465 N 800 W Unit 7

Cedar City, UT 84721

$59,900B

2 bd · 2.0 ba · 924 sqft · Built 1983 · Manufactured · Active · 140 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,461/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$100
• HOA: −$445
• Vac / Maint / Mgmt: −$307
• Net cashflow: $295/mo
• Annual: $3,539/yr
• Cap rate: 12.20%
• Cash-on-cash: 21.10%
• DSCR: 1.94
• 1% rule: 2.44%
• Cash to close: $16,772

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $60k.
• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 140 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#170 in UT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D, amenities F, commute F.
• Iron District (town): math 40% / reading 44% proficiency, ranked #42 of 80 in UT (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cedar North School (math 46% / reading 41%, grade F, #260 of 585 statewide, top 46%, 636 students, 48% FRL); Canyon View Middle (math 32% / reading 46%, grade F, #79 of 138 statewide, top 58%, 989 students, 43% FRL); Canyon View High (math 27% / reading 42%, grade F, #95 of 171 statewide, top 61%, 1,123 students, 34% FRL) — zoned schools at 42% FRL track the district average.
• Watch-outs: HOA is 30% of rent.
• Market conditions: Rents rising fast (+5.0%/yr); 831 active listings in the ZIP; 655 units permitted in Iron County in 2024 (0 in 5+ unit buildings).
• Iron County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% 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.
• 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.