230 N 2nd St #26 · Berthoud, CO 80513

$98,500

3 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 150 Days on market

Built 2001 Est $77k · 28% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your dream home in the charming Blue Spruce Village community in Berthoud, Colorado! This beautifully updated manufactured home offers a perfect blend of modern updates and comfortable living.Step inside, and immediately notice the fresh, new paint and the stunning water-resistant vinyl flooring that flows throughout the home. The spacious living area is perfect for winding down and entertaining. The heart of this home is the gorgeous remodeled kitchen. The sleek stainless steel appliances, modern cabinetry, and stylish countertops, completely tie together perfectly.This home features two beautifully remodeled bathrooms, each thoughtfully designed with contemporary fixtures and finishes. With 2 comfortable bedrooms, there's plenty of space for family and guests. Step outside to enjoy the convenience of a new carport, offering protection for your vehicle from the elements. The well-maintained exterior and landscaped surroundings add to the overall appeal of this wonderful property. Located in Blue Spruce Village, you'll have access to a wonderful community with friendly neighbors and a serene atmosphere. Berthoud offers the perfect balance of small-town charm and proximity to larger cities, providing a wide range of amenities and recreational opportunities. Don't miss out on this incredible opportunity to own a beautifully updated home! Schedule a showing today and experience this property for yourself!

Key facts

• Covered carport
• Spacious kitchen
• Walk to town

Tags

• REMODELED HOME
• SPACIOUS KITCHEN
• COVERED CARPORT
• SOUGHT AFTER COMMUNITY
• WALK TO TOWN

Property features AI

Exterior

• Parking: No garage; No designated parking features
• Utilities: City water with meter installed; No water rights; Public sewer
• Home design: Manufactured in park; Mobile home
• Construction: Frame construction; Composition roof
• Exterior features: Land lease

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Window coverings; Storage included as an additional structure
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $98k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.0% vs local median 3.2% in Berthoud — 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 69/100 on livability (#100 in CO) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A-; Watch: amenities F, cost of living F, health & safety 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.
• Market conditions: 357 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $681 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 + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $86,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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. 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.
6. 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.
7. 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: 2.72% ✓
• Cap rate: 24.95%
• Cash-on-cash: 66.64%
• DSCR: 3.97
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $77,088
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 N 2nd St #83	0.00mi	3/2.0	1,056 (0%)	1mo	$55,000	$52	99
230 N 2nd St #4	0.00mi	2/1.5 (-1)	1,056 (0%)	13mo	$49,000	$46	82
230 N 2nd St N #80	0.00mi	2/2.0 (-1)	960 (-9%)	0mo	$82,000	$85	79
230 N 2nd St #7	0.00mi	3/2.0	924 (-12%)	6mo	$66,999	$73	74
227 N 2nd St #20	0.09mi	2/1.0 (-1)	960 (-9%)	3mo	$72,000	$75	69
230 N 2nd St #9	0.00mi	2/2.0 (-1)	960 (-9%)	18mo	$84,000	$88	65
230 N 2nd St #10	0.00mi	2/1.0 (-1)	980 (-7%)	18mo	$52,000	$53	64

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 65.9%
• Equity multiple: 3.96×
• Total profit: $81,572
• Equity at exit: $14,687

10-year hold

• IRR: 70.2%
• Equity multiple: 8.13×
• Total profit: $196,572
• Equity at exit: $8,516

Cash invested: $27,580 (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 80513

• Active inventory: 357
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,680 medium
• Mortgage (P&I): −$517
• Tax from tax record: −$28 /mo · $335/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $1,532

Break-even live

Break-even rent $741

Max offer price $98,500

Occupancy floor 38%

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1155 Summit Vista Dr Berthoud, CO	3.0	2.5	1377	$2,650	$1.92	14d	1	0.93mi

Listing history 28 events

1. 2026-06-18
   days on market $98,500 Active 150 DOM
2. 2026-06-17
   days on market $98,500 Active 149 DOM
3. 2026-06-16
   days on market $98,500 Active 148 DOM
4. 2026-06-15
   remarks 510-char remark
5. 2026-06-15
   days on market $98,500 Active 147 DOM
6. 2026-06-14
   days on market $98,500 Active 145 DOM
7. 2026-06-13
   days on market $98,500 Active 144 DOM
8. 2026-06-10
   remarks 450-char remark
9. 2026-06-10
   days on market $98,500 Active 142 DOM
10. 2026-06-09
    days on market $98,500 Active 141 DOM
11. 2026-06-08
    days on market $98,500 Active 140 DOM
12. 2026-06-07
    days on market $98,500 Active 139 DOM
13. 2026-06-03
    days on market $98,500 Active 135 DOM
14. 2026-06-02
    days on market $98,500 Active 134 DOM
15. 2026-06-01
    days on market $98,500 Active 133 DOM
16. 2026-05-31
    days on market $98,500 Active 132 DOM
17. 2026-05-30
    days on market $98,500 Active 131 DOM
18. 2026-04-30
    price $98,500
19. 2026-03-25
    price $99,900
20. 2026-01-19
    listed $105,000 Active
21. 2025-12-18
    historical
22. 2025-11-28
    price $105,000
23. 2025-10-13
    price $116,900
24. 2025-08-25
    price $122,000
25. 2025-07-31
    listed $125,000 Active
26. 2024-08-16
    soldstatus $79,000 Sold 1436-char remark

    Show marketing remark (1436 chars)

    Welcome to your dream home in the charming Blue Spruce Village community in Berthoud, Colorado! This beautifully updated manufactured home offers a perfect blend of modern updates and comfortable living.Step inside, and immediately notice the fresh, new paint and the stunning water-resistant vinyl flooring that flows throughout the home. The spacious living area is perfect for winding down and entertaining. The heart of this home is the gorgeous remodeled kitchen. The sleek stainless steel appliances, modern cabinetry, and stylish countertops, completely tie together perfectly.This home features two beautifully remodeled bathrooms, each thoughtfully designed with contemporary fixtures and finishes. With 2 comfortable bedrooms, there's plenty of space for family and guests. Step outside to enjoy the convenience of a new carport, offering protection for your vehicle from the elements. The well-maintained exterior and landscaped surroundings add to the overall appeal of this wonderful property. Located in Blue Spruce Village, you'll have access to a wonderful community with friendly neighbors and a serene atmosphere. Berthoud offers the perfect balance of small-town charm and proximity to larger cities, providing a wide range of amenities and recreational opportunities. Don't miss out on this incredible opportunity to own a beautifully updated home! Schedule a showing today and experience this property for yourself!

27. 2024-07-25
    price $85,000 1436-char remark

    Show marketing remark (1436 chars)

    Welcome to your dream home in the charming Blue Spruce Village community in Berthoud, Colorado! This beautifully updated manufactured home offers a perfect blend of modern updates and comfortable living.Step inside, and immediately notice the fresh, new paint and the stunning water-resistant vinyl flooring that flows throughout the home. The spacious living area is perfect for winding down and entertaining. The heart of this home is the gorgeous remodeled kitchen. The sleek stainless steel appliances, modern cabinetry, and stylish countertops, completely tie together perfectly.This home features two beautifully remodeled bathrooms, each thoughtfully designed with contemporary fixtures and finishes. With 2 comfortable bedrooms, there's plenty of space for family and guests. Step outside to enjoy the convenience of a new carport, offering protection for your vehicle from the elements. The well-maintained exterior and landscaped surroundings add to the overall appeal of this wonderful property. Located in Blue Spruce Village, you'll have access to a wonderful community with friendly neighbors and a serene atmosphere. Berthoud offers the perfect balance of small-town charm and proximity to larger cities, providing a wide range of amenities and recreational opportunities. Don't miss out on this incredible opportunity to own a beautifully updated home! Schedule a showing today and experience this property for yourself!

28. 2024-06-14
    listed $90,000 Active 1436-char remark

    Show marketing remark (1436 chars)

    Welcome to your dream home in the charming Blue Spruce Village community in Berthoud, Colorado! This beautifully updated manufactured home offers a perfect blend of modern updates and comfortable living.Step inside, and immediately notice the fresh, new paint and the stunning water-resistant vinyl flooring that flows throughout the home. The spacious living area is perfect for winding down and entertaining. The heart of this home is the gorgeous remodeled kitchen. The sleek stainless steel appliances, modern cabinetry, and stylish countertops, completely tie together perfectly.This home features two beautifully remodeled bathrooms, each thoughtfully designed with contemporary fixtures and finishes. With 2 comfortable bedrooms, there's plenty of space for family and guests. Step outside to enjoy the convenience of a new carport, offering protection for your vehicle from the elements. The well-maintained exterior and landscaped surroundings add to the overall appeal of this wonderful property. Located in Blue Spruce Village, you'll have access to a wonderful community with friendly neighbors and a serene atmosphere. Berthoud offers the perfect balance of small-town charm and proximity to larger cities, providing a wide range of amenities and recreational opportunities. Don't miss out on this incredible opportunity to own a beautifully updated home! Schedule a showing today and experience this property for yourself!

ⓘ 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: $335 · $28/mo
• Projected year-2 tax: $542 · $45/mo
• Expected delta: +$206/yr (+$17/mo · 61.6%)

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,160
• − Mortgage interest: −$5,518
• − Property taxes: −$335
• − Insurance: −$492
• − Repairs & maintenance: −$2,573
• − Management: −$2,573
• − Depreciation: −$2,865
• Taxable income: $17,803
• Est. tax owed @ 24.0%: −$4,273
• After-tax cash flow: $14,107/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: Thompson School District R-2J
• NCES district ID: 0805400
• Math proficiency: 28% ▼ -7.00%
• Reading proficiency: 48% ▬ 0.00%
• Median HH income: $63,040
• Composite: 34.01/100
• National rank: #5313
• State rank: #28 of 86 in CO

Livability — Berthoud

• Score: 69/100
• State rank: #100
• US rank: #8538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berthoud, CO
• County: Larimer County · 338,255 people
• City population: 18,271
• Metro: Fort Collins, CO
• Population (ZIP): 18,271
• Household income: $126,726
• Rent vs Own: 10.4% rent · 89.6% own
• Severe rent burden: 55.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 6%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Slovak 6% Romanian 4% Lithuanian 4%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 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: ▼ -411.30%
• Current HPI: 260.0027
• Rent YoY: —
• 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

+9.4% since first listed

11 events — show timeline

• 2026-04-30 Price Changed $98,500 IRES
• 2026-03-25 Price Changed $99,900 IRES
• 2026-01-19 Listed $105,000 IRES
• 2025-12-18 Listing Removed — IRES
• 2025-11-28 Price Changed $105,000 IRES
• 2025-10-13 Price Changed $116,900 IRES
• 2025-08-25 Price Changed $122,000 IRES
• 2025-07-31 Listed $125,000 IRES
• 2024-08-16 Sold (MLS) $79,000 IRES
• 2024-07-25 Price Changed $85,000 IRES
• 2024-06-14 Listed $90,000 IRES

Property tax history

+5.9%/yr

Latest (2025): $335 · +215.8% YoY. Source: county tax records.