2051 W Canyon View Dr Unit 5A

St. George, UT 84770

$45,000D

3 bd · 2.0 ba · 1,038 sqft · Built 1987 · Condo · Active · 194 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,417/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$177
• HOA: −$199
• Vac / Maint / Mgmt: −$507
• Net cashflow: $1,297/mo
• Annual: $15,568/yr
• Cap rate: 40.89%
• Cash-on-cash: 123.55%
• DSCR: 6.50
• 1% rule: 5.37%
• Cash to close: $12,600

Investor read

• This is a 3-bed/2.0-bath condo listed at $45k.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• It's been on market 194 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Arrowhead School (math 34% / reading 36%, grade F, #388 of 585 statewide, top 67%, 552 students, 30% FRL); Tonaquint Intermediate (math 31% / reading 38%, grade F, #96 of 138 statewide, top 69%, 735 students, 42% FRL); Dixie High (math 26% / reading 37%, grade F, #117 of 171 statewide, top 68%, 1,293 students, 31% FRL) — zoned schools at 35% FRL track the district average.
• Watch-outs: property tax is 4.2% of price.
• Market conditions: Rents rising (+2.4%/yr); 779 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 8 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 41% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.