3199 S 540 E Unit 1-4 · South Salt Lake, UT 84106

$1,350,000

15 bd · 9.0 ba · 3,600 sqft · MultiFamily public records

Built 1964 0.35 ac lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.6/30.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Rent growth +2.4/5.0
• 1% rule +1.5/10.0

Multi-family units

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

Income Property in Peaceful Neighborhood

Key facts

• 0.35 acre lot
• 10 parking spots
• Built 1964

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/1.8-bath units multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative. Per door: $-231/mo.
• To cash-flow at today's rent, offer at most $1.15M (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $883k (34.6% below list).
• Recommended offer: $883k (34.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#88 in UT) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B; Watch: employment C-, schools F, crime F.
• 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.
• Market conditions: Rents soft (-0.5%/yr); 195 active listings in the ZIP; solid renter incomes; 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).
• At $8,829/mo this rent would consume 104% of the median local household income ($102k/yr) (locally 1046% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $144k of equity ($9k loan paydown + $135k appreciation (10.0% local appreciation)).
• Salt Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$232k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $882,900 (34.6% below list)

Questions for the listing agent

1. 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?
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. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.65% ✗
• Cap rate: 5.27%
• Cash-on-cash: -3.67%
• DSCR: 0.84
• GRM: 12.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 2.68×
• Total profit: $635,153
• Equity at exit: $1,216,187

10-year hold

• IRR: 18.4%
• Equity multiple: 5.98×
• Total profit: $1,880,781
• Equity at exit: $2,622,753

Cash invested: $378,000 (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 84106

• Home prices YoY: 2.5%
• Rents YoY: -0.5%
• Active inventory: 195
• Price-to-rent: 63.7×

Monthly cashflow live

• Estimated rent: $8,829 high
• Mortgage (P&I): −$7,080
• Tax from tax record: −$489 /mo · $5,864/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,854
• Net cashflow: $-1,156

Break-even live

Break-even rent $10,292

Max offer price $1,145,818

Occupancy floor —

Sensitivity live

Price	-10% $-392	-5% $-774	+0% $-1,156	+5% $-1,538	+10% $-1,920
Rent	-10% $-1,853	-5% $-1,505	+0% $-1,156	+5% $-807	+10% $-458
Rate	-1.0pp $-476	-0.5pp $-812	base $-1,156	+0.5pp $-1,506	+1.0pp $-1,862

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

Units	Beds	Baths	Est. rent
▸ 5× units	3	1.8	$8,830
Total (5 units)			$8,829

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: $337,500
• Closing costs: $40,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-13
   remarks 317-char remark
2. 2026-06-13
   listed $1,350,000 Under Contract

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

Tax reassessment forecast UT · Resets to sale price

• Current annual tax: $5,864 · $489/mo
• Projected year-2 tax: $8,910 · $742/mo
• Expected delta: +$3,046/yr (+$254/mo · 51.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $105,948
• − Mortgage interest: −$75,621
• − Property taxes: −$5,864
• − Insurance: −$6,750
• − Repairs & maintenance: −$8,476
• − Management: −$8,476
• − Depreciation: −$39,273
• Taxable loss: −$38,512
• Est. tax savings @ 24.0%: +$9,243
• After-tax cash flow: $-4,627/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: Granite District
• NCES district ID: 4900360
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 32% ▼ -3.00%
• Median HH income: $55,971
• Composite: 25.93/100
• National rank: #7336
• State rank: #69 of 80 in UT

Livability — South Salt Lake

• Score: 71/100
• State rank: #88
• US rank: #7159

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Salt Lake, UT
• County: Salt Lake County · 1,195,750 people
• City population: 28,882
• Metro: Salt Lake City, UT
• Population (ZIP): 35,213
• Household income: $101,551
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 1046.0

Population outlook (Salt Lake County) Hauer SSP2

• Today (2025): 1,305,860 people
• By 2030: 1,402,611 · +7.4%
• By 2040: 1,594,533 · +22.1%
• By 2050: 1,787,244 · +36.9%
• By 2075: 2,224,138 · +70.3%
• By 2100: 2,551,390 · +95.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 4% Italian 4% Portuguese 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Chinese 2% Other Indo-European 1%

Political lean MEDSL · Salt Lake

• 2024 margin: D (+10.2) · D 53.7% · R 43.5% · Other 2.8%
• 2008→2024 swing: +10.1pp toward D · 2008: 0.1pp · 2024: 10.2pp
• All cycles: 2024: D+10.2 2020: D+11.0 2016: D+10.2 2012: R+19.3 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.25%
• Current HPI: 1604.17
• Rent YoY: ▼ -0.45%
• Metro: Salt Lake City, UT
• 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

+0.0% since first listed

8 events — show timeline

• 2026-06-12 Delisted — PCMLS
• 2026-06-12 Listing Removed — WFRMLS
• 2026-06-12 Listed $1,350,000 WFRMLS
• 2026-06-12 Listed $1,350,000 PCMLS
• 2006-03-08 Sold (Public Records) — Public Records
• 2005-04-12 Sold (Public Records) — Public Records
• 1997-05-02 Sold (Public Records) — Public Records
• 1995-07-03 Sold (Public Records) — Public Records

Property tax history

+7.8%/yr

Latest (2025): $5,864 · +3.4% YoY. Source: county tax records.