2990 E Riverside Dr #58

St. George, UT 84790

$159,000D-

1 bd · 1.0 ba · 536 sqft · Built 1994 · Manufactured · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,328/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$114
• HOA: −$95
• Vac / Maint / Mgmt: −$279
• Net cashflow: $7/mo
• Annual: $83/yr
• Cap rate: 6.35%
• Cash-on-cash: 0.19%
• DSCR: 1.01
• 1% rule: 0.84%
• Cash to close: $44,520

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $159k.
• At list price, monthly cash flow is $7 ($83/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (16.4% below list).
• It's been on market 83 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $133k (16.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Washington District (urban): math 42% / reading 45% proficiency, ranked #37 of 80 in UT (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Panorama School (math 34% / reading 35%, grade F, #395 of 585 statewide, top 69%, 496 students, 58% FRL); Pine View High (math 29% / reading 48%, grade F, #74 of 171 statewide, top 43%, 1,143 students, 33% FRL).
• Market conditions: Rents flat; 976 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,140 units permitted in Washington County in 2024 (650 in 5+ unit buildings).
• Washington County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts 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.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent is only 18% of the median local income ($91k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 16% 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.
• 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.