo	$67,500	$72	63
1601 N College Ave #11	0.00mi	3/2.0 (+1)	960 (+14%)	9mo	$11,000	$11	60
1601 N College Ave #343	0.00mi	2/2.0	924 (+10%)	23mo	$75,000	$81	60
1601 N College Ave #352	0.00mi	2/2.0	952 (+13%)	17mo	$35,000	$37	60
2025 N College Ave #243	0.47mi	3/2.0 (+1)	924 (+10%)	11mo	$55,000	$60	44
301 Spaulding Ln #35	0.55mi	3/2.0 (+1)	938 (+12%)	22mo	$90,000	$96	27

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: 78.1%
• Equity multiple: 4.63×
• Total profit: $52,813
• Equity at exit: $7,753

10-year hold

• IRR: 81.9%
• Equity multiple: 9.94×
• Total profit: $130,185
• Equity at exit: $4,496

Cash invested: $14,560 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,593 high
• Mortgage (P&I): −$273
• Tax from tax record: −$31 /mo · $377/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $933

Break-even live

Break-even rent $412

Max offer price $52,000

Occupancy floor 36%

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 N College Ave #60 Fort Collins, CO	2.0	1.0	784	$1,150	$1.47	23d	1	0.03mi
1713 Aspen St Fort Collins, CO	1.0	1.0	660	$1,500	$2.27	21d	1	0.26mi
1331 Redwood St Fort Collins, CO	2.0	1.5–2.0	1154	$1,598	$1.38	13d	2	0.59mi
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
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
172 N College Ave Fort Collins, CO	1.0–2.0	1.0	462	$1,723	$3.73	23d	4	1.35mi
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
221 E Mountain Ave #315 Fort Collins, CO	1.0	1.5	781	$2,600	$3.33	23d	1	1.49mi

Listing history 11 events

1. 2026-06-18
   days on market $52,000 Active 16 DOM
2. 2026-06-17
   days on market $52,000 Active 15 DOM
3. 2026-06-16
   days on market $52,000 Active 14 DOM
4. 2026-06-15
   days on market $52,000 Active 13 DOM
5. 2026-06-14
   days on market $52,000 Active 11 DOM
6. 2026-06-10
   days on market $52,000 Active 8 DOM
7. 2026-06-09
   days on market $52,000 Active 7 DOM
8. 2026-06-08
   days on market $52,000 Active 6 DOM
9. 2026-06-07
   days on market $52,000 Active 5 DOM
10. 2026-06-03
    remarks 699-char remark
11. 2026-06-03
    listed $52,000 Active 1 DOM

ⓘ 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: $377 · $31/mo
• Projected year-2 tax: $377 · $31/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: $19,117
• − Mortgage interest: −$2,913
• − Property taxes: −$377
• − Insurance: −$260
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$1,513
• Taxable income: $10,995
• Est. tax owed @ 24.0%: −$2,639
• After-tax cash flow: $8,554/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This manufactured home in a gated 55+ community is in good condition with cosmetic updates needed to enhance curb appeal and value. The interior is well-maintained with good flooring and walls. Upgrades to the exterior and kitchen would significantly increase its resale and rental value.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and value
• Both Replace the front door — Improves curb appeal and security
• Both Upgrade the kitchen appliances — Modernizes the space and adds value
• Both Install new flooring in bathrooms — Enhances aesthetics and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and value ↑
• Both Replace the front door — Improves curb appeal and security ↑
• Both Upgrade the kitchen appliances — Modernizes the space and adds value ↑
• Both Install new flooring in bathrooms — Enhances aesthetics and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-30 Listed $52,000 IRES

Property tax history

+103.3%/yr

Latest (2025): $377 · +293.3% YoY. Source: county tax records.