4460 S Pitkin St #115 · Aurora, CO 80015

$215,000

1 bd · 1.0 ba · 728 sqft · Condo public records · 91 Days on market

Built 1984 $399/mo HOA · 19% of rent

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Why this score? — see what drove the D 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 +12.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• Schools +4.4/10.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this comfortable, completely professionally renovated condo offering modern style, abundant natural light, and smart functionality. Recent updates include a new water heater, new fixtures, granite countertops, a fully renovated kitchen and bathroom, a cozy electric fireplace, and a new back door. Built-in storage space adds everyday convenience, while the bright, refreshed interior makes this home truly move-in ready. From the balcony, you have a distant view of Quincy Reservoir.

Key facts

• $399 HOA
• 4 parking spots
• Built 1984

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Meadow Point Condos (professionally managed); Monthly HOA fee of $399 (includes reserves, grounds and structure maintenance, sewer, snow removal, trash, and water)

Exterior

• Parking: 4 off-street parking spaces (total parking 4)
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); Low-rise building (1–3 stories); One level; entry level 1; 2+ common walls; Individual ownership
• Construction: Frame construction; Shingle roof
• Exterior features: Balcony; Covered patio/porch; Paved road frontage (public)

Interior

• Kitchen: Completely renovated kitchen (2026); Dishwasher; Disposal; Microwave; Oven
• Bedrooms: 1 bedroom on the main level (primary suite)
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom on the main level (completely renovated 2026)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Granite counters; Open floor plan; Smoke-free; Electric fireplace in living room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-41 ($-486/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (1.5% below list).
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 3.3% in Aurora — 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 72/100 on livability (#70 in CO) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: crime F, cost of living F.
• Cherry Creek School District No. 5 In The County Of Arapah (urban): math 40% / reading 58% proficiency, ranked #11 of 86 in CO (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Meadow Point Elementary School (math 5% / reading 17%, grade F, #879 of 966 statewide, top 94%, 400 students, 53% FRL); Falcon Creek Middle School (math 37% / reading 47%, grade D-, #69 of 270 statewide, top 27%, 687 students, 31% FRL); Grandview High School (math 53% / reading 80%, grade B, #28 of 381 statewide, top 7%, 2,774 students, 22% FRL).
• Market conditions: Rents soft (-2.4%/yr); 272 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 3,927 units permitted in Arapahoe County in 2024 (1,525 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 91 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $126k; list at $215k implies a 71% gain — meaningful room to come down on a strong offer.

Recommended offer $195,650 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.81%
• DSCR: 0.96
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.5%
• Equity multiple: 0.28×
• Total profit: $-43,455
• Equity at exit: $32,057

10-year hold

• IRR: -26.6%
• Equity multiple: -0.07×
• Total profit: $-64,448
• Equity at exit: $18,589

Cash invested: $60,200 (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 80015

• Rents YoY: -2.4%
• Active inventory: 272
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,118 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$97 /mo · $1,168/yr
• Insurance: −$90
• HOA: −$399
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $-41

Break-even live

Break-even rent $2,169

Max offer price $207,840

Occupancy floor 97%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4496 S Pagosa Cir Aurora, CO	2.0	2.0	732	$2,195	$3.00	24d	1	0.11mi
4404 S Hannibal Way Aurora, CO	1.0–2.0	1.0	721	$1,250	$1.73	24d	1	1.19mi

HOA detail condo

• Monthly dues: $399 · $4,788/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $215,000 Active 91 DOM
2. 2026-06-17
   days on market $215,000 Active 90 DOM
3. 2026-06-16
   days on market $215,000 Active 89 DOM
4. 2026-06-15
   days on market $215,000 Active 88 DOM
5. 2026-06-13
   days on market $215,000 Active 86 DOM
6. 2026-06-13
   days on market $215,000 Active 85 DOM
7. 2026-06-10
   days on market $215,000 Active 82 DOM
8. 2026-06-08
   days on market $215,000 Active 81 DOM
9. 2026-06-07
   days on market $215,000 Active 80 DOM
10. 2026-06-04
    days on market $215,000 Active 77 DOM
11. 2026-06-03
    days on market $215,000 Active 76 DOM
12. 2026-06-02
    days on market $215,000 Active 75 DOM
13. 2026-06-01
    days on market $215,000 Active 74 DOM
14. 2026-05-31
    days on market $215,000 Active 73 DOM
15. 2026-03-19
    listed $215,000 Active 500-char remark

    Show marketing remark (500 chars)

    Welcome home to this comfortable, completely professionally renovated condo offering modern style, abundant natural light, and smart functionality. Recent updates include a new water heater, new fixtures, granite countertops, a fully renovated kitchen and bathroom, a cozy electric fireplace, and a new back door. Built-in storage space adds everyday convenience, while the bright, refreshed interior makes this home truly move-in ready. From the balcony, you have a distant view of Quincy Reservoir.

16. 2026-03-19
    listed $215,000 Active 500-char remark

    Show marketing remark (500 chars)

    Welcome home to this comfortable, completely professionally renovated condo offering modern style, abundant natural light, and smart functionality. Recent updates include a new water heater, new fixtures, granite countertops, a fully renovated kitchen and bathroom, a cozy electric fireplace, and a new back door. Built-in storage space adds everyday convenience, while the bright, refreshed interior makes this home truly move-in ready. From the balcony, you have a distant view of Quincy Reservoir.

17. 2026-03-16
    historical $215,000 500-char remark

    Show marketing remark (500 chars)

    Welcome home to this comfortable, completely professionally renovated condo offering modern style, abundant natural light, and smart functionality. Recent updates include a new water heater, new fixtures, granite countertops, a fully renovated kitchen and bathroom, a cozy electric fireplace, and a new back door. Built-in storage space adds everyday convenience, while the bright, refreshed interior makes this home truly move-in ready. From the balcony, you have a distant view of Quincy Reservoir.

18. 2017-08-07
    soldstatus $125,500
19. 2017-08-04
    soldstatus $125,500 Sold 383-char remark

    Show marketing remark (383 chars)

    Granite counter tops, new carpet, paint, and included washer and dryer make this beauty move-in and enjoyable right away. Plus the new expanded deck adds a relaxing outside room with view of Quincy Reservoir. The huge crawl space provides tons of storage for your belongings. Have a fur buddy? Grandview Dog Park is a short walk away. Cherry Creek Schools. Need I say hurry to see?

20. 2017-07-04
    status Under Contract 383-char remark

    Show marketing remark (383 chars)

    Granite counter tops, new carpet, paint, and included washer and dryer make this beauty move-in and enjoyable right away. Plus the new expanded deck adds a relaxing outside room with view of Quincy Reservoir. The huge crawl space provides tons of storage for your belongings. Have a fur buddy? Grandview Dog Park is a short walk away. Cherry Creek Schools. Need I say hurry to see?

21. 2017-07-01
    listed $125,000 Active 383-char remark

    Show marketing remark (383 chars)

    Granite counter tops, new carpet, paint, and included washer and dryer make this beauty move-in and enjoyable right away. Plus the new expanded deck adds a relaxing outside room with view of Quincy Reservoir. The huge crawl space provides tons of storage for your belongings. Have a fur buddy? Grandview Dog Park is a short walk away. Cherry Creek Schools. Need I say hurry to see?

22. 2000-03-07
    soldstatus $59,990
23. 1998-05-07
    soldstatus $41,000
24. 1989-07-25
    soldstatus $11,000

ⓘ 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: $1,168 · $97/mo
• Projected year-2 tax: $1,182 · $99/mo
• Expected delta: +$14/yr (+$1/mo · 1.2%)

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

Taxation est. · year 1

• Rental income: $25,411
• − Mortgage interest: −$12,043
• − Property taxes: −$1,168
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − HOA: −$4,788
• − Depreciation: −$6,255
• Taxable loss: −$3,984
• Est. tax savings @ 24.0%: +$956
• After-tax cash flow: $470/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: Cherry Creek School District No. 5 In The County Of Arapah
• NCES district ID: 0802910
• Math proficiency: 40% ▼ -4.00%
• Reading proficiency: 58% ▲ 5.00%
• Median HH income: $73,326
• Composite: 44.12/100
• National rank: #2866
• State rank: #11 of 86 in CO

Livability — Aurora

• Score: 72/100
• State rank: #70
• US rank: #6441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aurora, CO
• County: Arapahoe County · 715,018 people
• City population: 397,430
• Metro: Denver-Aurora-Lakewood, CO
• Population (ZIP): 72,316
• Household income: $124,702
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 1012.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 61% Hispanic / Latino 16% Two or more races 11% Black 9% Asian 9%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Italian 4% Lithuanian 2% Romanian 2%
• Foreign-born: 15% · Canada, South Korea, China
• Languages at home: 79% English-only · Spanish 8% Other Indo-European 2% Korean 2%

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: ▼ -235.01%
• Current HPI: 252.5903
• Rent YoY: ▼ -2.37%
• 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

+1854.5% since first listed

10 events — show timeline

• 2026-03-19 Listed $215,000 IRES
• 2026-03-19 Listed $215,000 REColorado as Distributed by MLS Grid
• 2026-03-16 Coming Soon $215,000 REColorado as Distributed by MLS Grid
• 2017-08-07 Sold (Public Records) $125,500 Public Records
• 2017-08-04 Sold (MLS) $125,500 REColorado as Distributed by MLS Grid
• 2017-07-04 Pending — REColorado as Distributed by MLS Grid
• 2017-07-01 Listed $125,000 REColorado as Distributed by MLS Grid
• 2000-03-07 Sold (Public Records) $59,990 Public Records
• 1998-05-07 Sold (Public Records) $41,000 Public Records
• 1989-07-25 Sold (Public Records) $11,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,168 · +46.8% YoY. Source: county tax records.