772 W Lennox St · Midvale, UT 84047

$925,000

28 bd · 16.0 ba · 3,696 sqft · MultiFamily public records · 10 Days on market

Built 1956 0.29 ac lot

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Why this score? — see what drove the C- 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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Schools +4.6/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

There are no remarks available.

Key facts

• Brand new roof
• All brick fourplex
• Remodeled kitchen

Tags

• ALL BRICK FOURPLEX
• BRAND NEW ROOF
• UPDATED INTERIOR PLUMBING
• REMODELED KITCHEN
• FOUR GARAGE SPACES
• DURABLE BRICK EXTERIOR

Property features AI

Finance

• Other: Zoned Multi-Family (RM-25)
• Financial info: Unit rents (current actual rents): $1,605; $1,244; $1,075; $1,244
• HOA & community: HOA/community details not provided

Exterior

• Parking: Covered parking available; Also has open/uncovered parking; Total of 4 parking spaces (4 garage spaces, 4 covered spaces listed)
• Security: Security details not provided
• Utilities: Natural gas connected; Electricity connected; Sewer connected; Culinary (municipal) water
• Home design: 2-story multi-family building
• Construction: Brick construction; Asphalt roof
• Exterior features: Automatic full sprinklers; South-facing

Interior

• Kitchen: Kitchens included in each unit (appliance details not provided)
• Bedrooms: Unit mix includes three 2-bedroom units and one 1-bedroom unit
• Flooring: Flooring details not provided
• Bathrooms: Each unit has one bathroom
• Heating & cooling: Gas radiant heating
• Interior features: Residential multi-family property; Total of 4 dwelling units; Property condition: Built/Standing
• Laundry & utility: Laundry/utility details not provided

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $925k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $308/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $872k (5.7% below list).
• Recommended offer: $872k (5.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#35 in UT, #1,704 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Canyons District (suburban): math 49% / reading 53% proficiency, ranked #12 of 80 in UT (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Midvale School (math 17% / reading 17%, grade F, #542 of 585 statewide, top 93%, 722 students, 99% FRL); Midvale Middle (math 24% / reading 28%, grade F, #119 of 138 statewide, top 87%, 907 students, 98% FRL); Hillcrest High (math 23% / reading 50%, grade F, #86 of 171 statewide, top 52%, 2,296 students, 37% FRL) — zoned schools average 78% FRL vs 27% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 51% district-wide (-24 pts) — the specific schools serving this property underperform the Canyons District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.3%/yr); 208 active listings in the ZIP; solid renter incomes; 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).
• At $8,723/mo this rent would consume 138% of the median local household income ($76k/yr) (locally 2050% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 20y ago 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: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $872,300 (5.7% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.72%
• DSCR: 1.25
• GRM: 8.8

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: -10.6%
• Equity multiple: 0.62×
• Total profit: $-97,207
• Equity at exit: $137,921

10-year hold

• IRR: -5.7%
• Equity multiple: 0.68×
• Total profit: $-83,573
• Equity at exit: $79,977

Cash invested: $259,000 (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 84047

• Rents YoY: -0.3%
• Active inventory: 208
• Price-to-rent: 35.3×

Monthly cashflow live

• Estimated rent: $8,723 medium
• Mortgage (P&I): −$4,851
• Tax from tax record: −$421 /mo · $5,057/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,832
• Net cashflow: $1,234

Break-even live

Break-even rent $7,162

Max offer price $925,000

Occupancy floor 81%

Sensitivity live

Price	-10% $1,757	-5% $1,495	+0% $1,234	+5% $972	+10% $710
Rent	-10% $544	-5% $889	+0% $1,234	+5% $1,578	+10% $1,923
Rate	-1.0pp $1,699	-0.5pp $1,469	base $1,234	+0.5pp $994	+1.0pp $750

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$8,724
Total (4 units)			$8,723

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $925,000 Active 10 DOM
2. 2026-06-18
   days on market $925,000 Active 7 DOM
3. 2026-06-17
   days on market $925,000 Active 6 DOM
4. 2026-06-16
   days on market $925,000 Active 5 DOM
5. 2026-06-15
   days on market $925,000 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $925,000 Active 2 DOM

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

Tax reassessment forecast UT · Resets to sale price

• Current annual tax: $5,057 · $421/mo
• Projected year-2 tax: $6,105 · $509/mo
• Expected delta: +$1,048/yr (+$87/mo · 20.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $104,676
• − Mortgage interest: −$51,814
• − Property taxes: −$5,057
• − Insurance: −$4,625
• − Repairs & maintenance: −$8,374
• − Management: −$8,374
• − Depreciation: −$26,909
• Taxable loss: −$477
• Est. tax savings @ 24.0%: +$115
• After-tax cash flow: $14,917/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: Canyons District
• NCES district ID: 4900142
• Math proficiency: 49% ▼ -5.00%
• Reading proficiency: 53% ▼ -3.00%
• Median HH income: $74,107
• Composite: 45.91/100
• National rank: #2548
• State rank: #12 of 80 in UT

Livability — Midvale

• Score: 80/100
• State rank: #35
• US rank: #1704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midvale, UT
• County: Salt Lake County · 1,195,750 people
• City population: 37,411
• Metro: Salt Lake City, UT
• Population (ZIP): 37,411
• Household income: $75,954
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 2050.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 17% Two or more races 13% Asian 4% Pacific Islander 3% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 4% Slovak 4% Portuguese 2%
• Foreign-born: 13% · Canada, China
• Languages at home: 80% English-only · Spanish 10% Russian/Polish/Slavic 2% 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: ▼ -175.42%
• Current HPI: 313.2184
• Rent YoY: ▼ -0.30%
• 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

+189.2% since first listed

18 events — show timeline

• 2026-06-11 Listed $925,000 WFRMLS
• 2024-04-10 Rental Removed $1,195 APPFOLIO
• 2024-03-15 Price Changed $1,195 APPFOLIO
• 2024-03-13 Listed for Rent $1,250 APPFOLIO
• 2024-01-13 Rental Removed $1,145 APPFOLIO
• 2024-01-04 Price Changed $1,145 APPFOLIO
• 2023-12-01 Listed for Rent $1,195 APPFOLIO
• 2022-09-19 Sold (MLS) — WFRMLS
• 2022-09-16 Sold (Public Records) — Public Records
• 2022-08-18 Pending — WFRMLS
• 2022-08-04 Listed $855,000 WFRMLS
• 2011-04-29 Listing Removed — WFRMLS
• 2010-10-30 Listed $345,873 WFRMLS
• 2006-10-20 Sold (Public Records) — Public Records
• 2006-10-13 Sold (MLS) — WFRMLS
• 2006-08-02 Listing Removed — WFRMLS
• 2006-08-01 Listed $319,900 WFRMLS
• 2006-07-14 Listed $319,900 WFRMLS

Property tax history

+6.3%/yr

Latest (2025): $5,057 · +9.5% YoY. Source: county tax records.