3870 N Minersville #35

Enoch, UT 84721

$27,500D+

2 bd · 1.5 ba · 980 sqft · Built 1983 · Manufactured · Under Contract · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,466/mo
• Mortgage (P&I): −$144
• Tax + insurance: −$46
• HOA: −$0
• Vac / Maint / Mgmt: −$308
• Net cashflow: $968/mo
• Annual: $11,613/yr
• Cap rate: 48.52%
• Cash-on-cash: 150.82%
• DSCR: 7.71
• 1% rule: 5.33%
• Cash to close: $7,700

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $28k.
• At list price, monthly cash flow is $968 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• It's been on market 41 days — a 3% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $27k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $190 of loan paydown is wiped out by about $825 of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#107 in UT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: amenities F, commute F, health & safety F.
• Iron District (town): math 40% / reading 44% proficiency, ranked #42 of 80 in UT (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Enoch School (math 49% / reading 39%, grade F, #256 of 585 statewide, top 44%, 593 students, 40% FRL); Canyon View Middle (math 32% / reading 46%, grade F, #79 of 138 statewide, top 58%, 989 students, 43% FRL); Canyon View High (math 27% / reading 42%, grade F, #95 of 171 statewide, top 61%, 1,123 students, 34% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: Rents rising fast (+5.0%/yr); 819 active listings in the ZIP; 655 units permitted in Iron County in 2024 (0 in 5+ unit buildings).
• Iron County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 11 sale attempts since 8y ago; this cycle's ask has dropped $22k (45%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.
• 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.