248 W 200 S

Ephraim, UT 84627

$415,000D-

6 bd · 3.0 ba · 2,812 sqft · Built 2021 · SingleFamily · Under Contract · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,359/mo
• Mortgage (P&I): −$2,176
• Tax + insurance: −$383
• HOA: −$0
• Vac / Maint / Mgmt: −$495
• Net cashflow: $-695/mo
• Annual: $-8,345/yr
• Cap rate: 4.28%
• Cash-on-cash: -7.18%
• DSCR: 0.68
• 1% rule: 0.57%
• Cash to close: $116,200

Investor read

• This is a 6-bed/3.0-bath single-family listed at $415k.
• At list price, monthly cash flow is $-695 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (29.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (43.2% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $236k (43.2% below list) — sets the bar for 1% rule.
• In year one you build about $44k of equity ($3k loan paydown + $42k appreciation (10.0% local appreciation)).
• Location reads 73/100 on livability (#71 in UT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: employment C-, amenities D+, commute F.
• South Sanpete District (town): math 40% / reading 42% proficiency, ranked #48 of 80 in UT (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ephraim School (math 61% / reading 49%, grade C, #99 of 585 statewide, top 18%, 527 students, 50% FRL); Ephraim Middle (math 38% / reading 44%, grade F, #66 of 138 statewide, top 49%, 494 students, 44% FRL); Manti High (math 32% / reading 42%, grade F, #78 of 171 statewide, top 49%, 693 students, 36% FRL).
• Market conditions: 49 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 266 units permitted in Sanpete County in 2024 (44 in 5+ unit buildings).
• Sanpete County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$71k 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?
• 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.