732 S Spruce Dr · Garden City, UT 84028

$175,000

4 bd · 3.5 ba · 1,570 sqft · Other public records · 14 Days on market

Built 2018 0.34 ac 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 +10.1/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• Schools +4.5/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to Bear Lake Bluffs, a cozy, lakeside retreat in Garden City. Situated atop a scenic bluff, this charming beach-themed house offers unparalleled views of the stunning Bear Lake, making it the perfect backdrop for your family vacation. Step inside and discover spacious living areas designed for socializing and relaxation. With cozy furnishings and ample seating, the living room invites you to unwind and enjoy quality time with your loved ones. The well-appointed bedrooms offer comfortable accommodations for a restful night's sleep after a day of adventure. One highlight of Bear Lake Bluffs is the expansive backyard and deck area, where you'll spend countless hours soaking in the brea

Key facts

• Lakeside retreat
• Expansive backyard
• Outdoor space

Tags

• LAKESIDE RETREAT
• SCENIC BLUFF
• UNPARALLELED VIEWS
• EXPANSIVE BACKYARD
• PRIVATE HOT TUB
• OUTDOOR SPACE

Property features AI

Finance

• Other: Fractional ownership
• Financial info: Short term rentals allowed by zoning
• HOA & community: Subdivision: Buttercup Estate

Exterior

• Parking: Uncovered parking; 7 total open parking spaces; RV parking available
• Utilities: Natural gas connected; Electricity connected; Public sewer connected; Culinary and irrigation water
• Home design: Rambler/Ranch style; Single-family residence (fractional ownership allowed); Built and currently standing; Facing direction not specified; Single-story primary design with finished basement
• Construction: Asphalt and stone exterior materials; Asphalt roof
• Exterior features: Basement entrance; Bay box windows; Covered deck; Covered patio; Open patio; Open porch; Walkout basement; Outdoor lighting; Secluded and private yard; Full landscaping; Automatic full sprinklers and drip irrigation; Paved road access; Gradual slope terrain; Lake, mountain and water views

Interior

• Kitchen: Wall oven; Countertop range; Gas range; Granite countertops; Second kitchen
• Bedrooms: Primary bedroom on the 1st floor; One main-level bedroom
• Flooring: Carpet
• Bathrooms: 3 full bathrooms; 1 partial/half bathroom
• Heating & cooling: Forced air heating; Gas central heating; Hot water heating; Propane heating; Central air conditioning
• Interior features: Primary bath; Walk-in closet; Den/office; Disposal; Great room; Second kitchen; Mother-in-law apartment; Wall oven; Countertop range; Gas range; Vaulted ceilings; Granite countertops; Theater room; Blinds, drapes, plantation shutters, and shades; Daylight, full, walk-out basement with separate entrance (fully finished)
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (17.9% below list).
• Recommended offer: $144k (17.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#156 in UT) — a middle-class / working-renter tenant base. Strengths: housing A-, crime B, cost of living B; Watch: employment C-, amenities F, commute F.
• Rich District (rural): math 51% / reading 55% proficiency, ranked #16 of 80 in UT (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Rich School (math 64% / reading 54%, grade B-, #59 of 585 statewide, top 10%, 113 students, 37% FRL); Rich Middle School (math 52% / reading 57%, grade B-, #13 of 138 statewide, top 9%, 123 students, 33% FRL); Rich High (math 30% / reading 50%, grade F, #63 of 171 statewide, top 37%, 156 students, 30% FRL).
• Market conditions: 480 active listings in the ZIP; 97 units permitted in Rich County in 2024 (19 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $7k appreciation (4.3% local appreciation)).
• Rich County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 4y 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

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,720 (17.9% below list)

Questions for the listing agent

1. 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?
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: 5.59%
• Cash-on-cash: -2.53%
• DSCR: 0.89
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.28% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.8%
• Equity multiple: 1.55×
• Total profit: $26,734
• Equity at exit: $91,652

10-year hold

• IRR: 10.8%
• Equity multiple: 2.84×
• Total profit: $90,241
• Equity at exit: $152,286

Cash invested: $49,000 (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 84028

• Home prices YoY: 1.2%
• Active inventory: 480
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,437 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$248 /mo · $2,975/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-103

Break-even live

Break-even rent $1,568

Max offer price $156,769

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-54	+0% $-103	+5% $-153	+10% $-202
Rent	-10% $-217	-5% $-160	+0% $-103	+5% $-46	+10% $10
Rate	-1.0pp $-15	-0.5pp $-59	base $-103	+0.5pp $-149	+1.0pp $-195

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $175,000 Active 14 DOM
2. 2026-06-18
   days on market $175,000 Active 13 DOM
3. 2026-06-17
   days on market $175,000 Active 12 DOM
4. 2026-06-16
   days on market $175,000 Active 11 DOM
5. 2026-06-15
   days on market $175,000 Active 10 DOM
6. 2026-06-14
   days on market $175,000 Active 8 DOM
7. 2026-06-13
   days on market $175,000 Active 7 DOM
8. 2026-06-10
   days on market $175,000 Active 5 DOM
9. 2026-06-09
   days on market $175,000 Active 4 DOM
10. 2026-06-08
    days on market $175,000 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $175,000 Active 2 DOM

ⓘ 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: $2,975 · $248/mo
• Projected year-2 tax: $2,975 · $248/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥88°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,246
• − Mortgage interest: −$9,803
• − Property taxes: −$2,975
• − Insurance: −$875
• − Repairs & maintenance: −$1,380
• − Management: −$1,380
• − Depreciation: −$5,091
• Taxable loss: −$4,257
• Est. tax savings @ 24.0%: +$1,022
• After-tax cash flow: $-217/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: Rich District
• NCES district ID: 4900840
• Math proficiency: 51% ▼ -3.00%
• Reading proficiency: 55% ▲ 1.00%
• Median HH income: $51,144
• Composite: 45.37/100
• National rank: #2633
• State rank: #16 of 80 in UT

Livability — Garden City

• Score: 65/100
• State rank: #156
• US rank: #12941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garden City, UT
• Population (ZIP): 667

Population outlook (Rich County) Hauer SSP2

• Today (2025): 2,278 people
• By 2030: 2,241 · -1.6%
• By 2040: 2,142 · -6.0%
• By 2050: 2,085 · -8.5%
• By 2075: 1,814 · -20.4%
• By 2100: 1,530 · -32.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 8%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Italian 17% Portuguese 2% Slovak 1%
• Foreign-born: 14% · Canada
• Languages at home: 80% English-only · Spanish 18% German/W. Germanic 1%

Political lean MEDSL · Rich

• 2024 margin: Solid R (+68.9) · D 14.8% · R 83.7% · Other 1.5%
• 2008→2024 swing: -1.6pp toward R · 2008: -67.3pp · 2024: -68.9pp
• All cycles: 2024: R+68.9 2020: R+71.7 2016: R+62.2 2012: R+82.5 2008: R+67.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.28%
• Current HPI: 347.1291
• Rent YoY: —
• Metro: —
• 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

+9.5% since first listed

17 events — show timeline

• 2026-06-05 Listed $175,000 WFRMLS
• 2026-05-01 Listing Removed — WFRMLS
• 2025-10-14 Listed $175,000 WFRMLS
• 2024-01-05 Sold (Public Records) — Public Records
• 2023-08-17 Pending — WFRMLS
• 2023-08-17 Listing Removed — WFRMLS
• 2023-05-24 Price Changed $172,800 WFRMLS
• 2023-05-23 Price Changed $176,800 WFRMLS
• 2023-05-15 Listed $159,800 WFRMLS
• 2023-05-08 Listing Removed — WFRMLS
• 2023-04-25 Price Changed $159,800 WFRMLS
• 2023-04-24 Listed $156,800 WFRMLS
• 2023-03-28 Listing Removed — WFRMLS
• 2023-02-23 Price Changed $156,800 WFRMLS
• 2022-12-27 Price Changed $158,800 WFRMLS
• 2022-10-31 Listed $159,800 WFRMLS
• 2021-09-22 Sold (Public Records) — Public Records

Property tax history

+16.6%/yr

Latest (2025): $2,975 · -0.3% YoY. Source: county tax records.