3800 S 1900 W #242

Roy, UT 84067

$115,000D

3 bd · 2.0 ba · 1,694 sqft · Built 1987 · Manufactured · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,038/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$880
• Vac / Maint / Mgmt: −$428
• Net cashflow: $-64/mo
• Annual: $-774/yr
• Cap rate: 5.62%
• Cash-on-cash: -2.40%
• DSCR: 0.89
• 1% rule: 1.77%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $115k.
• At list price, monthly cash flow is $-64 ($-774/yr) — negative.
• To cash-flow at today's rent, offer at most $106k (8.1% below list).
• Meets the 1% rule at list price ($2k rent vs $115k).
• It's been on market 36 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (8.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#32 in UT, #1,449 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, commute A; Watch: amenities F.
• Weber District (suburban): math 36% / reading 35% proficiency, ranked #56 of 80 in UT (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Midland School (math 37% / reading 28%, grade F, #416 of 585 statewide, top 71%, 568 students, 29% FRL); Roy Jr High (math 23% / reading 25%, grade F, #123 of 138 statewide, top 90%, 1,008 students, 37% FRL); Roy High (math 15% / reading 39%, grade F, #131 of 171 statewide, top 79%, 1,834 students, 28% FRL).
• Watch-outs: HOA is 43% of rent.
• Market conditions: Rents soft (-0.5%/yr); 207 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,630 units permitted in Weber County in 2024 (521 in 5+ unit buildings).
• Weber County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• 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?
• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 8% 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.