235 E Biltmore Ave S #460 · Murray, UT 84107

$77,000

2 bd · 2.0 ba · 990 sqft · Manufactured · 2 Days on market

Built 1993 4,356 sqft lot $1/mo HOA ↓ 9% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Key facts

• 4,356 sq ft lot
• 2 parking spots
• Community pool

Property features AI

Finance

• HOA & community: Homeowners association (Nicolas); Annual HOA fee of $15; HOA covers insurance, sewer, trash and water; Community amenities include clubhouse, pool, RV parking, gated entry, management, snow removal, and pet rules (pets permitted); Located in a senior community (Cottonwood Coves subdivision)

Exterior

• Parking: Two total parking spaces; Two covered parking spaces; Two carport spaces; Carport; RV parking and common RV parking; Open/uncovered parking available
• Security: Gated community (HOA amenity)
• Utilities: Natural gas connected; Electricity connected; Public sewer connected; Culinary water connected
• Home design: Mobile home style; Single-level living (accessible features, grip-accessible); Faces south; Built/standing condition (effective year 2025)
• Construction: Asphalt roof; Asphalt construction materials; Built/standing (effective 2025)
• Exterior features: Bay box windows; Covered deck; Open patio; Outbuildings; Storage shed(s); Fruit trees, vegetable garden and mature landscaping; Xeriscaped areas; Paved road access

Interior

• Kitchen: Gas oven; Built-in range/oven; Microwave; Range hood; Refrigerator; Updated kitchen counters (granite)
• Bedrooms: Two main-level bedrooms; Primary bedroom on the 1st floor
• Flooring: Hardwood; Laminate; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Primary bathroom with separate tub and shower; Updated kitchen; Built-in range/oven; Disposal; Vaulted ceilings; Granite countertops; Partially upgraded windows
• Laundry & utility: Disposal

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $77k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $77k).

Location & tenants

• 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: Mcmillan School (math 52% / reading 60%, grade C+, #88 of 585 statewide, top 16%, 481 students, 27% FRL); Hillcrest Jr High (math 24% / reading 31%, grade F, #113 of 138 statewide, top 83%, 776 students, 39% FRL); Murray High (math 29% / reading 45%, grade F, #78 of 171 statewide, top 49%, 1,400 students, 24% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: Rents falling (-3.0%/yr); 230 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $532 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Salt Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.85% ✓
• Cap rate: 15.53%
• Cash-on-cash: 32.98%
• DSCR: 2.47
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 1.78×
• Total profit: $16,913
• Equity at exit: $11,481

10-year hold

• IRR: 26.1%
• Equity multiple: 2.95×
• Total profit: $41,986
• Equity at exit: $6,658

Cash invested: $21,560 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 86 Strongly Landlord-Friendly
• State Utah: 86 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

3-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 84107

• Rents YoY: -3.0%
• Active inventory: 230
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,425 high
• Mortgage (P&I): −$404
• Tax est. 1.5%: −$96 /mo · $1,155/yr
• Insurance: −$32
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $526

Break-even live

Break-even rent $759

Max offer price $77,000

Occupancy floor 58%

Sensitivity live

Price	-10% $579	-5% $553	+0% $526	+5% $499	+10% $473
Rent	-10% $413	-5% $470	+0% $526	+5% $582	+10% $639
Rate	-1.0pp $565	-0.5pp $546	base $526	+0.5pp $506	+1.0pp $486

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $19,250
• Closing costs: $2,310
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4371 S Fairbourne Ave Unit 11 Murray, UT	2.0	1.0	820	$1,095	$1.34	17d	1	0.09mi
4150 S 300 E Salt Lake City, UT	1.0–2.0	1.0–2.0	844	$2,179	$2.58	4d	17	0.24mi
4277 S Main St Salt Lake City, UT	2.0	1.0–2.0	594	$1,192	$2.01	5d	1	0.32mi
215 E 4600 S Apt 4 Murray, UT	2.0	1.0	850	$1,250	$1.47	5d	1	0.33mi
16 E Gilbride Ave Salt Lake City, UT	1.0	1.0	633	$1,100	$1.74	5d	10	0.34mi
4410 S Main St Salt Lake City, UT	2.0	1.0–2.0	892	$2,810	$3.15	4d	76	0.37mi
47 W Fireclay Ave Salt Lake City, UT	1.0–2.0	1.0–2.0	902	$2,088	$2.31	4d	36	0.38mi
4197 S Main St Millcreek, UT	3.0	1.0–2.0	891	$1,609	$1.80	4d	13	0.39mi
340 E Gordon Ln Salt Lake City, UT	2.0	1.0	850	$1,295	$1.52	5d	3	0.39mi
4080 S 300 E Unit A Millcreek, UT	1.0	1.0	900	$800	$0.89	25d	1	0.39mi
4150 S 500 E Salt Lake City, UT	1.0–2.0	1.0–2.0	832	$1,325	$1.59	25d	1	0.44mi
54 W Fireclay Ave Salt Lake City, UT	1.0–2.0	1.0–2.0	962	$1,775	$1.84	25d	1	0.46mi
293 E Hill Ave Unit 10 Millcreek, UT	3.0	2.0	1030	$1,195	$1.16	16d	1	0.48mi
4115 S 430 E Millcreek, UT	1.0–2.0	1.0–1.5	876	$1,350	$1.54	17d	13	0.48mi
136 W Fireclay Ave Murray, UT	1.0–3.0	1.0–2.0	991	$1,395	$1.41	5d	12	0.53mi
144 W 4250 S Murray, UT	1.0	1.0	638	$930	$1.46	25d	1	0.54mi
335 E Woodlake Dr Salt Lake City, UT	1.0–2.0	1.0–2.0	881	$1,561	$1.77	3d	11	0.54mi
514 E 4090 S Salt Lake City, UT	1.0–2.0	1.0–2.0	825	$1,521	$1.84	4d	25	0.58mi
162 W 4490 S Murray, UT	1.0–3.0	1.0–2.0	854	$1,554	$1.82	25d	22	0.59mi
486 E Aspen Meadows Ct Salt Lake City, UT	1.0	1.0	890	$1,550	$1.74	25d	1	0.59mi
3993 S Main St Millcreek, UT	1.0–2.0	1.0–2.0	838	$1,650	$1.97	4d	25	0.60mi
480 E Brandt Ct Salt Lake City, UT	2.0–3.0	1.5	1200	$1,609	$1.34	5d	4	0.67mi
4320 S 700 E Salt Lake City, UT	2.0	1.0	920	$1,314	$1.43	4d	3	0.68mi
2 Regal St Murray, UT	2.0	1.0	1004	$1,195	$1.19	5d	7	0.73mi
3910 S Main St Millcreek, UT	1.0–2.0	1.0–2.0	747	$1,652	$2.21	5d	6	0.76mi
265 Rigdon Ave Unit 1 South Salt Lake, UT	2.0	1.0	900	$1,195	$1.33	22d	1	0.83mi
212 4800 S Murray, UT	3.0	1.0	1066	$1,845	$1.73	5d	1	0.91mi
184 E Vine St Salt Lake City, UT	2.0	2.0	962	$1,899	$1.97	5d	4	0.93mi
3808 S West Temple South Salt Lake, UT	2.0	1.0–2.0	786	$1,830	$2.33	3d	10	0.93mi
3708 S McCall St South Salt Lake, UT	2.0	1.0	885	$1,300	$1.47	17d	1	0.94mi
3708 S McCall St South Salt Lake, UT	2.0	1.0	885	$1,300	$1.47	15d	1	0.94mi
4950 S State St Salt Lake City, UT	1.0	1.0	485	$1,160	$2.39	5d	18	0.96mi
3680 S 300 E Apt 1 South Salt Lake, UT	1.0	1.0	600	$1,000	$1.67	17d	1	0.97mi
3653 S 200 E South Salt Lake, UT	2.0	1.0	700	$1,025	$1.46	25d	1	0.99mi
4756 East Murray, UT	2.0	1.0	900	$1,500	$1.67	25d	1	1.00mi
4545 S Arcadia Green Way Salt Lake City, UT	2.0	2.0	1000	$1,425	$1.43	3d	4	1.00mi
181 E Helm Ave Unit B South Salt Lake, UT	1.0	1.0	650	$1,150	$1.77	25d	1	1.05mi
4070 S 900 E Salt Lake City, UT	1.0–2.0	1.0	837	$1,451	$1.73	3d	5	1.05mi
196 Baird Ave Apt 4 South Salt Lake, UT	1.0	1.0	608	$945	$1.55	25d	1	1.08mi
188 Baird Ave Apt 1 South Salt Lake, UT	1.0	1.0	800	$950	$1.19	25d	1	1.08mi

HOA detail

• Monthly dues: $1 · $12/yr

Listing history 6 events

1. 2026-05-13
   status Under Contract
2. 2026-05-11
   listed $77,000 Active
3. 2026-05-11
   historical
4. 2026-02-20
   price $74,897
5. 2025-11-06
   price $80,000
6. 2025-08-20
   listed $84,999 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,098
• − Mortgage interest: −$4,313
• − Property taxes: −$1,155
• − Insurance: −$1,182
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − HOA: −$12
• − Depreciation: −$2,240
• Taxable income: $5,459
• Est. tax owed @ 24.0%: −$1,310
• After-tax cash flow: $5,002/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Murray District
• NCES district ID: 4900600
• Math proficiency: 37% ▼ -8.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $53,804
• Composite: 34.84/100
• National rank: #5096
• State rank: #46 of 80 in UT

Livability — Murray

• Score: 82/100
• State rank: #29
• US rank: #1169

Category grades

Amenities B Commute A+ Cost of living C- Crime D Employment A- Housing A+ Health & safety A User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Murray, UT
• County: Salt Lake County · 1,195,750 people
• City population: 38,257
• Metro: Salt Lake City, UT
• Population (ZIP): 38,257
• Household income: $72,108
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 2149.0

Population outlook (Salt Lake County) Hauer SSP2

• Today (2025): 1,305,860 people
• By 2030: 1,402,611 · +7.4%
• By 2040: 1,594,533 · +22.1%
• By 2050: 1,787,244 · +36.9%
• By 2075: 2,224,138 · +70.3%
• By 2100: 2,551,390 · +95.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 18% Two or more races 12% Asian 5% Black 4% Pacific Islander 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Slovak 4% Iranian 2%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 78% English-only · Spanish 10% Other Indo-European 4% Other Asian/Pacific 2%

Political lean MEDSL · Salt Lake

• 2024 margin: D (+10.2) · D 53.7% · R 43.5% · Other 2.8%
• 2008→2024 swing: +10.1pp toward D · 2008: 0.1pp · 2024: 10.2pp
• All cycles: 2024: D+10.2 2020: D+11.0 2016: D+10.2 2012: R+19.3 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -404.21%
• Current HPI: 309.8745
• Rent YoY: ▼ -3.04%
• Metro: Salt Lake City, UT
• State GDP YoY: ▲ 3.54%
• F500 in state: 2

Industry mix (Fortune 500 HQ in UT)

Industry	F500 HQs	Revenue
▸Financial Services	1	$3B

Price history

-9.4% since first listed

6 events — show timeline

• 2026-05-13 Pending — WFRMLS
• 2026-05-11 Listed $77,000 WFRMLS
• 2026-05-11 Listing Removed — WFRMLS
• 2026-02-20 Price Changed $74,897 WFRMLS
• 2025-11-06 Price Changed $80,000 WFRMLS
• 2025-08-20 Listed $84,999 WFRMLS