1165 Edgewood Dr · Ogden, UT 84403

$2,250,000

240 bd · 240.0 ba · 5,320 sqft · MultiFamily · 139 Days on market

Built 1968 0.56 ac lot

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

• ARV discount +7.5/15.0
• Cash flow +6.1/30.0
• Livability +4.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• 1% rule +1.4/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 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

There are no remarks available.

Key facts

• 0.56 acre lot
• 12 parking spots
• Built 1968

Tags

• 12 UNIT MULTIFAMILY COMPLEX
• UPDATED AND REMODELED UNITS
• WELL BALANCED UNIT MIX
• PROVEN RENTAL HISTORY
• RECENT UPDATES IN SELECT UNITS

Property features AI

Finance

• Financial info: 12 total units; Eight 2-bed/2-bath units with reported rent $1,100 each; Four 1-bed/1-bath units with reported rent $900 each; Zoned for multi-family

Exterior

• Parking: Twelve total parking spaces; Twelve carport spaces; Covered parking; Uncovered parking available
• Utilities: Natural gas connected; Electricity connected; Sewer connected; Culinary and secondary water
• Home design: Multi-family property; Side-by-side architectural style; Ground level / single-level living; Agent owned; Residential use
• Construction: Aluminum and brick construction; Asphalt roof; Built/standing condition
• Exterior features: Corner lot; Curb and gutter; Paved road; Sidewalks; Automatic full sprinkler system; Gradual slope terrain; Mountain view

Interior

• Kitchen: Disposal; Free-standing range/oven; Built-in dishwasher
• Bedrooms: Eight 2-bedroom units; Four 1-bedroom units
• Flooring: Carpet; Linoleum; Tile; Vinyl
• Bathrooms: Eight 2-bath units; Four 1-bath units
• Heating & cooling: Forced air heating; Gas central heating
• Interior features: Disposal; Free-standing range/oven; Built-in dishwasher; Blinds
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 12 × 2-bed/1.0-bath units multifamily listed at $2.25M.

Deal economics

• At list price, monthly cash flow is $-4k ($-50k/yr) — negative. Per door: $-348/mo.
• To cash-flow at today's rent, offer at most $1.64M (26.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.44M (36.0% below list).
• Recommended offer: $1.44M (36.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 84/100 on livability (#19 in UT, #810 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Ogden City District (urban): math 25% / reading 31% proficiency, ranked #72 of 80 in UT (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Shadow Valley School (math 50% / reading 56%, grade C, #127 of 585 statewide, top 22%, 587 students, 13% FRL); Mount Ogden Junior High (math 33% / reading 38%, grade F, #94 of 138 statewide, top 68%, 858 students, 31% FRL); Ogden High (math 15% / reading 37%, grade F, #137 of 171 statewide, top 81%, 1,128 students, 35% FRL) — zoned schools average 26% FRL vs 75% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.9%/yr); 238 active listings in the ZIP; solid renter incomes; 1,630 units permitted in Weber County in 2024 (521 in 5+ unit buildings).
• At $14,390/mo this rent would consume 196% of the median local household income ($88k/yr) (locally 1076% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $16k of loan paydown is wiped out by about $68k of value loss. Plan a longer hold.
• Weber County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($1.98M) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask has dropped $250k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,439,000 (36.0% 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. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.64% ✗
• Cap rate: 4.06%
• Cash-on-cash: -7.96%
• DSCR: 0.65
• GRM: 13.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.92% rent growth · sell at horizon

5-year hold

• IRR: -31.5%
• Equity multiple: -0.03×
• Total profit: $-646,150
• Equity at exit: $335,482

10-year hold

• IRR: -41.3%
• Equity multiple: -0.53×
• Total profit: $-966,796
• Equity at exit: $194,539

Cash invested: $630,000 (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 84403

• Rents YoY: 1.9%
• Active inventory: 238
• Price-to-rent: 156.4×

Monthly cashflow live

• Estimated rent: $14,390 medium
• Mortgage (P&I): −$11,799
• Tax est. 1.5%: −$2,812 /mo · $33,750/yr
• Insurance: −$938
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,022
• Net cashflow: $-4,181

Break-even live

Break-even rent $19,683

Max offer price $1,644,982

Occupancy floor —

Sensitivity live

Price	-10% $-2,626	-5% $-3,404	+0% $-4,181	+5% $-4,959	+10% $-5,736
Rent	-10% $-5,318	-5% $-4,750	+0% $-4,181	+5% $-3,613	+10% $-3,044
Rate	-1.0pp $-3,048	-0.5pp $-3,609	base $-4,181	+0.5pp $-4,764	+1.0pp $-5,357

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

Units	Beds	Baths	Est. rent
▸ 12× units	2	1	$14,388
Total (12 units)			$14,390

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: $562,500
• Closing costs: $67,500
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-18
   days on market $2,250,000 Active 139 DOM
2. 2026-06-17
   days on market $2,250,000 Active 138 DOM
3. 2026-06-16
   days on market $2,250,000 Active 137 DOM
4. 2026-06-15
   days on market $2,250,000 Active 136 DOM
5. 2026-06-14
   days on market $2,250,000 Active 134 DOM
6. 2026-06-13
   days on market $2,250,000 Active 133 DOM
7. 2026-06-10
   days on market $2,250,000 Active 131 DOM
8. 2026-06-09
   days on market $2,250,000 Active 130 DOM
9. 2026-06-08
   days on market $2,250,000 Active 129 DOM
10. 2026-06-07
    days on market $2,250,000 Active 128 DOM
11. 2026-06-05
    days on market $2,250,000 Active 125 DOM
12. 2026-06-03
    days on market $2,250,000 Active 124 DOM
13. 2026-06-02
    days on market $2,250,000 Active 123 DOM
14. 2026-06-01
    days on market $2,250,000 Active 122 DOM
15. 2026-05-31
    days on market $2,250,000 Active 121 DOM
16. 2026-05-31
    days on market $2,250,000 Active 120 DOM
17. 2026-03-30
    price $2,250,000
18. 2026-03-10
    price $2,399,900
19. 2026-03-05
    status Active
20. 2026-02-02
    historical Backup
21. 2026-01-30
    listed $2,500,000 Active
22. 2025-10-06
    historical
23. 2025-07-29
    listed $2,399,900 Active
24. 2024-08-07
    historical $1,195
25. 2024-07-31
    listed $1,195
26. 2024-05-04
    historical $995
27. 2024-04-10
    listed $995
28. 2024-04-10
    historical $995
29. 2024-03-21
    price $995
30. 2024-03-13
    listed $1,050
31. 2023-08-14
    historical $1,195
32. 2023-07-29
    price $1,195
33. 2023-07-20
    listed $1,295
34. 2021-09-01
    status Under Contract 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

35. 2021-08-24
    historical Backup 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

36. 2021-08-19
    price $1,900,000 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

37. 2021-08-12
    listed $2,100,000 Active 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

38. 2007-08-06
    soldstatus
39. 2006-11-08
    listed $999,999

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $172,680
• − Mortgage interest: −$126,035
• − Property taxes: −$33,750
• − Insurance: −$11,250
• − Repairs & maintenance: −$13,814
• − Management: −$13,814
• − Depreciation: −$65,455
• Taxable loss: −$91,438
• Est. tax savings @ 24.0%: +$21,945
• After-tax cash flow: $-28,229/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: Ogden City District
• NCES district ID: 4900720
• Math proficiency: 25% ▼ -2.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $41,974
• Composite: 23.76/100
• National rank: #7818
• State rank: #72 of 80 in UT

Livability — Ogden

• Score: 84/100
• State rank: #19
• US rank: #810

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ogden, UT
• County: Weber County · 260,557 people
• City population: 152,611
• Metro: Ogden-Clearfield, UT
• Population (ZIP): 37,721
• Household income: $88,236
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1076.0

Population outlook (Weber County) Hauer SSP2

• Today (2025): 274,329 people
• By 2030: 288,577 · +5.2%
• By 2040: 314,848 · +14.8%
• By 2050: 338,710 · +23.5%
• By 2075: 384,412 · +40.1%
• By 2100: 409,305 · +49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 21% Two or more races 10% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 5% Slovak 4% Iranian 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 83% English-only · Spanish 13% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Weber

• 2024 margin: Strong R (+23.5) · D 36.8% · R 60.3% · Other 2.9%
• 2008→2024 swing: +4.1pp toward D · 2008: -27.6pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+22.7 2016: R+20.0 2012: R+46.0 2008: R+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -295.85%
• Current HPI: 308.019
• Rent YoY: ▲ 1.92%
• Metro: Ogden-Clearfield, 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

+125.0% since first listed

23 events — show timeline

• 2026-03-30 Price Changed $2,250,000 WFRMLS
• 2026-03-10 Price Changed $2,399,900 WFRMLS
• 2026-03-05 Relisted — WFRMLS
• 2026-02-02 Contingent — WFRMLS
• 2026-01-30 Listed $2,500,000 WFRMLS
• 2025-10-06 Listing Removed — WFRMLS
• 2025-07-29 Listed $2,399,900 WFRMLS
• 2024-08-07 Rental Removed $1,195 RENT.
• 2024-07-31 Listed for Rent $1,195 RENT.
• 2024-05-04 Rental Removed $995 APPFOLIO
• 2024-04-10 Listed for Rent $995 APPFOLIO
• 2024-04-10 Rental Removed $995 APPFOLIO
• 2024-03-21 Price Changed $995 APPFOLIO
• 2024-03-13 Listed for Rent $1,050 APPFOLIO
• 2023-08-14 Rental Removed $1,195 APPFOLIO
• 2023-07-29 Price Changed $1,195 APPFOLIO
• 2023-07-20 Listed for Rent $1,295 APPFOLIO
• 2021-09-01 Pending — WFRMLS
• 2021-08-24 Contingent — WFRMLS
• 2021-08-19 Price Changed $1,900,000 WFRMLS
• 2021-08-12 Listed $2,100,000 WFRMLS
• 2007-08-06 Sold (MLS) — WFRMLS
• 2006-11-08 Listed $999,999 WFRMLS