1239 W 400 N #63

Clearfield, UT 84015

$49,900B-

3 bd · 1.0 ba · 924 sqft · Built 1973 · Manufactured · Active · 206 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,815/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$950
• Vac / Maint / Mgmt: −$381
• Net cashflow: $139/mo
• Annual: $1,665/yr
• Cap rate: 9.63%
• Cash-on-cash: 11.92%
• DSCR: 1.53
• 1% rule: 3.64%
• Cash to close: $13,972

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• It's been on market 206 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• 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 78/100 on livability (#45 in UT, #2,413 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment B+; Watch: amenities D-.
• 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: Holt School (math 25% / reading 22%, grade F, #494 of 585 statewide, top 85%, 458 students, 41% FRL); West Point Jr High (math 43% / reading 44%, grade D, #51 of 138 statewide, top 38%, 1,469 students, 15% FRL); Clearfield High (math 23% / reading 41%, grade F, #111 of 171 statewide, top 68%, 2,030 students, 22% FRL).
• Zoned-school proficiency averages 33% at this address vs 45% district-wide (-12 pts) — the specific schools serving this property underperform the Davis District average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 52% of rent.
• Market conditions: Rents rising (+2.2%/yr); 387 active listings in the ZIP; 9 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; 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.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1973 — 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.