45883 Mill Ave · Bennett, CO 80102

$492,400

4 bd · 3.0 ba · 2,211 sqft · SingleFamily public records · 112 Days on market

Built 2026 5,000 sqft lot $100/mo HOA · 3% 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).

• Appreciation +10.0/10.0
• Cash flow +8.4/30.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Schools +2.1/10.0
• 1% rule +1.8/10.0

Listing remarks MLS

**Eligible for rates as low as 3.75% when using builder's preferred lender - terms and conditions apply - ask for details*******Contact Lennar today about Special Financing for this home - terms and conditions apply** Anticipated Completion March 2026! Feel right at home in this beautiful Oliver 2-story floorplan located in Muegge. Featuring 4 beds, 2.5 baths, great room, kitchen, study and 2 car garage. Beautiful upgrades and finishes throughout including luxury vinyl plank flooring, stainless steel appliances and more. The builder provides the latest in energy efficiency and state of the art technology with several fabulous floor plans to choose from. What some builders consider high-end upgrades, this builder makes a standard inclusion. Muegge Farms offers single family homes for every lifestyle. Close to dining, shopping, entertainment and other amenities. Come see what you have been missing today! Welcome home! Association information provided is for the metro district.

Key facts

• 5,000 sq ft lot
• 2 garage spots
• Built 2026

🏗️ New construction. The $492,400 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $499,686.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $492k.

Deal economics

• At list price, monthly cash flow is $-446 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $421k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $341k (30.7% below list).
• Recommended offer: $341k (30.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#263 in CO) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A-; Watch: cost of living D+, amenities F, commute F.
• Bennett School District No. 29J (rural): math 13% / reading 31% proficiency, ranked #69 of 86 in CO (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bennett Preschool (71 students, 11% FRL); Bennett Middle School (math 8% / reading 42%, grade F, #168 of 270 statewide, top 63%, 304 students, 38% FRL); Bennett High School (math 22% / reading 47%, grade F, #209 of 381 statewide, top 56%, 427 students, 25% FRL) — zoned schools at 25% FRL track the district average.
• Market conditions: 213 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,299 units permitted in Adams County in 2024 (343 in 5+ unit buildings).

Forward outlook

• In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Adams County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($448k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $341,027 (30.7% 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 112 days. Have you received any prior offers? Is the seller open to a 31% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.68% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.82%
• DSCR: 0.83
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $499,686
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45907 Mill Ave	0.03mi	4/3.0	2,184 (-1%)	1mo	$489,350	$224	96
45824 Silverdrop Ave	0.13mi	3/3.0 (-1)	2,222 (+0%)	0mo	$480,000	$216	88
45894 Mill Ave	0.03mi	5/3.0 (+1)	2,112 (-4%)	0mo	$465,250	$220	86
45878 Mill Ave	0.03mi	5/3.0 (+1)	2,112 (-4%)	1mo	$489,900	$232	85
45956 Wood Thrush Ave	0.17mi	3/3.0 (-1)	2,218 (+0%)	2mo	$500,950	$226	85
45862 Mill Ave	0.04mi	5/3.0 (+1)	2,112 (-4%)	3mo	$485,000	$230	83
365 Wildflower Ct	0.09mi	5/3.0 (+1)	2,112 (-4%)	0mo	$468,900	$222	83
231 Sage Grouse Way	0.13mi	4/3.0	2,407 (+9%)	3mo	$527,050	$219	77
45886 Mill Ave	0.03mi	4/3.0	1,880 (-15%)	1mo	$451,400	$240	73
45935 Gentry Ave	0.21mi	3/3.0 (-1)	2,407 (+9%)	2mo	$514,950	$214	69
46538 Sunrise Ct	0.69mi	3/3.0 (-1)	2,141 (-3%)	0mo	$499,900	$233	57
46589 Sunflower Ln	0.48mi	3/3.0 (-1)	1,944 (-12%)	1mo	$459,390	$236	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.5%
• Equity multiple: 2.74×
• Total profit: $243,605
• Equity at exit: $450,157

10-year hold

• IRR: 19.4%
• Equity multiple: 6.28×
• Total profit: $739,426
• Equity at exit: $970,780

Cash invested: $139,912 (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 80102

• Home prices YoY: 3.1%
• Active inventory: 213
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $3,410 medium
• Mortgage (P&I): −$2,620
• Tax from tax record: −$211 /mo · $2,536/yr
• Insurance: −$208
• HOA: −$100
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $-446

Break-even live

Break-even rent $3,975

Max offer price $420,924

Occupancy floor —

Sensitivity live

Price	-10% $-163	-5% $-304	+0% $-446	+5% $-587	+10% $-729
Rent	-10% $-715	-5% $-581	+0% $-446	+5% $-311	+10% $-176
Rate	-1.0pp $-194	-0.5pp $-319	base $-446	+0.5pp $-575	+1.0pp $-707

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: $124,922
• Closing costs: $14,991
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Racer St Bennett, CO	4.0	3.0	2536	$3,500	$1.38	26d	1	0.27mi
239 Adams St Bennett, CO	3.0	2.5	1653	$3,000	$1.81	26d	1	1.05mi

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 20 events

1. 2026-06-22
   days on market $492,400 Active 112 DOM
2. 2026-06-21
   days on market $492,400 Active 111 DOM
3. 2026-06-18
   days on market $492,400 Active 108 DOM
4. 2026-06-17
   days on market $492,400 Active 107 DOM
5. 2026-06-16
   days on market $492,400 Active 106 DOM
6. 2026-06-15
   days on market $492,400 Active 105 DOM
7. 2026-06-13
   days on market $492,400 Active 103 DOM
8. 2026-06-13
   pricedays on market $492,400 Active 102 DOM
9. 2026-06-09
   days on market $474,900 Active 99 DOM
10. 2026-06-08
    days on market $474,900 Active 98 DOM
11. 2026-06-07
    pricedays on market $474,900 Active 97 DOM
12. 2026-06-04
    days on market $488,350 Active 94 DOM
13. 2026-06-03
    days on market $488,350 Active 93 DOM
14. 2026-06-02
    days on market $488,350 Active 92 DOM
15. 2026-06-01
    days on market $488,350 Active 91 DOM
16. 2026-05-31
    days on market $488,350 Active 90 DOM
17. 2026-02-13
    status Pending 992-char remark

    Show marketing remark (992 chars)

    **Eligible for rates as low as 3.75% when using builder's preferred lender - terms and conditions apply - ask for details*******Contact Lennar today about Special Financing for this home - terms and conditions apply** Anticipated Completion March 2026! Feel right at home in this beautiful Oliver 2-story floorplan located in Muegge. Featuring 4 beds, 2.5 baths, great room, kitchen, study and 2 car garage. Beautiful upgrades and finishes throughout including luxury vinyl plank flooring, stainless steel appliances and more. The builder provides the latest in energy efficiency and state of the art technology with several fabulous floor plans to choose from. What some builders consider high-end upgrades, this builder makes a standard inclusion. Muegge Farms offers single family homes for every lifestyle. Close to dining, shopping, entertainment and other amenities. Come see what you have been missing today! Welcome home! Association information provided is for the metro district.

18. 2026-02-13
    status Pending 992-char remark

    Show marketing remark (992 chars)

    **Eligible for rates as low as 3.75% when using builder's preferred lender - terms and conditions apply - ask for details*******Contact Lennar today about Special Financing for this home - terms and conditions apply** Anticipated Completion March 2026! Feel right at home in this beautiful Oliver 2-story floorplan located in Muegge. Featuring 4 beds, 2.5 baths, great room, kitchen, study and 2 car garage. Beautiful upgrades and finishes throughout including luxury vinyl plank flooring, stainless steel appliances and more. The builder provides the latest in energy efficiency and state of the art technology with several fabulous floor plans to choose from. What some builders consider high-end upgrades, this builder makes a standard inclusion. Muegge Farms offers single family homes for every lifestyle. Close to dining, shopping, entertainment and other amenities. Come see what you have been missing today! Welcome home! Association information provided is for the metro district.

19. 2025-11-18
    listed $509,900 Active 992-char remark

    Show marketing remark (992 chars)

    **Eligible for rates as low as 3.75% when using builder's preferred lender - terms and conditions apply - ask for details*******Contact Lennar today about Special Financing for this home - terms and conditions apply** Anticipated Completion March 2026! Feel right at home in this beautiful Oliver 2-story floorplan located in Muegge. Featuring 4 beds, 2.5 baths, great room, kitchen, study and 2 car garage. Beautiful upgrades and finishes throughout including luxury vinyl plank flooring, stainless steel appliances and more. The builder provides the latest in energy efficiency and state of the art technology with several fabulous floor plans to choose from. What some builders consider high-end upgrades, this builder makes a standard inclusion. Muegge Farms offers single family homes for every lifestyle. Close to dining, shopping, entertainment and other amenities. Come see what you have been missing today! Welcome home! Association information provided is for the metro district.

20. 2025-11-18
    listed $509,900 Active 992-char remark

    Show marketing remark (992 chars)

    **Eligible for rates as low as 3.75% when using builder's preferred lender - terms and conditions apply - ask for details*******Contact Lennar today about Special Financing for this home - terms and conditions apply** Anticipated Completion March 2026! Feel right at home in this beautiful Oliver 2-story floorplan located in Muegge. Featuring 4 beds, 2.5 baths, great room, kitchen, study and 2 car garage. Beautiful upgrades and finishes throughout including luxury vinyl plank flooring, stainless steel appliances and more. The builder provides the latest in energy efficiency and state of the art technology with several fabulous floor plans to choose from. What some builders consider high-end upgrades, this builder makes a standard inclusion. Muegge Farms offers single family homes for every lifestyle. Close to dining, shopping, entertainment and other amenities. Come see what you have been missing today! Welcome home! Association information provided is for the metro district.

ⓘ 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: $2,536 · $211/mo
• Projected year-2 tax: $2,708 · $226/mo
• Expected delta: +$172/yr (+$14/mo · 6.8%)

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

Taxation est. · year 1

• Rental income: $40,923
• − Mortgage interest: −$27,990
• − Property taxes: −$2,536
• − Insurance: −$2,498
• − Repairs & maintenance: −$3,274
• − Management: −$3,274
• − HOA: −$1,200
• − Depreciation: −$14,536
• Taxable loss: −$14,386
• Est. tax savings @ 24.0%: +$3,453
• After-tax cash flow: $-1,898/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: Bennett School District No. 29J
• NCES district ID: 0802430
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $69,795
• Composite: 21.39/100
• National rank: #8353
• State rank: #69 of 86 in CO

Livability — Bennett

• Score: 59/100
• State rank: #263
• US rank: #19691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bennett, CO
• City population: 5,994
• Population (ZIP): 5,994

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 21% Two or more races 11% Black 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Serbian 4% Italian 3% Lithuanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 1% Chinese 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: ▲ 14.94%
• Current HPI: 494.39
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

4 events — show timeline

• 2026-02-13 Pending — IRES
• 2026-02-13 Pending — REColorado as Distributed by MLS Grid
• 2025-11-18 Listed $509,900 REColorado as Distributed by MLS Grid
• 2025-11-18 Listed $509,900 IRES

Property tax history

+38445.3%/yr

Latest (2025): $2,536 · +38445.3% YoY. Source: county tax records.