176 Cushing Way

Layton, UT 84041

$102,500D-

3 bd · 2.0 ba · 1,493 sqft · Built 2025 · Manufactured · Active · 178 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,948/mo
• Mortgage (P&I): −$538
• Tax + insurance: −$171
• HOA: −$999
• Vac / Maint / Mgmt: −$409
• Net cashflow: $-169/mo
• Annual: $-2,024/yr
• Cap rate: 4.32%
• Cash-on-cash: -7.05%
• DSCR: 0.69
• 1% rule: 1.90%
• Cash to close: $28,700

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $102k.
• At list price, monthly cash flow is $-169 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $78k (23.8% below list).
• Meets the 1% rule at list price ($2k rent vs $102k).
• It's been on market 178 days — a 12% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (23.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $709 of loan paydown is wiped out by about $3k 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: Lincoln School (math 13% / reading 16%, grade F, #559 of 585 statewide, top 96%, 703 students, 42% 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).
• Zoned-school proficiency averages 29% at this address vs 45% district-wide (-16 pts) — the specific schools serving this property underperform the Davis District average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 51% of rent.
• Market conditions: Rents rising (+1.3%/yr); 342 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.

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 178 days. Have you received any prior offers? Is the seller open to a 24% 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.