6424 S 840 W

Murray, UT 84123

$69,900B-

2 bd · 1.0 ba · 1,000 sqft · Built 1975 · Manufactured · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,653/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$347
• Net cashflow: $823/mo
• Annual: $9,875/yr
• Cap rate: 20.42%
• Cash-on-cash: 50.45%
• DSCR: 3.24
• 1% rule: 2.37%
• Cash to close: $19,572

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $823 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• It's been on market 63 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#29 in UT, #1,169 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A; Watch: cost of living C-, crime D.
• Murray District (suburban): math 37% / reading 43% proficiency, ranked #46 of 80 in UT (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grant School (math 52% / reading 42%, grade D-, #202 of 585 statewide, top 36%, 338 students, 29% FRL); Riverview Jr High (math 48% / reading 48%, grade C-, #37 of 138 statewide, top 26%, 618 students, 21% FRL); Murray High (math 29% / reading 45%, grade F, #78 of 171 statewide, top 49%, 1,400 students, 24% FRL).
• Market conditions: Rents falling (-8.7%/yr); 183 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).
• Salt Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 28y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.