9100 Tejon St Lot 88 · Federal Heights, CO 80260

$135,000

3 bd · 2.0 ba · 1,050 sqft · Manufactured public records · 270 Days on market

Built 2013

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• 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

Heating Forced air Cooling Central Exterior features: Wood Details Parcel number: M0017916

Key facts

• Wood
• Forced air
• Central

Tags

• FORCED AIR
• CENTRAL
• WOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 36% 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 $933 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 270 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 270 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.38% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.12%
• DSCR: 1.94
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $54,600
• 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	1,056 (+1%)	8mo	$54,000	$51	75
1801 W 92nd Ave #471	0.38mi	2/2.0 (-1)	1,064 (+1%)	3mo	$34,000	$32	73
1801 W 92nd Ave #222	0.38mi	3/—	1,036 (-1%)	10mo	$63,000	$61	72
1801 W 92nd Ave #218	0.38mi	2/2.0 (-1)	1,024 (-2%)	2mo	$33,000	$32	71
1801 W 92nd Ave	0.38mi	2/2.0 (-1)	1,024 (-2%)	4mo	$55,000	$54	70
1801 W 92nd Ave	0.38mi	2/2.0 (-1)	1,024 (-2%)	5mo	$47,000	$46	69
1801 W 92nd Ave #625	0.38mi	2/2.0 (-1)	1,056 (+1%)	14mo	$27,000	$26	65
2551 W 92nd Ave	0.51mi	3/2.0	1,024 (-2%)	12mo	$104,200	$102	62
1801 W 92nd Ave	0.38mi	3/2.0	1,152 (+10%)	5mo	$132,000	$115	62
2551 W 92nd Ave	0.51mi	3/2.0	1,120 (+7%)	6mo	$55,000	$49	60
1801 W 92nd Ave #375	0.38mi	2/— (-1)	960 (-9%)	11mo	$65,000	$68	54
2800 W 90th Ave	0.65mi	2/2.0 (-1)	960 (-9%)	0mo	$49,500	$52	50

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: 11.2%
• Equity multiple: 1.43×
• Total profit: $16,366
• Equity at exit: $20,129

10-year hold

• IRR: 18.5%
• Equity multiple: 2.39×
• Total profit: $52,599
• Equity at exit: $11,672

Cash invested: $37,800 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,858 high
• Mortgage (P&I): −$708
• Tax from tax record: −$38 /mo · $457/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $665

Break-even live

Break-even rent $1,016

Max offer price $135,000

Occupancy floor 59%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 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
9151 Fontaine St Denver, CO	2.0	1.0	700	$1,313	$1.88	3d	1	0.49mi
9189 Gale Blvd Thornton, CO	1.0–3.0	1.0–2.0	755	$1,699	$2.25	24d	1	0.49mi
8778 Osage St Thornton, CO	2.0	2.0	960	$1,495	$1.56	24d	1	0.52mi
8778 Osage St Thornton, CO	2.0	1.0	949	$1,495	$1.58	22d	1	0.52mi
8675 Mariposa St Thornton, CO	2.0	2.0	960	$1,487	$1.55	24d	1	0.63mi
9050 N Elm Ct Unit 1 Federal Heights, CO	2.0	1.0	912	$1,745	$1.91	5d	1	0.66mi
1401 W 85th Ave Federal Heights, CO	2.0	2.0–2.5	909	$1,650	$1.81	5d	4	0.67mi
1800 W 85th Ave Denver, CO	1.0–2.0	1.0–2.0	798	$1,609	$2.02	2d	45	0.69mi
1300 Milky Way Thornton, CO	1.0–2.0	1.0–2.0	826	$1,595	$1.93	2d	21	0.69mi
8901 Huron St Thornton, CO	1.0–2.0	1.0	729	$1,764	$2.42	4d	5	0.70mi
1183 Milky Way Thornton, CO	2.0	1.5	1200	$2,147	$1.79	15d	1	0.72mi
8705 Santa Fe Dr Thornton, CO	2.0	1.5	1048	$1,850	$1.77	24d	1	0.72mi
9400 Elm Ct #645 Denver, CO	3.0	2.0	1184	$2,203	$1.86	24d	1	0.74mi
8670 Clay St Unit 7317 Westminster, CO	2.0	2.0	1111	$2,054	$1.85	24d	1	0.76mi
8670 Clay St Unit 5307 Westminster, CO	2.0	2.0	951	$1,891	$1.99	5d	1	0.76mi
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 5309 Westminster, CO	2.0	2.0	1111	$2,206	$1.99	24d	1	0.77mi
8670 Clay St Unit 4312 Westminster, CO	2.0	1.0	1038	$1,891	$1.82	24d	1	0.77mi
8670 Clay St Unit 5107 Westminster, CO	2.0	2.0	951	$1,891	$1.99	24d	1	0.77mi
8670 Clay St Unit 7309 Westminster, CO	2.0	2.0	951	$1,761	$1.85	24d	1	0.77mi
8670 Clay St Unit 7220 Westminster, CO	2.0	1.0	1038	$1,761	$1.70	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
700 W 91st Ave Thornton, CO	1.0–2.0	1.0–2.0	857	$2,082	$2.43	3d	12	0.79mi
9081 Federal Blvd Westminster, CO	2.0	1.0	855	$1,466	$1.72	3d	3	0.83mi
8865 Federal Blvd #202 Denver, CO	2.0	1.0	1067	$1,700	$1.59	11d	1	0.87mi
647 W 91st Ave Denver, CO	1.0–2.0	1.0	750	$1,525	$2.03	2d	6	0.88mi
2740 W 86th Ave Westminster, CO	2.0	1.0	1000	$1,565	$1.56	3d	2	0.89mi
8900 Fox Dr #6 Thornton, CO	2.0	2.0	1310	$1,900	$1.45	11d	1	0.90mi
8910 Fox Dr #14 Thornton, CO	2.0	2.0	1108	$1,950	$1.76	18d	1	0.91mi
8330 Zuni St #206 Denver, CO	2.0	1.0	800	$1,580	$1.98	24d	1	0.96mi
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	24d	1	1.04mi
747 W 96th Ave Denver, CO	3.0	1.0	864	$1,395	$1.61	5d	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

Listing history 15 events

1. 2026-06-18
   days on market $135,000 Active 270 DOM
2. 2026-06-17
   days on market $135,000 Active 269 DOM
3. 2026-06-16
   days on market $135,000 Active 268 DOM
4. 2026-06-15
   days on market $135,000 Active 267 DOM
5. 2026-06-13
   days on market $135,000 Active 265 DOM
6. 2026-06-13
   days on market $135,000 Active 264 DOM
7. 2026-06-09
   days on market $135,000 Active 261 DOM
8. 2026-06-08
   days on market $135,000 Active 260 DOM
9. 2026-06-07
   days on market $135,000 Active 259 DOM
10. 2026-06-04
    days on market $135,000 Active 256 DOM
11. 2026-06-03
    days on market $135,000 Active 255 DOM
12. 2026-06-02
    days on market $135,000 Active 254 DOM
13. 2026-06-01
    days on market $135,000 Active 253 DOM
14. 2026-05-31
    days on market $135,000 Active 252 DOM
15. 2025-09-19
    listed $135,000 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: $457 · $38/mo
• Projected year-2 tax: $742 · $62/mo
• Expected delta: +$286/yr (+$24/mo · 62.5%)

ⓘ 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: $22,292
• − Mortgage interest: −$7,562
• − Property taxes: −$457
• − Insurance: −$675
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$3,927
• Taxable income: $6,104
• Est. tax owed @ 24.0%: −$1,465
• After-tax cash flow: $6,518/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

1 event — show timeline

• 2025-09-19 Listed $135,000 Fizber.com

Property tax history

+16.2%/yr

Latest (2025): $457 · +356.3% YoY. Source: county tax records.