2 Mulberry Way · Durango, CO 81301

$128,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 66 Days on market

Built 1996 Est $134k · 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 +9.4/15.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is an affordable home in Durango . Lot rent only $640 per month and that includes water, sewer, trash pick up and snow removal. Where can you live in Durango for that price? This home features 3 bedrooms and 2 full baths. Huge eat in Kitchen and large living room . Master bedroom with master bath with walk in Ceramic shower. Eat in Kitchen with newer appliances. Fenced yard perfect for your pets. Washer and Dryer. Shed. Call today to see this home! Buyer to be approved with pet friendly mobile home park.

Key facts

• New window coverings
• Private park access
• Fully fenced yard

Tags

• UPDATED INTERIOR PAINT
• NEW WINDOW COVERINGS
• FULLY FENCED YARD
• EXTRA LARGE STORAGE SHED
• BUILT-IN WORKBENCH
• PRIVATE PARK ACCESS

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Park nearby

Exterior

• Utilities: Electricity available; Natural gas available; High-speed internet available; Public sewer; Well water
• Home design: Single-family residential; Single-story
• Construction: Skirt foundation
• Exterior features: Deck; Landscaped yard; Shed(s); Back yard fencing; Paved road access; Has view

Interior

• Kitchen: Oven; Range; Dishwasher; Disposal; Refrigerator; Kitchen island; Breakfast bar; Eat-in kitchen; Kitchen/dining combo
• Flooring: Partially carpeted; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Radiant floor heating; Has heating
• Interior features: Window coverings and window treatments; Breakfast bar; Ceiling fan(s); Eat-in kitchen; Kitchen island; Kitchen/dining combo; Walk-in closet(s)
• Laundry & utility: Washer hookup; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $128k.

Deal economics

• At list price, monthly cash flow is $912 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $120k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 1.1% in Durango — 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 (#106 in CO) — a middle-class / working-renter tenant base. Strengths: amenities A-, schools B+, employment B+; Watch: commute F, cost of living F.
• Durango School District No. 9-R (town): math 27% / reading 49% proficiency, ranked #30 of 86 in CO (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 580 active listings in the ZIP; solid renter incomes; 306 units permitted in La Plata County in 2024 (93 in 5+ unit buildings).
• This rent runs 33% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• La Plata County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $7k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $128k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $120,320 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
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: 1.78% ✓
• Cap rate: 14.84%
• Cash-on-cash: 30.52%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $133,760
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 Lomas Dr	0.15mi	3/2.0	1,216 (0%)	6mo	$114,700	$94	88
1 Lomas Dr	0.11mi	3/2.0	1,224 (+1%)	16mo	$90,000	$74	81
32222 Highway 550 #37	0.42mi	3/2.0	1,216 (0%)	2mo	$85,000	$70	79
5 Raspberry Cir	0.05mi	2/2.0 (-1)	1,210 (-0%)	22mo	$170,000	$140	74
27 Raspberry	0.02mi	3/2.0	1,344 (+10%)	12mo	$124,500	$93	72
13 Palomino Dr	0.07mi	2/3.0 (-1)	1,056 (-13%)	1mo	$100,000	$95	65
8124 County Road 203 Unit L	0.61mi	3/2.0	1,152 (-5%)	0mo	$174,750	$152	63
32222 Highway 550 #10	0.42mi	3/2.0	1,096 (-10%)	14mo	$128,900	$118	52
8124 County Road 203 Unit B	0.59mi	3/2.0	1,296 (+7%)	20mo	$149,000	$115	45
8124 County Road 203 Unit K	0.60mi	2/2.0 (-1)	1,050 (-14%)	1mo	$115,000	$110	44
32222 N Highway 550 #9	0.42mi	3/2.0	1,038 (-15%)	20mo	$125,000	$120	39

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 · 2.94% rent growth · sell at horizon

5-year hold

• IRR: 25.2%
• Equity multiple: 2.04×
• Total profit: $37,216
• Equity at exit: $19,085

10-year hold

• IRR: 32.9%
• Equity multiple: 3.98×
• Total profit: $106,747
• Equity at exit: $11,067

Cash invested: $35,840 (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 81301

• Rents YoY: 2.9%
• Active inventory: 580
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,274 medium
• Mortgage (P&I): −$671
• Tax est. 1.5%: −$160 /mo · $1,920/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $912

Break-even live

Break-even rent $1,120

Max offer price $128,000

Occupancy floor 55%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $128,000 Active 66 DOM
2. 2026-06-18
   days on market $128,000 Active 65 DOM
3. 2026-06-17
   days on market $128,000 Active 64 DOM
4. 2026-06-16
   days on market $128,000 Active 63 DOM
5. 2026-06-15
   days on market $128,000 Active 62 DOM
6. 2026-06-14
   days on market $128,000 Active 60 DOM
7. 2026-06-12
   days on market $128,000 Active 59 DOM
8. 2026-06-09
   days on market $128,000 Active 56 DOM
9. 2026-06-08
   days on market $128,000 Active 55 DOM
10. 2026-06-07
    days on market $128,000 Active 54 DOM
11. 2026-06-05
    days on market $128,000 Active 51 DOM
12. 2026-06-03
    days on market $128,000 Active 50 DOM
13. 2026-06-02
    days on market $128,000 Active 49 DOM
14. 2026-06-01
    days on market $128,000 Active 48 DOM
15. 2026-05-31
    days on market $128,000 Active 47 DOM
16. 2026-05-30
    days on market $128,000 Active 46 DOM
17. 2026-05-19
    price $128,000
18. 2026-04-14
    listed $135,000 Active
19. 2018-10-15
    soldstatus $46,101 514-char remark

    Show marketing remark (514 chars)

    This is an affordable home in Durango . Lot rent only $640 per month and that includes water, sewer, trash pick up and snow removal. Where can you live in Durango for that price? This home features 3 bedrooms and 2 full baths. Huge eat in Kitchen and large living room . Master bedroom with master bath with walk in Ceramic shower. Eat in Kitchen with newer appliances. Fenced yard perfect for your pets. Washer and Dryer. Shed. Call today to see this home! Buyer to be approved with pet friendly mobile home park.

20. 2018-09-19
    listed $47,900 514-char remark

    Show marketing remark (514 chars)

    This is an affordable home in Durango . Lot rent only $640 per month and that includes water, sewer, trash pick up and snow removal. Where can you live in Durango for that price? This home features 3 bedrooms and 2 full baths. Huge eat in Kitchen and large living room . Master bedroom with master bath with walk in Ceramic shower. Eat in Kitchen with newer appliances. Fenced yard perfect for your pets. Washer and Dryer. Shed. Call today to see this home! Buyer to be approved with pet friendly mobile home park.

21. 2017-10-06
    soldstatus $32,500 395-char remark

    Show marketing remark (395 chars)

    This mobile home features 3 bedrooms and 2 full baths. Eat In Kitchen with new appliances. Washer and Dryer. Huge Master Bath Fenced yard perfect for pets. Deck. Great views of the Red Cliffs. Immediate possession. Easy to show . Call Today to see this home. Lot rent $600 per month which includes water, sewer, trash and snow removal. Buyer to be approved with Durango Regency Mobile Home Park.

22. 2017-09-18
    listed $35,900 395-char remark

    Show marketing remark (395 chars)

    This mobile home features 3 bedrooms and 2 full baths. Eat In Kitchen with new appliances. Washer and Dryer. Huge Master Bath Fenced yard perfect for pets. Deck. Great views of the Red Cliffs. Immediate possession. Easy to show . Call Today to see this home. Lot rent $600 per month which includes water, sewer, trash and snow removal. Buyer to be approved with Durango Regency Mobile Home Park.

ⓘ 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 6/10 Major
• 🌡 Heat 2/10 Low 10 d/yr ≥85°F today · 26 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,284
• − Mortgage interest: −$7,170
• − Property taxes: −$1,920
• − Insurance: −$640
• − Repairs & maintenance: −$2,183
• − Management: −$2,183
• − Depreciation: −$3,724
• Taxable income: $9,465
• Est. tax owed @ 24.0%: −$2,272
• After-tax cash flow: $8,668/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: Durango School District No. 9-R
• NCES district ID: 0803480
• Math proficiency: 27% ▼ -4.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $58,711
• Composite: 33.58/100
• National rank: #5420
• State rank: #30 of 86 in CO

Livability — Durango

• Score: 68/100
• State rank: #106
• US rank: #9262

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: La Plata County · 40,010 people
• City population: 29,774
• Metro: Durango, CO
• Population (ZIP): 29,774
• Household income: $83,943
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1194.0

Population outlook (La Plata County) Hauer SSP2

• Today (2025): 62,781 people
• By 2030: 66,492 · +5.9%
• By 2040: 72,944 · +16.2%
• By 2050: 78,543 · +25.1%
• By 2075: 89,403 · +42.4%
• By 2100: 94,984 · +51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 8% Two or more races 7% Native American 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 4% Italian 3% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · La Plata

• 2024 margin: D (+18.6) · D 58.0% · R 39.3% · Other 2.8%
• 2008→2024 swing: +2.4pp toward D · 2008: 16.3pp · 2024: 18.6pp
• All cycles: 2024: D+18.6 2020: D+17.7 2016: D+9.2 2012: D+8.8 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -651.69%
• Current HPI: 223.832
• Rent YoY: ▲ 2.94%
• Metro: Durango, 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

+256.5% since first listed

6 events — show timeline

• 2026-05-19 Price Changed $128,000 cren
• 2026-04-14 Listed $135,000 cren
• 2018-10-15 Sold (MLS) $46,101 cren
• 2018-09-19 Listed $47,900 cren
• 2017-10-06 Sold (MLS) $32,500 cren
• 2017-09-18 Listed $35,900 cren

Property tax history

+9.7%/yr

Latest (2025): $224 · +344.1% YoY. Source: county tax records.