417 N 1200 W #84

Clearfield, UT 84015

$41,500D+

3 bd · 2.0 ba · 924 sqft · Built 1998 · Manufactured · Active · 314 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,813/mo
• Mortgage (P&I): −$218
• Tax + insurance: −$69
• HOA: −$953
• Vac / Maint / Mgmt: −$381
• Net cashflow: $193/mo
• Annual: $2,312/yr
• Cap rate: 11.86%
• Cash-on-cash: 19.90%
• DSCR: 1.89
• 1% rule: 4.37%
• Cash to close: $11,620

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $42k.
• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $42k).
• It's been on market 314 days — a 12% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $37k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $287 of loan paydown is wiped out by about $1k 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); Sunset Jr High (math 35% / reading 39%, grade F, #87 of 138 statewide, top 63%, 954 students, 28% FRL); Clearfield High (math 23% / reading 41%, grade F, #111 of 171 statewide, top 68%, 2,030 students, 22% FRL).
• Zoned-school proficiency averages 31% at this address vs 45% district-wide (-14 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 53% of rent.
• Market conditions: Rents rising (+2.2%/yr); 394 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $18k (30%) 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 $12k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 314 days. Have you received any prior offers? Is the seller open to a 12% 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.