2109 S 3400 W

Syracuse, UT 84075

$305,000D-

3 bd · 1.0 ba · 1,008 sqft · Built 1980 · SingleFamily · Under Contract

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,243/mo
• Mortgage (P&I): −$1,599
• Tax + insurance: −$307
• HOA: −$0
• Vac / Maint / Mgmt: −$471
• Net cashflow: $-134/mo
• Annual: $-1,609/yr
• Cap rate: 5.77%
• Cash-on-cash: -1.88%
• DSCR: 0.92
• 1% rule: 0.74%
• Cash to close: $85,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $305k.
• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (26.5% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $224k (26.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#8 in UT, #353 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living F.
• 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: Buffalo Point School (math 42% / reading 42%, grade F, #287 of 585 statewide, top 52%, 938 students, 11% FRL); Syracuse Jr High (math 33% / reading 44%, grade F, #82 of 138 statewide, top 60%, 1,359 students, 14% FRL); Syracuse High (math 27% / reading 45%, grade F, #90 of 171 statewide, top 53%, 2,452 students, 13% FRL).
• Market conditions: 202 active listings in the ZIP; high-income renter base; 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.

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?
• 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.
• 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.