1450 N Dixie Downs Rd #92

St. George, UT 84770

$100,000C+

4 bd · 2.0 ba · 1,400 sqft · Built 1982 · Manufactured · Pending · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,922/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$167
• HOA: −$600
• Vac / Maint / Mgmt: −$404
• Net cashflow: $227/mo
• Annual: $2,729/yr
• Cap rate: 9.02%
• Cash-on-cash: 9.74%
• DSCR: 1.43
• 1% rule: 1.92%
• Cash to close: $28,000

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $100k. Condition is rated good.
• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 70 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Washington District (urban): math 42% / reading 45% proficiency, ranked #37 of 80 in UT (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Paradise Canyon (math 31% / reading 24%, grade F, #451 of 585 statewide, top 77%, 478 students, 62% FRL); Lava Ridge Intermediate (math 43% / reading 40%, grade F, #61 of 138 statewide, top 47%, 815 students, 42% FRL); Snow Canyon High (math 32% / reading 48%, grade F, #62 of 171 statewide, top 36%, 1,266 students, 30% FRL).
• Watch-outs: HOA is 31% of rent.
• Market conditions: Rents rising (+2.4%/yr); 779 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 3,140 units permitted in Washington County in 2024 (650 in 5+ unit buildings).
• Washington County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $50k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 33% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% 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?
• 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.