Property Overview
Scranton St, Aurora CO 80011 – Morris Heights
Large corner lot, no HOA, all the big-ticket systems done. Buy for $385K, light fix for $15K, sell for $500k+. Equity is baked in before you swing a hammer.
This tri-level 2,371 sq ft home sits on a 8,930 sq ft corner lot one mile from the Fitzsimons light-rail station. Roof (2021), brand-new boiler and water heater (2024) mean low CapEx risk. The layout already offers four bedrooms and two baths; value is unlocked when you buy it in such good condition. The oversize two-car garage, dedicated RV pad off the side street and fully fenced yard check every Colorado buyer’s wish list.
Why this deal makes sense:
Fat Spread, Low Risk
• Purchase $385k + rehab $15k vs. conservative $500k ARV → ≈ $70k gross margin right out of the gate.
• Even if retail prices slide 7 percent the deal still cash-flows.
Multiple Exit Plays
When you look at comps you’ll see multiple levels of fix generate profit, you can pick the level of rehab and price accordingly. Pick and choose what you refresh and update rather than full redo.
• Flip: 90-120 days total hold time; comps move in 11 DOM on average.
• BRRRR / rental: New citywide ADU ordinance lets a corner-lot owner add a legal unit. Post-rehab appraised value supports 75 percent cash-out refi ≈ $385k, leaving ≈ $41k in the deal. Main + future ADU can push $3,200–$3,600 monthly. Aurora City Council is finalizing a Unified Development Ordinance amendment to streamline accessory-dwelling-unit approvals city-wide – corner lots like this become prime ADU plays.
• House-hack resale: Garden-level bed-and-bath plus RV pad check the multi-gen and toy-hauler boxes for retail buyers.
Location That Prints Demand
• One mile to Fitzsimons Innovation Community and Anschutz Medical Campus (55k+ jobs and growing).
• East Colfax Bus Rapid Transit and mixed-use rezoning underway; TOD premiums already creeping east.
• Sand Creek Greenway, light-rail and I-225 inside a five-minute radius.
Big-Ticket CapEx Already Handled
Roof 2021, boiler 2024, water heater 2024. Your budget is pure cosmetics.
Market Momentum
Updated Morris Heights sales average 11 DOM, inventory of 1 month. Clean flips at $240–$250 per ft² keep clearing.
Index-Beating ROI
All-in for $400k for a likely $500k exit equals ≈ 25 percent gross ROI in four months – before leverage.
Property Walk-Thru Breakdown
- Main Level: Bright living room with original hardwood, adjacent kitchen ready for cabinet-swap and quartz if you are aiming for a higher ARV. Dining opens to patio.
- Upper Level: Three hardwood bedrooms, one full bath.
- Garden Level: Large family room plus fourth bedroom and second full bath – ideal in-law. New boiler and water heater already installed.
- Exterior: 8,930 sq ft corner lot, fenced yard, RV pad off side street, two-car garage with workshop space. Roof 2021.
- Scope: Yard clean-up, kitchen refresh, + interior paint – budget roughly $15K.
Neighborhood Description
Morris Heights is a mature 1950s neighborhood in north Aurora, minutes from the region’s largest medical campus and anchored by parks, the Sand Creek Greenway and a growing light-rail network. Pride-of-ownership blocks, wide streets and no HOA fees make it a magnet for both residents and investors.
Video Walkthrough
Quick read: Work is purely cosmetic, all mechanicals already replaced, timeline and budget stay tight.
Trade |
Scope Item |
Qty / Area |
Est. Cost |
| Landscaping | Yard cleanup, trim shrubs, fresh rock mulch | Front & back yards | $1,000 |
| Kitchen | Refresh cabinets, counters, appliances | 1 complete kitchen | $7,000 |
| Interior Paint | Paint walls, ceilings, trim (neutral palette) | 1,796 sf living space | $7,000 |
| Total Budget | ≈$15,000 |
Total Budget: $15,000
Refreshed kitchen, full interior paint, and yard clean up give this tri-level home modern appeal while the new roof, boiler and water heater protect your bottom line. The oversized garage, dedicated RV pad and private fenced yard deliver the Colorado lifestyle buyers crave. All of it sits five minutes from the Fitzsimons medical district, light-rail and miles of greenbelt trails.
The roof was replaced in 2021, and both the boiler and water heater were installed in 2024 as per seller.
Closing is scheduled for 07/21/2025.
4 Beds | 2 Baths | 2371 sq ft
397 Tucson Street, Aurora, CO 80011 Zillow
Sold Date: 5/25/2025
Bed/Bath: 3/3
Sq Ft: 2,758
Sale Price: $480,000 Sold to an investor with restricted showings due to a tenant living in the property.
Not fixed up, close to an off market transaction. Do the basic clean up and relist and you would land above $510k for ARV in no small part due to your subject house will be available for showings.
577 Tucson Street, Aurora, CO 80011 Zillow
Sold Date: 7/5/2023
Bed/Bath: 3/2
Sq Ft: 2,296 (half of that finished)
Sale Price: $450,000
Unfinished basement, older bathrooms, and dated fixtures. This is compelling that subject with close to double square footage finished is worth substantially more.
416 Troy Street, Aurora, CO 80011 Zillow
Sold Date: 4/21/2025
Bed/Bath: 5/3
Sq Ft: 2,296
Sale Price: $550,000
Has central air and is an example of full remodel. This is one option for exit, big remodel, higher ARV. See other comps for other options. We have not budgeted for full high end remodel like this but this shows you could choose it.
12926 E 2nd Avenue, Aurora, CO 80011 Zillow
Sold Date: 4/7/2023
Bed/Bath: 4/2
Sq Ft: 2,396
Sale Price: $490,000
This comp sold in noticeably worse condition than subject's current condition. In other words do nothing and list for more, $500k+ is easy here, you MUST look at subject pictures, it's already really nice.
420 Racine Street, Aurora, CO 80011 Zillow
Sold Date: 5/16/2025
Bed/Bath: 5/3
Sq Ft: 2,268
Sale Price: $520,000
Another option showing small fix comp. Do less work to our subject house and get the ARV we predict like this sold comp. Spend less to freshen up because our subject does not need a full remodel.
