935 E 3000 N #26

Layton, UT 84040

$39,900F

2 bd · 1.0 ba · 900 sqft · Built 2000 · Manufactured · Active · 137 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,370/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$66
• HOA: −$1,022
• Vac / Maint / Mgmt: −$288
• Net cashflow: $-215/mo
• Annual: $-2,581/yr
• Cap rate: -0.18%
• Cash-on-cash: -23.10%
• DSCR: -0.03
• 1% rule: 3.43%
• Cash to close: $11,172

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $40k.
• At list price, monthly cash flow is $-215 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $9k (78.0% below list).
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 137 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $9k (78.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#11 in UT, #457 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• Davis District (suburban): math 43% / reading 47% proficiency, ranked #28 of 80 in UT (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Mountain View School (math 50% / reading 50%, grade D+, #161 of 585 statewide, top 29%, 781 students, 21% FRL); North Layton Jr High (math 39% / reading 40%, grade F, #75 of 138 statewide, top 56%, 1,009 students, 30% FRL); Northridge High (math 24% / reading 43%, grade F, #106 of 171 statewide, top 62%, 1,954 students, 23% FRL).
• Watch-outs: HOA is 75% of rent.
• Market conditions: 187 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,461 units permitted in Davis County in 2024 (508 in 5+ unit buildings).
• Davis County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 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: moderate flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• This rent is only 13% of the median local income ($128k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 137 days. Have you received any prior offers? Is the seller open to a 78% 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.
• 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.