2031 N Golden Ruby Dr E

Saratoga Springs, UT 84045

$469,996D-

4 bd · 2.5 ba · 2,458 sqft · Built 2024 · SingleFamily · Active · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,654/mo
• Mortgage (P&I): −$2,465
• Tax + insurance: −$366
• HOA: −$120
• Vac / Maint / Mgmt: −$557
• Net cashflow: $-854/mo
• Annual: $-10,247/yr
• Cap rate: 4.11%
• Cash-on-cash: -7.79%
• DSCR: 0.65
• 1% rule: 0.56%
• Cash to close: $131,599

Investor read

• This is a 4-bed/2.5-bath single-family listed at $470k.
• At list price, monthly cash flow is $-854 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $319k (32.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (43.5% below list).
• It's been on market 61 days — a 6% lower offer ($442k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $265k (43.5% below list) — sets the bar for 1% rule.
• In year one you build about $50k of equity ($3k loan paydown + $47k appreciation (10.0% local appreciation)).
• Location reads 70/100 on livability (#93 in UT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Alpine District (suburban): math 45% / reading 50% proficiency, ranked #25 of 80 in UT (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Harvest School (math 56% / reading 51%, grade C, #122 of 585 statewide, top 21%, 1,046 students, 15% FRL); Westlake High (math 39% / reading 48%, grade F, #50 of 171 statewide, top 29%, 2,659 students, 12% FRL).
• Market conditions: Rents flat; 1175 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• By year 2, paydown + projected appreciation supports a ~$81k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 44% 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.
• 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.