Granite Plan

Grantsville, UT 84029

$1,976D

4 bd · 2.5 ba · 1,976 sqft · Built — · SingleFamily · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,101/mo
• Mortgage (P&I): −$10
• Tax + insurance: −$3
• HOA: −$468
• Vac / Maint / Mgmt: −$441
• Net cashflow: $1,178/mo
• Annual: $14,142/yr
• Cap rate: 721.97%
• Cash-on-cash: 2556.01%
• DSCR: 114.73
• 1% rule: 106.35%
• Cash to close: $553

Investor read

• This is a 4-bed/2.5-bath single-family listed at $2k.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• It's been on market 48 days — a 3% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $2k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $14 of loan paydown is wiped out by about $59 of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#217 in UT) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, crime B+; Watch: schools D+, amenities F, commute F.
• Tooele District (town): math 32% / reading 34% proficiency, ranked #62 of 80 in UT (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 22% of rent.
• Market conditions: 223 active listings in the ZIP; 867 units permitted in Tooele County in 2024 (87 in 5+ unit buildings).
• Tooele County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $553 cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.