900 Fifteenth St · Georgetown, CO 80444

$65,000

2 bd · 1.0 ba · 784 sqft · Manufactured · 20 Days on market

Built 1965 Poor condition ↓ 4% since listing

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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
• Appreciation +4.5/10.0
• Schools +3.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

Cozy 2-bedroom, 1-bath mobile home offering 950 sq. ft. of comfortable living space in beautiful Georgetown. Enjoy small-town mountain living with an affordable monthly lot rent of just $350. Perfect as a full-time residence, weekend getaway, or investment opportunity.

Key facts

• Built 1965
• Listed 20 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $65k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $925 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.6% vs local median 2.1% in Georgetown — 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 58/100 on livability (#298 in CO) — a working-class tenant base; expect higher turnover. Strengths: crime A+; Watch: commute D, amenities F, employment F.
• Clear Creek School District No. Re-1 (rural): math 31% / reading 40% proficiency, ranked #66 of 176 in CO (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 48 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 23 units permitted in Clear Creek County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $678 of value loss. Plan a longer hold.
• At projected returns (-1.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.81% ✓
• Cap rate: 24.60%
• Cash-on-cash: 65.40%
• DSCR: 3.91
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 61.8%
• Equity multiple: 3.97×
• Total profit: $53,987
• Equity at exit: $15,553

10-year hold

• IRR: 64.8%
• Equity multiple: 8.05×
• Total profit: $128,348
• Equity at exit: $16,215

Cash invested: $18,200 (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 80444

• Home prices YoY: -0.4%
• Active inventory: 48
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,824 high
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $925

Break-even live

Break-even rent $653

Max offer price $65,000

Occupancy floor 44%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1920 Argentine St Georgetown, CO	1.0–2.0	1.0–2.0	680	$1,680	$2.47	1d	6	0.43mi
902 Rose St Georgetown, CO	2.0	1.0	800	$2,400	$3.00	1d	1	0.48mi
1901 Clear Creek Dr Georgetown, CO	1.0	1.0	675	$1,200	$1.78	12d	1	0.53mi
708 Griffith St Georgetown, CO	1.0	1.5	1046	$2,200	$2.10	17d	1	0.58mi
2111 Hummingbird Way Georgetown, CO	2.0	2.0	705	$1,695	$2.40	24d	1	0.60mi
2155 Bighorn Rd Georgetown, CO	2.0	2.0	705	$1,695	$2.40	12d	1	0.67mi

Listing history 13 events

1. 2026-06-18
   days on market $65,000 Active 20 DOM
2. 2026-06-17
   days on market $65,000 Active 19 DOM
3. 2026-06-16
   days on market $65,000 Active 18 DOM
4. 2026-06-15
   days on market $65,000 Active 17 DOM
5. 2026-06-13
   days on market $65,000 Active 15 DOM
6. 2026-06-09
   days on market $65,000 Active 11 DOM
7. 2026-06-08
   days on market $65,000 Active 10 DOM
8. 2026-06-07
   days on market $65,000 Active 9 DOM
9. 2026-06-04
   days on market $65,000 Active 6 DOM
10. 2026-06-03
    days on market $65,000 Active 5 DOM
11. 2026-06-02
    days on market $65,000 Active 4 DOM
12. 2026-06-01
    days on market $65,000 Active 3 DOM
13. 2026-05-31
    days on market $65,000 Active 2 DOM

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 11 d/yr ≥74°F today · 31 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,890
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$1,122
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$1,891
• Taxable income: $10,758
• Est. tax owed @ 24.0%: −$2,582
• After-tax cash flow: $8,523/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates to its exterior, interior, and HVAC systems, significantly impacting its value. Significant investment is needed to bring it up to a livable condition.

Repairs flagged

• Major siding — Severe weathering and damage
• Major roof — General condition suggests potential issues
• Major flooring — Exposed subflooring and debris
• Major interior walls — Painted walls appear old and chipped
• Major kitchen — No visible details, but the overall condition suggests it may need updates
• Major bathrooms — No visible details, but the overall condition suggests it may need updates
• Major HVAC/mechanicals — No visible details, but the overall condition suggests it may need updates
• Major landscaping — Overgrown yard and debris

Value-add opportunities

• Both exterior siding and roof replacement — Improves curb appeal and structural integrity
• Both interior painting and flooring repair — Enhances interior aesthetics and functionality
• Both HVAC system replacement — Improves comfort and energy efficiency
• Both landscaping and curb appeal improvements — Enhances overall property value and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering and damage	Major	$15,000–50,000
roof · General condition suggests potential issues	Major	$15,000–50,000
flooring · Exposed subflooring and debris	Major	$15,000–50,000
interior walls · Painted walls appear old and chipped	Major	$15,000–50,000
kitchen · No visible details, but the overall condition suggests it may need updates	Major	$15,000–50,000
bathrooms · No visible details, but the overall condition suggests it may need updates	Major	$15,000–50,000
HVAC/mechanicals · No visible details, but the overall condition suggests it may need updates	Major	$15,000–50,000
landscaping · Overgrown yard and debris	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both exterior siding and roof replacement — Improves curb appeal and structural integrity ↑
• Both interior painting and flooring repair — Enhances interior aesthetics and functionality ↑
• Both HVAC system replacement — Improves comfort and energy efficiency ↑
• Both landscaping and curb appeal improvements — Enhances overall property value and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Clear Creek School District No. Re-1
• NCES district ID: 0803000
• Math proficiency: 31% ▲ 1.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $64,005
• Composite: 34.69/100
• National rank: #10059
• State rank: #66 of 176 in CO

Livability — Georgetown

• Score: 58/100
• State rank: #298
• US rank: #20957

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Georgetown, CO
• Population (ZIP): 1,082

Population outlook (Clear Creek County) Hauer SSP2

• Today (2025): 10,024 people
• By 2030: 10,223 · +2.0%
• By 2040: 10,303 · +2.8%
• By 2050: 10,183 · +1.6%
• By 2075: 10,420 · +4.0%
• By 2100: 10,233 · +2.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Lithuanian 5% Iranian 2% Romanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 6% Chinese 1%

Political lean MEDSL · Clear Creek

• 2024 margin: D (+16.6) · D 56.8% · R 40.2% · Other 3.0%
• 2008→2024 swing: -1.3pp toward R · 2008: 17.9pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+13.0 2016: D+2.9 2012: D+11.8 2008: D+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.04%
• Current HPI: 288.7655
• Rent YoY: —
• Metro: —
• 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

-4.4% since first listed

3 events — show timeline

• 2026-05-30 Listed $65,000 FSBO.com
• 2026-04-20 Listing Removed — REColorado as Distributed by MLS Grid
• 2026-01-16 Listed $68,000 REColorado as Distributed by MLS Grid