8155 S Redwood #96

West Jordan, UT 84088

$58,000B

2 bd · 1.0 ba · 696 sqft · Built 1972 · Manufactured · Active · 114 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,550/mo
• Mortgage (P&I): −$304
• Tax + insurance: −$523
• HOA: −$0
• Vac / Maint / Mgmt: −$326
• Net cashflow: $397/mo
• Annual: $4,769/yr
• Cap rate: 23.34%
• Cash-on-cash: 60.88%
• DSCR: 3.71
• 1% rule: 2.67%
• Cash to close: $16,240

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $58k. Condition is rated good.
• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• It's been on market 114 days — a 9% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $401 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#34 in UT, #1,632 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D+.
• Jordan District (suburban): math 38% / reading 43% proficiency, ranked #36 of 80 in UT (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jordan Hills School (math 47% / reading 47%, grade D-, #202 of 585 statewide, top 36%, 665 students, 19% FRL); West Hills Middle (math 25% / reading 28%, grade F, #116 of 138 statewide, top 85%, 1,247 students, 23% FRL); West Jordan High (math 13% / reading 35%, grade F, #149 of 171 statewide, top 87%, 1,826 students, 31% FRL) — zoned schools at 24% FRL track the district average.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents soft (-1.5%/yr); 116 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $16k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• This rent is only 18% of the median local income ($105k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.