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Updated about 4 years ago on . Most recent reply

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53
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Jim Stanley
  • Denver, CO
25
Votes |
53
Posts

Torn between 2 very similar SFH's in Denver Suburb- Advice Please

Jim Stanley
  • Denver, CO
Posted

After months of not finding anything I want to buy as my 1st rental, I found 2 that I would like to buy (I can only afford one). 

Both are in the neighborhood I live in- great schools, safe place, quiet, middle to upper middle class, etc.  Expected rent is approx $2500/month.

Both are the same model- 5 bedrooms (4 up, 1 down), 2 1/2 baths (2 up, 1/2 down) and both are in very good shape, move in ready, etc.


Differences:
House 1:
Finished Basement, but no bathroom in basement.
Gas fireplace- selling point in CO
Paid-for solar installation (could save renter approx $50-$100/month on electricity)
Small backyard with retaining wall and trees that make it look/feel even smaller (bad for small kids and dogs).
Residential street but higher traffic since it's a "feeder" to the neighborhood.

House 2:
Better curb appeal from street
Less traffic on street.
Back yard is bigger, but feels a lot bigger due to layout (better for young kids and dogs (Everyone in CO has a dog)).
VERY close to excellent Elementary school
No fireplace.
Unfinished basement.

My wife and I think House 1 would be better for families with teenagers (can go to basement) and House 2 would be better for families with small kids (can play in back yard).

Any advice appreciated- thanks!

  • Jim Stanley
  • Most Popular Reply

    User Stats

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    Replied

    If the numbers work I would choose House #1. Children cause a lot of damage. With luck you may get a older couple, empty nest. They make for the very best tenants.  

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