2540 S Kipling St, Lakewood, CO 80227
Local realty services provided by:CENTURY 21 Top Dog Properties
Listed by: micki carwin
Office: denver property group303-997-9098
MLS#:5263034
Source:IRES
Price summary
- Price:$989,995
- Price per sq. ft.:$392.54
About this home
House Hack on a Full Acre Collect $2,300/mo from a Tenant Already in PlaceTwo fully independent residences on one deed, one loan. Live in the main house. Cottage has a tenant in place - no lease-up period, no vacancy risk to underwrite on day one.
* Current cottage rent: $2,300/month + pet rent, month-to-month
* Gross annual income from cottage: $27,600+
* Well and septic on both homes - no city water/sewer utility expense, which is a real line-item difference in Colorado
* Owned solar system (paid off, transfers to buyer) - reduces main house carrying cost further
Why This Pencils Differently Than a Typical SFR Most single-family homes don't generate income while you live in them. This one does. Note that this isn't a fully-rented investment property with a cap rate to calculate - you're occupying the main house, so the $27,600/year from the cottage is best thought of as a direct offset to your mortgage and carrying costs, not a return on the full property value. For a buyer comparing this to a typical SFR purchase, the comparison that matters is: same house, minus roughly $2,300/month in housing cost, because someone else is paying it. Ask your lender how this property's existing lease applies to your specific loan program for qualifying purposes.
The Main House 4BR/3BA (two bedrooms non-conforming, in a walk-out basement with its own private entrance - functionally a separate living space within the home), 200-degree mountain and city views, 5-burner gas range kitchen, owned solar, central wood stove, central AC, main-floor laundry.
The Cottage 2BR/1BA, central AC, currently tenant-occupied at $2,300/mo + pet rent on a flexible month-to-month lease. Has its own white picket-fenced yard, fully separate from the main house's yard - genuine privacy and separation, not a shared backyard arrangement. MTM lease means a buyer can keep the income running indefinitely or transition the space on their own timeline.
Carmody Hillcrest neighborhood, Jeffco schools...
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Home facts
- Year built:1973
- Subdivision & Development:Carmody Hillcrest
- Listing ID #:5263034
- Added:62 day(s) ago
- Updated:August 20, 2026 at 09:58 AM
Rooms and interior
- Bedrooms:4
- Total bathrooms:4
- Dining Description:Eat-in Kitchen
- Kitchen Description:Dishwasher, Disposal, Double Oven, Microwave, Refrigerator
- Basement Description:Full
- Living area:2,522 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Forced Air, Wood Stove
Structure and exterior
- Roof:Composition
- Year built:1973
- Building area:2,522 sq. ft.
- Lot area:1 Acres
- Architectural Style:Contemporary, Cottage
- Construction Materials:Brick, Concrete, Wood Siding
- Exterior Features:Patio
- Levels:One
Schools
- High school:Bear Creek
- Middle school:Carmody
- Elementary school:Green Gables
Utilities
- Water:Well
- Sewer:Septic Tank
Finances and disclosures
- Price:$989,995
- Price per sq. ft.:$392.54
- Tax amount:$6,068
Features and amenities
- Appliances:Dishwasher, Disposal, Double Oven, Dryer, Microwave, Refrigerator, Washer
- Laundry features:Dryer, Washer
- Amenities:Eat-in Kitchen
Parking
- Garage spaces:4
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