40945 Topaz Dr
About This Property
This updated 1995 manufactured home features an opened kitchen with a big island, abundant cabinetry, new counters and backsplash, and brand new appliances. Remodeled bathrooms, fresh interior paint, and LVP flooring simplify upkeep. Dual pane windows, front and back Andersen storm doors, and individually controlled baseboard heaters provide natural light, ventilation, and room-by-room temperature control to conserve electricity.
Major improvements include a new 2026 roof, new water filtration system, and brand new septic and leach field with capacity for additional bedrooms. The full 1,640 sq ft unfinished basement has tall ceilings and interior and exterior access for future expansion. An RV septic hookup adds convenience.
Horses are allowed. The oversized detached one-car garage and attached storage room have potential to be a horse stall or space for equipment. Soil testing and engineering have been completed for a potential shop or garage, and home regraded. Large concrete back patio overlooks mountain views and the tree-lined rear of the acreage.
Located with no neighboring homes on two sides, this property combines rural country living with well maintained access roads and community events. Approximately an hour from Denver, Aurora, Parker, and Castle Rock, it offers acreage, horse keeping, and flexible space within reach of the metro area.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 6, 2026 | Price Decreased |
$505,000
↓ $5K
(1%) | |
| Price Decreased | |||
| Sep 16, 2026 | Listed | $510,000 | |
| Listed | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017