2491 N Highway 89 #114

Pleasant View, UT 84404

$65,985B-

4 bd · 2.0 ba · 1,440 sqft · Built 1972 · Manufactured · Under Contract · 131 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,056/mo
• Mortgage (P&I): −$346
• Tax + insurance: −$110
• HOA: −$952
• Vac / Maint / Mgmt: −$432
• Net cashflow: $216/mo
• Annual: $2,592/yr
• Cap rate: 10.22%
• Cash-on-cash: 14.03%
• DSCR: 1.62
• 1% rule: 3.12%
• Cash to close: $18,476

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $66k.
• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $66k).
• It's been on market 131 days — a 12% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#51 in UT, #2,901 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: cost of living D, amenities F, health & safety F.
• Weber District (suburban): math 36% / reading 35% proficiency, ranked #56 of 80 in UT (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pioneer School (math 47% / reading 39%, grade F, #273 of 585 statewide, top 47%, 414 students, 23% FRL); Orion Jr High (math 36% / reading 37%, grade F, #88 of 138 statewide, top 66%, 1,063 students, 19% FRL); Weber High (math 33% / reading 49%, grade F, #60 of 171 statewide, top 35%, 2,037 students, 15% FRL).
• Watch-outs: HOA is 46% of rent.
• Market conditions: Rents rising (+2.3%/yr); 611 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,630 units permitted in Weber County in 2024 (521 in 5+ unit buildings).
• Weber County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $18k cash investment doubles in ~10 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.