276 E Hidden View Dr #98

Sandy, UT 84070

$115,000D-

3 bd · 2.0 ba · 1,600 sqft · Built 1993 · Manufactured · Active · 96 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,306/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$1,180
• Vac / Maint / Mgmt: −$484
• Net cashflow: $-153/mo
• Annual: $-1,838/yr
• Cap rate: 4.69%
• Cash-on-cash: -5.71%
• DSCR: 0.75
• 1% rule: 2.01%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $115k.
• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $93k (19.3% below list).
• Meets the 1% rule at list price ($2k rent vs $115k).
• It's been on market 96 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $93k (19.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#23 in UT, #920 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• 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: Crescent School (math 42% / reading 42%, grade F, #287 of 585 statewide, top 52%, 423 students, 30% FRL); Alta High (math 27% / reading 59%, grade F, #53 of 171 statewide, top 31%, 2,294 students, 15% FRL) — zoned schools at 23% FRL track the district average.
• Watch-outs: HOA is 51% of rent.
• Market conditions: Rents soft (-2.7%/yr); 134 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 5y 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 ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 96 days. Have you received any prior offers? Is the seller open to a 19% 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?
• 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 A-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?
• 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.