1244 Maple St

Fort Collins, CO 80521

$950,000D-

8 bd · 4.0 ba · 3,456 sqft · Built 1980 · MultiFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,112/mo
• Mortgage (P&I): −$4,982
• Tax + insurance: −$904
• HOA: −$0
• Vac / Maint / Mgmt: −$1,494
• Net cashflow: $-268/mo
• Annual: $-3,215/yr
• Cap rate: 5.95%
• Cash-on-cash: -1.21%
• DSCR: 0.95
• 1% rule: 0.75%
• Cash to close: $266,000

Investor read

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $950k.
• At list price, monthly cash flow is $-268 ($-3k/yr) — negative. Per door: $-67/mo.
• To cash-flow at today's rent, offer at most $903k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $711k (25.1% below list).
• It's been on market 44 days — a 3% lower offer ($922k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $711k (25.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Putnam Elementary School (math 5% / reading 17%, grade F, #879 of 966 statewide, top 94%, 306 students, 88% FRL); Kinard Core Knowledge Middle School (math 61% / reading 77%, grade A, #8 of 270 statewide, top 3%, 748 students, 7% FRL); Poudre High School (math 36% / reading 59%, grade D, #131 of 381 statewide, top 34%, 1,663 students, 38% FRL) — zoned schools average 45% FRL vs 24% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.0%/yr); 117 active listings in the ZIP; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).
• Larimer County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 28y ago; this cycle's ask is 59461% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $613k; list at $950k implies a 55% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% 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.
• At $7,112/mo this rent would consume 147% of the median local household income ($58k/yr) (locally 3630% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.