3086 Justice St W

West Valley City, UT 84119

$80,300D

3 bd · 2.0 ba · 1,456 sqft · Built 2001 · Manufactured · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,708/mo
• Mortgage (P&I): −$421
• Tax + insurance: −$134
• HOA: −$810
• Vac / Maint / Mgmt: −$359
• Net cashflow: $-15/mo
• Annual: $-185/yr
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• 1% rule: 2.13%
• Cash to close: $22,484

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $80k.
• At list price, monthly cash flow is $-15 ($-185/yr) — negative.
• To cash-flow at today's rent, offer at most $78k (2.8% below list).
• Meets the 1% rule at list price ($2k rent vs $80k).
• It's been on market 108 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $555 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#55 in UT, #3,285 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: schools F, crime D-, amenities F.
• Granite District (suburban): math 26% / reading 32% proficiency, ranked #69 of 80 in UT (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: HOA is 47% of rent.
• Market conditions: Rents flat; 227 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).
• Salt Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

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 108 days. Have you received any prior offers? Is the seller open to a 9% 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?