115 N 400 W

Blanding, UT 84511

$164,950D

1 bd · 1.0 ba · 891 sqft · Built 1940 · Other · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,353/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$153
• HOA: −$0
• Vac / Maint / Mgmt: −$284
• Net cashflow: $51/mo
• Annual: $613/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• 1% rule: 0.82%
• Cash to close: $46,186

Investor read

• This is a 1-bed/1.0-bath other listed at $165k.
• At list price, monthly cash flow is $51 ($613/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (18.0% below list).
• It's been on market 29 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $135k (18.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#114 in UT) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• San Juan District (rural): math 42% / reading 41% proficiency, ranked #47 of 80 in UT (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Blanding School (math 40% / reading 37%, grade F, #346 of 585 statewide, top 59%, 565 students, 100% FRL); Albert R. Lyman Middle (math 36% / reading 39%, grade F, #85 of 138 statewide, top 62%, 319 students, 99% FRL); San Juan High (math 27% / reading 42%, grade F, #95 of 171 statewide, top 61%, 428 students, 100% FRL) — zoned schools average 99% FRL vs 66% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 26 active listings in the ZIP; 51 units permitted in San Juan County in 2024 (0 in 5+ unit buildings).
• San Juan County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.