1200 N Church

Layton, UT 84041

$49,900D-

3 bd · 2.0 ba · 924 sqft · Built 1975 · Land · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,722/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$1,150
• Vac / Maint / Mgmt: −$362
• Net cashflow: $-134/mo
• Annual: $-1,610/yr
• Cap rate: 3.07%
• Cash-on-cash: -11.52%
• DSCR: 0.49
• 1% rule: 3.45%
• Cash to close: $13,972

Investor read

• This is a 3-bed/2.0-bath land listed at $50k.
• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $30k (38.9% below list).
• Meets the 1% rule at list price ($2k rent vs $50k).
• It's been on market 38 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $30k (38.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#11 in UT, #457 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• 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: King School (math 22% / reading 27%, grade F, #474 of 585 statewide, top 83%, 511 students, 33% FRL); Central Davis Jr High (math 43% / reading 42%, grade D-, #56 of 138 statewide, top 41%, 1,009 students, 29% FRL); Northridge High (math 24% / reading 43%, grade F, #106 of 171 statewide, top 62%, 1,954 students, 23% FRL).
• Watch-outs: HOA is 67% of rent.
• Market conditions: Rents rising (+1.3%/yr); 342 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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.
• 6 sale attempts since 26y 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.