800 W Highway Dr · Wellington, UT 84542

$4,550,000

74 bd · 37.0 ba · 30,000 sqft · MultiFamily · 253 Days on market

Built 1980 3.13 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).

• Appreciation +10.0/10.0
• Cash flow +8.2/30.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 37 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

The Ridges presents a rare opportunity to acquire a 37-unit multifamily community in one of Central Utah's most desirable residential locations. Located just over an hour from Spanish Fork in Utah County, the property has experienced virtually zero vacancy under current management and features spacious, bright units with in-unit laundry, private balconies, and stunning valley views, complemented by a community park and ample covered parking. Offering a stabilized 5.5% cap rate based on below-market rents with 6% interest rate financing assumptions, The Ridges provides immediate income stability and attractive upside potential through rent growth, operational efficiencies, and incremental property improvements. Ideally positioned along U. S. Highway 6-the primary eastwest route through Carbon County-The Ridges connects Wellington and Price, the region's commercial, educational, and healthcare hub, and serves as a key gateway to Central Utah and premier national parks including Moab and Arches.

Key facts

• Private balconies
• In unit laundry
• 3.13 acre lot

Tags

• IN UNIT LAUNDRY
• PRIVATE BALCONIES
• STUNNING VALLEY VIEWS
• AMPLE COVERED PARKING

What this means for you Summary

Snapshot

• This is a 37 × 2-bed/1.0-bath units multifamily listed at $4.55M.

Deal economics

• At list price, monthly cash flow is $-4k ($-51k/yr) — negative. Per door: $-114/mo.
• To cash-flow at today's rent, offer at most $3.94M (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $3.45M (24.3% below list).
• Recommended offer: $3.45M (24.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#184 in UT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: amenities F, commute F, employment D-.
• Carbon District (town): math 36% / reading 43% proficiency, ranked #53 of 80 in UT (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mont Harmon Middle (math 36% / reading 44%, grade F, #72 of 138 statewide, top 53%, 601 students, 45% FRL); Carbon High (math 17% / reading 42%, grade F, #124 of 171 statewide, top 74%, 1,023 students, 34% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: 35 active listings in the ZIP; 196 units permitted in Carbon County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $486k of equity ($31k loan paydown + $455k appreciation (10.0% local appreciation)).
• Carbon County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$782k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 253 days — a 12% lower offer ($4.00M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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.

Recommended offer $3,446,400 (24.3% 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. It's been on market 253 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 5.18%
• Cash-on-cash: -3.97%
• DSCR: 0.82
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.5%
• Equity multiple: 2.73×
• Total profit: $2,209,958
• Equity at exit: $4,099,000

10-year hold

• IRR: 19.4%
• Equity multiple: 6.27×
• Total profit: $6,720,230
• Equity at exit: $8,839,649

Cash invested: $1,274,000 (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 84542

• Home prices YoY: 21.0%
• Active inventory: 35
• Price-to-rent: 407.1×

Monthly cashflow live

• Estimated rent: $34,464 medium
• Mortgage (P&I): −$23,861
• Tax est. 1.5%: −$5,688 /mo · $68,250/yr
• Insurance: −$1,896
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,237
• Net cashflow: $-4,217

Break-even live

Break-even rent $39,803

Max offer price $3,939,726

Occupancy floor —

Sensitivity live

Price	-10% $-1,073	-5% $-2,645	+0% $-4,217	+5% $-5,790	+10% $-7,362
Rent	-10% $-6,940	-5% $-5,579	+0% $-4,217	+5% $-2,856	+10% $-1,495
Rate	-1.0pp $-1,926	-0.5pp $-3,060	base $-4,217	+0.5pp $-5,396	+1.0pp $-6,596

37-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 37× units	2	1	$34,447
Total (37 units)			$34,464

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: $1,137,500
• Closing costs: $136,500
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-22
   days on market $4,550,000 Active 253 DOM
2. 2026-06-18
   days on market $4,550,000 Active 250 DOM
3. 2026-06-17
   days on market $4,550,000 Active 249 DOM
4. 2026-06-16
   days on market $4,550,000 Active 248 DOM
5. 2026-06-15
   days on market $4,550,000 Active 247 DOM
6. 2026-06-14
   days on market $4,550,000 Active 245 DOM
7. 2026-06-10
   days on market $4,550,000 Active 242 DOM
8. 2026-06-09
   days on market $4,550,000 Active 241 DOM
9. 2026-06-08
   days on market $4,550,000 Active 240 DOM
10. 2026-06-07
    days on market $4,550,000 Active 239 DOM
11. 2026-06-03
    days on market $4,550,000 Active 235 DOM
12. 2026-06-02
    days on market $4,550,000 Active 234 DOM
13. 2026-06-01
    days on market $4,550,000 Active 233 DOM
14. 2026-05-31
    days on market $4,550,000 Active 232 DOM
15. 2026-05-31
    days on market $4,550,000 Active 231 DOM
16. 2025-10-11
    listed $4,550,000 Active 1007-char remark

    Show marketing remark (1007 chars)

    The Ridges presents a rare opportunity to acquire a 37-unit multifamily community in one of Central Utah's most desirable residential locations. Located just over an hour from Spanish Fork in Utah County, the property has experienced virtually zero vacancy under current management and features spacious, bright units with in-unit laundry, private balconies, and stunning valley views, complemented by a community park and ample covered parking. Offering a stabilized 5.5% cap rate based on below-market rents with 6% interest rate financing assumptions, The Ridges provides immediate income stability and attractive upside potential through rent growth, operational efficiencies, and incremental property improvements. Ideally positioned along U. S. Highway 6-the primary eastwest route through Carbon County-The Ridges connects Wellington and Price, the region's commercial, educational, and healthcare hub, and serves as a key gateway to Central Utah and premier national parks including Moab and Arches.

17. 2022-03-31
    soldstatus Closed 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

18. 2022-02-17
    historical Backup 31-char remark

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    There are no remarks available.

19. 2022-02-03
    status Active 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

20. 2021-12-09
    historical Backup 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

21. 2021-11-29
    status Active 31-char remark

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    There are no remarks available.

22. 2021-10-07
    historical Backup 31-char remark

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    There are no remarks available.

23. 2021-09-21
    price $3,700,000 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

24. 2021-07-07
    listed $4,200,000 Active 31-char remark

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    There are no remarks available.

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

Taxation est. · year 1

• Rental income: $413,568
• − Mortgage interest: −$254,871
• − Property taxes: −$68,250
• − Insurance: −$22,750
• − Repairs & maintenance: −$33,085
• − Management: −$33,085
• − Depreciation: −$132,364
• Taxable loss: −$130,837
• Est. tax savings @ 24.0%: +$31,401
• After-tax cash flow: $-19,209/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: Carbon District
• NCES district ID: 4900150
• Math proficiency: 36% ▼ -7.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $45,189
• Composite: 33.6/100
• National rank: #5416
• State rank: #53 of 80 in UT

Livability — Wellington

• Score: 63/100
• State rank: #184
• US rank: #15555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellington, UT
• Population (ZIP): 1,526

Population outlook (Carbon County) Hauer SSP2

• Today (2025): 18,972 people
• By 2030: 18,081 · -4.7%
• By 2040: 16,260 · -14.3%
• By 2050: 14,895 · -21.5%
• By 2075: 13,123 · -30.8%
• By 2100: 13,066 · -31.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 12% Two or more races 7%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Italian 7% Slovak 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Carbon

• 2024 margin: Solid R (+44.4) · D 26.7% · R 71.1% · Other 2.1%
• 2008→2024 swing: -36.4pp toward R · 2008: -8.0pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+45.9 2016: R+44.6 2012: R+36.4 2008: R+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 46.58%
• Current HPI: 268.73
• 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

+8.3% since first listed

9 events — show timeline

• 2025-10-11 Listed $4,550,000 WFRMLS
• 2022-03-31 Sold (MLS) — WFRMLS
• 2022-02-17 Contingent — WFRMLS
• 2022-02-03 Relisted — WFRMLS
• 2021-12-09 Contingent — WFRMLS
• 2021-11-29 Relisted — WFRMLS
• 2021-10-07 Contingent — WFRMLS
• 2021-09-21 Price Changed $3,700,000 WFRMLS
• 2021-07-07 Listed $4,200,000 WFRMLS