47 N 200 E

Manti, UT 84642

$259,000C

3 bd · 1.0 ba · 1,528 sqft · Built 1885 · SingleFamily · Active · 140 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,609/mo
• Mortgage (P&I): −$1,358
• Tax + insurance: −$205
• HOA: −$0
• Vac / Maint / Mgmt: −$548
• Net cashflow: $497/mo
• Annual: $5,969/yr
• Cap rate: 8.60%
• Cash-on-cash: 8.23%
• DSCR: 1.37
• 1% rule: 1.01%
• Cash to close: $72,520

Investor read

• This is a 3-bed/1.0-bath single-family listed at $259k.
• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• It's been on market 140 days — a 12% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $228k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#101 in UT) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment D-.
• South Sanpete District (town): math 40% / reading 42% proficiency, ranked #48 of 80 in UT (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Manti School (math 42% / reading 37%, grade F, #332 of 585 statewide, top 58%, 436 students, 49% FRL); Ephraim Middle (math 38% / reading 44%, grade F, #66 of 138 statewide, top 49%, 494 students, 44% FRL); Manti High (math 32% / reading 42%, grade F, #78 of 171 statewide, top 49%, 693 students, 36% FRL).
• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 52 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 266 units permitted in Sanpete County in 2024 (44 in 5+ unit buildings).
• Sanpete County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $31k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.