202 E 300 N

Manti, UT 84642

$297,500D-

5 bd · 1.5 ba · 2,037 sqft · Built 1900 · SingleFamily · Active · 117 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,773/mo
• Mortgage (P&I): −$1,560
• Tax + insurance: −$206
• HOA: −$0
• Vac / Maint / Mgmt: −$372
• Net cashflow: $-366/mo
• Annual: $-4,394/yr
• Cap rate: 4.82%
• Cash-on-cash: -5.27%
• DSCR: 0.77
• 1% rule: 0.60%
• Cash to close: $83,300

Investor read

• This is a 5-bed/1.5-bath single-family listed at $298k.
• At list price, monthly cash flow is $-366 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (40.4% below list).
• It's been on market 117 days — a 9% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (40.4% 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 69/100 on livability (#101 in UT) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment D-.
• 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.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 52 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.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $28k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 117 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.