1825 12th Ave · Greeley, CO 80631

$499,900

8 bd · 4.0 ba · 3,768 sqft · MultiFamily public records · 17 Days on market

Built 1906 0.35 ac lot Est $610k · 18% under

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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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.5/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

This 2 story, 4 unit (5 with garage) rental property is located in the exclusive Cranford subdivision, several blocks South of the UNC campus. The projected rental income is $3,745 month. 2 Units currently available. The property is in good condition, with ample off street parking in back (alley access). Some touch up painting on the stairway will be needed to comply with FHA/VA standards. A good income property in a prime location. 24 Hour notice required for all showings.

Key facts

• Off street parking
• Cranford subdivision
• Prime location

Tags

• CRANFORD SUBDIVISION
• OFF STREET PARKING
• PRIME LOCATION

Property features AI

Finance

• Financial info: Total of 4 units; Income includes lease/rents; Gross income reported as $3,557.75; Net operating income reported as -37.25; Tenants responsible for deposit, gas, and electricity
• HOA & community: No association fees

Exterior

• Parking: One parking space per unit
• Utilities: City water (meter installed); Public sewer; Natural gas available (Atmos Energy); Electricity available; Separate meters for electricity and gas
• Home design: Two-story building; Residential income, multi-family property; Not new construction
• Construction: Frame construction; Composition roof
• Exterior features: Sloping lot; Property faces east; Paved streets with curbs and gutters; Sidewalks; Street light; Alley access; Fire hydrant within 500 feet; Asphalt road surface; City street frontage; Minimal flood risk or C rating

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: One 1-bedroom units (two units); One 2-bedroom unit; One additional unit (type not specified)
• Bathrooms: Two 1-bathroom units; One additional bathroom count not specified
• Heating & cooling: Forced air heating
• Interior features: Electric range; Refrigerator; Forced air heating

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $257/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $500k).
• Recommended offer: $492k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.3% in Greeley — 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 68/100 on livability (#115 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: cost of living C-, crime F, amenities F.
• Greeleyschool District No. 6 In The County Of Weld And Sta (urban): math 15% / reading 31% proficiency, ranked #71 of 86 in CO (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Maplewood Elementary School (math 8% / reading 17%, grade F, #869 of 966 statewide, top 91%, 559 students, 91% FRL); Greeley Central High School (math 14% / reading 36%, grade F, #263 of 381 statewide, top 69%, 1,484 students, 64% FRL) — zoned schools average 78% FRL vs 54% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.7%/yr); 180 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,170 units permitted in Weld County in 2024 (278 in 5+ unit buildings).
• At $5,260/mo this rent would consume 116% of the median local household income ($55k/yr) (locally 3061% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Weld County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $140k; list at $500k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $492,401 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.80%
• DSCR: 1.39
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $610,416
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1856 11th Ave	0.17mi	9/4.0 (+1)	3,484 (-8%)	3mo	$565,000	$162	72
1838 8th Ave	0.43mi	7/3.0 (-1)	3,472 (-8%)	4mo	$494,000	$142	55
1410 13th St	0.60mi	8/6.0	3,936 (+4%)	8mo	$500,000	$127	50
616-622 18th St	0.53mi	8/4.0	3,248 (-14%)	11mo	$735,000	$226	43

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.78×
• Total profit: $-31,193
• Equity at exit: $74,537

10-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-3,080
• Equity at exit: $43,222

Cash invested: $139,972 (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 80631

• Rents YoY: -0.7%
• Active inventory: 180
• Price-to-rent: 31.7×

Monthly cashflow live

• Estimated rent: $5,260 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$300 /mo · $3,595/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,105
• Net cashflow: $1,026

Break-even live

Break-even rent $3,961

Max offer price $499,900

Occupancy floor 75%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,260
Total (4 units)			$5,260

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1851 11th Ave Greeley, CO	7.0	3.0	3758	$3,780	$1.01	23d	1	0.14mi
2001 9th Ave Greeley, CO	7.0	2.5	2840	$3,815	$1.34	23d	1	0.42mi
1921 8th Ave Greeley, CO	8.0	3.0	3031	$4,800	$1.58	23d	1	0.45mi

Listing history 13 events

1. 2026-06-18
   days on market $499,900 Active 17 DOM
2. 2026-06-17
   days on market $499,900 Active 16 DOM
3. 2026-06-16
   days on market $499,900 Active 15 DOM
4. 2026-06-15
   days on market $499,900 Active 14 DOM
5. 2026-06-14
   days on market $499,900 Active 12 DOM
6. 2026-06-10
   days on market $499,900 Active 9 DOM
7. 2026-06-09
   days on market $499,900 Active 8 DOM
8. 2026-06-08
   days on market $499,900 Active 7 DOM
9. 2026-06-07
   remarks 478-char remark
10. 2026-06-07
    days on market $499,900 Active 6 DOM
11. 2026-06-03
    days on market $499,900 Active 2 DOM
12. 2026-06-02
    remarks 475-char remark
13. 2026-06-02
    listed $499,900 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: $3,595 · $300/mo
• Projected year-2 tax: $3,595 · $300/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,120
• − Mortgage interest: −$28,002
• − Property taxes: −$3,595
• − Insurance: −$2,500
• − Repairs & maintenance: −$5,050
• − Management: −$5,050
• − Depreciation: −$14,543
• Taxable income: $4,382
• Est. tax owed @ 24.0%: −$1,052
• After-tax cash flow: $11,261/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: Greeleyschool District No. 6 In The County Of Weld And Sta
• NCES district ID: 0804410
• Math proficiency: 15% ▼ -7.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $46,417
• Composite: 19.99/100
• National rank: #8667
• State rank: #71 of 86 in CO

Livability — Greeley

• Score: 68/100
• State rank: #115
• US rank: #9841

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greeley, CO
• County: Weld County · 332,652 people
• City population: 119,344
• Metro: Greeley, CO
• Population (ZIP): 53,722
• Household income: $54,591
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 3061.0

Population outlook (Weld County) Hauer SSP2

• Today (2025): 351,957 people
• By 2030: 385,304 · +9.5%
• By 2040: 451,818 · +28.4%
• By 2050: 514,478 · +46.2%
• By 2075: 648,733 · +84.3%
• By 2100: 720,400 · +104.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 54% White 39% Two or more races 15% Black 3% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 45%
• Common ancestry: Italian 2% Slovak 2% Portuguese 2%
• Foreign-born: 19% · Canada, Philippines
• Languages at home: 65% English-only · Spanish 33%

Political lean MEDSL · Weld

• 2024 margin: Strong R (+21.0) · D 38.2% · R 59.2% · Other 2.6%
• 2008→2024 swing: -12.2pp toward R · 2008: -8.7pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+18.0 2016: R+22.4 2012: R+13.2 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -329.59%
• Current HPI: 295.4309
• Rent YoY: ▼ -0.65%
• Metro: Greeley, 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

+257.1% since first listed

6 events — show timeline

• 2026-06-01 Listed $499,900 IRES
• 2024-04-10 Rental Removed $925 APPFOLIO
• 2024-04-04 Listed for Rent $925 APPFOLIO
• 2023-08-17 Rental Removed $895 APPFOLIO
• 2023-07-30 Listed for Rent $895 APPFOLIO
• 1996-04-10 Sold (Public Records) $140,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $3,595 · +6.7% YoY. Source: county tax records.