1025 N 300 W #97

Springville, UT 84663

$153,000B

4 bd · 2.0 ba · 1,836 sqft · Built 1997 · Manufactured · Under Contract · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,274/mo
• Mortgage (P&I): −$802
• Tax + insurance: −$255
• HOA: −$0
• Vac / Maint / Mgmt: −$478
• Net cashflow: $739/mo
• Annual: $8,869/yr
• Cap rate: 12.09%
• Cash-on-cash: 20.70%
• DSCR: 1.92
• 1% rule: 1.49%
• Cash to close: $42,840

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $153k. Condition is rated good.
• At list price, monthly cash flow is $739 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $153k).
• It's been on market 24 days — a 2% lower offer ($151k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $151k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#12 in UT, #476 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• Nebo District (suburban): math 38% / reading 40% proficiency, ranked #45 of 80 in UT (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Westside School (math 35% / reading 37%, grade F, #375 of 585 statewide, top 65%, 580 students, 37% FRL); Springville Jr High (math 39% / reading 41%, grade F, #72 of 138 statewide, top 53%, 1,168 students, 28% FRL); Springville High (math 37% / reading 56%, grade D-, #38 of 171 statewide, top 24%, 1,612 students, 22% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: Rents rising (+2.3%/yr); 199 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,326 units permitted in Utah County in 2024 (1,053 in 5+ unit buildings).
• Utah County population projected at +49% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y 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 (-3.0% appreciation + 2.3% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; major wildfire risk; extreme-heat days projected 9→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 30% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.