951 Cherry Ave Unit B · Boulder, CO 80304

$187,000

1 bd · 1.0 ba · 578 sqft · SingleFamily · 30 Days on market

Built 2026 Good condition 1,742 sqft lot $275/mo HOA · 12% of rent

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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 +18.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• DSCR +5.9/10.0
• Schools +5.1/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks

CITY OF BOULDER AFFORDABLE HOUSING - Buyer must qualify! Welcome to this lovely, light, bright carriage house-style condo in Ponderosa. This floor plan is open with a lovely deck and mountain views in a wonderful location against the foothills of North Boulder. All brand-new appliances are included. There is a one car garage. Outside your door, the lifestyle builds itself. Miles of trails and open space are steps away for hiking, running, and cycling. Nearby parks, convenient bus access, and North Boulder's beloved neighborhood shops and restaurants mean everything you need is within easy reach - no car required.

Key facts

• Brand new appliances
• Open space
• Nearby parks

Tags

• CARRIAGE HOUSE STYLE
• MOUNTAIN VIEWS
• BRAND NEW APPLIANCES
• MILES OF TRAILS
• OPEN SPACE
• NEARBY PARKS

Property features AI

Finance

• HOA & community: Ponderosa HOA; Monthly HOA fee of $275; HOA covers common amenities, trash, snow removal, management, utilities, and exterior maintenance; Association transfer fee and reserves required

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: City water (meter installed); Public sewer; Natural gas available (Xcel); Electricity available
• Home design: Residential property; Attached property; One level (second floor unit structure type noted); New construction, completed; Faces north (unit B is on north side of unit A which faces Cherry Ave.)
• Construction: Frame construction; Composition roof; New construction
• Exterior features: Minimal flood risk (C rating); Park access (community feature)

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Microwave
• Bedrooms: 1 bedroom (all bedrooms conform)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Open floorplan; Window coverings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $187k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $187k).
• Recommended offer: $184k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 1.7% in Boulder — 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 77/100 on livability (#24 in CO, #2,958 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D+, cost of living F.
• Boulder Valley School District No. Re2 (urban): math 49% / reading 67% proficiency, ranked #6 of 86 in CO (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Foothill Elementary School (math 52% / reading 77%, grade B, #62 of 966 statewide, top 7%, 437 students, 9% FRL); Boulder High School (math 64% / reading 81%, grade B+, #18 of 381 statewide, top 4%, 2,074 students, 28% FRL) — zoned schools at 18% FRL track the district average.
• Market conditions: Rents rising (+1.8%/yr); 258 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,688 units permitted in Boulder County in 2024 (1,136 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.
• Boulder County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Recommended offer $184,195 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is D 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: 1.19% ✓
• Cap rate: 7.47%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.60×
• Total profit: $-20,973
• Equity at exit: $27,882

10-year hold

• IRR: -3.9%
• Equity multiple: 0.76×
• Total profit: $-12,764
• Equity at exit: $16,168

Cash invested: $52,360 (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 80304

• Rents YoY: 1.8%
• Active inventory: 258
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,217 medium
• Mortgage (P&I): −$981
• Tax est. 1.5%: −$234 /mo · $2,805/yr
• Insurance: −$78
• HOA: −$275
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $184

Break-even live

Break-even rent $1,984

Max offer price $187,000

Occupancy floor 87%

Sensitivity live

Price	-10% $313	-5% $249	+0% $184	+5% $120	+10% $55
Rent	-10% $9	-5% $97	+0% $184	+5% $272	+10% $359
Rate	-1.0pp $278	-0.5pp $232	base $184	+0.5pp $136	+1.0pp $86

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4456 Broadway Boulder, CO	2.0	1.0–2.0	670	$2,060	$3.07	14d	4	0.18mi
4560 13th St Boulder, CO	1.0–2.0	1.0–2.5	912	$1,740	$1.91	14d	6	0.24mi
4775 13th St Boulder, CO	4.0	1.0–4.5	1547	$2,809	$1.82	14d	28	0.42mi
4650 Holiday Dr #203 Boulder, CO	1.0	1.0	736	$3,295	$4.48	14d	1	0.43mi

HOA detail

• Monthly dues: $275 · $3,300/yr

Listing history 18 events

1. 2026-06-21
   days on market $187,000 Active 30 DOM
2. 2026-06-18
   days on market $187,000 Active 27 DOM
3. 2026-06-17
   days on market $187,000 Active 26 DOM
4. 2026-06-16
   days on market $187,000 Active 25 DOM
5. 2026-06-15
   days on market $187,000 Active 24 DOM
6. 2026-06-14
   days on market $187,000 Active 22 DOM
7. 2026-06-13
   days on market $187,000 Active 21 DOM
8. 2026-06-10
   days on market $187,000 Active 19 DOM
9. 2026-06-09
   days on market $187,000 Active 18 DOM
10. 2026-06-09
    days on market $187,000 Active 17 DOM
11. 2026-06-07
    days on market $187,000 Active 16 DOM
12. 2026-06-05
    days on market $187,000 Active 13 DOM
13. 2026-06-03
    days on market $187,000 Active 12 DOM
14. 2026-06-02
    days on market $187,000 Active 11 DOM
15. 2026-06-01
    days on market $187,000 Active 10 DOM
16. 2026-05-31
    days on market $187,000 Active 9 DOM
17. 2026-05-30
    days on market $187,000 Active 8 DOM
18. 2026-05-22
    listed $187,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,604
• − Mortgage interest: −$10,475
• − Property taxes: −$2,805
• − Insurance: −$935
• − Repairs & maintenance: −$2,128
• − Management: −$2,128
• − HOA: −$3,300
• − Depreciation: −$5,440
• Taxable loss: −$607
• Est. tax savings @ 24.0%: +$146
• After-tax cash flow: $2,355/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.

Condition & rehab AI · 25 photos

Good 80/100 Cosmetic rehab

This property is in excellent condition with new appliances and fixtures, making it move-in ready. It offers a good investment opportunity with potential for rental or resale value enhancement through minor exterior and interior updates.

Value-add opportunities

• Both Painting exterior — Enhances curb appeal and value
• Both Landscaping — Improves curb appeal and value
• Both New flooring in bathrooms — Enhances aesthetics and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and value ↑
• Both New flooring in bathrooms — Enhances aesthetics and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Boulder Valley School District No. Re2
• NCES district ID: 0802490
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 67% ▲ 4.00%
• Median HH income: $70,395
• Composite: 51.3/100
• National rank: #1747
• State rank: #6 of 86 in CO

Livability — Boulder

• Score: 77/100
• State rank: #24
• US rank: #2958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boulder, CO
• County: Boulder County · 271,666 people
• City population: 121,246
• Metro: Boulder, CO
• Population (ZIP): 25,383
• Household income: $126,558
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 891.0

Population outlook (Boulder County) Hauer SSP2

• Today (2025): 380,833 people
• By 2030: 412,028 · +8.2%
• By 2040: 472,764 · +24.1%
• By 2050: 532,029 · +39.7%
• By 2075: 679,723 · +78.5%
• By 2100: 766,278 · +101.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 4% Romanian 4% Slovak 3%
• Foreign-born: 12% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% German/W. Germanic 1%

Political lean MEDSL · Boulder

• 2024 margin: Solid D (+55.8) · D 76.5% · R 20.8% · Other 2.7%
• 2008→2024 swing: +9.6pp toward D · 2008: 46.1pp · 2024: 55.8pp
• All cycles: 2024: D+55.8 2020: D+56.6 2016: D+48.6 2012: D+41.5 2008: D+46.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1111.31%
• Current HPI: 324.6478
• Rent YoY: ▲ 1.82%
• Metro: Boulder, 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

• 2026-05-22 Listed $187,000 IRES