9100 Tejon St #150 · Federal Heights, CO 80260

$72,500

4 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 36 Days on market

Built 1982 Est $90k · 19% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in Lamplighter Village - an all ages park. Roll up your sleeves and step into potential. This 4-bedroom, 2-bath double wide offers 1,344 sq ft. Multiple bedrooms and a functional layout, there's room for everyone to live comfortably under one roof. Priced at just $72,500, this home offers a unique opportunity to own for far less than similar homes in the park, which are listed at $125,000+. With some updates over time, you can create a home that fits your needs while building equity for the future. Outside, enjoy paved parking for up to 4 vehicles-ideal for households with multiple drivers. Monthly lot rent is $1,200 and includes water and garbage, helping keep expenses simple and m

Key facts

• Functional layout
• Built 1982
• Listed 36 days

Tags

• PAVED PARKING FOR 4 VEHICLES
• FUNCTIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $72k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $70k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.9% vs local median 4.2% in Federal Heights — 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 76/100 on livability (#28 in CO, #3,380 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, schools F, crime F.
• Adams 12 Five Star Schools (suburban): math 31% / reading 46% proficiency, ranked #26 of 86 in CO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 138 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,299 units permitted in Adams County in 2024 (343 in 5+ unit buildings).
• This rent runs 43% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $501 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Adams County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Recommended offer $70,325 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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?
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: 3.02% ✓
• Cap rate: 27.88%
• Cash-on-cash: 77.09%
• DSCR: 4.43
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $89,856
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1801 W 92nd Ave	0.38mi	3/2.0 (-1)	1,152 (0%)	5mo	$132,000	$115	73
9595 Pecos St #203	0.59mi	4/2.0	1,216 (+6%)	1mo	$107,500	$88	62
2551 W 92nd Ave	0.51mi	3/2.0 (-1)	1,120 (-3%)	6mo	$55,000	$49	62
2551 W 92nd	0.51mi	5/2.0 (+1)	1,188 (+3%)	7mo	$100,000	$84	60
1801 W 92nd Ave	0.38mi	3/2.0 (-1)	1,248 (+8%)	6mo	$76,000	$61	59
2551 W 92nd Ave #3	0.51mi	4/2.0	1,216 (+6%)	10mo	$83,900	$69	58
1801 W 92nd Ave	0.38mi	3/2.0 (-1)	1,056 (-8%)	8mo	$54,000	$51	57
2551 W 92nd Ave	0.51mi	3/2.0 (-1)	1,216 (+6%)	7mo	$89,000	$73	56
9595 Pecos Lot 360 St	0.59mi	3/2.0 (-1)	1,152 (0%)	14mo	$90,000	$78	55
2551 W 92 Ave	0.51mi	3/2.0 (-1)	1,232 (+7%)	8mo	$115,000	$93	53
1801 W 92nd Ave #222	0.38mi	3/— (-1)	1,036 (-10%)	10mo	$63,000	$61	52
2551 W 92nd Ave	0.51mi	3/2.0 (-1)	1,024 (-11%)	12mo	$104,200	$102	43

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 · 0.77% rent growth · sell at horizon

5-year hold

• IRR: 74.6%
• Equity multiple: 4.28×
• Total profit: $66,488
• Equity at exit: $10,810

10-year hold

• IRR: 77.8%
• Equity multiple: 8.19×
• Total profit: $145,917
• Equity at exit: $6,268

Cash invested: $20,300 (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 80260

• Rents YoY: 0.8%
• Active inventory: 138
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,192 high
• Mortgage (P&I): −$380
• Tax from tax record: −$17 /mo · $210/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $1,304

Break-even live

Break-even rent $542

Max offer price $72,500

Occupancy floor 36%

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1801 W 92nd Ave #754 Denver, CO	3.0	2.0	1123	$1,995	$1.78	5d	1	0.39mi
9189 Gale Blvd Thornton, CO	1.0–3.0	1.0–2.0	755	$1,699	$2.25	24d	1	0.49mi
9400 Elm Ct #645 Denver, CO	3.0	2.0	1184	$2,203	$1.86	24d	1	0.74mi
8670 Clay St Unit 6301 Westminster, CO	3.0	2.0	1110	$2,325	$2.09	24d	1	0.77mi
8670 Clay St Unit 5201 Westminster, CO	3.0	2.0	1110	$2,550	$2.30	24d	1	0.77mi
8670 Clay St Unit 4211 Westminster, CO	3.0	2.0	1110	$2,186	$1.97	24d	1	0.77mi
8972 Fox Dr Unit 102 Thornton, CO	3.0	2.0	1472	$2,295	$1.56	5d	1	0.77mi
1654 Aspen Meadows Cir Unit Labs Denver, CO	3.0	2.5	1355	$2,400	$1.77	24d	1	0.77mi
8670 Clay St Unit 7219 Westminster, CO	3.0	2.0	1110	$2,373	$2.14	24d	1	0.77mi
9783 Croke Dr Denver, CO	3.0	1.5	1240	$1,999	$1.61	5d	1	1.03mi
747 W 96th Ave Denver, CO	3.0	1.0	864	$1,395	$1.61	5d	1	1.04mi
747 W 96th Ave Denver, CO	3.0	1.0	864	$1,395	$1.61	24d	1	1.04mi
707 W 96th Ave Thornton, CO	3.0	1.0	859	$1,350	$1.57	24d	1	1.06mi
9710 Huron St Unit B Northglenn, CO	3.0	2.0	1292	$2,080	$1.61	18d	1	1.11mi
1921 W 101st Ave Unit 1921 Thornton, CO	3.0	2.5	1335	$2,800	$2.10	14d	1	1.30mi
3323 W 96th Cir Westminster, CO	1.0–3.0	1.0–3.0	1190	$3,339	$2.81	1d	21	1.34mi
10154 Wyandott Cir N Thornton, CO	3.0	2.5	1464	$2,465	$1.68	16d	1	1.38mi
9130 Osceola St Westminster, CO	3.0	2.0	1204	$2,350	$1.95	11d	1	1.46mi
9132 Osceola St Westminster, CO	3.0	2.0	1204	$2,350	$1.95	24d	1	1.46mi

Listing history 4 events

1. 2026-04-24
   status Pending
2. 2026-04-22
   price $72,500
3. 2026-03-19
   price $69,995
4. 2026-03-18
   listed $69,900 Active

ⓘ 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: $210 · $17/mo
• Projected year-2 tax: $399 · $33/mo
• Expected delta: +$189/yr (+$16/mo · 90.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,309
• − Mortgage interest: −$4,061
• − Property taxes: −$210
• − Insurance: −$362
• − Repairs & maintenance: −$2,105
• − Management: −$2,105
• − Depreciation: −$2,109
• Taxable income: $15,357
• Est. tax owed @ 24.0%: −$3,686
• After-tax cash flow: $11,964/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: Adams 12 Five Star Schools
• NCES district ID: 0806900
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $67,478
• Composite: 34.87/100
• National rank: #5086
• State rank: #26 of 86 in CO

Livability — Federal Heights

• Score: 76/100
• State rank: #28
• US rank: #3380

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Federal Heights, CO
• County: Adams County · 464,133 people
• City population: 34,677
• Metro: Denver-Aurora-Lakewood, CO
• Population (ZIP): 34,677
• Household income: $61,852
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 1521.0

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: Majority Hispanic (61%)
• Race & ethnicity: Hispanic / Latino 61% White 30% Two or more races 26% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Romanian 1% Slovak 1% Italian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 53% English-only · Spanish 42% Other Asian/Pacific 2% Other Indo-European 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: ▼ -260.84%
• Current HPI: 285.4552
• Rent YoY: ▲ 0.77%
• 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

Price history

+3.7% since first listed

4 events — show timeline

• 2026-04-24 Pending — IRES
• 2026-04-22 Price Changed $72,500 IRES
• 2026-03-19 Price Changed $69,995 IRES
• 2026-03-18 Listed $69,900 IRES

Property tax history

+2.6%/yr

Latest (2025): $210 · -4.6% YoY. Source: county tax records.