Score
0Denver, CO
3459 Lawrence St
1.5M
3 beds
2 baths
1,152 sqft
3 bd • 2 ba • 1,152 sf
This analysis was generated on 1/25/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$1,500,000
Price/Sq.Ft
$1,302
Year Built
1998
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This property offers exceptional development potential with its prime location at the boundary of the River North Arts District (RiNo) and Historic Curtis Park. The G-RH-3 zoning allows for versatile development options including urban houses, duplexes, and row houses with Accessory Dwelling Units (ADUs). The property consists of two lots totaling 6,250 sq ft (3,125 sq ft each), providing ample space for creative development. At $1,500,000 for both lots, the price per square foot of land is $240, which is competitive for the area given its development potential. The location near downtown Denver (approximately 1.5 miles) adds significant value, with a growing arts scene and urban amenities nearby. The existing 1,152 sq ft house, built in 1998, offers immediate rental income potential while development plans are finalized. The property has shown strong appreciation, increasing from $61,500 in 1998 to the current $1,500,000 listing price, representing a 2,339% increase over 26 years (an average annual appreciation of about 13.5%).
The Bad
The current house on the property is relatively small at 1,152 sq ft, which is below the Denver average of around 1,500 sq ft for single-family homes. The price per square foot for the existing structure is extremely high at $1,302.08, which is well above the Denver average of around $400-$500 per square foot. This indicates that most of the value is in the land and development potential, not the current structure. The property has been on the market for 323 days, suggesting potential challenges in pricing or buyer interest. The multiple price changes (from $500,000 to $1,500,000) within a short period may indicate uncertainty in valuation or strategy. The flood risk is moderate (4/10), which could impact insurance costs and future development considerations.
The Ugly
The property's air quality risk is major (5/10), with 9 bad air days per year, which could be a concern for potential residents and may require additional mitigation measures in new construction. The estimated insurance cost of $5,400/year is relatively high, likely due to the development potential and associated risks. The existing house, built across both lots, may need to be demolished for optimal development, adding to the overall project cost. The rapid price increases in the listing history (from $500,000 to $1,500,000 in just over two months) could raise questions about the stability of the property's valuation and the seller's motivations. The nearby schools have low ratings (4/10 for elementary, 2/10 for high school), which could impact the attractiveness for family-oriented developments.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for experienced real estate developers or investors with a focus on multi-unit residential projects. It's ideal for those with a vision for urban infill development and the financial capacity to undertake a significant project. The potential for luxury duplexes or multiple single-family homes with ADUs makes it attractive for developers targeting young professionals or small families looking for modern, urban living spaces. Investors seeking long-term appreciation in an up-and-coming area of Denver would also find this property appealing. The proximity to the RiNo arts district makes it suitable for those interested in creating boutique rental properties or Airbnb-style accommodations catering to tourists and business travelers.
Not For
This property is not suitable for individual homebuyers looking for a move-in ready single-family home. The high price point and development focus make it impractical for most owner-occupants. It's not ideal for investors seeking immediate rental income without significant additional investment. The property wouldn't suit those with limited budgets or without experience in complex urban development projects. Given the air quality concerns and moderate flood risk, it may not be appropriate for developers focused on eco-friendly or highly sustainable projects without significant mitigation efforts.
Demographics
Area Median Income
$79,436
Property History
Price History
Ownership Timeline
$61,500Financed
Dec 16, 1998Habitat For Humanity Of Metro Denver IncShirley A Martinez
Warranty Deed
Standard Sale (Purchase/Resales)
$30,000Cash Purchase
Jun 19, 1998Jpg Properties IncHabitat For Humanity Of Metro Denver Inc
Warranty Deed
Non-Residential Arm's Length Transactions
Property Taxes
$3,772
2024 Tax Assessment
1.9%from previous year
Assessed Value$48,680
Tax Rate7.75%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
2.3/10
Below AverageMiddle
3.5/10
Below AverageHigh
2.5/10
Below AverageFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$1,390
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$1,500,000
Price/sqft
$1,302
Layout
3 bd•2 ba
Days on market
7 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$616,917
143.1%
Your price is 143.1% above average
Median Price
$630,000
138.1%
Based on 6 recent sales
Price per Sq.Ft
$516
152.3%
Your price is 152.3% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 1625 E 33rd Avenue, Denver, CO 80205 | $630,000 | 1,148 | 2 | 2 | $54957.9% | 11/7/2024 |
| 3122 N Williams Street, Denver, CO 80205 | $700,000 | 1,340 | 3 | 2 | $52259.9% | 11/13/2024 |
| 1639 E 30th Avenue, Denver, CO 80205 | $610,000 | 1,152 | 3 | 2 | $53059.3% | 9/6/2024 |
| 2553 N High Street, Denver, CO 80205 | $515,000 | 1,129 | 2 | 2 | $45665.0% | 9/13/2024 |
| 3457 Ringsby Court #304, Denver, CO 80216 | $585,000 | 1,212 | 2 | 2 | $48362.9% | 9/13/2024 |
| 2522 N Humboldt Street, Denver, CO 80205 | $661,500 | 1,195 | 3 | 2 | $55457.5% | 8/8/2024 |
1625 E 33rd Avenue, Denver, CO 80205
Price: $630,000
Sq.Ft: 1,148
Beds/Baths: 2/2
$/Sq.Ft:
$54957.9%
Sale Date: 11/7/2024
3122 N Williams Street, Denver, CO 80205
Price: $700,000
Sq.Ft: 1,340
Beds/Baths: 3/2
$/Sq.Ft:
$52259.9%
Sale Date: 11/13/2024
1639 E 30th Avenue, Denver, CO 80205
Price: $610,000
Sq.Ft: 1,152
Beds/Baths: 3/2
$/Sq.Ft:
$53059.3%
Sale Date: 9/6/2024
2553 N High Street, Denver, CO 80205
Price: $515,000
Sq.Ft: 1,129
Beds/Baths: 2/2
$/Sq.Ft:
$45665.0%
Sale Date: 9/13/2024
3457 Ringsby Court #304, Denver, CO 80216
Price: $585,000
Sq.Ft: 1,212
Beds/Baths: 2/2
$/Sq.Ft:
$48362.9%
Sale Date: 9/13/2024
2522 N Humboldt Street, Denver, CO 80205
Price: $661,500
Sq.Ft: 1,195
Beds/Baths: 3/2
$/Sq.Ft:
$55457.5%
Sale Date: 8/8/2024
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