4412 E Mulberry St #294 · Fort Collins, CO 80524

$79,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 11 Days on market

Built 1995 Est $98k · 20% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Completely Remodeled & Move-In Ready! Recent upgrades include:Brand-new roofNew windowsNew flooring throughoutFresh interior paintFresh exterior paintFully remodeled kitchenNew countertopsNew sinkNew stoveNew range hood/fanNewer dishwasherRemodeled bathroomsSmart toilet in primary bathroomTwo brand-new modern fireplacesModern light fixtures throughoutNew front deckNew back deckWasher & dryer includedThis turnkey home combines modern style, comfort, and peace of mind with extensive updates already completed. Ready for its next owner!

Key facts

• Brand new roof
• New flooring
• Fresh interior paint

Tags

• BRAND NEW ROOF
• NEW WINDOWS
• NEW FLOORING
• FRESH INTERIOR PAINT
• FRESH EXTERIOR PAINT
• FULLY REMODELED KITCHEN

Property features AI

Finance

• Other: Builder: ALWW
• Financial info: Annual taxes listed separately
• HOA & community: No association fees reported

Exterior

• Parking: No garage; No dedicated parking features
• Utilities: Water meter installed; No water rights
• Home design: Manufactured in-park home; Mobile home
• Construction: Vinyl siding; Composition roof
• Exterior features: Located in a manufactured home park

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Evaporative cooling
• Interior features: Fire alarm; Open, functional layout
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Cap rate 28.2% 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,786 units permitted in Larimer County in 2024 (402 in 5+ unit buildings).
• This rent runs 34% of the median local income ($85k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $79,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 3.08% ✓
• Cap rate: 28.19%
• Cash-on-cash: 78.22%
• DSCR: 4.48
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $98,496
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4412 E Mulberry St #259	0.00mi	3/2.0	1,216 (0%)	13mo	$78,500	$65	90
4412 E Mulberry St #148	0.00mi	3/2.0	1,216 (0%)	21mo	$98,000	$81	82
4412 E Mulberry St #367	0.00mi	2/2.0 (-1)	1,069 (-12%)	3mo	$50,000	$47	72
4412 E Mulberry St #285	0.00mi	3/2.0	1,140 (-6%)	24mo	$70,000	$61	70
938 Pleasure Dr	0.58mi	2/2.0 (-1)	1,232 (+1%)	10mo	$184,500	$150	58
961 Sunchase Dr	0.63mi	2/2.0 (-1)	1,352 (+11%)	2mo	$205,000	$152	45

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

Projected returns pro-forma

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

5-year hold

• IRR: 79.5%
• Equity multiple: 4.70×
• Total profit: $81,824
• Equity at exit: $11,779

10-year hold

• IRR: 83.3%
• Equity multiple: 10.10×
• Total profit: $201,226
• Equity at exit: $6,830

Cash invested: $22,120 (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: 2.7×

Monthly cashflow live

• Estimated rent: $2,432 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$32 /mo · $389/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $1,442

Break-even live

Break-even rent $607

Max offer price $79,000

Occupancy floor 36%

Sensitivity live

Price	-10% $1,487	-5% $1,464	+0% $1,442	+5% $1,419	+10% $1,397
Rent	-10% $1,250	-5% $1,346	+0% $1,442	+5% $1,538	+10% $1,634
Rate	-1.0pp $1,482	-0.5pp $1,462	base $1,442	+0.5pp $1,421	+1.0pp $1,401

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
802 Waterglen Dr Fort Collins, CO	3.0	2.5	1285	$2,075	$1.61	24d	2	0.94mi
3210 Sykes Dr Fort Collins, CO	3.0	2.5	1485	$2,700	$1.82	14d	1	1.35mi

Listing history 7 events

1. 2026-06-21
   days on market $79,000 Active 11 DOM
2. 2026-06-18
   days on market $79,000 Active 8 DOM
3. 2026-06-17
   days on market $79,000 Active 7 DOM
4. 2026-06-16
   days on market $79,000 Active 6 DOM
5. 2026-06-15
   days on market $79,000 Active 5 DOM
6. 2026-06-14
   remarks 542-char remark
7. 2026-06-14
   listed $79,000 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CO · Resets to sale price

• Current annual tax: $389 · $32/mo
• Projected year-2 tax: $434 · $36/mo
• Expected delta: +$45/yr (+$4/mo · 11.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $29,187
• − Mortgage interest: −$4,425
• − Property taxes: −$389
• − Insurance: −$395
• − Repairs & maintenance: −$2,335
• − Management: −$2,335
• − Depreciation: −$2,298
• Taxable income: $17,010
• Est. tax owed @ 24.0%: −$4,082
• After-tax cash flow: $13,220/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

• 2026-06-10 Listed $79,000 IRES

Property tax history

+6.4%/yr

Latest (2025): $389 · +300.6% YoY. Source: county tax records.