Property Overview
This property is a solid 2-story home in the Hampden Hills section of Aurora. A big selling point here is that it’s located in the Cherry Creek Schools section of Aurora. The house features a 4-bed, 3-bath layout with 2,275 sq. ft. There is a 2-car attached garage, and it sits on a 5,140 sq. ft. lot.
The layout is typical of this era: enter the front door into the living room space with high vaulted ceilings. To the left is the open-concept kitchen and dining area. At the back of the main level are two of the bedrooms and a full bath. The second floor is dedicated to the master bedroom suite, which includes a very large bedroom, a full ensuite bath, and good closet space. Sliding doors lead to a small deck off the master bedroom. The basement consists of a large family room, a 3/4 bath, the fourth bedroom, and a utility/storage room.
The good news is that this home has undergone several updates in the past year. The roof and skylights have been redone, the furnace and central A/C are new, the water heater is new, and the entire house has new Hardy siding and a fresh coat of paint, according to the seller. That’s a lot of big-ticket items you won’t need to worry about.
As mentioned, the schools here belong to the Cherry Creek 5 district, and the taxes for 2023 were $2,335.
Neighborhood: Hampden Hills is a nice area in Aurora that is popular due to the ability to get a very nice house for under $600K in the Cherry Creek school district. It is also close to shopping and other amenities. It's near Cherry Creek State Park, the Tech Center, and downtown. Light Rail and freeway access are also close by.
Video Walkthrough
Even though a lot has been done to this house, there is still much to do, mostly on the inside. We're budgeting $74K to make the necessary updates. On the exterior, the siding and paint are new as of the last couple of months, according to the seller, so unless you want to change the color, that part is good. The roof and skylights were replaced less than a year ago. The windows appear to be original, and we're budgeting to replace them all, along with both sliding patio doors. The deck off the dining area seems beyond saving, so whether you replace it with another deck or opt for a concrete slab patio is up to you. The deck off the master bedroom also needs some attention.
The yard isn't too bad, but we're budgeting some funds for general sprucing up. There is also a Federal Pacific panel that will need replacement. The interior requires a full cosmetic renovation. You'll need to paint throughout, including some drywall repairs. You'll also need all-new flooring. The kitchen could use a full renovation (note: the existing fridge is excluded from the sale, so unless it won’t fit in the seller's new house, it will be leaving). All of the bathrooms require complete renovations.
The furnace, central A/C unit, and water heater are all new within the last year, according to the seller. We've added a fair cushion to the budget, so a flipper who can stick to a tight budget and timeline should be able to complete this project for less than $74K.
Total Budget: $74,200
The finished product will be a completely remodeled home. As you look at the comps, you'll see that the majority are either not updated or have had only some updates over the years, but there are very few that are complete renovations. This is a great project, and the timing is ideal to finish it and get it on the market at the start of spring. Unless you want to add another bedroom in the basement, the layout will stay the same, and you'll have a 4-bed, 3-bath home with 2,275 sq. ft.
The roof, furnace, central A/C, water heater, siding, and exterior paint have all been replaced within the last 12 months, according to the seller.
Closing is scheduled for 01/09/2025.
Seller may need up to 5 days post-closing occupancy. For a 01/13/25 closing, possession is due by 5:00 PM on 2/19/25. $5,000 escrow will be returned if possession is on time; otherwise, $300/day rent starts 01/13/2025. Terms adjust for a new closing date.Seller may request an earlier closing (as early as 1/6/25) with 10 business days’ notice.
Kitchen refrigerator excluded.
4 Beds, 3 baths, 2,275 Sq Ft
19183 E Hampden Drive, Aurora, CO 80013 Zillow
This property closed on 10/21 for $515,000. It features 3 bedrooms, 3 bathrooms, and 2,408 square feet total, yet only 1,500 sq ft of the property is finished sq ft (basement unfinished). While small portions of the house have been updated (primary bathroom as an example), most of the house remains dated, yet clean. This fact is an indicator that the ARV on the subject property could be higher, given the lack of finished sq ft compared to the subject property and the dated aspects of the house. While located in a different subdivision, the neighborhood is comparable to the subject property and remains within the same school district.
3603 S Flanders Street, Aurora, CO 80013 Zillow
Our next comp is a little older, but it's also a house that's 2 doors down from our subject. This one is a 4 bed, 4 bath, 2-story layout with 2366 total sq ft. In terms of condition, this house is a mix of a few things that have been updated, plus lots of other original and dated stuff...so it's nowhere in the ballpark of what our subject will be after a full renovation. The 4th bathroom in this comp is a powder room on the main level. This one has a 2-car attached garage and it sits on a 5227 sq ft lot, roughly the same size as our subject. This comp sold back on 7/18/24 for $531,000 and there was a concession of 5k paid by the seller.
3599 S Halifax Way, Aurora, CO 80013 Zillow
Because there aren't many recent comps, we're having to go back a bit to find properties in the same general size range as our subject. This next comp is a 4-bed, 3-bath, tri-level layout with 1,840 sq. ft. It has a 2-car garage and a 7,362 sq. ft. lot. This comp features a mix of some nice updates and several dated elements. In terms of bed and bath count, it's the same as our subject at 4/3. However, there is a significant size difference, with our subject being 435 sq. ft. larger. This comp sold on 5/1/24 for $511,000, with no seller concessions.
