1343 N Trapper Loop W

Garden City, UT 84028

$140,000C-

6 bd · 4.0 ba · 2,166 sqft · Built 2022 · Other · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,467/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$357
• HOA: −$58
• Vac / Maint / Mgmt: −$308
• Net cashflow: $9/mo
• Annual: $111/yr
• Cap rate: 6.37%
• Cash-on-cash: 0.28%
• DSCR: 1.01
• 1% rule: 1.05%
• Cash to close: $39,200

Investor read

• This is a 6-bed/4.0-bath other listed at $140k.
• At list price, monthly cash flow is $9 ($111/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• It's been on market 48 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($968 loan paydown + $6k appreciation (4.3% local appreciation)).
• Location reads 65/100 on livability (#156 in UT) — a middle-class / working-renter tenant base. Strengths: housing A-, crime B, cost of living B; Watch: employment C-, amenities F, commute F.
• Rich District (rural): math 51% / reading 55% proficiency, ranked #16 of 80 in UT (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Rich School (math 64% / reading 54%, grade B-, #59 of 585 statewide, top 10%, 113 students, 37% FRL); Rich Middle School (math 52% / reading 57%, grade B-, #13 of 138 statewide, top 9%, 123 students, 33% FRL); Rich High (math 30% / reading 50%, grade F, #63 of 171 statewide, top 37%, 156 students, 30% FRL).
• Watch-outs: property tax is 2.6% of price.
• Market conditions: 478 active listings in the ZIP; 97 units permitted in Rich County in 2024 (19 in 5+ unit buildings).
• Rich County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 11 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.