1461 W Sunset Ave

West Valley City, UT 84119

$399,900D

4 bd · 2.0 ba · 1,092 sqft · Built 1945 · MultiFamily · Active · 149 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,112/mo
• Mortgage (P&I): −$2,097
• Tax + insurance: −$315
• HOA: −$0
• Vac / Maint / Mgmt: −$654
• Net cashflow: $47/mo
• Annual: $558/yr
• Cap rate: 6.43%
• Cash-on-cash: 0.50%
• DSCR: 1.02
• 1% rule: 0.78%
• Cash to close: $111,972

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $400k.
• At list price, monthly cash flow is $47 ($558/yr) — positive. Per door: $23/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $311k (22.2% below list).
• It's been on market 149 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $311k (22.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#55 in UT, #3,285 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: crime D-, amenities F, health & safety D-.
• Granite District (suburban): math 26% / reading 32% proficiency, ranked #69 of 80 in UT (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Redwood School (math 6% / reading 8%, grade F, #583 of 585 statewide, top 100%, 486 students, 77% FRL); Granite Park Jr High (math 6% / reading 14%, grade F, #138 of 138 statewide, top 100%, 871 students, 70% FRL); Granger High (math 7% / reading 22%, grade F, #167 of 171 statewide, top 98%, 3,481 students, 63% FRL) — zoned schools average 70% FRL vs 45% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 29% district-wide (-18 pts) — the specific schools serving this property underperform the Granite District average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 232 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• 8 sale attempts since 31y ago; this cycle's ask has dropped $50k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $400k implies a 526% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $3,112/mo this rent would consume 52% of the median local household income ($71k/yr) (locally 1635% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 149 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1945 — 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?