1050 E 800 N #22

Spanish Fork, UT 84660

$97,500F

3 bd · 2.0 ba · 891 sqft · Built 2017 · Manufactured · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,268/mo
• Mortgage (P&I): −$511
• Tax + insurance: −$162
• HOA: −$740
• Vac / Maint / Mgmt: −$266
• Net cashflow: $-412/mo
• Annual: $-4,944/yr
• Cap rate: 1.22%
• Cash-on-cash: -18.11%
• DSCR: 0.19
• 1% rule: 1.30%
• Cash to close: $27,300

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $98k.
• At list price, monthly cash flow is $-412 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $38k (61.1% below list).
• Meets the 1% rule at list price ($1k rent vs $98k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $38k (61.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $674 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#26 in UT, #1,012 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living C-, amenities F.
• Nebo District (suburban): math 38% / reading 40% proficiency, ranked #45 of 80 in UT (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rees School (math 43% / reading 33%, grade F, #349 of 585 statewide, top 60%, 641 students, 31% FRL); Maple Mountain High (math 35% / reading 55%, grade D-, #43 of 171 statewide, top 25%, 1,740 students, 10% FRL).
• Watch-outs: HOA is 58% of rent.
• Market conditions: Rents rising (+3.6%/yr); 575 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,326 units permitted in Utah County in 2024 (1,053 in 5+ unit buildings).
• Utah County population projected at +49% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 26y 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.
• This rent is only 15% of the median local income ($104k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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?
• 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 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.
• 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.