8615 N Hwy 89 N Unit 10 S

South Willard, UT 84340

$50,000D

2 bd · 2.0 ba · 938 sqft · Built 1995 · SingleFamily · Under Contract · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,209/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$650
• Vac / Maint / Mgmt: −$254
• Net cashflow: $-40/mo
• Annual: $-482/yr
• Cap rate: 5.33%
• Cash-on-cash: -3.44%
• DSCR: 0.85
• 1% rule: 2.42%
• Cash to close: $14,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $-40 ($-482/yr) — negative.
• To cash-flow at today's rent, offer at most $44k (11.6% below list).
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 24 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (11.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#109 in UT) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A; Watch: cost of living D+, amenities F, health & safety F.
• Box Elder District (town): math 41% / reading 42% proficiency, ranked #38 of 80 in UT (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Willard School (298 students, 24% FRL); Box Elder High (math 29% / reading 50%, grade F, #65 of 171 statewide, top 39%, 1,583 students, 23% FRL).
• Watch-outs: HOA is 54% of rent.
• Market conditions: 85 active listings in the ZIP; 461 units permitted in Box Elder County in 2024 (62 in 5+ unit buildings).
• Box Elder County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 27y 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.
• Climate carrying-cost: major 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?
• 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 F-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.