1123 W 465 N · Orem, UT 84057

$55,500

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 31 Days on market

Built 1999 435 sqft lot $830/mo HOA · 53% of rent

---

Why this score? — see what drove the C- 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).

• Cash flow +15.3/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Livability +4.3/5.0
• Schools +4.2/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the Francis K Community - a quiet, friendly, and well-maintained neighborhood known for its safe atmosphere and reasonable park management. This home offers a great opportunity to add your own personal touches and build equity with some cosmetic updates, including flooring and possible cabinet improvements. Conveniently located just minutes from shopping, dining, entertainment, and freeway access, making commuting simple while still tucked away from heavy traffic. Utah Lake is only a short drive away for outdoor recreation and beautiful views. Affordable living in a central location with tons of potential! Water heater replaced within the last couple years as well as Air conditio

Key facts

• 3 parking spots
• Built 1999
• Listed 31 days

Property features AI

Finance

• Other: Subdivision: FRANCIS
• HOA & community: Homeowners association (Brandon); Monthly association fee of $830; HOA covers water, sewer and trash; Pets permitted

Exterior

• Parking: Uncovered open parking; Three open parking spaces (total 3)
• Utilities: Natural gas connected; Electricity connected; Sewer connected; Culinary water connected
• Home design: Mobile home style; Residence currently built and standing; Single-family zoning
• Construction: Asphalt roof; Other construction materials; No basement
• Exterior features: Covered deck; Sprinkler system (auto-full); Paved road access; Full landscaping; Mature trees

Interior

• Kitchen: Gas range; Built-in range/oven; Range hood; Refrigerator
• Bedrooms: Two main-level bedrooms; Primary bedroom on the 1st floor
• Flooring: Carpet; Linoleum
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (gas central); Central air conditioning
• Interior features: Walk-in closet; Built-in range/oven; Range hood; Window blinds; Storage shed(s); Window coverings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $56k.

Deal economics

• At list price, monthly cash flow is $20 ($240/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $56k).
• Recommended offer: $54k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 86/100 on livability (#10 in UT, #389 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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: Aspen School (math 45% / reading 47%, grade D-, #218 of 585 statewide, top 38%, 421 students, 27% FRL); Orem Jr High (math 24% / reading 34%, grade F, #112 of 138 statewide, top 81%, 961 students, 41% FRL); Timpanogos High (math 38% / reading 55%, grade D-, #38 of 171 statewide, top 24%, 1,365 students, 24% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 143 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,326 units permitted in Utah County in 2024 (1,053 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $384 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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 + 4.9% rent growth), your $16k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $4k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 53% of rent.

Recommended offer $53,835 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 2.81% ✓
• Cap rate: 6.72%
• Cash-on-cash: 1.54%
• DSCR: 1.07
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.92% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.74×
• Total profit: $-4,113
• Equity at exit: $8,275

10-year hold

• IRR: 8.9%
• Equity multiple: 1.86×
• Total profit: $13,345
• Equity at exit: $4,799

Cash invested: $15,540 (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 84057

• Rents YoY: 4.9%
• Active inventory: 143
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,561 high
• Mortgage (P&I): −$291
• Tax est. 1.5%: −$69 /mo · $832/yr
• Insurance: −$23
• HOA: −$830
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $20

Break-even live

Break-even rent $1,536

Max offer price $55,500

Occupancy floor 94%

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: $13,875
• Closing costs: $1,665
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
289 N 1030 W Orem, UT	2.0	1.0	1092	$1,395	$1.28	3d	1	0.22mi
231 N 1200 W Orem, UT	3.0	2.0	1336	$1,725	$1.29	14d	1	0.25mi
782 N 1570 W Orem, UT	3.0	1.5	1300	$1,500	$1.15	23d	1	0.65mi
1080 W 965 N #304 Orem, UT	2.0	1.0	950	$1,350	$1.42	3d	1	0.71mi
952 W 965 N #215 Orem, UT	3.0	2.0	1313	$1,890	$1.44	3d	1	0.73mi
1018 N 985 W #510 Orem, UT	3.0	2.0	1442	$1,700	$1.18	3d	1	0.76mi
1018 N 985 W #508 Orem, UT	3.0	2.0	1314	$1,925	$1.46	3d	1	0.77mi
1027 W 1033 North St Unit S203 Orem, UT	2.0	1.0	780	$1,405	$1.80	3d	1	0.77mi
225 N 680 E Vineyard, UT	3.0	2.0	1311	$1,725	$1.32	23d	1	0.78mi
215 N 680 E Vineyard, UT	3.0	2.0	1311	$1,725	$1.32	23d	1	0.78mi
1030 N 995 W #913 Orem, UT	3.0	2.0	1442	$1,850	$1.28	3d	1	0.78mi
1043 N 920 W Unit F609 Orem, UT	2.0	1.0	951	$1,600	$1.68	3d	1	0.82mi
1043 N 920 W Unit F612 Orem, UT	2.0	1.0	951	$1,490	$1.57	23d	1	0.82mi
217 N 670 E Unit 102 Vineyard, UT	2.0	2.0	1039	$1,480	$1.42	23d	1	0.83mi
217 N 670 E Unit 104 Vineyard, UT	1.0	1.0	813	$1,285	$1.58	23d	1	0.83mi
265 N 670 E Unit 205 Vineyard, UT	2.0	2.0	1020	$1,620	$1.59	23d	1	0.84mi
265 N 670 E Unit 204 Vineyard, UT	1.0	1.0	794	$1,285	$1.62	23d	1	0.84mi
279 N 670 E Unit 108 Vineyard, UT	2.0	2.0	1020	$1,480	$1.45	23d	1	0.85mi
648 E 230 N Unit 307 Vineyard, UT	2.0	2.0	1020	$1,480	$1.45	23d	1	0.85mi
648 E 230 N Unit 209 Vineyard, UT	1.0	1.0	794	$1,285	$1.62	23d	1	0.85mi
662 E 230 N Unit 311 Vineyard, UT	2.0	2.0	1020	$1,480	$1.45	23d	1	0.86mi
651 E 180 N Unit 210 Vineyard, UT	1.0	1.0	794	$1,285	$1.62	23d	1	0.86mi
651 E 180 N Unit 312 Vineyard, UT	3.0	2.0	1299	$1,785	$1.37	23d	1	0.86mi
624 E 300 N Vineyard, UT	3.0	2.0	1323	$1,785	$1.35	23d	1	0.86mi
624 E 300 N Unit 206 Vineyard, UT	2.0	2.0	1039	$1,620	$1.56	21d	1	0.86mi
623 E 250 N Vineyard, UT	1.0	1.0	794	$1,285	$1.62	23d	1	0.87mi
623 E 250 N Unit 301 Vineyard, UT	3.0	2.0	1324	$1,920	$1.45	23d	1	0.87mi
632 E 230 N Unit 306 Vineyard, UT	2.0	2.0	1020	$1,480	$1.45	23d	1	0.87mi
631 E 180 N Unit 203 Vineyard, UT	1.0	1.0	794	$1,285	$1.62	23d	1	0.88mi
631 E 180 N Unit 301 Vineyard, UT	3.0	2.0	1299	$1,785	$1.37	23d	1	0.88mi
631 E 180 N Unit 105 Vineyard, UT	2.0	2.0	1039	$1,480	$1.42	23d	1	0.89mi
266 N 590 E Unit 107 Vineyard, UT	2.0	2.0	1020	$1,480	$1.45	23d	1	0.89mi
266 N 590 E Unit 110 Orem, UT	1.0	1.0	794	$1,285	$1.62	23d	1	0.89mi
614 E 230 N Unit 111 Vineyard, UT	2.0	2.0	1039	$1,480	$1.42	23d	1	0.89mi
615 E 180 N Unit 308 Vineyard, UT	2.0	2.0	1020	$1,480	$1.45	23d	1	0.90mi
615 E 180 N Unit 312 Vineyard, UT	3.0	2.0	1299	$1,785	$1.37	23d	1	0.90mi
594 E 255 N Unit 105 Orem, UT	2.0	2.0	1039	$1,480	$1.42	23d	1	0.91mi
125 N Mill Rd Vineyard, UT	1.0–3.0	1.0–2.0	933	$1,410	$1.51	14d	10	0.91mi
125 N Mill Rd Vineyard, UT	1.0–3.0	1.0–2.0	933	$1,410	$1.51	3d	10	0.91mi
283 N 590 E Unit 301 Vineyard, UT	3.0	2.0	1299	$1,920	$1.48	23d	1	0.91mi

HOA detail

• Monthly dues: $830 · $9,960/yr
• Likely covers: water

Listing history 11 events

1. 2026-06-09
   status $55,500 Under Contract 31 DOM
2. 2026-06-08
   days on market $55,500 Active 31 DOM
3. 2026-06-07
   days on market $55,500 Active 30 DOM
4. 2026-06-03
   days on market $55,500 Active 26 DOM
5. 2026-06-03
   days on market $55,500 Active 25 DOM
6. 2026-06-01
   days on market $55,500 Active 24 DOM
7. 2026-05-31
   days on market $55,500 Active 23 DOM
8. 2026-05-31
   days on market $55,500 Active 22 DOM
9. 2026-05-09
   listed $60,000 Active
10. 2006-08-18
    historical
11. 2006-04-06
    listed $41,500

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

Taxation est. · year 1

• Rental income: $18,737
• − Mortgage interest: −$3,109
• − Property taxes: −$832
• − Insurance: −$278
• − Repairs & maintenance: −$1,499
• − Management: −$1,499
• − HOA: −$9,960
• − Depreciation: −$1,615
• Taxable loss: −$54
• Est. tax savings @ 24.0%: +$13
• After-tax cash flow: $253/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: Alpine District
• NCES district ID: 4900030
• Math proficiency: 45% ▼ -4.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $68,595
• Composite: 42.48/100
• National rank: #3213
• State rank: #25 of 80 in UT

Livability — Orem

• Score: 86/100
• State rank: #10
• US rank: #389

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orem, UT
• County: Utah County · 661,754 people
• City population: 94,197
• Metro: Provo-Orem, UT
• Population (ZIP): 36,881
• Household income: $82,780
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 676.0

Population outlook (Utah County) Hauer SSP2

• Today (2025): 693,420 people
• By 2030: 757,324 · +9.2%
• By 2040: 893,178 · +28.8%
• By 2050: 1,035,842 · +49.4%
• By 2075: 1,376,733 · +98.5%
• By 2100: 1,609,388 · +132.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 25% Two or more races 13% Asian 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 17% Salvadoran 1%
• Common ancestry: Italian 5% Slovak 4% Portuguese 2%
• Foreign-born: 13% · Canada, Dominican Republic, China
• Languages at home: 75% English-only · Spanish 19% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Utah

• 2024 margin: Solid R (+39.8) · D 28.5% · R 68.3% · Other 3.2%
• 2008→2024 swing: +19.1pp toward D · 2008: -58.9pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+41.0 2016: R+37.3 2012: R+78.5 2008: R+58.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -365.90%
• Current HPI: 319.4849
• Rent YoY: ▲ 4.92%
• Metro: Provo-Orem, 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

+44.6% since first listed

3 events — show timeline

• 2026-05-09 Listed $60,000 WFRMLS
• 2006-08-18 Listing Removed — WFRMLS
• 2006-04-06 Listed $41,500 WFRMLS