5000 Butte St Lot 267 · Boulder, CO 80301

$84,000

2 bd · 1.0 ba · 798 sqft · Manufactured public records · 28 Days on market

Built 1973

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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 +7.5/15.0
• Schools +5.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your next home! This well-maintained 2-bedroom, 1-bath mobile home features new flooring, an abundance of natural light through a large bay window, and updated appliances. Enjoy outdoor living with mountain views, two porches (one covered), a concrete patio, private two-car driveway, large storage shed, and a spacious fenced yard with garden beds ready for planting. This large and unique lot has a neighbor on only one side! You just cannot find something like this in an MHP in Boulder at this price! Located in the most tranquil MHP community in Boulder with convenient access to nearby amenities, shopping, bike paths and parks, this home is perfect for first-time buyers, downsize

Key facts

• Updated appliances
• Concrete patio
• Two porches

Tags

• MOUNTAIN VIEWS
• LARGE BAY WINDOW
• UPDATED APPLIANCES
• TWO PORCHES
• CONCRETE PATIO
• PRIVATE TWO-CAR DRIVEWAY

Property features AI

Exterior

• Home design: Built in 1973
• Construction: Built in 1973
• Exterior features: Located in the Vista Village subdivision

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Interior features: Deck; Patio; Porch

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $84k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $84k).
• Recommended offer: $83k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.5% vs local median 1.7% in Boulder — 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 77/100 on livability (#24 in CO, #2,958 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D+, cost of living F.
• Boulder Valley School District No. Re2 (urban): math 49% / reading 67% proficiency, ranked #6 of 86 in CO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-2.3%/yr); 185 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,688 units permitted in Boulder County in 2024 (1,136 in 5+ unit buildings).
• This rent runs 32% of the median local income ($95k/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 $581 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Boulder County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $84k implies a 600% 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 $82,740 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
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: 3.00% ✓
• Cap rate: 26.45%
• Cash-on-cash: 72.00%
• DSCR: 4.20
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $44,688
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5505 Valmont Rd #208	0.61mi	2/1.0	720 (-10%)	23mo	$40,000	$56	36

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: 68.2%
• Equity multiple: 3.93×
• Total profit: $68,922
• Equity at exit: $12,525

10-year hold

• IRR: 71.5%
• Equity multiple: 7.27×
• Total profit: $147,356
• Equity at exit: $7,263

Cash invested: $23,520 (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 80301

• Rents YoY: -2.3%
• Active inventory: 185
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,521 high
• Mortgage (P&I): −$441
• Tax est. 1.5%: −$105 /mo · $1,260/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $1,411

Break-even live

Break-even rent $735

Max offer price $84,000

Occupancy floor 39%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3045 Kings Ridge Blvd Unit 1 Boulder, CO	2.0	1.0	950	$1,875	$1.97	21d	1	0.31mi
3073 Fulton Cir Boulder, CO	2.0	1.5	1032	$2,403	$2.33	13d	1	0.34mi
3485 Hayden Pl Unit 3 Boulder, CO	2.0	1.5	785	$2,495	$3.18	21d	1	0.65mi
3715 Canfield St Boulder, CO	2.0	1.0–2.0	827	$2,576	$3.11	13d	24	0.68mi
3303 Bluff St Boulder, CO	3.0	1.0–2.5	1131	$3,789	$3.35	13d	38	0.81mi
3315 Chisholm Trl Unit 1546453P Boulder, CO	2.0	1.0	861	$2,639	$3.07	13d	1	0.82mi
3120 Corona Trl #209 Boulder, CO	2.0	2.0	966	$2,650	$2.74	21d	1	0.85mi
3150 Iris Ave Unit F309 Boulder, CO	1.0	1.0	676	$1,595	$2.36	21d	1	0.88mi
2530 Junction Pl Boulder, CO	1.0–3.0	1.0–3.5	1204	$3,416	$2.84	13d	69	0.88mi
2995 Eagle Way Boulder, CO	2.0	1.0–1.5	639	$1,845	$2.89	21d	1	0.96mi
2995 Glenwood Dr Boulder, CO	1.0–2.0	1.0–1.5	807	$2,136	$2.65	13d	17	0.97mi
3100 Pearl St Boulder, CO	2.0	1.0–2.0	849	$3,875	$4.56	13d	23	1.07mi
3000 Pearl Pkwy Boulder, CO	2.0	1.0–2.0	1249	$3,936	$3.15	13d	19	1.14mi
2820 Hibiscus AVE Boulder, CO	3.0	1.0–2.5	1010	$3,678	$3.64	13d	91	1.16mi
2850 Kalmia Ave Boulder, CO	1.0–2.0	1.0–2.0	850	$2,795	$3.29	13d	4	1.19mi
2800 Kalmia Ave Boulder, CO	2.0	1.5–2.0	880	$2,150	$2.44	21d	2	1.21mi
3487 28th St #21 Boulder, CO	2.0	1.5	936	$2,600	$2.78	21d	1	1.27mi
2747 Glenwood Ct Boulder, CO	2.0	1.5	1000	$1,850	$1.85	13d	1	1.28mi
3545 28th St #308 Boulder, CO	2.0	2.0	838	$2,950	$3.52	21d	1	1.30mi
2707 Valmont Rd Boulder, CO	1.0–2.0	1.0	684	$2,200	$3.22	21d	6	1.31mi
1590 Eisenhower Dr Boulder, CO	3.0	1.0–3.0	937	$3,724	$3.97	13d	20	1.33mi
4970 Meredith Way Boulder, CO	1.0–2.0	1.0–2.0	836	$2,717	$3.25	13d	15	1.36mi
3401 Arapahoe Ave Boulder, CO	1.0	1.0	871	$3,995	$4.58	13d	1	1.38mi
2625 Tabriz Pl Boulder, CO	3.0	1.0	1097	$3,600	$3.28	21d	1	1.40mi
3725 Birchwood Dr #23 Boulder, CO	2.0	1.5	1114	$2,295	$2.06	21d	1	1.40mi
2606 Juniper Ave Unit 34-1 Boulder, CO	1.0	1.0	548	$1,325	$2.42	13d	1	1.44mi

Listing history 12 events

1. 2026-06-09
   days on market $84,000 Active 28 DOM
2. 2026-06-07
   days on market $84,000 Active 27 DOM
3. 2026-06-05
   days on market $84,000 Active 24 DOM
4. 2026-06-03
   days on market $84,000 Active 23 DOM
5. 2026-06-02
   days on market $84,000 Active 22 DOM
6. 2026-06-01
   days on market $84,000 Active 21 DOM
7. 2026-05-31
   days on market $84,000 Active 20 DOM
8. 2026-05-30
   days on market $84,000 Active 19 DOM
9. 2026-05-22
   price $84,000
10. 2026-05-10
    listed $89,000 Active
11. 1997-06-06
    soldstatus $12,000
12. 1993-05-19
    soldstatus $12,000

ⓘ 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 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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,255
• − Mortgage interest: −$4,705
• − Property taxes: −$1,260
• − Insurance: −$420
• − Repairs & maintenance: −$2,420
• − Management: −$2,420
• − Depreciation: −$2,444
• Taxable income: $16,585
• Est. tax owed @ 24.0%: −$3,980
• After-tax cash flow: $12,955/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: Boulder Valley School District No. Re2
• NCES district ID: 0802490
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 67% ▲ 4.00%
• Median HH income: $70,395
• Composite: 51.3/100
• National rank: #1747
• State rank: #6 of 86 in CO

Livability — Boulder

• Score: 77/100
• State rank: #24
• US rank: #2958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boulder, CO
• County: Boulder County · 271,666 people
• City population: 121,246
• Metro: Boulder, CO
• Population (ZIP): 25,007
• Household income: $95,207
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1296.0

Population outlook (Boulder County) Hauer SSP2

• Today (2025): 380,833 people
• By 2030: 412,028 · +8.2%
• By 2040: 472,764 · +24.1%
• By 2050: 532,029 · +39.7%
• By 2075: 679,723 · +78.5%
• By 2100: 766,278 · +101.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 11% Hispanic / Latino 11% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Boulder

• 2024 margin: Solid D (+55.8) · D 76.5% · R 20.8% · Other 2.7%
• 2008→2024 swing: +9.6pp toward D · 2008: 46.1pp · 2024: 55.8pp
• All cycles: 2024: D+55.8 2020: D+56.6 2016: D+48.6 2012: D+41.5 2008: D+46.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -674.67%
• Current HPI: 286.4092
• Rent YoY: ▼ -2.27%
• Metro: Boulder, 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

+600.0% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $84,000 FSBO.com
• 2026-05-10 Listed $89,000 FSBO.com
• 1997-06-06 Sold (Public Records) $12,000 Public Records
• 1993-05-19 Sold (Public Records) $12,000 Public Records

Property tax history

+8.6%/yr

Latest (2021): $110 · +4.8% YoY. Source: county tax records.