45910 Mill Ave · Bennett, CO 80102

$451,350

4 bd · 2.5 ba · 1,880 sqft · SingleFamily · 13 Days on market

Built 2026 Est $451k · at est.

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.0/30.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Schools +2.1/10.0

Listing remarks

This new two-story home is host to a spacious and inviting open-concept layout on the first floor where the kitchen, living and dining areas meet. All four bedrooms are located on the second floor for optimal comfort and privacy, including a luxe owner's suite with a full bathroom and walk-in closet, just steps from a versatile loft.

Key facts

• Luxe owner's suite
• Full bathroom
• Walk-in closet

Tags

• OPEN-CONCEPT LAYOUT
• LUXE OWNER'S SUITE
• FULL BATHROOM
• WALK-IN CLOSET
• VERSATILE LOFT

Property features AI

Finance

• Financial info: List price $451,350

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: Single-family residence; Active listing
• Exterior features: Living area of 1,880

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Interior features: Spec home (new construction, Canopy plan)

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $451k.

Deal economics

• At list price, monthly cash flow is $-452 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $386k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $338k (25.2% below list).
• Recommended offer: $338k (25.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#263 in CO) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A-; Watch: cost of living D+, amenities F, commute F.
• Bennett School District No. 29J (rural): math 13% / reading 31% proficiency, ranked #69 of 86 in CO (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bennett Elementary School (math 24% / reading 12%, grade F, #745 of 966 statewide, top 77%, 257 students, 37% FRL); Bennett Middle School (math 8% / reading 42%, grade F, #168 of 270 statewide, top 63%, 304 students, 38% FRL); Bennett High School (math 22% / reading 47%, grade F, #209 of 381 statewide, top 56%, 427 students, 25% FRL).
• Market conditions: 213 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,299 units permitted in Adams County in 2024 (343 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Adams County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$78k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $337,589 (25.2% below list)

Questions for the listing agent

1. 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?
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. 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?
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: 0.75% ✗
• Cap rate: 5.09%
• Cash-on-cash: -4.29%
• DSCR: 0.81
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $451,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45886 Mill Ave	0.03mi	4/3.0	1,880 (0%)	1mo	$451,400	$240	96
45870 Mill Ave	0.05mi	4/3.0	1,880 (0%)	3mo	$474,900	$253	94
45894 Mill Ave	0.02mi	5/3.0 (+1)	2,112 (+12%)	0mo	$465,250	$220	71
45878 Mill Ave	0.04mi	5/3.0 (+1)	2,112 (+12%)	1mo	$489,900	$232	70
365 Wildflower Ct	0.06mi	5/3.0 (+1)	2,112 (+12%)	0mo	$468,900	$222	69
46581 Sunflower Ln	0.42mi	4/4.0	1,930 (+3%)	3mo	$481,720	$250	68
45862 Mill Ave	0.06mi	5/3.0 (+1)	2,112 (+12%)	3mo	$485,000	$230	67
46589 Sunflower Ln	0.43mi	3/3.0 (-1)	1,944 (+3%)	1mo	$459,390	$236	66
45840 Laceleaf Dr	0.24mi	3/3.0 (-1)	1,725 (-8%)	3mo	$435,000	$252	66
46573 Sunflower Ln	0.42mi	3/3.0 (-1)	1,944 (+3%)	3mo	$467,999	$241	65
46526 Avery Ln	0.44mi	3/2.0 (-1)	1,643 (-13%)	3mo	$419,990	$256	49
46538 Sunrise Ct	0.64mi	3/3.0 (-1)	2,141 (+14%)	0mo	$499,900	$233	40

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 2.72×
• Total profit: $217,066
• Equity at exit: $406,612

10-year hold

• IRR: 19.2%
• Equity multiple: 6.24×
• Total profit: $661,974
• Equity at exit: $876,874

Cash invested: $126,378 (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 80102

• Home prices YoY: 3.1%
• Active inventory: 213
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,376 medium
• Mortgage (P&I): −$2,367
• Tax est. 1.5%: −$564 /mo · $6,770/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$709
• Net cashflow: $-452

Break-even live

Break-even rent $3,948

Max offer price $385,912

Occupancy floor —

Sensitivity live

Price	-10% $-140	-5% $-296	+0% $-452	+5% $-608	+10% $-764
Rent	-10% $-719	-5% $-586	+0% $-452	+5% $-319	+10% $-186
Rate	-1.0pp $-225	-0.5pp $-337	base $-452	+0.5pp $-569	+1.0pp $-688

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: $112,838
• Closing costs: $13,540
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Racer St Bennett, CO	4.0	3.0	2536	$3,500	$1.38	26d	1	0.28mi
239 Adams St Bennett, CO	3.0	2.5	1653	$3,000	$1.81	26d	1	1.00mi

Listing history 9 events

1. 2026-06-21
   days on market $451,350 Active 13 DOM
2. 2026-06-18
   days on market $451,350 Active 10 DOM
3. 2026-06-17
   days on market $451,350 Active 9 DOM
4. 2026-06-16
   days on market $451,350 Active 8 DOM
5. 2026-06-15
   days on market $451,350 Active 7 DOM
6. 2026-06-13
   days on market $451,350 Active 5 DOM
7. 2026-06-13
   days on market $451,350 Active 4 DOM
8. 2026-06-10
   remarks 335-char remark
9. 2026-06-10
   listed $451,350 Active 1 DOM

ⓘ 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: $40,511
• − Mortgage interest: −$25,283
• − Property taxes: −$6,770
• − Insurance: −$2,257
• − Repairs & maintenance: −$3,241
• − Management: −$3,241
• − Depreciation: −$13,130
• Taxable loss: −$13,411
• Est. tax savings @ 24.0%: +$3,219
• After-tax cash flow: $-2,208/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: Bennett School District No. 29J
• NCES district ID: 0802430
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $69,795
• Composite: 21.39/100
• National rank: #8353
• State rank: #69 of 86 in CO

Livability — Bennett

• Score: 59/100
• State rank: #263
• US rank: #19691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bennett, CO
• City population: 5,994
• Population (ZIP): 5,994

Population outlook (Adams County) Hauer SSP2

• Today (2025): 598,184 people
• By 2030: 651,880 · +9.0%
• By 2040: 759,778 · +27.0%
• By 2050: 862,889 · +44.3%
• By 2075: 1,085,994 · +81.5%
• By 2100: 1,211,318 · +102.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 21% Two or more races 11% Black 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Serbian 4% Italian 3% Lithuanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 1% Chinese 1%

Political lean MEDSL · Adams

• 2024 margin: Lean D (+9.0) · D 53.2% · R 44.1% · Other 2.7%
• 2008→2024 swing: -9.3pp toward R · 2008: 18.4pp · 2024: 9.0pp
• All cycles: 2024: D+9.0 2020: D+16.3 2016: D+7.2 2012: D+15.1 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.94%
• Current HPI: 494.39
• Rent YoY: —
• Metro: —
• 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