227 N Lincoln Ave #1

Nunn, CO 80648

$165,000B+

3 bd · 2.0 ba · 1,170 sqft · Built 2026 · Manufactured · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,267/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$275
• HOA: −$0
• Vac / Maint / Mgmt: −$476
• Net cashflow: $651/mo
• Annual: $7,810/yr
• Cap rate: 11.03%
• Cash-on-cash: 16.91%
• DSCR: 1.75
• 1% rule: 1.37%
• Cash to close: $46,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $165k. Condition is rated good.
• At list price, monthly cash flow is $651 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• It's been on market 30 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Location reads 52/100 on livability (#381 in CO) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: crime F, amenities F, commute F.
• Weld County School District No. Re-9 (rural): math 25% / reading 30% proficiency, ranked #117 of 176 in CO (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Highland Elementary School (math 10% / reading 34%, grade F, #651 of 966 statewide, top 68%, 473 students, 41% FRL); Highland High School (math 24% / reading 54%, grade F, #176 of 381 statewide, top 49%, 285 students, 38% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 39 active listings in the ZIP; 3,170 units permitted in Weld County in 2024 (278 in 5+ unit buildings).
• Weld County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.
• 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.
• 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.