3650 S Federal Blvd Unit 4-RV4 · Sheridan, CO 80110

$120,000

1 bd · 1.0 ba · 784 sqft · Manufactured · 165 Days on market

Built 2025 Est $81k · 49% over

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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).

• Cash flow +22.6/30.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Amazing 1 bed, 1 bathroom home, with WONDERFUL touches and accents! Ridgeline at River Run is a vibrant community located in Englewood, CO, offering residents a variety of amenities and activities. Residents can enjoy the community clubhouse, swimming pool, and fitness center for leisure and recreation. The beautifully landscaped grounds provide a peaceful setting for evening strolls or morning jogs. With nearby shopping, dining, and entertainment options, residents of Ridgeline at River Run have everything they need at their fingertips. Experience the convenience and comfort of this welcoming community in the heart of Englewood.

Key facts

• Fitness center
• Landscaped grounds
• Community clubhouse

Tags

• COMMUNITY CLUBHOUSE
• SWIMMING POOL
• FITNESS CENTER
• LANDSCAPED GROUNDS
• SHOPPING DINING ENTERTAINMENT

Property features AI

Finance

• Financial info: List price $120,000

Exterior

• Home design: Unit at 3650 S Federal Blvd Unit 4-RV4; Active listing
• Construction: Living area approximately 784
• Exterior features: Address: 3650 S Federal Blvd, Englewood, CO 80110

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Interior features: Spec-built unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.0% in Sheridan — 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 63/100 on livability (#197 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A-; Watch: employment C-, schools D+, amenities D+.
• Sheridan School District No. 2 (suburban): math 4% / reading 20% proficiency, ranked #85 of 86 in CO (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.8%/yr); 106 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,927 units permitted in Arapahoe County in 2024 (1,525 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Arapahoe County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.09% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.26%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $80,752
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3500 S King Street #42	0.32mi	2/1.0 (+1)	784 (0%)	3mo	$81,000	$103	78
3650 S Federal Blvd #109	0.10mi	2/2.0 (+1)	840 (+7%)	8mo	$83,000	$99	68

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: -12.3%
• Equity multiple: 0.57×
• Total profit: $-14,500
• Equity at exit: $17,892

10-year hold

• IRR: -9.0%
• Equity multiple: 0.52×
• Total profit: $-15,962
• Equity at exit: $10,375

Cash invested: $33,600 (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 80110

• Rents YoY: -0.8%
• Active inventory: 106
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,307 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $137

Break-even live

Break-even rent $1,134

Max offer price $120,000

Occupancy floor 85%

Sensitivity live

Price	-10% $220	-5% $178	+0% $137	+5% $95	+10% $54
Rent	-10% $34	-5% $85	+0% $137	+5% $188	+10% $240
Rate	-1.0pp $197	-0.5pp $167	base $137	+0.5pp $106	+1.0pp $74

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3740 S Federal Blvd Englewood, CO	1.0	1.0	600	$1,362	$2.27	4d	5	0.23mi
3041 W Hamilton Pl Unit 3 Englewood, CO	1.0	1.0	650	$950	$1.46	5d	1	0.27mi
3773 S Grove St Englewood, CO	1.0	1.0	1000	$1,300	$1.30	25d	1	0.30mi
3171 W Girard Ave Englewood, CO	2.0	1.0–2.0	863	$1,576	$1.83	25d	1	0.37mi
3605 S Knox Ct Denver, CO	1.0	1.0	650	$999	$1.54	4d	1	0.45mi
3615 S Knox Ct Unit 204 Denver, CO	1.0	1.0	650	$999	$1.54	4d	1	0.46mi
3839 S Knox Ct Denver, CO	1.0	1.0	700	$1,100	$1.57	25d	1	0.52mi
3839 S Knox Ct Unit EAST-1 Denver, CO	1.0	1.0	700	$1,100	$1.57	25d	1	0.52mi
3670 S Lowell Blvd Denver, CO	—	1.0	600	$1,040	$1.73	25d	1	0.54mi
3824 S King St Unit 3828 Denver, CO	2.0	1.0	722	$1,395	$1.93	25d	1	0.54mi
3600 S Lowell Blvd Denver, CO	1.0–2.0	1.0	762	$1,077	$1.41	3d	2	0.55mi
3660 S Lowell Blvd Denver, CO	1.0	1.0	600	$1,340	$2.23	25d	1	0.56mi
3680 S Lowell Blvd Denver, CO	1.0	1.0	650	$1,100	$1.69	3d	1	0.56mi
2024 W Hamilton Pl Englewood, CO	2.0	1.0	960	$1,700	$1.77	25d	1	0.65mi
4100 S Hooker St Denver, CO	2.0–3.0	1.0	1050	$1,549	$1.48	13d	1	0.74mi
3488 W Quincy Ave Englewood, CO	1.0–3.0	1.0–2.0	853	$1,349	$1.58	25d	1	1.00mi
3400 S Platte River Dr Englewood, CO	1.0–2.0	1.0–2.0	911	$1,541	$1.69	3d	19	1.19mi
4671 S Decatur St #129 Englewood, CO	1.0	1.0	684	$1,500	$2.19	17d	1	1.29mi
4681 S Decatur St Englewood, CO	1.0	1.0	648	$1,400	$2.16	23d	1	1.30mi
3595 S Jason St Englewood, CO	2.0	1.0–2.0	883	$2,308	$2.61	3d	34	1.31mi
801 Englewood Pkwy Englewood, CO	1.0–3.0	1.0–2.0	1015	$1,436	$1.41	3d	42	1.48mi
3237 S Huron St Englewood, CO	2.0	1.0	828	$1,830	$2.21	25d	1	1.49mi

Listing history 3 events

1. 2026-06-21
   days on market $120,000 Active 165 DOM
2. 2026-06-18
   days on market $120,000 Active 162 DOM
3. 2026-06-18
   days on market $120,000 Active 161 DOM

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,685
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$1,398
• − Repairs & maintenance: −$1,255
• − Management: −$1,255
• − Depreciation: −$3,491
• Taxable loss: −$235
• Est. tax savings @ 24.0%: +$56
• After-tax cash flow: $1,698/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: Sheridan School District No. 2
• NCES district ID: 0806540
• Math proficiency: 4% ▼ -6.00%
• Reading proficiency: 20% ▲ 1.00%
• Median HH income: $37,378
• Composite: 10.01/100
• National rank: #9810
• State rank: #85 of 86 in CO

Livability — Sheridan

• Score: 63/100
• State rank: #197
• US rank: #16046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheridan, CO
• County: Arapahoe County · 715,018 people
• City population: 23,825
• Metro: Denver-Aurora-Lakewood, CO
• Population (ZIP): 23,825
• Household income: $85,900
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 773.0

Population outlook (Arapahoe County) Hauer SSP2

• Today (2025): 757,407 people
• By 2030: 819,724 · +8.2%
• By 2040: 940,367 · +24.2%
• By 2050: 1,053,720 · +39.1%
• By 2075: 1,297,693 · +71.3%
• By 2100: 1,412,796 · +86.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 26% Two or more races 12% Black 4% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Italian 3% Lithuanian 2% Portuguese 2%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 13% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Arapahoe

• 2024 margin: Strong D (+20.1) · D 58.6% · R 38.5% · Other 2.9%
• 2008→2024 swing: +7.2pp toward D · 2008: 12.9pp · 2024: 20.1pp
• All cycles: 2024: D+20.1 2020: D+24.6 2016: D+13.8 2012: D+8.3 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -548.46%
• Current HPI: 296.0714
• Rent YoY: ▼ -0.85%
• Metro: Denver-Aurora-Lakewood, 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