Nicola Plan · Parker, CO 80134

$599,950

3 bd · 2.5 ba · 2,211 sqft · MultiFamily · 90 Days on market

Excellent condition

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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 +12.2/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

There's a lot to love about the paired Nicola plan, including two stories of versatile living space. At the heart of the home, you'll find an impressive great room, a powder room, and a well-appointed kitchen showcasing a center island and adjacent covered patio. The second floor offers an airy loft, a laundry, two bedrooms with a shared bath, and a luxurious primary suite boasting a walk-in closet and a private bath with double sinks. Personalize this plan with exciting options like a gourmet kitchen, a deluxe primary bath, and a finished basement with a rec room and bath.

Key facts

• Airy loft
• Double sinks
• Walk-in closet

Tags

• COVERED PATIO
• AIRY LOFT
• WALK-IN CLOSET
• PRIVATE BATH
• DOUBLE SINKS
• GOURMET KITCHEN

Property features AI

Finance

• Other: Listing status: Active
• Financial info: List price: $599,950

Exterior

• Parking: 2 parking spaces
• Home design: New construction plan (Nicola)
• Exterior features: Address: 17158 Bootjack Ln, Parker CO 80134

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Interior features: Open living area of 2211; Plan: Nicola (new construction)

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $600k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $583k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $510k (15.0% below list).
• Recommended offer: $510k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.0% in Parker — 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 81/100 on livability (#7 in CO, #1,304 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Douglas County School District No. RE-1 (suburban): math 45% / reading 62% proficiency, ranked #7 of 86 in CO (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Legacy Point Elementary School (math 44% / reading 47%, grade D-, #268 of 966 statewide, top 28%, 416 students, 9% FRL); Sagewood Middle School (math 27% / reading 47%, grade F, #95 of 270 statewide, top 37%, 824 students, 8% FRL); Ponderosa High School (math 36% / reading 65%, grade D+, #93 of 381 statewide, top 24%, 1,402 students, 0% FRL) — zoned schools at 6% FRL track the district average.
• Market conditions: Rents soft (-0.9%/yr); 774 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 3,131 units permitted in Douglas County in 2024 (950 in 5+ unit buildings).
• This rent runs 42% of the median local income ($147k/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 $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Douglas County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($564k) is reasonable based on typical stale-listing flexibility.

Recommended offer $510,000 (15.0% 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 90 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.84%
• DSCR: 0.96
• GRM: 9.8

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: -21.1%
• Equity multiple: 0.29×
• Total profit: $-119,546
• Equity at exit: $89,454

10-year hold

• IRR: -23.6%
• Equity multiple: -0.02×
• Total profit: $-171,152
• Equity at exit: $51,873

Cash invested: $167,986 (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 80134

• Rents YoY: -0.9%
• Active inventory: 774
• Price-to-rent: 19.6×

Monthly cashflow live

• Estimated rent: $5,100 high
• Mortgage (P&I): −$3,146
• Tax est. 1.5%: −$750 /mo · $8,999/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,071
• Net cashflow: $-117

Break-even live

Break-even rent $5,248

Max offer price $583,003

Occupancy floor 97%

Sensitivity live

Price	-10% $297	-5% $90	+0% $-117	+5% $-324	+10% $-532
Rent	-10% $-520	-5% $-319	+0% $-117	+5% $84	+10% $286
Rate	-1.0pp $185	-0.5pp $35	base $-117	+0.5pp $-273	+1.0pp $-431

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$5,100
Total (2 units)			$5,100

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: $149,988
• Closing costs: $17,998
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13373 Big Iron Ln Parker, CO	3.0	3.0	2563	$3,999	$1.56	16d	1	0.31mi
16664 E Prairie Wind Ave Parker, CO	3.0	2.5	2125	$3,046	$1.43	0d	1	1.49mi

Listing history 14 events

1. 2026-06-21
   days on market $599,950 Active 90 DOM
2. 2026-06-18
   days on market $599,950 Active 87 DOM
3. 2026-06-17
   days on market $599,950 Active 86 DOM
4. 2026-06-16
   days on market $599,950 Active 85 DOM
5. 2026-06-15
   days on market $599,950 Active 84 DOM
6. 2026-06-13
   days on market $599,950 Active 82 DOM
7. 2026-06-10
   days on market $599,950 Active 78 DOM
8. 2026-06-08
   days on market $599,950 Active 77 DOM
9. 2026-06-07
   days on market $599,950 Active 76 DOM
10. 2026-06-04
    days on market $599,950 Active 73 DOM
11. 2026-06-03
    days on market $599,950 Active 72 DOM
12. 2026-06-02
    days on market $599,950 Active 71 DOM
13. 2026-06-01
    days on market $599,950 Active 70 DOM
14. 2026-05-31
    days on market $599,950 Active 69 DOM

ⓘ 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: $61,200
• − Mortgage interest: −$33,607
• − Property taxes: −$8,999
• − Insurance: −$3,000
• − Repairs & maintenance: −$4,896
• − Management: −$4,896
• − Depreciation: −$17,453
• Taxable loss: −$11,651
• Est. tax savings @ 24.0%: +$2,796
• After-tax cash flow: $1,391/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 · 5 photos

Excellent 95/100 None rehab

This paired Nicola plan is in excellent condition with no visible repairs or maintenance needed. The property has a good roof, exterior, and interior, and the landscaping can be improved to enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value
• Both Landscaping the front yard — Improves curb appeal and enhances property value
• Both Adding a small front porch — Enhances curb appeal and provides a welcoming entrance

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping the front yard — Improves curb appeal and enhances property value ↑
• Both Adding a small front porch — Enhances curb appeal and provides a welcoming entrance ↑

ⓘ 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: Douglas County School District No. RE-1
• NCES district ID: 0803450
• Math proficiency: 45% ▼ -3.00%
• Reading proficiency: 62% ▲ 3.00%
• Median HH income: $103,175
• Composite: 50.71/100
• National rank: #1818
• State rank: #7 of 86 in CO

Livability — Parker

• Score: 81/100
• State rank: #7
• US rank: #1304

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parker, CO
• County: Douglas County · 358,815 people
• City population: 117,197
• Metro: Denver-Aurora-Lakewood, CO
• Population (ZIP): 80,302
• Household income: $146,778
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 1267.0

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 400,644 people
• By 2030: 438,441 · +9.4%
• By 2040: 509,940 · +27.3%
• By 2050: 571,695 · +42.7%
• By 2075: 699,992 · +74.7%
• By 2100: 751,119 · +87.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Two or more races 9% Asian 8% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 3% Slovak 3% Portuguese 2%
• Foreign-born: 10% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 3% Other Asian/Pacific 2%

Political lean MEDSL · Douglas

• 2024 margin: Lean R (+7.0) · D 45.3% · R 52.3% · Other 2.4%
• 2008→2024 swing: +10.2pp toward D · 2008: -17.2pp · 2024: -7.0pp
• All cycles: 2024: R+7.0 2020: R+7.2 2016: R+18.1 2012: R+26.5 2008: R+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -261.88%
• Current HPI: 264.7756
• Rent YoY: ▼ -0.89%
• 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