2331 S Mesa Rd Unit E-3

Moab, UT 84532

$100,000C

3 bd · 2.5 ba · 1,610 sqft · Built 2019 · Condo · Active · 295 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,037/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$167
• HOA: −$800
• Vac / Maint / Mgmt: −$428
• Net cashflow: $119/mo
• Annual: $1,422/yr
• Cap rate: 7.72%
• Cash-on-cash: 5.08%
• DSCR: 1.23
• 1% rule: 2.04%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.5-bath condo listed at $100k.
• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 295 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#89 in UT) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+, cost of living B; Watch: employment D, crime F, commute F.
• Grand District (town): math 27% / reading 31% proficiency, ranked #71 of 80 in UT (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Helen M. Knight School (math 30% / reading 28%, grade F, #444 of 585 statewide, top 77%, 732 students, 49% FRL); Grand County High (math 22% / reading 47%, grade F, #95 of 171 statewide, top 61%, 461 students, 36% FRL) — zoned schools at 42% FRL track the district average.
• Watch-outs: HOA is 39% of rent.
• Market conditions: 237 active listings in the ZIP; 238 units permitted in Grand County in 2024 (100 in 5+ unit buildings).
• Grand County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 6y 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.

Questions for listing agent

• It's been on market 295 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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.
• 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?
• 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.