3650 S Federal Blvd Unit 11-RV11 · Sheridan, CO 80110

$90,000

1 bd · 1.0 ba · 704 sqft · Manufactured · 381 Days on market

Built 2025 Est $73k · 24% over

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Why this score? — see what drove the C 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• 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

Key facts

• Fitness center
• Landscaped grounds
• Community clubhouse

Tags

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

Property features AI

Finance

• Other: Listing last updated 2026-04-28
• Financial info: List price $90,000

Exterior

• Home design: Spec inventory type; Plan name: 3650 S. Federal Blvd. #11 RV11; Active listing
• Exterior features: Address: 3650 S Federal Blvd Unit 11-RV11, Englewood, CO 80110

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 bathroom
• Interior features: Living area of 704

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.7% 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-, amenities D+, crime F.
• 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.
• Zoned schools: Alice Terry Elementary School (193 students, 91% FRL); Fort Logan Northgate (math 4% / reading 18%, grade F, #242 of 270 statewide, top 90%, 398 students, 95% FRL); Sheridan High School (math 8% / reading 27%, grade F, #340 of 381 statewide, top 90%, 326 students, 90% FRL).
• Market conditions: Rents soft (-0.8%/yr); 106 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,927 units permitted in Arapahoe County in 2024 (1,525 in 5+ unit buildings).
• This rent is only 17% of the median local income ($86k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 381 days — a 12% lower offer ($79k) 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 $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 381 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. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 10.91%
• Cash-on-cash: 16.50%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $72,512
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3500 S King Street #42	0.43mi	2/1.0 (+1)	784 (+11%)	3mo	$81,000	$103	54

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-276
• Equity at exit: $13,419

10-year hold

• IRR: 5.7%
• Equity multiple: 1.36×
• Total profit: $9,089
• Equity at exit: $7,782

Cash invested: $25,200 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,226 high
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $280

Break-even live

Break-even rent $871

Max offer price $90,000

Occupancy floor 72%

Sensitivity live

Price	-10% $342	-5% $311	+0% $280	+5% $249	+10% $218
Rent	-10% $183	-5% $232	+0% $280	+5% $329	+10% $377
Rate	-1.0pp $325	-0.5pp $303	base $280	+0.5pp $257	+1.0pp $233

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 21 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	0.25mi
3041 W Hamilton Pl Unit 3 Englewood, CO	1.0	1.0	650	$950	$1.46	5d	1	0.33mi
3041 W Hamilton Pl Unit 3 Englewood, CO	1.0	1.0	650	$925	$1.42	0d	1	0.33mi
3605 S Knox Ct Denver, CO	1.0	1.0	650	$999	$1.54	4d	1	0.56mi
3615 S Knox Ct Unit 204 Denver, CO	1.0	1.0	650	$999	$1.54	5d	1	0.57mi
3839 S Knox Ct Denver, CO	1.0	1.0	700	$1,100	$1.57	25d	1	0.62mi
3839 S Knox Ct Unit EAST-1 Denver, CO	1.0	1.0	700	$1,100	$1.57	25d	1	0.62mi
3824 S King St Unit 3828 Denver, CO	2.0	1.0	722	$1,395	$1.93	25d	1	0.64mi
3670 S Lowell Blvd Denver, CO	—	1.0	600	$1,040	$1.73	25d	1	0.65mi
3600 S Lowell Blvd Denver, CO	1.0–2.0	1.0	762	$1,077	$1.41	0d	3	0.66mi
3660 S Lowell Blvd Denver, CO	1.0	1.0	600	$1,340	$2.23	25d	1	0.66mi
3680 S Lowell Blvd Denver, CO	1.0	1.0	650	$1,100	$1.69	3d	1	0.67mi
3850 S Lowell Blvd Unit C Denver, CO	—	1.0	385	$1,095	$2.84	0d	1	0.71mi
3488 W Quincy Ave Englewood, CO	1.0–3.0	1.0–2.0	853	$1,349	$1.58	25d	1	1.05mi
3400 S Platte River Dr Englewood, CO	1.0–2.0	1.0–2.0	911	$1,540	$1.69	0d	20	1.09mi
3595 S Jason St Englewood, CO	2.0	1.0–2.0	883	$2,308	$2.61	3d	34	1.21mi
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
801 Englewood Pkwy Englewood, CO	1.0–3.0	1.0–2.0	1015	$1,585	$1.56	0d	41	1.38mi
3600 S Fox St Englewood, CO	1.0	1.0	500	$1,138	$2.27	6d	7	1.47mi
3690 S Fox St Englewood, CO	1.0	1.0	470	$1,025	$2.18	0d	1	1.47mi

Listing history 14 events

1. 2026-06-21
   days on market $90,000 Active 381 DOM
2. 2026-06-18
   days on market $90,000 Active 378 DOM
3. 2026-06-17
   days on market $90,000 Active 377 DOM
4. 2026-06-16
   days on market $90,000 Active 376 DOM
5. 2026-06-15
   days on market $90,000 Active 375 DOM
6. 2026-06-13
   days on market $90,000 Active 373 DOM
7. 2026-06-09
   days on market $90,000 Active 369 DOM
8. 2026-06-08
   days on market $90,000 Active 368 DOM
9. 2026-06-07
   days on market $90,000 Active 367 DOM
10. 2026-06-04
    days on market $90,000 Active 364 DOM
11. 2026-06-03
    days on market $90,000 Active 363 DOM
12. 2026-06-02
    days on market $90,000 Active 362 DOM
13. 2026-06-01
    days on market $90,000 Active 361 DOM
14. 2026-05-31
    days on market $90,000 Active 360 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: $14,712
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$1,248
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$2,618
• Taxable income: $2,101
• Est. tax owed @ 24.0%: −$504
• After-tax cash flow: $2,857/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