111 N 4th E

Manila, UT 84046

$179,900D-

3 bd · 1.0 ba · 1,128 sqft · Built 1969 · Manufactured · Active · 259 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,176/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$160
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $-174/mo
• Annual: $-2,087/yr
• Cap rate: 5.13%
• Cash-on-cash: -4.14%
• DSCR: 0.82
• 1% rule: 0.65%
• Cash to close: $50,372

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $180k.
• At list price, monthly cash flow is $-174 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (17.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (34.6% below list).
• It's been on market 259 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (34.6% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.5% local appreciation)).
• Location reads 61/100 on livability (#221 in UT) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A; Watch: amenities F, commute F, housing F.
• Daggett District (rural): math 45% / reading 55% proficiency, ranked #44 of 110 in UT (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Manila School (math 34% / reading 54%, grade F, #240 of 585 statewide, top 43%, 79 students, 14% FRL); Manila High (math 34% / reading 54%, grade F, #45 of 171 statewide, top 28%, 112 students, 19% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: 26 active listings in the ZIP; 18 units permitted in Daggett County in 2024 (0 in 5+ unit buildings).
• Daggett County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 259 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-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.