4101 Wapiti Way · Evans, CO 80620

$137,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured · 51 Days on market

Built 2002 Good condition Est $130k · 5% over

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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 +5.1/15.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.1/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Impeccably maintained home with an open, light-filled floor plan. Features include textured walls, bullnose corners, and arched entryways. Updated laminate flooring and plush carpet throughout. Well-appointed kitchen with newer gas range, hood, and ample cabinet and counter space. Spacious primary suite with walk-in closet and 5-piece bath, plus two additional bedrooms and a full bathroom. Located just a short walk to the clubhouse, park, and pool, with access to Cave Creek amenities including a basketball court and dog park.

Key facts

• Open floor plan
• Textured walls
• Bullnose corners

Tags

• OPEN FLOOR PLAN
• TEXTURED WALLS
• BULLNOSE CORNERS
• ARCHED ENTRYWAYS
• UPDATED LAMINATE FLOORING
• WELL-APPOINTED KITCHEN

Property features AI

Finance

• Financial info: Annual tax information available
• HOA & community: No association fees or transfer fees reported

Exterior

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

Interior

• Kitchen: Self-cleaning oven; Dishwasher; Refrigerator; Microwave
• Bedrooms: 3 bedrooms (all conforming)
• Heating & cooling: Forced air heating
• Interior features: Window coverings; Self-cleaning oven; Dishwasher; Refrigerator; Microwave; Forced air heating

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $137k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $693 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Recommended offer: $133k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 3.8% in Evans — 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 69/100 on livability (#104 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+; Watch: crime C-, schools F, amenities F.
• Greeleyschool District No. 6 In The County Of Weld And Sta (urban): math 15% / reading 31% proficiency, ranked #71 of 86 in CO (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-1.8%/yr); 120 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 3,170 units permitted in Weld County in 2024 (278 in 5+ unit buildings).
• This rent runs 34% of the median local income ($74k/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 $947 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Weld County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago 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.
• Current owner paid $92k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $132,890 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.51% ✓
• Cap rate: 12.36%
• Cash-on-cash: 21.67%
• DSCR: 1.96
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $130,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4130 Mesquite Ln	0.06mi	3/2.0	1,458 (-4%)	8mo	$125,000	$86	84
4134 Mesquite Ln #153	0.06mi	3/2.0	1,459 (-4%)	13mo	$130,000	$89	81
3105 Foxtail Ln #308	0.12mi	4/2.0 (+1)	1,568 (+4%)	4mo	$135,000	$86	80
3117 Foxtail Ln	0.08mi	3/2.0	1,456 (-4%)	13mo	$122,200	$84	79
4013 Wapiti Way	0.28mi	4/2.0 (+1)	1,568 (+4%)	1mo	$123,000	$78	74
4225 Buffalo Trl #396	0.26mi	3/2.0	1,456 (-4%)	10mo	$132,500	$91	73
3301 Coyote Ln #26	0.18mi	3/2.0	1,344 (-11%)	3mo	$115,000	$86	70
3008 Foxtail Ln #331	0.17mi	4/2.0 (+1)	1,568 (+4%)	14mo	$132,500	$85	69
4200 Buffalo Trl	0.28mi	3/2.0	1,456 (-4%)	14mo	$123,112	$85	69
3400 Yucca Cir #218	0.16mi	3/2.0	1,344 (-11%)	7mo	$120,000	$89	68
4131 Cedar Ln #79	0.10mi	3/2.0	1,728 (+14%)	8mo	$119,000	$69	65
3500 35th Ave	0.69mi	3/2.0	1,568 (+4%)	13mo	$78,000	$50	51

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.41×
• Total profit: $15,868
• Equity at exit: $20,427

10-year hold

• IRR: 17.3%
• Equity multiple: 2.23×
• Total profit: $47,251
• Equity at exit: $11,845

Cash invested: $38,360 (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 80620

• Home prices YoY: -20.9%
• Rents YoY: -1.8%
• Active inventory: 120
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,075 high
• Mortgage (P&I): −$718
• Tax est. 1.5%: −$171 /mo · $2,055/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $693

Break-even live

Break-even rent $1,198

Max offer price $137,000

Occupancy floor 62%

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2846 Arbor Dr #2898 Evans, CO	2.0	1.5–2.0	1327	$1,738	$1.31	13d	3	0.74mi
2711 Montego Bay Evans, CO	3.0	3.0	2224	$2,350	$1.06	13d	1	0.86mi
3301 Abbey Rd Evans, CO	1.0–3.0	1.0–2.0	913	$2,112	$2.31	13d	10	1.16mi
2506 32nd St Evans, CO	2.0–3.0	2.0	1155	$2,025	$1.75	23d	1	1.18mi
1725 Rowan Ln Evans, CO	3.0	1.5	1190	$2,099	$1.76	13d	1	1.28mi

Listing history 23 events

1. 2026-06-18
   days on market $137,000 Active 51 DOM
2. 2026-06-17
   days on market $137,000 Active 50 DOM
3. 2026-06-16
   days on market $137,000 Active 49 DOM
4. 2026-06-15
   days on market $137,000 Active 48 DOM
5. 2026-06-14
   days on market $137,000 Active 46 DOM
6. 2026-06-10
   days on market $137,000 Active 43 DOM
7. 2026-06-09
   days on market $137,000 Active 42 DOM
8. 2026-06-08
   days on market $137,000 Active 41 DOM
9. 2026-06-07
   days on market $137,000 Active 40 DOM
10. 2026-06-03
    days on market $137,000 Active 36 DOM
11. 2026-06-03
    price $137,000 Active 35 DOM
12. 2026-06-02
    days on market $142,000 Active 35 DOM
13. 2026-06-01
    days on market $142,000 Active 34 DOM
14. 2026-05-31
    days on market $142,000 Active 33 DOM
15. 2026-05-30
    days on market $142,000 Active 32 DOM
16. 2026-04-28
    historical
17. 2026-04-28
    historical
18. 2026-04-24
    listed $142,000 Active
19. 2026-04-23
    listed $142,000 Active
20. 2026-04-23
    listed $142,000
21. 2021-06-16
    soldstatus $92,500 Sold
22. 2021-05-06
    historical Active - Backup
23. 2021-04-27
    listed $92,500 Active

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

Taxation est. · year 1

• Rental income: $24,903
• − Mortgage interest: −$7,674
• − Property taxes: −$2,055
• − Insurance: −$685
• − Repairs & maintenance: −$1,992
• − Management: −$1,992
• − Depreciation: −$3,985
• Taxable income: $6,519
• Est. tax owed @ 24.0%: −$1,565
• After-tax cash flow: $6,748/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 · 6 photos

Good 75/100 Cosmetic rehab

This well-maintained mobile home features an open, light-filled floor plan with updated flooring and ample space. It is located in a desirable location with access to community amenities, making it a good investment opportunity.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value.
• Both Clean gutters — Improves drainage and can prevent water damage, increasing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean gutters — Improves drainage and can prevent water damage, increasing both resale and rental value. ↑

ⓘ 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: Greeleyschool District No. 6 In The County Of Weld And Sta
• NCES district ID: 0804410
• Math proficiency: 15% ▼ -7.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $46,417
• Composite: 19.99/100
• National rank: #8667
• State rank: #71 of 86 in CO

Livability — Evans

• Score: 69/100
• State rank: #104
• US rank: #9005

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evans, CO
• County: Weld County · 332,652 people
• City population: 20,798
• Metro: Greeley, CO
• Population (ZIP): 20,798
• Household income: $73,590
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 420.0

Population outlook (Weld County) Hauer SSP2

• Today (2025): 351,957 people
• By 2030: 385,304 · +9.5%
• By 2040: 451,818 · +28.4%
• By 2050: 514,478 · +46.2%
• By 2075: 648,733 · +84.3%
• By 2100: 720,400 · +104.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 48% White 45% Two or more races 17% Black 2% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Serbian 2% Romanian 1% Lithuanian 1%
• Foreign-born: 16% · Canada, South Korea, China
• Languages at home: 67% English-only · Spanish 31% Other Asian/Pacific 1%

Political lean MEDSL · Weld

• 2024 margin: Strong R (+21.0) · D 38.2% · R 59.2% · Other 2.6%
• 2008→2024 swing: -12.2pp toward R · 2008: -8.7pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+18.0 2016: R+22.4 2012: R+13.2 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.36%
• Current HPI: 330.6379
• Rent YoY: ▼ -1.78%
• Metro: Greeley, 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

+53.5% since first listed

8 events — show timeline

• 2026-04-28 Listing Removed — IRES
• 2026-04-28 Listing Removed — IRES
• 2026-04-24 Listed $142,000 IRES
• 2026-04-23 Listed $142,000 IRES
• 2026-04-23 Listed $142,000 IRES
• 2021-06-16 Sold (MLS) $92,500 IRES
• 2021-05-06 Contingent — IRES
• 2021-04-27 Listed $92,500 IRES