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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
High-rise multifamily apartments
860 Split Rock Rd Bennett, CO 80102-8708
Individually Owned
6-yr Hold
Property ID
US13-0230155
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1973
Construction
FRAME
Total area
1,919 SF
Lot
19.55 ac (851,598 SF)
Zoning code
AA1
APN
1979-00-0-00-205
UPID
US13-0230155
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$699k
Blend (final)
Blend
$700k
Owner & transaction history
Todd D Lutz · 6 yrs held
Todd D Lutz
since 2020
7 recorded transactions
Zoning & alternative use
AA1 · Bennett, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$800,000
+43.2%
Retail stores
$670,000
+20.4%
Neighborhood: shopping center
$665,000
+19.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bennett submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bennett submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$555,000
Current use
AUTO REPAIR, GARAGE
$800,000
Change: +43% · Conversion: Difficult
RETAIL STORES
$670,000
Change: +20% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$665,000
Change: +19% · Conversion: Difficult
MEDICAL BUILDING
$590,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$700k
Range $675k – $717k
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$365 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$2,414
Tax year 2021
Assessed value
$41,815
Assessed 2023
Previous assessed
$37,787
+10.7% YoY
Effective rate
5.77%
On assessed value
Land market value
$179,860
Improvement market value
$499,240
Total market value
$679,100
Applied tax rate
1,292.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1973
Construction
FRAME
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
4
Total area
1,919 SF
Lot
19.55 ac (851,598 SF)
Zoning code
AA1
APN
1979-00-0-00-205
UPID
US13-0230155
Jurisdiction
ARAPAHOE
Zoning & alternative use
AA1 · Bennett, CO
Zoning AA1 · permitted uses
AA1 · Bennett, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bennett. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$555,000
AUTO REPAIR, GARAGE
Est. value
$800,000
RETAIL STORES
Est. value
$670,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$665,000
MEDICAL BUILDING
Est. value
$590,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1973
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
1
Bathrooms
4
Lot
19.55 ac
Current owner
From public records · entity-resolved
Todd D Lutz
Individual
Mailing address
860 S SPLIT ROCK RD, BENNETT, CO 80102-8708
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2021
—
Todd D Lutz
—
Deed
related
$50,000 · First Bank
Jun 9, 2020
—
Todd D Lutz
Select Portfolio Servicing
Grant Deed
related
—
May 4, 2020
—
Todd D Lutz
—
Deed
related
$353,200 · United Wholesale Mortgage
Jul 22, 2019
$505,000
Todd D Lutz
R David Browning
Warranty Deed
$350,000 · United Wholesale Mortgage
Jan 23, 2019
—
R David Browning
—
Deed
related
$325,000 · First National Bank Of America
Aug 26, 2003
$110,000
Autumn Homes INC
Barritt,charles D & Norma J
Grant Deed
$88,000 · First National Bank Strasburg
—
—
R D Browning
—
Deed Of Trust
related
$165,000 · Washington Mutual Fsb
—
—
Browning R D
—
Deed Of Trust
related
$167,600 · First Horizon Home Loan Corp
—
—
Browning R D
—
Deed Of Trust
related
$90,000 · First Horizon Home Loan Corp
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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