Real Estate Investing in Drake, Colorado (80515)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 80515 (Drake, CO)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 35.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 28.2 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Drake, CO (80515)?
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Market Analysis: 80515 Drake
The 80515 ZIP covers a section of Drake that demands careful diligence. Prices near $482K look accessible, but the work to make a deal cash flow is real.
Rent of $1,422/mo on a $482K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 80515 sits below the stated 0.0% once reality is priced in.
ZIP 80515's metrics run below Larimer County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 80515 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Drake's stable or hybrid ZIPs before stepping into 80515. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Drake:
Property Strategy for 80515
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $359,269 | $1,400 | 2.8% | +5.6% | $359,269 |
| 2BR | $449,208 | $1,580 | 2.5% | +5.1% | $224,604 |
| 3BR | $549,313 | $2,170 | 2.8% | +5.2% | $183,104 |
Market Trends
Home Value History (with trend line)
📊 How Does 80515 Compare?
| Metric | 80515 | Drake | Fort Collins, CO | Colorado |
|---|---|---|---|---|
| Home Value | $481,591 | $523,013 | N/A | $535,778 |
| 5-Year CAGR | 2.7% | 2.3% | N/A | 4.9% |
| Avg Rent | $1,422 | $1,490 | N/A | - |
| Cap Rate | 2.3% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 80515 (Drake, CO). Anonymous, moderated, never written by AI.
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Property managers serving Larimer County
Manage rentals here? List your business →Armadillo Properties offers property management, rental listings, and sales services in Copperas Cove, Killeen, Harker Heights, and Kempner. summary from their website
Dimensions Realty and Management is a full-service real estate company providing property management and brokerage services in Northern Colorado, including Fort Collins. summary from their website
Faith Pro LLC is a Northern Colorado Property Management Company. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $481,591 |
| Monthly Rent | $1,422 |
| Price-to-Rent | 28.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.3% |
| 5-Year IRR | 5.0% |
📈 Home Appreciation
| 1-Year | +0.3% ▲ |
| 3-Year CAGR | +1.2% ▲ |
| 5-Year CAGR | +2.7% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 80515
Population: 786
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
How do experienced investors play Drake, CO?
For Drake, CO, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How strong are rents in Drake, CO?
Expect rents around $1,422/mo per month in Drake, CO. With home values at $482K, the yield math works out to reasonable levels for rental investors.
Are there empty rentals in Drake, CO?
Drake, CO carries elevated vacancy risk. Expect predictable absorption at market rents of $1,422/mo.
Does a duplex house hack pencil in Drake, CO?
House hacking works a challenging in Drake, CO. Rents of $1,422/mo against $482K acquisition make the strategy solid for owner-occupants.
Is Drake, CO good for landlords?
Rental owners in Drake, CO deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 80515 now. You don’t know where it ranks.
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How 80515 ranks in Fort Collins, CO
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