275 N Main #31

Centerfield, UT 84622

$100,000D-

3 bd · 2.0 ba · 1,064 sqft · Built 2022 · Manufactured · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,039/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$167
• HOA: −$450
• Vac / Maint / Mgmt: −$218
• Net cashflow: $-320/mo
• Annual: $-3,841/yr
• Cap rate: 2.45%
• Cash-on-cash: -13.72%
• DSCR: 0.39
• 1% rule: 1.04%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated good.
• At list price, monthly cash flow is $-320 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $54k (46.3% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 59 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (46.3% below list) — sets the bar for cash-flow.
• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#142 in UT) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• South Sanpete District (town): math 40% / reading 42% proficiency, ranked #48 of 80 in UT (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gunnison Valley School (math 40% / reading 40%, grade F, #326 of 585 statewide, top 56%, 544 students, 54% FRL); Gunnison Valley Middle (math 31% / reading 36%, grade F, #98 of 138 statewide, top 72%, 252 students, 45% FRL); Gunnison Valley High (math 22% / reading 42%, grade F, #111 of 171 statewide, top 68%, 352 students, 38% FRL).
• Watch-outs: HOA is 43% of rent.
• Market conditions: 18 active listings in the ZIP; 266 units permitted in Sanpete County in 2024 (44 in 5+ unit buildings).
• Sanpete County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 59 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.