8670 Lowell Blvd

Westminster, CO 80031

$574,257D

3 bd · 2.5 ba · 1,535 sqft · Built 2026 · MultiFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,213/mo
• Mortgage (P&I): −$3,011
• Tax + insurance: −$957
• HOA: −$0
• Vac / Maint / Mgmt: −$1,095
• Net cashflow: $150/mo
• Annual: $1,797/yr
• Cap rate: 6.61%
• Cash-on-cash: 1.12%
• DSCR: 1.05
• 1% rule: 0.91%
• Cash to close: $160,792

Investor read

• This is a 3-bed/2.5-bath multifamily listed at $574k.
• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $521k (9.2% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $521k (9.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#81 in CO) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: health & safety D, crime D-, amenities F.
• Westminster Public Schools (suburban): math 11% / reading 22% proficiency, ranked #81 of 86 in CO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John E. Flynn A Marzano Academy (math 5% / reading 24%, grade F, #793 of 966 statewide, top 84%, 337 students, 74% FRL); Shaw Heights Middle School (math 2% / reading 12%, grade F, #260 of 270 statewide, top 99%, 564 students, 80% FRL); Westminster High School (math 10% / reading 33%, grade F, #313 of 381 statewide, top 82%, 2,021 students, 79% FRL).
• Market conditions: Rents soft (-0.9%/yr); 264 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,299 units permitted in Adams County in 2024 (343 in 5+ unit buildings).
• Adams County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.6% vs local median 2.6% in Westminster — 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 $5,213/mo this rent would consume 58% of the median local household income ($107k/yr) (locally 1056% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.
• How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.