370 Aria Blvd E · Wendover, UT 84083

$3,200,000

3456 bd · 2304.0 ba · 30,828 sqft · MultiFamily · 223 Days on market

Built 1985 2.27 ac lot

---

Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Appreciation +5.0/10.0
• Schools +3.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 48 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

There are no remarks available.

Key facts

• Recent upgrades
• Easy i-80 access
• Landscaping

Tags

• EASY I-80 ACCESS
• RECENT UPGRADES
• LANDSCAPING
• UNIT REMODELS

Property features AI

Finance

• Other: Property has a view; Vegetation: Xeriscaped; Lot size ~2.27 acres
• Financial info: 48 total units (multi-family zoning); 24 units: 2 bed / 1 bath — Actual rent reported $750; 24 units: 1 bed / 1 bath — Actual rent reported $650
• HOA & community: Subdivision: BONNEVILLE HEIGHTS S

Exterior

• Parking: Uncovered open parking
• Utilities: Natural gas connected; Electricity connected; Sewer connected; Culinary (potable) water connected
• Home design: Two-story multi-family building; Currently built/standing; Residential use; Agent owned
• Construction: Asphalt roof; Built/standing construction
• Exterior features: Partial fencing; Paved roads; Sidewalks; Sloped terrain; Mountain views; Exterior lighting

Interior

• Kitchen: Built-in range/oven; Built-in dishwasher
• Bedrooms: 24 units with 2 bedrooms; 24 units with 1 bedroom
• Flooring: Carpet
• Bathrooms: 24 units with 1 bath (2-bed units); 24 units with 1 bath (1-bed units)
• Heating & cooling: Electric heating
• Interior features: Built-in range/oven; Built-in dishwasher; Carpet flooring

What this means for you Summary

Snapshot

• This is a 24×1.0bd/1.0ba + 24×2.0bd/1.0ba units multifamily listed at $3.20M.

Deal economics

• At list price, monthly cash flow is $9k ($105k/yr) — positive. Per door: $182/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($39k rent vs $3.20M).
• Recommended offer: $2.82M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#279 in UT) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, employment D, amenities F.
• Tooele District (town): math 32% / reading 34% proficiency, ranked #62 of 80 in UT (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Anna Smith School (math 17% / reading 22%, grade F, #525 of 585 statewide, top 91%, 206 students, 53% FRL); Wendover High (math 17% / reading 22%, grade F, #158 of 171 statewide, top 94%, 189 students, 0% FRL).
• Zoned-school proficiency averages 20% at this address vs 33% district-wide (-14 pts) — the specific schools serving this property underperform the Tooele District average; the district grade overstates school quality for this exact location.
• Market conditions: 7 active listings in the ZIP; 867 units permitted in Tooele County in 2024 (87 in 5+ unit buildings).

Forward outlook

• In year one you build about $118k of equity ($22k loan paydown + $96k appreciation (3.0% local appreciation)).
• Tooele County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $896k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$192k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($2.82M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $700k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,816,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.87%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 2.05×
• Total profit: $942,703
• Equity at exit: $1,438,859

10-year hold

• IRR: 19.8%
• Equity multiple: 3.88×
• Total profit: $2,577,365
• Equity at exit: $2,217,453

Cash invested: $896,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 86 Strongly Landlord-Friendly
• State Utah: 86 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

3-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 84083

• Active inventory: 7
• Price-to-rent: 336.4×

Monthly cashflow live

• Estimated rent: $39,209 medium
• Mortgage (P&I): −$16,781
• Tax est. 1.5%: −$4,000 /mo · $48,000/yr
• Insurance: −$1,333
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,234
• Net cashflow: $8,738

Break-even live

Break-even rent $28,148

Max offer price $3,200,000

Occupancy floor 73%

Sensitivity live

Price	-10% $10,950	-5% $9,844	+0% $8,738	+5% $7,633	+10% $6,527
Rent	-10% $5,641	-5% $7,190	+0% $8,738	+5% $10,287	+10% $11,836
Rate	-1.0pp $10,350	-0.5pp $9,552	base $8,738	+0.5pp $7,909	+1.0pp $7,066

48-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 24× units	1.0	1	$19,032
▸ 24× units	2.0	1	$20,184
Total (48 units)			$39,209

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $800,000
• Closing costs: $96,000
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-22
   days on market $3,200,000 Active 223 DOM
2. 2026-06-18
   days on market $3,200,000 Active 220 DOM
3. 2026-06-17
   days on market $3,200,000 Active 219 DOM
4. 2026-06-16
   days on market $3,200,000 Active 218 DOM
5. 2026-06-15
   days on market $3,200,000 Active 217 DOM
6. 2026-06-13
   days on market $3,200,000 Active 215 DOM
7. 2026-06-09
   days on market $3,200,000 Active 211 DOM
8. 2026-06-08
   days on market $3,200,000 Active 210 DOM
9. 2026-06-07
   days on market $3,200,000 Active 209 DOM
10. 2026-06-03
    days on market $3,200,000 Active 205 DOM
11. 2026-06-02
    days on market $3,200,000 Active 204 DOM
12. 2026-06-01
    days on market $3,200,000 Active 203 DOM
13. 2026-05-31
    days on market $3,200,000 Active 202 DOM
14. 2026-05-03
    price $3,200,000
15. 2026-02-12
    price $3,400,000
16. 2025-11-10
    listed $3,900,000 Active
17. 2023-12-22
    soldstatus Closed 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

18. 2023-10-16
    historical Backup 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

19. 2023-09-20
    listed $2,999,999 Active 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

20. 2022-03-17
    soldstatus Closed 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

21. 2022-02-10
    status Under Contract 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

22. 2022-01-28
    listed $2,300,000 Active 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AO · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 6 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $470,508
• − Mortgage interest: −$179,250
• − Property taxes: −$48,000
• − Insurance: −$17,468
• − Repairs & maintenance: −$37,641
• − Management: −$37,641
• − Depreciation: −$93,091
• Taxable income: $57,419
• Est. tax owed @ 24.0%: −$13,780
• After-tax cash flow: $91,080/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Tooele District
• NCES district ID: 4901050
• Math proficiency: 32% ▼ -8.00%
• Reading proficiency: 34% ▼ -6.00%
• Median HH income: $63,054
• Composite: 29.94/100
• National rank: #6379
• State rank: #62 of 80 in UT

Livability — Wendover

• Score: 55/100
• State rank: #279
• US rank: #23275

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment D Housing F Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wendover, UT
• Population (ZIP): 1,264

Population outlook (Tooele County) Hauer SSP2

• Today (2025): 73,901 people
• By 2030: 79,080 · +7.0%
• By 2040: 89,127 · +20.6%
• By 2050: 98,460 · +33.2%
• By 2075: 115,767 · +56.7%
• By 2100: 122,453 · +65.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% White 33% Two or more races 21%
• Hispanic origin (detail): Mexican 64%
• Common ancestry: Lithuanian 2%
• Foreign-born: 33% · Canada
• Languages at home: 28% English-only · Spanish 71%

Political lean MEDSL · Tooele

• 2024 margin: Solid R (+41.0) · D 28.1% · R 69.1% · Other 2.8%
• 2008→2024 swing: -11.2pp toward R · 2008: -29.8pp · 2024: -41.0pp
• All cycles: 2024: R+41.0 2020: R+38.3 2016: R+30.0 2012: R+51.4 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.54%
• F500 in state: 2

Industry mix (Fortune 500 HQ in UT)

Industry	F500 HQs	Revenue
▸Financial Services	1	$3B

Price history

+39.1% since first listed

9 events — show timeline

• 2026-05-03 Price Changed $3,200,000 WFRMLS
• 2026-02-12 Price Changed $3,400,000 WFRMLS
• 2025-11-10 Listed $3,900,000 WFRMLS
• 2023-12-22 Sold (MLS) — WFRMLS
• 2023-10-16 Contingent — WFRMLS
• 2023-09-20 Listed $2,999,999 WFRMLS
• 2022-03-17 Sold (MLS) — WFRMLS
• 2022-02-10 Pending — WFRMLS
• 2022-01-28 Listed $2,300,000 WFRMLS