296 E Vagabond Ave #101 · Murray, UT 84107

$122,800

3 bd · 2.0 ba · 1,530 sqft · Manufactured · 13 Days on market

Built 2003 Average condition 435 sqft lot $4/mo HOA

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Schools +3.5/10.0
• Condition / age +2.8/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience the charm of resort-style senior living in the highly sought-after Exclusive Cottonwood Coves Estates-Murray * Gated 55+ * Spacious 2003 Double-Wide Residence offers an Inviting Open-Concept living and dining area designed for comfort * versatility * and effortless entertaining * Featuring 3 generous bedrooms * 2 full baths * Could be 4th bdrm * Den with Elegant French doors * this home provides the perfect blend of Space and Functionality * Master suite has a large closet * extra Storage throughout * Soaring vaulted ceilings create an airy atmosphere while the luxurious primary suite boasts a relaxing garden tub for your personal retreat * Spacious Baths * Gas Fireplace * S

Key facts

• Master suite
• Gated 55
• Open-concept living

Tags

• GATED 55
• DOUBLE-WIDE RESIDENCE
• OPEN-CONCEPT LIVING
• DEN WITH FRENCH DOORS
• MASTER SUITE
• GARDEN TUB

Property features AI

Finance

• HOA & community: Homeowners association with $50 annual fee; Senior community; Community clubhouse; Subdivision: COTTONWOOD COVES

Exterior

• Parking: Open/uncovered parking; Carport (2 spaces); Two covered parking spaces; RV parking; Total of 2 parking spaces
• Utilities: Natural gas connected; Electricity connected; Sewer connected; Water connected (culinary)
• Home design: Mobile-style property; Single-level living; Faces east; Residential use; Has a view
• Construction: Asphalt construction materials; Asphalt roof; Built/standing condition; Single-level accessibility features (grip-accessible)
• Exterior features: Awning(s); Covered deck; Covered patio; Double pane windows; Storm doors; Corner lot; Paved road access; Automatic full sprinklers; Mountain view; Landscaping (full), mature trees, stream, xeriscaped

Interior

• Kitchen: Gas oven; Range/oven (free standing); Range hood; Microwave; Refrigerator; Portable dishwasher
• Bedrooms: Three bedrooms (primary on 1st floor)
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Separate tub and shower; Walk-in closet; Den/office; Disposal; Great room; Jetted tub; Vaulted ceilings; Blinds (partial); Fireplace insert
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $123k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $123k).

Location & tenants

• Location reads 82/100 on livability (#29 in UT, #1,169 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A; Watch: cost of living C-, crime D.
• Murray District (suburban): math 37% / reading 43% proficiency, ranked #46 of 80 in UT (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Parkside School (math 13% / reading 26%, grade F, #525 of 585 statewide, top 91%, 471 students, 69% FRL); Riverview Jr High (math 48% / reading 48%, grade C-, #37 of 138 statewide, top 26%, 618 students, 21% FRL); Murray High (math 29% / reading 45%, grade F, #78 of 171 statewide, top 49%, 1,400 students, 24% FRL).
• Market conditions: Rents falling (-3.0%/yr); 226 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).
• This rent runs 33% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $849 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Salt Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,800

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.60% ✓
• Cap rate: 13.11%
• Cash-on-cash: 24.34%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 11.1%
• Equity multiple: 1.42×
• Total profit: $14,608
• Equity at exit: $18,310

10-year hold

• IRR: 17.5%
• Equity multiple: 2.24×
• Total profit: $42,539
• Equity at exit: $10,617

Cash invested: $34,384 (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 84107

• Rents YoY: -3.0%
• Active inventory: 226
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,962 high
• Mortgage (P&I): −$644
• Tax est. 1.5%: −$154 /mo · $1,842/yr
• Insurance: −$51
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$4
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $631

Break-even live

Break-even rent $1,163

Max offer price $122,800

Occupancy floor 63%

Sensitivity live

Price	-10% $716	-5% $673	+0% $631	+5% $589	+10% $546
Rent	-10% $476	-5% $553	+0% $631	+5% $708	+10% $786
Rate	-1.0pp $693	-0.5pp $662	base $631	+0.5pp $599	+1.0pp $567

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: $30,700
• Closing costs: $3,684
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
333 E 4500 S #13 Salt Lake City, UT	2.0	1.0	1400	$1,400	$1.00	4d	1	0.17mi
448 E Damsel Dr Salt Lake City, UT	2.0	1.0–2.0	1180	$1,512	$1.28	17d	4	0.32mi
4109 S 300 E Salt Lake City, UT	2.0	2.0	1334	$2,600	$1.95	2d	1	0.35mi
4080 S 300 E Unit F Millcreek, UT	2.0	1.0	1200	$1,125	$0.94	24d	1	0.38mi
4072 S 300 E Millcreek, UT	2.0	2.5	1200	$1,895	$1.58	24d	1	0.42mi
4624 S Meadow Rd Unit Down Murray, UT	2.0	1.0	1200	$2,000	$1.67	13d	1	0.42mi
428 E Park Oak Pl Salt Lake City, UT	3.0	2.5	1500	$2,300	$1.53	5d	1	0.47mi
4410 S Main St Salt Lake City, UT	2.0	1.0–2.0	892	$2,810	$3.15	3d	76	0.47mi
4197 S Main St Millcreek, UT	3.0	1.0–2.0	891	$1,858	$2.08	4d	13	0.48mi
47 W Fireclay Ave Salt Lake City, UT	1.0–2.0	1.0–2.0	902	$2,088	$2.31	3d	36	0.49mi
38 W Beebe Ln Salt Lake City, UT	3.0	4.0	1960	$2,500	$1.28	3d	1	0.51mi
54 W Fireclay Ave Salt Lake City, UT	1.0–2.0	1.0–2.0	962	$1,775	$1.84	24d	1	0.56mi
279 E Ailee Ln Salt Lake City, UT	3.0	2.5	2022	$2,550	$1.26	3d	1	0.57mi
44 W Iko Ave Millcreek, UT	2.0	2.5	1296	$2,200	$1.70	5d	1	0.59mi
480 E Brandt Ct Salt Lake City, UT	2.0–3.0	1.5	1200	$2,009	$1.67	5d	4	0.62mi
136 W Fireclay Ave Murray, UT	1.0–3.0	1.0–2.0	991	$1,589	$1.60	4d	12	0.63mi
3993 S Main St Millcreek, UT	1.0–2.0	1.0–2.0	838	$1,650	$1.97	4d	25	0.65mi
593 E 4010 S Salt Lake City, UT	2.0	1.5	1602	$950	$0.59	19d	1	0.70mi
4727 S Hillhouse Cv #102 Salt Lake City, UT	3.0	2.5	2020	$2,450	$1.21	24d	1	0.76mi
4748 S Hillhouse Cv #104 Salt Lake City, UT	3.0	2.5	1954	$2,500	$1.28	24d	1	0.81mi
4380 S 900 E Millcreek, UT	3.0	2.5	1409	$2,499	$1.77	15d	1	0.86mi
4380 S 900 E #104 Millcreek, UT	3.0	2.5	1410	$2,699	$1.91	3d	1	0.86mi
4380 S 900 E Millcreek, UT	3.0	2.5	1409	$2,499	$1.77	24d	1	0.86mi
4386 S 900 E Millcreek, UT	2.0	3.5	1704	$2,599	$1.53	4d	1	0.86mi
4364 S 900 E Millcreek, UT	3.0	2.5	1409	$2,499	$1.77	24d	1	0.90mi
4386 S 900 E Salt Lake City, UT	3.0	2.5	1410	$2,499	$1.77	5d	1	0.91mi
4251 S 900 E Salt Lake City, UT	3.0	2.0	1670	$2,495	$1.49	12d	1	0.95mi
212 4800 S Murray, UT	3.0	1.0	1066	$1,845	$1.73	4d	1	0.98mi
3808 S West Temple South Salt Lake, UT	2.0	1.0–2.0	786	$1,830	$2.33	2d	10	0.99mi
853 E 4680 S Murray, UT	3.0	1.0–2.0	921	$2,579	$2.80	2d	11	1.00mi
810 E 3900 S Millcreek, UT	2.0	2.5	1516	$2,245	$1.48	11d	2	1.01mi
834 E 3900 S Millcreek, UT	2.0	2.5	1516	$2,195	$1.45	24d	1	1.03mi
838 E 3900 S Millcreek, UT	2.0	2.5	1516	$2,245	$1.48	14d	1	1.04mi
3944 S 900 E #204 Salt Lake City, UT	2.0	2.0	1100	$1,695	$1.54	11d	1	1.09mi
3944 S 900 E Salt Lake City, UT	3.0	2.0	1210	$1,895	$1.57	24d	1	1.10mi
325 Baird Cir #1 South Salt Lake, UT	2.0	1.0	1173	$1,400	$1.19	5d	1	1.11mi
3570 S 300 E Salt Lake City, UT	3.0	2.5	1500	$1,688	$1.12	2d	10	1.15mi
3714 S Balmossie Ln South Salt Lake, UT	3.0	2.5	1590	$1,900	$1.19	24d	1	1.17mi
3701 S Balmossie Ln South Salt Lake, UT	3.0	2.5	1878	$2,049	$1.09	17d	1	1.18mi
3552 S Terra Sol Dr South Salt Lake, UT	3.0	2.5	2100	$2,800	$1.33	24d	1	1.18mi

HOA detail

• Monthly dues: $4 · $48/yr
• Likely covers: gassecurity

Listing history 10 events

1. 2026-06-18
   days on market $122,800 Active 13 DOM
2. 2026-06-17
   days on market $122,800 Active 12 DOM
3. 2026-06-16
   days on market $122,800 Active 11 DOM
4. 2026-06-15
   days on market $122,800 Active 10 DOM
5. 2026-06-13
   days on market $122,800 Active 8 DOM
6. 2026-06-13
   days on market $122,800 Active 7 DOM
7. 2026-06-09
   days on market $122,800 Active 4 DOM
8. 2026-06-08
   days on market $122,800 Active 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $122,800 Active 2 DOM

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,545
• − Mortgage interest: −$6,879
• − Property taxes: −$1,842
• − Insurance: −$1,412
• − Repairs & maintenance: −$1,884
• − Management: −$1,884
• − HOA: −$48
• − Depreciation: −$3,572
• Taxable income: $6,025
• Est. tax owed @ 24.0%: −$1,446
• After-tax cash flow: $6,125/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.

Condition & rehab AI · 13 photos

Average 55/100 Cosmetic rehab

The home is in average condition with minor repairs needed. It has potential for a fresh paint job and new kitchen cabinets to significantly increase its value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance, but not damaged.
• Minor Bathroom fixtures — Slight wear, but functional.
• Minor Exterior siding — Weathered appearance, but no major damage.

Value-add opportunities

• Both Paint interior walls and trim — Fresh paint can significantly improve the home's appearance and value.
• Both Replace worn kitchen cabinets — New cabinets can enhance the kitchen's functionality and aesthetic appeal.
• Both Replace worn bathroom fixtures — Fresh fixtures can improve the bathroom's functionality and appearance.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance, but not damaged.	Minor	$500–3,000
Bathroom fixtures · Slight wear, but functional.	Minor	$500–3,000
Exterior siding · Weathered appearance, but no major damage.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls and trim — Fresh paint can significantly improve the home's appearance and value. ↑
• Both Replace worn kitchen cabinets — New cabinets can enhance the kitchen's functionality and aesthetic appeal. ↑
• Both Replace worn bathroom fixtures — Fresh fixtures can improve the bathroom's functionality and appearance. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Murray District
• NCES district ID: 4900600
• Math proficiency: 37% ▼ -8.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $53,804
• Composite: 34.84/100
• National rank: #5096
• State rank: #46 of 80 in UT

Livability — Murray

• Score: 82/100
• State rank: #29
• US rank: #1169

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Murray, UT
• County: Salt Lake County · 1,195,750 people
• City population: 38,257
• Metro: Salt Lake City, UT
• Population (ZIP): 38,257
• Household income: $72,108
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 2149.0

Population outlook (Salt Lake County) Hauer SSP2

• Today (2025): 1,305,860 people
• By 2030: 1,402,611 · +7.4%
• By 2040: 1,594,533 · +22.1%
• By 2050: 1,787,244 · +36.9%
• By 2075: 2,224,138 · +70.3%
• By 2100: 2,551,390 · +95.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 18% Two or more races 12% Asian 5% Black 4% Pacific Islander 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Slovak 4% Iranian 2%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 78% English-only · Spanish 10% Other Indo-European 4% Other Asian/Pacific 2%

Political lean MEDSL · Salt Lake

• 2024 margin: D (+10.2) · D 53.7% · R 43.5% · Other 2.8%
• 2008→2024 swing: +10.1pp toward D · 2008: 0.1pp · 2024: 10.2pp
• All cycles: 2024: D+10.2 2020: D+11.0 2016: D+10.2 2012: R+19.3 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -404.21%
• Current HPI: 309.8745
• Rent YoY: ▼ -3.04%
• Metro: Salt Lake City, 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

1 event — show timeline

• 2026-06-05 Listed $122,800 WFRMLS