3900 W 120 N

Hurricane, UT 84737

$235,000F

2 bd · 2.0 ba · 924 sqft · Built 1994 · Manufactured · Active · 131 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,639/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$165
• HOA: −$80
• Vac / Maint / Mgmt: −$344
• Net cashflow: $-183/mo
• Annual: $-2,197/yr
• Cap rate: 5.36%
• Cash-on-cash: -3.34%
• DSCR: 0.85
• 1% rule: 0.70%
• Cash to close: $65,800

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $235k.
• At list price, monthly cash flow is $-183 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (30.3% below list).
• It's been on market 131 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (30.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#163 in UT) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• 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: Coral Canyon School (math 28% / reading 33%, grade F, #432 of 585 statewide, top 74%, 565 students, 50% FRL); Tonaquint Intermediate (math 31% / reading 38%, grade F, #96 of 138 statewide, top 69%, 735 students, 42% FRL); Hurricane High (math 23% / reading 53%, 1,201 students, 30% FRL).
• Market conditions: Rents rising (+2.7%/yr); 1038 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.
• 7 sale attempts since 17y 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 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 131 days. Have you received any prior offers? Is the seller open to a 30% 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.
• 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.
• 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.