1101 S Carbon Ave #93

Price, UT 84501

$38,000C+

2 bd · 1.0 ba · 838 sqft · Built 1972 · Manufactured · Active · 104 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $996/mo
• Mortgage (P&I): −$199
• Tax + insurance: −$63
• HOA: −$425
• Vac / Maint / Mgmt: −$209
• Net cashflow: $99/mo
• Annual: $1,193/yr
• Cap rate: 9.43%
• Cash-on-cash: 11.21%
• DSCR: 1.50
• 1% rule: 2.62%
• Cash to close: $10,640

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $38k. Condition is rated fair.
• At list price, monthly cash flow is $99 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $38k).
• It's been on market 104 days — a 9% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#102 in UT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, amenities F, commute F.
• Carbon District (town): math 36% / reading 43% proficiency, ranked #53 of 80 in UT (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 43% of rent.
• Market conditions: 146 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 196 units permitted in Carbon County in 2024 (168 in 5+ unit buildings).
• Carbon County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1972 — 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of updating
• Moderate: kitchen appliances — outdated and in need of replacement
• Moderate: interior paint — faded and could benefit from fresh paint