446 W 200 S · Heber, UT 84032

$320,000

3 bd · 2.0 ba · 1,288 sqft · SingleFamily public records

Built 1927 10,018 sqft lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

There are no remarks available.

Key facts

• 0.23 acre lot
• Built 1927

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (18.4% below list).
• Recommended offer: $261k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 1.0% in Heber — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#68 in UT, #4,763 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, cost of living D-.
• Wasatch District (town): math 45% / reading 51% proficiency, ranked #23 of 80 in UT (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Heber Valley School (math 18% / reading 30%, grade F, #488 of 585 statewide, top 84%, 598 students, 49% FRL); Rocky Mountain Middle (math 40% / reading 50%, grade D, #43 of 138 statewide, top 33%, 717 students, 26% FRL); Wasatch High (math 34% / reading 50%, grade F, #55 of 171 statewide, top 32%, 2,531 students, 16% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: Rents rising (+3.9%/yr); 1365 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 835 units permitted in Wasatch County in 2024 (22 in 5+ unit buildings).
• This rent runs 30% of the median local income ($103k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Wasatch County population projected at +87% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 33y 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $261,265 (18.4% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.39%
• DSCR: 1.06
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.93% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.52×
• Total profit: $-42,873
• Equity at exit: $47,713

10-year hold

• IRR: -3.0%
• Equity multiple: 0.79×
• Total profit: $-18,948
• Equity at exit: $27,668

Cash invested: $89,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 86 Strongly Landlord-Friendly
• State Utah: 86 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

3-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 84032

• Rents YoY: 3.9%
• Active inventory: 1365
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,613 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$148 /mo · $1,782/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $104

Break-even live

Break-even rent $2,481

Max offer price $320,000

Occupancy floor 91%

Sensitivity live

Price	-10% $285	-5% $195	+0% $104	+5% $14	+10% $-77
Rent	-10% $-102	-5% $1	+0% $104	+5% $207	+10% $310
Rate	-1.0pp $265	-0.5pp $185	base $104	+0.5pp $21	+1.0pp $-63

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
386 W 500 N Heber City, UT	3.0	2.0	1763	$2,700	$1.53	16d	1	0.66mi
397 N 100 E Unit 1 Heber City, UT	3.0	2.0	1500	$2,400	$1.60	21d	1	0.72mi
1448 W 1200 S Heber City, UT	4.0	2.0	1569	$2,695	$1.72	25d	1	1.21mi
105 E Turner Mill Rd Heber City, UT	1.0–3.0	1.0–2.0	935	$2,739	$2.93	4d	62	1.26mi
1128 S 820 E #1202 Heber City, UT	3.0	2.0	1200	$1,950	$1.62	13d	1	1.26mi
144 E Turner Mill Rd Heber City, UT	1.0–3.0	1.0–2.5	988	$3,230	$3.27	15d	51	1.35mi
998 S 960 E Unit Downstairs Heber City, UT	2.0	1.0	1298	$1,500	$1.16	25d	1	1.36mi
1266 S Sawmill Blvd Heber City, UT	3.0	2.0	1406	$2,450	$1.74	25d	1	1.44mi
1322 S Sawmill Blvd #508 Heber City, UT	3.0	2.0	1406	$2,450	$1.74	25d	1	1.48mi

Listing history 12 events

1. 2026-05-18
   historical
2. 2026-05-11
   listed $320,000
3. 2026-05-11
   historical
4. 2026-03-31
   listed $320,000 Active
5. 2022-07-07
   soldstatus
6. 2002-10-21
   soldstatus 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

7. 2002-10-18
   soldstatus
8. 2002-09-21
   historical
9. 2002-08-03
   listed $130,000
10. 2002-08-01
    listed $130,000 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

11. 1994-03-31
    historical
12. 1993-12-02
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast UT · Resets to sale price

• Current annual tax: $1,782 · $148/mo
• Projected year-2 tax: $2,112 · $176/mo
• Expected delta: +$330/yr (+$28/mo · 18.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,352
• − Mortgage interest: −$17,925
• − Property taxes: −$1,782
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,508
• − Management: −$2,508
• − Depreciation: −$9,309
• Taxable loss: −$4,280
• Est. tax savings @ 24.0%: +$1,027
• After-tax cash flow: $2,276/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Wasatch District
• NCES district ID: 4901110
• Math proficiency: 45% ▼ -2.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $67,315
• Composite: 42.77/100
• National rank: #3154
• State rank: #23 of 80 in UT

Livability — Heber

• Score: 74/100
• State rank: #68
• US rank: #4763

Category grades

Amenities F Commute F Cost of living D- Crime A- Employment A+ Housing A+ Health & safety A- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Heber, UT
• County: Wasatch County · 42,185 people
• Metro: Heber, UT
• Population (ZIP): 26,111
• Household income: $103,440
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 358.0

Population outlook (Wasatch County) Hauer SSP2

• Today (2025): 42,214 people
• By 2030: 49,113 · +16.3%
• By 2040: 63,675 · +50.8%
• By 2050: 78,879 · +86.9%
• By 2075: 116,912 · +177.0%
• By 2100: 147,290 · +248.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 16% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Slovak 5% Portuguese 5% Italian 3%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 82% English-only · Spanish 13% Other Indo-European 2% Tagalog/Filipino 1%

Political lean MEDSL · Wasatch

• 2024 margin: Strong R (+27.4) · D 35.2% · R 62.6% · Other 2.2%
• 2008→2024 swing: +2.3pp toward D · 2008: -29.8pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+26.2 2016: R+25.2 2012: R+52.2 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -262.10%
• Current HPI: 298.4537
• Rent YoY: ▲ 3.93%
• Metro: Heber, UT
• State GDP YoY: ▲ 3.54%
• F500 in state: 2

Industry mix (Fortune 500 HQ in UT)

Industry	F500 HQs	Revenue
▸Financial Services	1	$3B

Price history

+146.2% since first listed

12 events — show timeline

• 2026-05-18 Listing Removed — WFRMLS
• 2026-05-11 Listed $320,000 WFRMLS
• 2026-05-11 Listing Removed — WFRMLS
• 2026-03-31 Listed $320,000 WFRMLS
• 2022-07-07 Sold (Public Records) — Public Records
• 2002-10-21 Sold (MLS) — WFRMLS
• 2002-10-18 Sold (MLS) — PCMLS
• 2002-09-21 Delisted — PCMLS
• 2002-08-03 Listed $130,000 PCMLS
• 2002-08-01 Listed $130,000 WFRMLS
• 1994-03-31 Delisted — PCMLS
• 1993-12-02 Listed — PCMLS

Property tax history

+7.5%/yr

Latest (2025): $1,782 · -12.7% YoY. Source: county tax records.