10691 Tomichi Dr · Franktown, CO 80116

$850,000

3 bd · 4.0 ba · 3,328 sqft · SingleFamily public records · 48 Days on market

Built 1978 7.07 ac lot Est $1321k · 36% under $4/mo HOA

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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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.2/10.0
• Schools +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your private mountain retreat in Franktown! Nestled among mature trees on 7 peaceful acres, this stunning home offers privacy, tranquility, and incredible mountain views. Step inside to find a beautifully updated kitchen featuring a double oven, built-in refrigerator with matching cabinetry, stone flooring, and a spacious island - perfect for cooking and entertaining. The home features multiple fireplaces, creating warmth and charm throughout, along with a luxury 5-piece bathroom boasting custom finishes, a large soaking tub, and a beautifully tiled shower. The grand rec room offers tall ceilings and a striking stone fireplace, making it the perfect gathering space. Enjoy the out

Key facts

• Updated kitchen
• Double oven
• Stone flooring

Tags

• PRIVATE MOUNTAIN RETREAT
• INCREDIBLE MOUNTAIN VIEWS
• UPDATED KITCHEN
• DOUBLE OVEN
• BUILT-IN REFRIGERATOR
• STONE FLOORING

Property features AI

Finance

• Other: Minimal flood risk (C rating)
• HOA & community: Russelville HOA with annual fee of $49 (association fees apply)

Exterior

• Parking: Attached oversized garage with automatic door; 4 garage spaces
• Security: Fire alarm
• Utilities: Well water with meter installed; Natural gas available (Black Hills); Electricity available; High-speed internet available; No water rights
• Home design: Single-family residence; Tri-level; Not new (previously owned); Residential zoning RR
• Construction: Frame construction with vinyl siding; Composition roof
• Exterior features: Deck; Balcony; Fenced yard; Lot with wooded areas, evergreen and deciduous trees, native grasses, xeriscape and steep sections; House/lot faces southwest; Paved access

Interior

• Kitchen: Electric range; Self-cleaning oven; Double oven; Dishwasher; Refrigerator; Microwave; Disposal; Water softener (owned)
• Bedrooms: 4 bedrooms (all conforming)
• Flooring: Wood floors
• Bathrooms: 1 full bath; 2 three-quarter baths; 1 half bath
• Heating & cooling: Forced air heating; Wood stove; Humidity control; Central air conditioning; Ceiling fans
• Interior features: Eat-in kitchen; Separate dining room; Open floorplan with high and cathedral ceilings; Kitchen island; Pantry; Skylights; Window coverings; Fire alarm
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $850k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $850k).
• Recommended offer: $824k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 1.0% in Franktown — 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 65/100 on livability (#169 in CO) — a middle-class / working-renter tenant base. Strengths: crime A, employment A-, cost of living A-; Watch: amenities F, commute F, housing F.
• Douglas County School District No. RE-1 (suburban): math 45% / reading 62% proficiency, ranked #7 of 86 in CO (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Franktown Elementary School (math 44% / reading 52%, grade D, #232 of 966 statewide, top 25%, 365 students, 6% FRL); Ponderosa High School (math 36% / reading 65%, grade D+, #93 of 381 statewide, top 24%, 1,402 students, 0% FRL).
• Market conditions: 67 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,131 units permitted in Douglas County in 2024 (950 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Douglas County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $238k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($824k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $50k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $215k; list at $850k implies a 295% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $824,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.12% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.64%
• DSCR: 1.52
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $1,321,216
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1856 Gold Camp Way	0.59mi	4/3.0 (+1)	3,409 (+2%)	23mo	$1,249,000	$366	40
11443 Pine Valley Dr	0.73mi	4/3.0 (+1)	2,900 (-13%)	24mo	$1,152,500	$397	16

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $9,080
• Equity at exit: $126,738

10-year hold

• IRR: 10.6%
• Equity multiple: 1.82×
• Total profit: $196,196
• Equity at exit: $73,492

Cash invested: $238,000 (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 80116

• Home prices YoY: -30.8%
• Active inventory: 67
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $9,500 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$380 /mo · $4,559/yr
• Insurance: −$354
• HOA: −$4
• Vacancy / Maint / Mgmt: −$1,995
• Net cashflow: $2,309

Break-even live

Break-even rent $6,577

Max offer price $850,000

Occupancy floor 71%

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
230 S Big Meadow Trl Franktown, CO	4.0	3.5	4042	$9,500	$2.35	19d	1	1.22mi

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 21 events

1. 2026-06-18
   days on market $850,000 Active 48 DOM
2. 2026-06-17
   days on market $850,000 Active 47 DOM
3. 2026-06-16
   days on market $850,000 Active 46 DOM
4. 2026-06-15
   days on market $850,000 Active 45 DOM
5. 2026-06-13
   days on market $850,000 Active 43 DOM
6. 2026-06-10
   days on market $850,000 Active 39 DOM
7. 2026-06-08
   days on market $850,000 Active 38 DOM
8. 2026-06-07
   days on market $850,000 Active 37 DOM
9. 2026-06-04
   days on market $850,000 Active 34 DOM
10. 2026-06-03
    days on market $850,000 Active 33 DOM
11. 2026-06-02
    days on market $850,000 Active 32 DOM
12. 2026-06-01
    days on market $850,000 Active 31 DOM
13. 2026-05-31
    days on market $850,000 Active 30 DOM
14. 2026-05-01
    status Active
15. 2026-05-01
    historical
16. 2026-05-01
    listed $899,900 Active
17. 2026-04-30
    historical
18. 2026-04-09
    price $899,900
19. 2026-02-25
    price $950,000
20. 2025-10-28
    listed $1,000,000 Active
21. 1991-12-09
    soldstatus $215,000

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

Tax reassessment forecast CO · Resets to sale price

• Current annual tax: $4,559 · $380/mo
• Projected year-2 tax: $4,675 · $390/mo
• Expected delta: +$116/yr (+$10/mo · 2.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥88°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $114,000
• − Mortgage interest: −$47,613
• − Property taxes: −$4,559
• − Insurance: −$4,250
• − Repairs & maintenance: −$9,120
• − Management: −$9,120
• − HOA: −$48
• − Depreciation: −$24,727
• Taxable income: $14,563
• Est. tax owed @ 24.0%: −$3,495
• After-tax cash flow: $24,218/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: Douglas County School District No. RE-1
• NCES district ID: 0803450
• Math proficiency: 45% ▼ -3.00%
• Reading proficiency: 62% ▲ 3.00%
• Median HH income: $103,175
• Composite: 50.71/100
• National rank: #1818
• State rank: #7 of 86 in CO

Livability — Franktown

• Score: 65/100
• State rank: #169
• US rank: #13196

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,393

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 400,644 people
• By 2030: 438,441 · +9.4%
• By 2040: 509,940 · +27.3%
• By 2050: 571,695 · +42.7%
• By 2075: 699,992 · +74.7%
• By 2100: 751,119 · +87.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 5% Native American 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 5% Italian 5% Portuguese 4%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Douglas

• 2024 margin: Lean R (+7.0) · D 45.3% · R 52.3% · Other 2.4%
• 2008→2024 swing: +10.2pp toward D · 2008: -17.2pp · 2024: -7.0pp
• All cycles: 2024: R+7.0 2020: R+7.2 2016: R+18.1 2012: R+26.5 2008: R+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.43%
• Current HPI: 273.4265
• 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

Price history

+318.6% since first listed

8 events — show timeline

• 2026-05-01 Relisted — IRES
• 2026-05-01 Listed $899,900 IRES
• 2026-05-01 Listing Removed — IRES
• 2026-04-30 Listing Removed — IRES
• 2026-04-09 Price Changed $899,900 IRES
• 2026-02-25 Price Changed $950,000 IRES
• 2025-10-28 Listed $1,000,000 IRES
• 1991-12-09 Sold (Public Records) $215,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $4,559 · -9.1% YoY. Source: county tax records.