411 S Court St S #2 · Fort Collins, CO 80524

$60,000

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 52 Days on market

Built 1974

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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 +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for an investor or a first time home buyer focused on savings and willing to put some TLC into a home! Right off of Mulberry in one of the most personable and private parks, this home has just recently gotten fresh paint, new carpet, and bathroom grout!

Key facts

• Bathroom grout
• Fresh paint
• New carpet

Tags

• FRESH PAINT
• NEW CARPET
• BATHROOM GROUT
• PRIVATE PARKS

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: No garage; No designated parking
• Utilities: Water meter installed; No water rights
• Home design: Manufactured in park; Mobile home
• Construction: Vinyl siding; Metal roof

Interior

• Kitchen: Self-cleaning oven; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Self-cleaning oven; Dishwasher; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $941 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.1% 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 fast (+4.1%/yr); 422 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k 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 (-3.0% appreciation + 4.1% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($58k) 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 $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.86% ✓
• Cap rate: 25.11%
• Cash-on-cash: 67.20%
• DSCR: 3.99
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.13% rent growth · sell at horizon

5-year hold

• IRR: 67.8%
• Equity multiple: 4.11×
• Total profit: $52,199
• Equity at exit: $8,946

10-year hold

• IRR: 72.3%
• Equity multiple: 8.80×
• Total profit: $131,004
• Equity at exit: $5,188

Cash invested: $16,800 (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 80524

• Rents YoY: 4.1%
• Active inventory: 422
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,716 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $941

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 40%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1425 Riverside Ave Unit A Fort Collins, CO	2.0	1.0	550	$1,400	$2.55	23d	1	0.69mi
1200 Duff Dr Fort Collins, CO	1.0–3.0	1.0–2.0	1060	$2,546	$2.40	14d	72	0.70mi
1201 Montgomery St #741 Fort Collins, CO	3.0	1.0	810	$1,595	$1.97	14d	1	0.77mi
1108 Baker St Unit C Fort Collins, CO	2.0	1.0	1000	$1,275	$1.27	23d	1	0.77mi
624 Endicott St Fort Collins, CO	2.0	1.0	900	$1,750	$1.94	23d	1	0.86mi
1001 Robertson St Fort Collins, CO	1.0–2.0	1.0	610	$1,495	$2.45	14d	4	0.90mi
1005 Robertson St Fort Collins, CO	1.0–2.0	1.0	610	$1,395	$2.29	14d	3	0.92mi
1000 Morgan St Fort Collins, CO	1.0	1.0	647	$1,395	$2.16	14d	1	0.95mi
523 Cowan St Fort Collins, CO	1.0	1.0	1020	$1,950	$1.91	23d	1	0.97mi
612 9th St Fort Collins, CO	2.0	1.0	896	$1,800	$2.01	23d	1	1.00mi
1672 Riverside Ave Apt B214 Fort Collins, CO	2.0	2.0	864	$1,400	$1.62	23d	1	1.12mi
1672 Riverside Ave Fort Collins, CO	2.0	2.0	864	$1,400	$1.62	14d	3	1.13mi
1684 Riverside Ave Fort Collins, CO	2.0	1.0	702	$1,495	$2.13	14d	1	1.18mi
801 Smith St Fort Collins, CO	2.0	1.0	576	$1,845	$3.20	14d	1	1.23mi
301 Peterson St Fort Collins, CO	2.0	1.0	817	$1,692	$2.07	14d	2	1.33mi
1717 Welch St Fort Collins, CO	2.0–3.0	1.0–2.0	976	$1,497	$1.53	14d	7	1.34mi
331 E Magnolia St Fort Collins, CO	2.0	1.0	760	$1,475	$1.94	23d	1	1.35mi
634 Mathews St Fort Collins, CO	1.0–2.0	1.0	610	$1,495	$2.45	14d	3	1.43mi
634 Mathews St Unit B6 Fort Collins, CO	1.0	1.0	545	$1,420	$2.61	23d	1	1.44mi
327 Mathews St Fort Collins, CO	1.0	1.0	545	$1,395	$2.56	23d	1	1.44mi
217 E Oak St Fort Collins, CO	1.0	1.0	925	$1,395	$1.51	23d	1	1.47mi
221 E Mountain Ave #315 Fort Collins, CO	1.0	1.5	781	$2,600	$3.33	23d	1	1.48mi

Listing history 15 events

1. 2026-06-18
   days on market $60,000 Active 52 DOM
2. 2026-06-17
   days on market $60,000 Active 51 DOM
3. 2026-06-16
   days on market $60,000 Active 50 DOM
4. 2026-06-15
   days on market $60,000 Active 49 DOM
5. 2026-06-14
   days on market $60,000 Active 47 DOM
6. 2026-06-10
   days on market $60,000 Active 44 DOM
7. 2026-06-09
   days on market $60,000 Active 43 DOM
8. 2026-06-08
   days on market $60,000 Active 42 DOM
9. 2026-06-07
   days on market $60,000 Active 41 DOM
10. 2026-06-03
    days on market $60,000 Active 37 DOM
11. 2026-06-02
    days on market $60,000 Active 36 DOM
12. 2026-06-01
    days on market $60,000 Active 35 DOM
13. 2026-05-31
    days on market $60,000 Active 34 DOM
14. 2026-05-30
    days on market $60,000 Active 33 DOM
15. 2026-04-27
    listed $60,000 Active

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,590
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$1,745
• Taxable income: $10,989
• Est. tax owed @ 24.0%: −$2,637
• After-tax cash flow: $8,653/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

• County: Larimer County · 338,255 people
• City population: 202,303
• Metro: Fort Collins, CO
• Population (ZIP): 40,030
• Household income: $85,035
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1860.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 17% Two or more races 11% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Slovak 3% Portuguese 3% Italian 3%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% German/W. Germanic 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: ▼ -581.67%
• Current HPI: 274.4026
• Rent YoY: ▲ 4.13%
• 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

Price history

1 event — show timeline

• 2026-04-27 Listed $60,000 IRES

Property tax history

+3.0%/yr

Latest (2021): $31 · -0.8% YoY. Source: county tax records.