1350 W 300 N #38

Clearfield, UT 84015

$24,000D+

2 bd · 2.0 ba · 924 sqft · Built 1986 · Manufactured · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,614/mo
• Mortgage (P&I): −$126
• Tax + insurance: −$40
• HOA: −$960
• Vac / Maint / Mgmt: −$339
• Net cashflow: $149/mo
• Annual: $1,788/yr
• Cap rate: 13.74%
• Cash-on-cash: 26.61%
• DSCR: 2.18
• 1% rule: 6.72%
• Cash to close: $6,720

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $24k.
• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $24k).
• It's been on market 64 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $23k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $166 of loan paydown is wiped out by about $720 of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#45 in UT, #2,413 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment B+; Watch: amenities D-.
• Davis District (suburban): math 43% / reading 47% proficiency, ranked #28 of 80 in UT (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Holt School (math 25% / reading 22%, grade F, #494 of 585 statewide, top 85%, 458 students, 41% FRL); North Davis Jr High (math 30% / reading 34%, grade F, #101 of 138 statewide, top 73%, 924 students, 46% FRL); Clearfield High (math 23% / reading 41%, grade F, #111 of 171 statewide, top 68%, 2,030 students, 22% FRL) — zoned schools average 37% FRL vs 19% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 45% district-wide (-16 pts) — the specific schools serving this property underperform the Davis District average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 59% of rent.
• Market conditions: Rents rising (+2.2%/yr); 395 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,461 units permitted in Davis County in 2024 (508 in 5+ unit buildings).
• Davis County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $6k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $7k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.