261 E Solomons Way

Manila, UT 84046

$105,000C

2 bd · 1.0 ba · 1,008 sqft · Built 1975 · Other · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $999/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$129
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $109/mo
• Annual: $1,313/yr
• Cap rate: 7.54%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• 1% rule: 0.95%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath other listed at $105k.
• At list price, monthly cash flow is $109 ($1k/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 $100k (4.9% below list).
• It's been on market 15 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (4.9% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($726 loan paydown + $2k appreciation (1.5% local appreciation)).
• Location reads 61/100 on livability (#221 in UT) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A; Watch: amenities F, commute F, housing F.
• Daggett District (rural): math 45% / reading 55% proficiency, ranked #44 of 110 in UT (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 26 active listings in the ZIP; 18 units permitted in Daggett County in 2024 (0 in 5+ unit buildings).
• Daggett County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.5% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.