3422 Tejon Street is a 1908 Denver Square in the Highlands/LoHi neighborhood (West Highland sub-area, ZIP 80211), listed at $849K. The 2019 down-to-studs renovation is the value driver: new 200A electrical, PEX plumbing, 95% efficiency furnace, mini-split AC, R-30 attic insulation, and original brick exterior preserved per Denver Landmark guidelines. Highlands has been Denver's strongest 10-year appreciation neighborhood (+71% 2016-2025 per DMAR). The fundamental risks: Denver's 2025-2026 appreciation has flattened to 1.2% YoY, the Front Range Wildland-Urban Interface is 7 mi west with Marshall Fire (2021) demonstrating prairie-fire reach into urban neighborhoods, and Denver's altitude (5,280 ft) creates real considerations.
Recommendation
Worth Investigating — solid for a tech-relocator buyer with a 6+ year hold and tolerance for a slower 2026-2027 appreciation environment. The 2019 renovation eliminates near-term capex; the Highlands location is durable. Confirm wildfire insurance binder pre-offer.
Key strengths
2019 down-to-studs renovation — minimal deferred maintenance for 8-12 years.
Highlands is Denver's strongest 10-year appreciation neighborhood (+71% 2016-2025).
CO effective property tax 0.49% — among the lowest in US, Gallagher repeal + TABOR keep it stable.
12-min walk to Union Station + LoHi restaurant cluster — durable walkable-urban scarcity.
Key concerns
Warning. Front Range WUI 7 mi west — Marshall Fire 2021 showed prairie-fire reach into urban grids.
Warning. Denver YoY appreciation flattened to 1.2% Q1 2026 — don't expect 2016-2022 pace forward.
Note. EPA Radon Zone 1 — mandatory radon test, mitigation $1,200-$2,400 if elevated.
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