780 W 1125 N #128

Cedar City, UT 84721

$98,000B

3 bd · 2.0 ba · 1,490 sqft · Built 2000 · Manufactured · Pending · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,712/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$163
• HOA: −$0
• Vac / Maint / Mgmt: −$359
• Net cashflow: $675/mo
• Annual: $8,101/yr
• Cap rate: 14.56%
• Cash-on-cash: 29.52%
• DSCR: 2.31
• 1% rule: 1.75%
• Cash to close: $27,440

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $98k.
• At list price, monthly cash flow is $675 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• It's been on market 56 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#170 in UT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D, amenities F, commute F.
• Iron District (town): math 40% / reading 44% proficiency, ranked #42 of 80 in UT (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fiddlers Canyon School (math 47% / reading 37%, grade F, #287 of 585 statewide, top 52%, 544 students, 52% FRL); Canyon View Middle (math 32% / reading 46%, grade F, #79 of 138 statewide, top 58%, 989 students, 43% FRL); Canyon View High (math 27% / reading 42%, grade F, #95 of 171 statewide, top 61%, 1,123 students, 34% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: Rents rising fast (+5.0%/yr); 819 active listings in the ZIP; 655 units permitted in Iron County in 2024 (0 in 5+ unit buildings).
• Iron County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• This rent runs 31% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.