The Eleanor Plan

American Fork, UT 84003

$1D+

4 bd · 3.5 ba · 6,071 sqft · Built — · SingleFamily · Active · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,469/mo
• Mortgage (P&I): −$0
• Tax + insurance: −$0
• HOA: −$0
• Vac / Maint / Mgmt: −$519
• Net cashflow: $1,951/mo
• Annual: $23,410/yr
• Cap rate: 2340970.24%
• Cash-on-cash: 8360585.53%
• DSCR: 372000.01
• 1% rule: 246938.00%
• Cash to close: $0

Investor read

• This is a 4-bed/3.5-bath single-family listed at $1.
• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• It's been on market 81 days — a 6% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $0 of loan paydown is wiped out by about $0 of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#9 in UT, #356 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D+.
• Alpine District (suburban): math 45% / reading 50% proficiency, ranked #25 of 80 in UT (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Forbes School (math 39% / reading 45%, grade F, #287 of 585 statewide, top 52%, 424 students, 41% FRL); American Fork Jr High (math 43% / reading 47%, grade D, #43 of 138 statewide, top 33%, 1,894 students, 19% FRL); American Fork High (math 30% / reading 49%, grade F, #65 of 171 statewide, top 39%, 2,412 students, 13% FRL).
• Market conditions: Rents rising (+3.9%/yr); 415 active listings in the ZIP; high-income renter base; 6,326 units permitted in Utah County in 2024 (1,053 in 5+ unit buildings).
• Utah County population projected at +49% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 81 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.