683 Merlin St #4630 · North Salt Lake, UT 84054

$37,500

3 bd · 2.0 ba · 1,440 sqft · Manufactured · 118 Days on market

Built 1976 435 sqft lot $1200/mo HOA · 59% of rent

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.1/5.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

There are no remarks available.

Key facts

• New furnace
• Open floor plan
• New water heater

Tags

• NEW WATER HEATER
• NEW FURNACE
• OPEN FLOOR PLAN
• LVP FLOORING
• GAS STOVE
• INCLUDED WASHER AND DRYER

Property features AI

Finance

• HOA & community: Homeowners association (HOA membership); Association fee approximately $1,200; Community clubhouse; Subdivision: CAMELOT PARK

Exterior

• Parking: Carport (covered) for 2 vehicles; 2 total parking spaces
• Utilities: Natural gas connected; Electricity connected; Public sewer; Water connected (culinary and pressurized irrigation)
• Home design: Mobile home; Built/standing condition; Zoned MOB
• Construction: Aluminum and clapboard/masonite exterior; Rolled-silver and rubber roof
• Exterior features: Covered deck; Open porch; Double-pane windows; Storage shed(s); Full landscaping; Mature trees; Corner lot; Curb and gutter; Paved road

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Disposal
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (gas central); Evaporative cooling
• Interior features: Primary bathroom; Disposal; Gas range (free standing); Blinds
• Laundry & utility: Washer; Dryer; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $38k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $38k).
• Recommended offer: $34k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#57 in UT, #3,560 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: cost of living D, amenities F, health & safety F.
• Davis District (suburban): math 43% / reading 47% proficiency, ranked #28 of 80 in UT (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Adelaide School (math 35% / reading 30%, grade F, #416 of 585 statewide, top 71%, 419 students, 50% FRL); South Davis Jr High (math 31% / reading 37%, grade F, #97 of 138 statewide, top 70%, 1,095 students, 25% FRL); Woods Cross High (math 36% / reading 47%, grade F, #57 of 171 statewide, top 34%, 1,567 students, 16% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 145 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,461 units permitted in Davis County in 2024 (508 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $259 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Davis County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $10k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago; this cycle's ask has dropped $32k (46%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 59% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,125 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 5.46% ✓
• Cap rate: 11.33%
• Cash-on-cash: 17.99%
• DSCR: 1.80
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.46% rent growth · sell at horizon

5-year hold

• IRR: 24.0%
• Equity multiple: 2.15×
• Total profit: $12,091
• Equity at exit: $5,591

10-year hold

• IRR: 38.1%
• Equity multiple: 6.62×
• Total profit: $59,042
• Equity at exit: $3,242

Cash invested: $10,500 (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 84054

• Rents YoY: 6.5%
• Active inventory: 145
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $2,046 high
• Mortgage (P&I): −$197
• Tax est. 1.5%: −$47 /mo · $562/yr
• Insurance: −$16
• HOA: −$1,200
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $157

Break-even live

Break-even rent $1,847

Max offer price $37,500

Occupancy floor 87%

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: $9,375
• Closing costs: $1,125
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3371 S Orchard Dr Bountiful, UT	2.0	2.5	1267	$2,200	$1.74	14d	1	0.46mi
2767 S 625 W Bountiful, UT	3.0	2.5	1400	$1,900	$1.36	23d	1	0.51mi
260 E Kirsten Ln North Salt Lake, UT	3.0	2.5	1559	$2,095	$1.34	14d	1	0.53mi
2720 S Orchard Dr North Salt Lake, UT	1.0–2.0	1.0	860	$1,287	$1.50	14d	2	0.73mi
2323 S 800 W Woods Cross, UT	2.0–3.0	2.5	1476	$2,299	$1.56	10d	1	0.73mi
153 Bamberger Rd North Salt Lake, UT	3.0	2.5	1171	$1,699	$1.45	23d	1	0.83mi
2720 S Orchard Dr Bountiful, UT	2.0	1.0	970	$1,287	$1.33	23d	1	0.89mi
2583 S 200 W Bountiful, UT	3.0	1.0	1300	$1,850	$1.42	23d	1	1.03mi
2030 S Main St Bountiful, UT	1.0–2.0	1.0–2.0	825	$1,700	$2.06	13d	13	1.09mi
2035 S Main St Bountiful, UT	3.0	3.0	1650	$2,650	$1.61	23d	1	1.13mi
110 S Main St North Salt Lake, UT	1.0–3.0	1.0–2.0	1071	$2,390	$2.23	1d	14	1.18mi
47 W 100 S North Salt Lake, UT	2.0	1.5	1120	$1,349	$1.20	23d	1	1.19mi
2001 S Main St Bountiful, UT	2.0	2.0	1077	$1,450	$1.35	14d	1	1.26mi
325 S Orchard Dr North Salt Lake, UT	1.0–3.0	1.0–2.0	968	$2,300	$2.37	1d	31	1.36mi
1752 S 440 W Woods Cross, UT	2.0	1.0	1000	$1,250	$1.25	23d	1	1.37mi
1771 Renaissance Towne Dr Bountiful, UT	1.0–2.0	1.0–2.0	1052	$2,251	$2.14	14d	6	1.38mi
11 E 2200 S Bountiful, UT	3.0	2.5	1763	$2,550	$1.45	23d	1	1.40mi
842 W 1500 S Apt 4 Woods Cross, UT	2.0	1.0	950	$1,395	$1.47	14d	1	1.41mi
790 N Cutler Dr North Salt Lake, UT	1.0–3.0	1.0–2.0	1048	$2,243	$2.14	2d	6	1.46mi
453 W 1500 S Bountiful, UT	2.0	1.0	930	$1,650	$1.77	13d	16	1.47mi
950 N Cutler Dr North Salt Lake, UT	1.0–3.0	1.0–2.0	1040	$2,059	$1.98	19d	20	1.49mi

HOA detail

• Monthly dues: $1,200 · $14,400/yr

Listing history 13 events

1. 2026-06-18
   days on market $37,500 Active 118 DOM
2. 2026-06-17
   days on market $37,500 Active 117 DOM
3. 2026-06-16
   days on market $37,500 Active 116 DOM
4. 2026-06-01
   days on market $37,500 Active 115 DOM
5. 2026-05-31
   days on market $37,500 Active 114 DOM
6. 2026-05-31
   days on market $37,500 Active 113 DOM
7. 2026-04-24
   price $37,500
8. 2026-03-25
   price $49,999
9. 2026-03-05
   price $54,999
10. 2026-02-14
    price $59,990
11. 2026-02-07
    listed $69,999 Active
12. 2008-08-13
    soldstatus 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

13. 2008-07-03
    listed $22,900 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥90°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,556
• − Mortgage interest: −$2,101
• − Property taxes: −$562
• − Insurance: −$188
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − HOA: −$14,400
• − Depreciation: −$1,091
• Taxable income: $2,286
• Est. tax owed @ 24.0%: −$549
• After-tax cash flow: $1,341/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: Davis District
• NCES district ID: 4900210
• Math proficiency: 43% ▼ -9.00%
• Reading proficiency: 47% ▼ -5.00%
• Median HH income: $70,511
• Composite: 40.59/100
• National rank: #3698
• State rank: #28 of 80 in UT

Livability — North Salt Lake

• Score: 76/100
• State rank: #57
• US rank: #3560

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Salt Lake, UT
• County: Davis County · 341,755 people
• City population: 22,355
• Metro: Ogden-Clearfield, UT
• Population (ZIP): 22,355
• Household income: $101,860
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 426.0

Population outlook (Davis County) Hauer SSP2

• Today (2025): 399,271 people
• By 2030: 430,528 · +7.8%
• By 2040: 493,485 · +23.6%
• By 2050: 555,187 · +39.1%
• By 2075: 688,589 · +72.5%
• By 2100: 769,646 · +92.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 18% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Iranian 3% Slovak 3% Italian 2%
• Foreign-born: 13% · Canada
• Languages at home: 80% English-only · Spanish 11% Other Indo-European 4% Other Asian/Pacific 3%

Political lean MEDSL · Davis

• 2024 margin: Strong R (+24.9) · D 36.0% · R 60.8% · Other 3.2%
• 2008→2024 swing: +17.4pp toward D · 2008: -42.3pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+27.5 2016: R+23.3 2012: R+61.8 2008: R+42.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -341.91%
• Current HPI: 275.9596
• Rent YoY: ▲ 6.46%
• 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

+63.8% since first listed

7 events — show timeline

• 2026-04-24 Price Changed $37,500 WFRMLS
• 2026-03-25 Price Changed $49,999 WFRMLS
• 2026-03-05 Price Changed $54,999 WFRMLS
• 2026-02-14 Price Changed $59,990 WFRMLS
• 2026-02-07 Listed $69,999 WFRMLS
• 2008-08-13 Sold (MLS) — WFRMLS
• 2008-07-03 Listed $22,900 WFRMLS