150 W 7500 S #13

Midvale, UT 84047

$155,000C-

3 bd · 2.0 ba · 1,500 sqft · Built 2019 · Manufactured · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,237/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$258
• HOA: −$615
• Vac / Maint / Mgmt: −$470
• Net cashflow: $81/mo
• Annual: $972/yr
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• 1% rule: 1.44%
• Cash to close: $43,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $155k.
• At list price, monthly cash flow is $81 ($972/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• It's been on market 31 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• 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 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.
• Watch-outs: HOA is 27% of rent.
• Market conditions: Rents soft (-0.3%/yr); 208 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).
• Salt Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 13y 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.
• This rent runs 35% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.