332 Joshua St

Tooele, UT 84074

$76,000B

3 bd · 1.5 ba · 950 sqft · Built 1981 · Manufactured · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,549/mo
• Mortgage (P&I): −$399
• Tax + insurance: −$127
• HOA: −$400
• Vac / Maint / Mgmt: −$325
• Net cashflow: $299/mo
• Annual: $3,586/yr
• Cap rate: 11.01%
• Cash-on-cash: 16.85%
• DSCR: 1.75
• 1% rule: 2.04%
• Cash to close: $21,280

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $76k. Condition is rated average.
• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $76k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $525 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#52 in UT, #3,142 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: amenities F.
• Tooele District (town): math 32% / reading 34% proficiency, ranked #62 of 80 in UT (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northlake School (math 33% / reading 28%, grade F, #432 of 585 statewide, top 74%, 619 students, 37% FRL); Tooele Jr High (math 33% / reading 28%, grade F, #106 of 138 statewide, top 77%, 733 students, 54% FRL); Tooele High (math 23% / reading 37%, grade F, #119 of 171 statewide, top 71%, 1,768 students, 25% FRL).
• Watch-outs: HOA is 26% of rent.
• Market conditions: Rents rising (+2.5%/yr); 579 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 867 units permitted in Tooele County in 2024 (87 in 5+ unit buildings).
• Tooele County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.
• This rent is only 17% of the median local income ($108k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — existing cabinets need updating
• Minor: bathroom vanity — existing vanity needs updating
• Minor: HVAC system — existing system may need cleaning or minor repairs