2500 E Harmony Rd #351 · Fort Collins, CO 80528

$45,900

3 bd · 2.0 ba · 980 sqft · Manufactured · 49 Days on market

Built 2025 Est $76k · 40% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Appreciation +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks

* THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 2 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as a playground, a swimming pool, and a basketball court, your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Swimming pool
• Basketball court
• Playground

Tags

• PLAYGROUND
• SWIMMING POOL
• BASKETBALL COURT

Property features AI

Finance

• Financial info: List price $45,400

Exterior

• Utilities: Natural gas available
• Home design: Condo/Unit (address: 2500 E Harmony Rd #351, Fort Collins, CO 80528); Plan name: 91327; Currently active listing
• Exterior features: Living area approximately 980

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Spec home (new construction inventory type: Spec)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $46k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $46k).
• Recommended offer: $45k (3.0% below list) — sets the bar for market timing.
• Cap rate 44.9% vs local median 2.6% in Fort Collins — 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 80/100 on livability (#11 in CO, #1,750 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• Poudre School District R-1 (urban): math 45% / reading 60% proficiency, ranked #10 of 86 in CO (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.6%/yr); 191 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.4%/yr); year-one equity from $317 of loan paydown is wiped out by about $650 of value loss. Plan a longer hold.
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-1.4% appreciation + 3.6% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($45k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $44,523 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
5. 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.
6. 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: 4.95% ✓
• Cap rate: 44.93%
• Cash-on-cash: 138.00%
• DSCR: 7.14
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $76,440
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2500 E Harmony Rd #456	0.00mi	2/1.0 (-1)	924 (-6%)	2mo	$55,000	$60	80
2500 E Harmony Rd #104	0.00mi	3/2.0	1,038 (+6%)	22mo	$81,000	$78	72
2500 E Harmony Rd #19	0.00mi	2/2.0 (-1)	876 (-11%)	18mo	$82,000	$94	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.42% appreciation · 3.6% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.10×
• Total profit: $91,240
• Equity at exit: $10,170

10-year hold

• IRR: —
• Equity multiple: 17.29×
• Total profit: $209,411
• Equity at exit: $9,922

Cash invested: $12,852 (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 80528

• Home prices YoY: -0.6%
• Rents YoY: 3.6%
• Active inventory: 191
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,272 high
• Mortgage (P&I): −$241
• Tax est. 1.5%: −$57 /mo · $688/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $1,478

Break-even live

Break-even rent $402

Max offer price $45,900

Occupancy floor 30%

Sensitivity live

Price	-10% $1,510	-5% $1,494	+0% $1,478	+5% $1,462	+10% $1,446
Rent	-10% $1,299	-5% $1,388	+0% $1,478	+5% $1,568	+10% $1,658
Rate	-1.0pp $1,501	-0.5pp $1,490	base $1,478	+0.5pp $1,466	+1.0pp $1,454

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2921 Timberwood Dr Fort Collins, CO	2.0–3.0	2.0	1048	$1,920	$1.83	15d	3	0.61mi
2002 Battlecreek Dr Fort Collins, CO	1.0–2.0	1.0–2.0	929	$2,265	$2.44	15d	15	0.88mi
5225 White Willow Dr Fort Collins, CO	2.0	2.0	1003	$1,940	$1.93	15d	1	1.00mi
4545 Wheaton Dr Fort Collins, CO	1.0–3.0	1.0–2.0	903	$2,200	$2.44	15d	5	1.21mi
2212 Vermont Dr Fort Collins, CO	1.0–2.0	1.0–2.0	852	$2,089	$2.45	15d	7	1.31mi
4470 S Lemay Ave Fort Collins, CO	1.0–2.0	1.0–2.0	870	$2,229	$2.56	15d	10	1.35mi
3465 Lochwood Dr Unit J39 Fort Collins, CO	2.0	1.5	1057	$1,795	$1.70	15d	1	1.44mi

Listing history 15 events

1. 2026-06-21
   days on market $45,900 Active 49 DOM
2. 2026-06-18
   days on market $45,900 Active 46 DOM
3. 2026-06-17
   days on market $45,900 Active 45 DOM
4. 2026-06-16
   days on market $45,900 Active 44 DOM
5. 2026-06-15
   days on market $45,900 Active 43 DOM
6. 2026-06-14
   days on market $45,900 Active 41 DOM
7. 2026-06-10
   days on market $45,900 Active 38 DOM
8. 2026-06-09
   days on market $45,900 Active 37 DOM
9. 2026-06-08
   days on market $45,900 Active 36 DOM
10. 2026-06-07
    days on market $45,900 Active 35 DOM
11. 2026-06-03
    days on market $45,900 Active 31 DOM
12. 2026-06-02
    days on market $45,900 Active 30 DOM
13. 2026-06-01
    pricedays on market $45,900 Active 29 DOM
14. 2026-05-31
    days on market $45,400 Active 28 DOM
15. 2026-05-30
    days on market $45,400 Active 27 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,269
• − Mortgage interest: −$2,571
• − Property taxes: −$688
• − Insurance: −$230
• − Repairs & maintenance: −$2,182
• − Management: −$2,182
• − Depreciation: −$1,335
• Taxable income: $18,082
• Est. tax owed @ 24.0%: −$4,340
• After-tax cash flow: $13,397/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: Poudre School District R-1
• NCES district ID: 0803990
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 60% ▼ -2.00%
• Median HH income: $57,281
• Composite: 45.5/100
• National rank: #2610
• State rank: #10 of 86 in CO

Livability — Fort Collins

• Score: 80/100
• State rank: #11
• US rank: #1750

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Collins, CO
• County: Larimer County · 338,255 people
• City population: 202,303
• Metro: Fort Collins, CO
• Population (ZIP): 24,960
• Household income: $130,350
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 378.0

Population outlook (Larimer County) Hauer SSP2

• Today (2025): 415,361 people
• By 2030: 457,762 · +10.2%
• By 2040: 542,310 · +30.6%
• By 2050: 627,048 · +51.0%
• By 2075: 833,722 · +100.7%
• By 2100: 952,590 · +129.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 12% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 3% Romanian 3%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 86% English-only · Spanish 4% Other Indo-European 4% Chinese 1%

Political lean MEDSL · Larimer

• 2024 margin: D (+17.6) · D 57.4% · R 39.8% · Other 2.9%
• 2008→2024 swing: +7.9pp toward D · 2008: 9.7pp · 2024: 17.6pp
• All cycles: 2024: D+17.6 2020: D+15.4 2016: D+4.9 2012: D+5.2 2008: D+9.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.42%
• Current HPI: 244.4061
• Rent YoY: ▲ 3.60%
• Metro: Fort Collins, 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