9100 Tejon st Lot 4

Federal Heights, CO 80260

$110,000B-

3 bd · 2.0 ba · 1,050 sqft · Built 2012 · Manufactured · Active · 104 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,858/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$390
• Net cashflow: $807/mo
• Annual: $9,688/yr
• Cap rate: 15.10%
• Cash-on-cash: 31.46%
• DSCR: 2.40
• 1% rule: 1.69%
• Cash to close: $30,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k.
• At list price, monthly cash flow is $807 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• It's been on market 104 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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+, 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.
• Zoned schools: Federal Heights Elementary School (math 2% / reading 8%, grade F, #958 of 966 statewide, top 100%, 414 students, 87% FRL); Northglenn Middle School (math 8% / reading 12%, grade F, #246 of 270 statewide, top 91%, 684 students, 85% FRL); Northglenn High School (math 16% / reading 38%, grade F, #257 of 381 statewide, top 68%, 1,959 students, 69% FRL) — zoned schools average 81% FRL vs 33% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 38% district-wide (-24 pts) — the specific schools serving this property underperform the Adams 12 Five Star Schools average; the district grade overstates school quality for this exact location.
• 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).
• 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 $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 15.1% 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.
• This rent runs 36% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.