1166 N Madison Ave #191 · Loveland, CO 80537

$59,900

2 bd · 2.0 ba · 854 sqft · Manufactured public records · 227 Days on market

Built 1976 3,049 sqft lot Est $52k · 15% 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 +3.7/5.0
• Rent growth +3.4/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced to sell!! Cute & affordable home in gated 55 and over community! Enjoy the convenience of being close to everything in the central location yet quiet and private. Home is bursting with character from the hand scraped beams on the ceiling to the custom, rustic cabinetry. Recently updated and move in ready. Fresh exterior paint and new flooring throughout. Park allows dogs and yard can even be fenced if desired. Lower lot rent than neighboring park. Come see it today before it gets away! New community amenities coming soon! They are tentatively set to include: clubhouse, exercise room, dog park, exercise/ walking path and a hot tub.

Key facts

• Fully remodeled
• Newer carport
• Shopping

Tags

• FULLY REMODELED
• NEWER CARPORT
• ADDITIONAL STORAGE SHEDS
• WALKING PATHS
• COMMUNITY GATHERING AREAS
• SHOPPING

Property features AI

Finance

• Other: Minimal flood risk (C rating)

Exterior

• Parking: Carport
• Utilities: City water (meter installed); Public sewer; Natural gas available (Xcel); Electricity available; Cable and satellite available; High-speed internet available; Trash service: Loveland
• Home design: Manufactured in park; Mobile home; Level lot
• Construction: Frame construction with metal and vinyl siding; Composition roof; Under carriage: UBC; Storage structure on property
• Exterior features: Deck; Land lease; Paved lot; Asphalt road frontage; Security gate access

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Wall/window cooling unit(s)
• Interior features: Eat-in kitchen; Open floorplan; Kitchen island; Fire alarm
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $785 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.0% vs local median 2.9% in Loveland — 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 73/100 on livability (#52 in CO) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A; Watch: crime C-, commute F, cost of living 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: Winona Elementary School (math 15% / reading 22%, grade F, #724 of 966 statewide, top 77%, 250 students, 68% FRL); Mountain View High School (math 24% / reading 51%, grade F, #192 of 381 statewide, top 51%, 1,138 students, 35% FRL) — zoned schools average 51% FRL vs 29% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.6%/yr); 283 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $414 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 + 3.6% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.53% ✓
• Cap rate: 22.02%
• Cash-on-cash: 56.16%
• DSCR: 3.50
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $52,094
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1166 Madison Ave #71	0.00mi	2/2.0	924 (+8%)	1mo	$45,000	$49	86
1166 Madison Ave #130	0.00mi	2/1.0	896 (+5%)	12mo	$47,500	$53	78
1700 Pearl Dr #106	0.25mi	2/2.0	896 (+5%)	3mo	$60,000	$67	78
1535 Sunset Pl #32	0.09mi	2/2.0	924 (+8%)	7mo	$47,500	$51	77
1166 Madison Ave #87	0.00mi	2/1.0	928 (+9%)	13mo	$24,500	$26	70
1166 Madison Ave #209	0.00mi	2/1.0	896 (+5%)	22mo	$55,000	$61	69
1519 Sunset Pl #34	0.09mi	3/2.0 (+1)	924 (+8%)	10mo	$37,500	$41	69
1519 Sunset Pl	0.09mi	3/2.0 (+1)	924 (+8%)	15mo	$10,000	$11	64
1367 Sylmar Pl #11	0.10mi	3/2.0 (+1)	960 (+12%)	10mo	$92,000	$96	61
1415 Sunset Pl #5	0.07mi	2/2.0	938 (+10%)	24mo	$79,000	$84	60
1850 Sandstone Ct #84	0.35mi	2/1.0	960 (+12%)	7mo	$70,000	$73	53
1826 Sandstone Ct #86	0.33mi	3/1.0 (+1)	980 (+15%)	0mo	$115,000	$117	50

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 · 3.57% rent growth · sell at horizon

5-year hold

• IRR: 55.2%
• Equity multiple: 3.46×
• Total profit: $41,187
• Equity at exit: $8,931

10-year hold

• IRR: 60.5%
• Equity multiple: 7.20×
• Total profit: $103,969
• Equity at exit: $5,179

Cash invested: $16,772 (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 80537

• Rents YoY: 3.6%
• Active inventory: 283
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,518 high
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $785

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 43%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1302 Nickel Dr Unit 1 Loveland, CO	3.0	1.0	950	$1,300	$1.37	23d	1	0.08mi
1710 E 16th St Loveland, CO	2.0	1.5	900	$1,427	$1.59	23d	1	0.38mi
1706 E 16th St Unit 1710 Loveland, CO	2.0	1.5	900	$1,250	$1.39	23d	1	0.39mi
1707 E 16th St Unit 1717 Loveland, CO	2.0	1.5	825	$1,295	$1.57	13d	1	0.41mi
1338 E 7th St Loveland, CO	2.0	1.0	598	$1,695	$2.83	13d	1	0.47mi
1840 E 17th St Unit 1840 Loveland, CO	3.0	1.0	1000	$1,345	$1.34	13d	1	0.50mi
1707 Cheyenne Ave Unit 8 Loveland, CO	2.0	1.0	820	$1,245	$1.52	23d	1	0.52mi
1640 Cheyenne Ave Loveland, CO	2.0	1.0	900	$1,900	$2.11	23d	1	0.54mi
1292 E 6th St Loveland, CO	1.0–3.0	1.0–1.5	845	$1,729	$2.05	13d	1	0.56mi
1494 E 5th St Loveland, CO	2.0	1.0	800	$1,525	$1.91	23d	1	0.60mi
1492 E 5th St Loveland, CO	1.0	1.0	800	$1,350	$1.69	23d	1	0.60mi
1143 E 5th St Loveland, CO	2.0	1.0	760	$1,250	$1.64	23d	1	0.61mi
1145 E 5th St Loveland, CO	2.0	1.0	760	$1,250	$1.64	23d	1	0.61mi
1054 E 5th St Loveland, CO	3.0	1.0	1090	$1,700	$1.56	13d	1	0.71mi
1325 N Jefferson Ave Loveland, CO	2.0	1.0	850	$1,545	$1.82	23d	1	0.80mi
339 E 10th St Loveland, CO	1.0	1.0	576	$1,358	$2.36	21d	3	0.81mi
574 E 23rd St Loveland, CO	2.0	1.0	956	$1,250	$1.31	23d	5	0.99mi
325 E 5th St Loveland, CO	3.0	1.0–2.0	1188	$2,045	$1.72	13d	1	1.00mi
347 N Washington Ave Loveland, CO	1.0	1.0	650	$1,195	$1.84	23d	1	1.00mi
347 N Washington Ave Loveland, CO	1.0	1.0	650	$1,195	$1.84	13d	1	1.00mi
585 N Lincoln Ave Loveland, CO	1.0–2.0	1.0–2.0	747	$1,750	$2.34	23d	3	1.03mi
247 W 10th St Loveland, CO	2.0	2.0	865	$2,500	$2.89	21d	1	1.15mi
331 N Cleveland Ave Unit 220 Loveland, CO	2.0	1.0	625	$1,400	$2.24	23d	1	1.16mi
246 N Cleveland Ave Loveland, CO	3.0	1.0–2.0	1022	$2,544	$2.49	13d	11	1.18mi
2900 Mountain Lion Dr Loveland, CO	3.0	1.0–2.0	936	$2,048	$2.19	13d	17	1.22mi
130 E 1st St Loveland, CO	2.0	1.0	800	$1,695	$2.12	23d	1	1.31mi
140 E 1st St Loveland, CO	2.0	2.0	875	$1,795	$2.05	13d	1	1.31mi
256 S Cleveland Ave Loveland, CO	1.0	1.0	600	$1,395	$2.33	23d	1	1.35mi
430 W 10th St Loveland, CO	2.0	1.0	756	$1,400	$1.85	23d	1	1.35mi
434 W 10th St Loveland, CO	2.0	1.0	872	$1,400	$1.61	23d	1	1.35mi
260 S Cleveland Ave Loveland, CO	1.0	1.0	600	$1,395	$2.33	23d	1	1.35mi
466 W 10th St Loveland, CO	2.0	1.0	840	$1,400	$1.67	23d	1	1.38mi
480 W 10th St Loveland, CO	2.0	2.0	940	$1,700	$1.81	23d	1	1.39mi
1015 Roosevelt Ave Unit B1 Loveland, CO	2.0	1.0	900	$1,500	$1.67	23d	1	1.41mi

Listing history 21 events

1. 2026-06-18
   days on market $59,900 Active 227 DOM
2. 2026-06-17
   days on market $59,900 Active 226 DOM
3. 2026-06-16
   days on market $59,900 Active 225 DOM
4. 2026-06-15
   days on market $59,900 Active 224 DOM
5. 2026-06-14
   days on market $59,900 Active 222 DOM
6. 2026-06-13
   days on market $59,900 Active 221 DOM
7. 2026-06-10
   days on market $59,900 Active 219 DOM
8. 2026-06-09
   days on market $59,900 Active 218 DOM
9. 2026-06-08
   days on market $59,900 Active 217 DOM
10. 2026-06-07
    days on market $59,900 Active 216 DOM
11. 2026-06-03
    days on market $59,900 Active 212 DOM
12. 2026-06-02
    days on market $59,900 Active 211 DOM
13. 2026-06-01
    days on market $59,900 Active 210 DOM
14. 2026-05-31
    days on market $59,900 Active 209 DOM
15. 2026-05-30
    days on market $59,900 Active 208 DOM
16. 2026-03-28
    price $59,900
17. 2025-11-03
    listed $64,900 Active
18. 2020-03-05
    soldstatus $40,000 Sold 649-char remark

    Show marketing remark (649 chars)

    Priced to sell!! Cute & affordable home in gated 55 and over community! Enjoy the convenience of being close to everything in the central location yet quiet and private. Home is bursting with character from the hand scraped beams on the ceiling to the custom, rustic cabinetry. Recently updated and move in ready. Fresh exterior paint and new flooring throughout. Park allows dogs and yard can even be fenced if desired. Lower lot rent than neighboring park. Come see it today before it gets away! New community amenities coming soon! They are tentatively set to include: clubhouse, exercise room, dog park, exercise/ walking path and a hot tub.

19. 2020-02-26
    historical Active - Backup 649-char remark

    Show marketing remark (649 chars)

    Priced to sell!! Cute & affordable home in gated 55 and over community! Enjoy the convenience of being close to everything in the central location yet quiet and private. Home is bursting with character from the hand scraped beams on the ceiling to the custom, rustic cabinetry. Recently updated and move in ready. Fresh exterior paint and new flooring throughout. Park allows dogs and yard can even be fenced if desired. Lower lot rent than neighboring park. Come see it today before it gets away! New community amenities coming soon! They are tentatively set to include: clubhouse, exercise room, dog park, exercise/ walking path and a hot tub.

20. 2019-12-09
    price $46,000 649-char remark

    Show marketing remark (649 chars)

    Priced to sell!! Cute & affordable home in gated 55 and over community! Enjoy the convenience of being close to everything in the central location yet quiet and private. Home is bursting with character from the hand scraped beams on the ceiling to the custom, rustic cabinetry. Recently updated and move in ready. Fresh exterior paint and new flooring throughout. Park allows dogs and yard can even be fenced if desired. Lower lot rent than neighboring park. Come see it today before it gets away! New community amenities coming soon! They are tentatively set to include: clubhouse, exercise room, dog park, exercise/ walking path and a hot tub.

21. 2019-11-15
    listed $49,500 Active 649-char remark

    Show marketing remark (649 chars)

    Priced to sell!! Cute & affordable home in gated 55 and over community! Enjoy the convenience of being close to everything in the central location yet quiet and private. Home is bursting with character from the hand scraped beams on the ceiling to the custom, rustic cabinetry. Recently updated and move in ready. Fresh exterior paint and new flooring throughout. Park allows dogs and yard can even be fenced if desired. Lower lot rent than neighboring park. Come see it today before it gets away! New community amenities coming soon! They are tentatively set to include: clubhouse, exercise room, dog park, exercise/ walking path and a hot tub.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,212
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,457
• − Management: −$1,457
• − Depreciation: −$1,743
• Taxable income: $9,002
• Est. tax owed @ 24.0%: −$2,160
• After-tax cash flow: $7,259/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 — Loveland

• Score: 73/100
• State rank: #52
• US rank: #5353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loveland, CO
• County: Larimer County · 338,255 people
• City population: 94,535
• Metro: Fort Collins, CO
• Population (ZIP): 44,425
• Household income: $86,325
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1703.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 8%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 4% Italian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -606.26%
• Current HPI: 253.4939
• Rent YoY: ▲ 3.57%
• 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

+21.0% since first listed

6 events — show timeline

• 2026-03-28 Price Changed $59,900 IRES
• 2025-11-03 Listed $64,900 IRES
• 2020-03-05 Sold (MLS) $40,000 IRES
• 2020-02-26 Contingent — IRES
• 2019-12-09 Price Changed $46,000 IRES
• 2019-11-15 Listed $49,500 IRES

Property tax history

+9.1%/yr

Latest (2021): $87 · +19.5% YoY. Source: county tax records.