5394 S Aquamarine Ln

St. George, UT 84790

$199,999C-

5 bd · 5.0 ba · 2,604 sqft · Built 2023 · Condo · Active · 264 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,522/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$586
• HOA: −$59
• Vac / Maint / Mgmt: −$530
• Net cashflow: $298/mo
• Annual: $3,579/yr
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• 1% rule: 1.26%
• Cash to close: $56,000

Investor read

• This is a 5-bed/5.0-bath condo listed at $200k.
• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• It's been on market 264 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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: Sunrise Ridge Intermediate (math 52% / reading 54%, grade C+, #17 of 138 statewide, top 12%, 810 students, 17% FRL); Desert Hills High (math 47% / reading 58%, grade C-, #22 of 171 statewide, top 13%, 1,210 students, 15% FRL) — zoned schools average 16% FRL vs 36% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 3.0% of price.
• Market conditions: Rents flat; 980 active listings in the ZIP; solid renter incomes; 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.
• 5 sale attempts since 3y ago 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.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/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 ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 264 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.