448 E Telegraph St #121

Washington, UT 84780

$190,000D-

1 bd · 2.0 ba · 681 sqft · Built 2000 · Manufactured · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,515/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$163
• HOA: −$70
• Vac / Maint / Mgmt: −$318
• Net cashflow: $-33/mo
• Annual: $-393/yr
• Cap rate: 6.09%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• 1% rule: 0.80%
• Cash to close: $53,200

Investor read

• This is a 1-bed/2.0-bath manufactured listed at $190k.
• At list price, monthly cash flow is $-33 ($-393/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (20.3% below list).
• It's been on market 78 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $151k (20.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#59 in UT, #3,809 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D, amenities F, health & safety F.
• Washington District (urban): math 42% / reading 45% proficiency, ranked #37 of 80 in UT (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Horizon School (math 71% / reading 52%, grade B, #46 of 585 statewide, top 8%, 540 students, 23% FRL); Fossil Ridge Intermediate (math 25% / reading 40%, grade F, #100 of 138 statewide, top 72%, 734 students, 46% FRL); Pine View High (math 29% / reading 48%, grade F, #74 of 171 statewide, top 43%, 1,143 students, 33% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: Rents soft (-0.1%/yr); 1024 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,140 units permitted in Washington County in 2024 (650 in 5+ unit buildings).
• Washington County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major flood risk; major wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 78 days. Have you received any prior offers? Is the seller open to a 20% 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.
• 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.
• 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.