230 N 2nd St #29 · Berthoud, CO 80513

$75,000

3 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 18 Days on market

Built 1995 Est $77k · 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 +8.7/15.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home! This home has been well cared for and is move in ready! 2 extra large bedrooms with their own full bathrooms are split from one another, allowing for a very large open and spacious living room, kitchen and dining rooms. Blue Spruce Village is an all age community with low $600 / month lot rent. Home comes with an oversized shed and parking for 3 cars. Financing is available with 21st Mortgage. Park requires a background check on everyone over the age of 18. No dogs allowed in the community.

Key facts

• Split-bedroom layout
• Recent updates
• Built 1995

Tags

• SPLIT-BEDROOM LAYOUT
• LARGE OPEN LIVING SPACE
• OVER SIZED STORAGE SHED
• PARKING FOR THREE VEHICLES
• RECENT UPDATES

Property features AI

Finance

• Other: Minimal flood or C floodplain rating; Lot is level, paved, with evergreen trees and a fire hydrant within 500 feet; Asphalt road surface
• HOA & community: No association fees

Exterior

• Parking: No garage; No designated parking features listed
• Utilities: City water (meter installed); Public sewer; Natural gas available (Xcel); Electricity available; Community trash collection
• Home design: Manufactured in park (mobile home); Privately maintained road to county standards
• Construction: Frame construction; Composition siding; Composition roof
• Exterior features: Land lease; Storage structure

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator; Garbage disposal
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Wall/window air conditioning units; Evaporative cooling
• Interior features: Separate dining room; Cathedral ceilings; Open floorplan; Fire alarm
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 32.9% 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+; 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.
• Zoned schools: Ivy Stockwell Elementary School (math 47% / reading 57%, grade C-, #174 of 966 statewide, top 20%, 402 students, 21% FRL); Berthoud High School (math 37% / reading 62%, grade D, #115 of 381 statewide, top 34%, 691 students, 15% FRL).
• Zoned-school proficiency averages 51% at this address vs 38% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Thompson School District R-2J average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 369 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 $519 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 + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 4 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 $62k; 21% 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 $73,875 (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 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?
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: 3.57% ✓
• Cap rate: 32.86%
• Cash-on-cash: 94.88%
• DSCR: 5.22
• GRM: 2.3

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: 95.7%
• Equity multiple: 5.46×
• Total profit: $93,599
• Equity at exit: $11,183

10-year hold

• IRR: 98.5%
• Equity multiple: 11.37×
• Total profit: $217,684
• Equity at exit: $6,485

Cash invested: $21,000 (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: 369
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,680 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$32 /mo · $387/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $1,660

Break-even live

Break-even rent $578

Max offer price $75,000

Occupancy floor 33%

Sensitivity live

Price	-10% $1,703	-5% $1,682	+0% $1,660	+5% $1,639	+10% $1,618
Rent	-10% $1,449	-5% $1,555	+0% $1,660	+5% $1,766	+10% $1,872
Rate	-1.0pp $1,698	-0.5pp $1,679	base $1,660	+0.5pp $1,641	+1.0pp $1,621

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: $18,750
• Closing costs: $2,250
• 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	15d	1	0.93mi

Listing history 12 events

1. 2026-06-21
   days on market $75,000 Active 18 DOM
2. 2026-06-18
   days on market $75,000 Active 15 DOM
3. 2026-06-17
   days on market $75,000 Active 14 DOM
4. 2026-06-16
   days on market $75,000 Active 13 DOM
5. 2026-06-15
   days on market $75,000 Active 12 DOM
6. 2026-06-14
   days on market $75,000 Active 10 DOM
7. 2026-06-13
   days on market $75,000 Active 9 DOM
8. 2026-06-10
   days on market $75,000 Active 7 DOM
9. 2026-06-09
   days on market $75,000 Active 6 DOM
10. 2026-06-08
    days on market $75,000 Active 5 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $75,000 Active 4 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: $387 · $32/mo
• Projected year-2 tax: $412 · $34/mo
• Expected delta: +$25/yr (+$2/mo · 6.6%)

ⓘ 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: −$4,201
• − Property taxes: −$387
• − Insurance: −$375
• − Repairs & maintenance: −$2,573
• − Management: −$2,573
• − Depreciation: −$2,182
• Taxable income: $19,869
• Est. tax owed @ 24.0%: −$4,769
• After-tax cash flow: $15,156/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

+88.0% since first listed

9 events — show timeline

• 2026-06-03 Listed $75,000 IRES
• 2022-07-28 Sold (MLS) $62,000 IRES
• 2022-06-10 Contingent — IRES
• 2022-05-20 Relisted — IRES
• 2022-04-11 Pending — IRES
• 2022-04-02 Price Changed $62,000 IRES
• 2021-11-09 Listed $69,900 IRES
• 1999-01-29 Sold (MLS) $38,500 IRES
• 1998-11-25 Listed $39,900 IRES

Property tax history

+6.7%/yr

Latest (2025): $387 · +236.3% YoY. Source: county tax records.