883 N 900 E

Price, UT 84501

$225,000F

3 bd · 1.0 ba · 952 sqft · Built 1955 · Other · Active · 75 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $896/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$188
• Net cashflow: $-638/mo
• Annual: $-7,653/yr
• Cap rate: 2.89%
• Cash-on-cash: -12.15%
• DSCR: 0.46
• 1% rule: 0.40%
• Cash to close: $63,000

Investor read

• This is a 3-bed/1.0-bath other listed at $225k.
• At list price, monthly cash flow is $-638 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (50.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (60.2% below list).
• It's been on market 75 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (60.2% 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 69/100 on livability (#102 in UT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Carbon District (town): math 36% / reading 43% proficiency, ranked #53 of 80 in UT (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Castle Heights School (math 50% / reading 43%, grade D-, #215 of 585 statewide, top 37%, 422 students, 46% FRL); Mont Harmon Middle (math 36% / reading 44%, grade F, #72 of 138 statewide, top 53%, 601 students, 45% FRL); Carbon High (math 17% / reading 42%, grade F, #124 of 171 statewide, top 74%, 1,023 students, 34% FRL) — zoned schools at 42% FRL track the district average.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 146 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 196 units permitted in Carbon County in 2024 (168 in 5+ unit buildings).
• Carbon County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: moderate wildfire risk — 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 75 days. Have you received any prior offers? Is the seller open to a 60% concession, seller financing, or rate buy-down credit?
• Built in 1955 — 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.
• 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.