2924 Zenobia StreetWest Highlands Bungalow For Sale in Denver

Estimated monthly payment (principal and interest only). At the current list price of $775,000, a buyer putting 20 percent down finances $620,000. At a 30-year fixed rate around 6.5 percent, principal and interest runs roughly $3,920 per month. At 10 percent down on a $697,500 loan at the same rate, principal and interest runs roughly $4,410 per month, plus private mortgage insurance until the loan seasons to 20 percent equity. Rates change daily, so confirm current numbers with your lender.

Property taxes. Denver residential property taxes for a home in this price range typically run between $3,000 and $4,500 per year, based on current assessment rates and the Denver mill levy. Final amounts depend on the actual assessed value set by the Denver County Assessor.

Homeowners insurance. Budget roughly $1,800 to $2,400 per year for a home of this size and age. An updated roof, electrical, and plumbing improve quoted rates.

Colorado first-time buyer programs. The Colorado Housing and Finance Authority (CHFA) offers down payment assistance and below-market rate mortgages for qualifying buyers. Denver-specific programs, including metroDPA, can be stacked with CHFA financing in many cases. Your lender can walk you through eligibility.

Inspection and closing costs. Plan for closing costs of roughly 2 to 3 percent of purchase price, plus $500 to $800 for a thorough inspection of a 1946 home. Ask the inspector to pay particular attention to the sewer line, electrical panel, and foundation, which are the three areas most likely to require investment in Denver homes of this vintage.

Ready to run your own numbers? Try Bankrate's mortgage calculator or ask Chelsea for a warm introduction to a local lender who can issue a same-day pre-approval.

Long-term rental estimate. Comparable 3-bedroom homes on and near Zenobia Street currently rent in a range of roughly $2,800 to $3,600 per month for the primary residence. Final rents depend on finishes, yard access, and timing within the leasing season.

Studio as a secondary revenue stream. The detached studio with utilities has historical potential as a separately leased workspace, coworking sublet, or a rate-enhancing amenity bundled with the primary home's rent. With ADU conversion (subject to city approval), the studio could become a long-term rental unit generating separate income.

Cap rate math at list. At $775,000 purchase with $3,200 per month long-term rent on the main house, gross annual rent of $38,400 works out to a roughly 4.9 percent gross yield. Net operating income after taxes, insurance, maintenance reserves, and vacancy lands in a 3.5 to 4.0 percent cap range, typical for Denver's core neighborhoods. Adding legal ADU income or studio income materially improves that math.

Short-term rental rules. Denver requires short-term rental (Airbnb, VRBO) operators to use the property as their primary residence. This property is best suited for owner-occupants, house hackers, or long-term rental investors. House hackers who live in the main residence can explore short-term rental of the studio under current rules, subject to licensing.

Appreciation context. West Highlands single-family homes have appreciated meaningfully over the last decade as the Tennyson corridor has densified and Sloan's Lake redevelopment has matured. Past performance does not guarantee future returns, but proximity to both amenities and job centers remains a durable tailwind.