157 S 800 E · Salt Lake City, UT 84102

$975,000

9 bd · 6.6 ba · 5,989 sqft · MultiFamily · 30 Days on market

Built 1950 Fair condition 9,583 sqft lot

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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 +13.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +3.0/5.0
• Schools +2.9/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

This multi-unit property was originally built as an elderly care facility that required overhead water sprinklers, which are still in place. Currently, the property is licensed and used as a single-room boarding home with multiple tenants. There is one 2-bedroom apartment and a 1-bedroom apartment on the main. Both have kitchens. The 2-bedroom apartment has a 3/4 bath, and the 1-bedroom has a full bath. One of the 1-bedroom units has a 1/2 bath; the other 7 rooms share two common baths. Upstairs, there are 2 common full bathrooms and a common area kitchen. THIS PROPERTY IS PERFECT "AS IS" OR CAN BE DEVELOPED INTO AN AIRBNB, HOSTEL, GROUP HOME, OR APARTMENT HOMES! THE BOILER IS A

Key facts

• Private bath
• 9,583 sq ft lot
• 5 garage spots

Tags

• OVERHEAD WATER SPRINKLERS
• PRIVATE BATH
• HIGHLY EFFICIENT BOILER
• ROOF IN EXCELLENT CONDITION

Property features AI

Finance

• Other: Zoned for multi-family (MR GRM); Landscaping present on part of the lot; Topography generally flat
• Financial info: 10 total units; Reported actual rent: $69,920 (unit-level summary); Annual tax amount listed
• HOA & community: No HOA information provided

Exterior

• Parking: Five total parking spaces; Five covered garage spaces (garage present); Open/uncovered parking available
• Security: No specific security features listed
• Utilities: Natural gas connected; Electricity connected; Public sewer connected; Culinary (public) water connected
• Home design: Multi-family property; Two stories; Faces west; Currently used as residential
• Construction: Stucco exterior; Asphalt roof; Built and standing (existing construction)
• Exterior features: Partially fenced lot; Curb and gutter; Sidewalks; Mountain view; Private lot

Interior

• Kitchen: No appliance details provided
• Bedrooms: 10-unit property with a total of 11 bedrooms
• Flooring: Carpet; Hardwood; Linoleum; Vinyl
• Bathrooms: Total of 5 bathrooms
• Heating & cooling: Gas radiant heating; Hot water heating
• Interior features: Blinds and drapes on some windows; Accessible doors; Entry foyer; Lighting fixtures; Window coverings included
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.2-bath units multifamily listed at $975k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-15 ($-181/yr) — negative. Per door: $-5/mo.
• To cash-flow at today's rent, offer at most $973k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $851k (12.7% below list).
• Recommended offer: $851k (12.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#64 in UT, #3,994 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A; Watch: cost of living D+, crime F.
• Salt Lake District (urban): math 30% / reading 37% proficiency, ranked #65 of 80 in UT (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wasatch School (math 53% / reading 56%, grade C, #106 of 585 statewide, top 19%, 337 students, 31% FRL); Salt Lake Center For Science Education Bryant (math 14% / reading 29%, grade F, #125 of 138 statewide, top 91%, 407 students, 64% FRL); East High (math 17% / reading 36%, grade F, #136 of 171 statewide, top 79%, 1,886 students, 51% FRL).
• Market conditions: Rents rising (+2.0%/yr); 133 active listings in the ZIP; 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).
• At $8,510/mo this rent would consume 196% of the median local household income ($52k/yr) (locally 2450% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $29k 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.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($960k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $851,000 (12.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.02% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.39×
• Total profit: $-167,136
• Equity at exit: $145,376

10-year hold

• IRR: -11.5%
• Equity multiple: 0.34×
• Total profit: $-179,691
• Equity at exit: $84,300

Cash invested: $273,000 (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 84102

• Rents YoY: 2.0%
• Active inventory: 133
• Price-to-rent: 28.6×

Monthly cashflow live

• Estimated rent: $8,510 high
• Mortgage (P&I): −$5,113
• Tax est. 1.5%: −$1,219 /mo · $14,625/yr
• Insurance: −$406
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,787
• Net cashflow: $-15

Break-even live

Break-even rent $8,529

Max offer price $972,814

Occupancy floor 95%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	2.2	$8,511
Total (3 units)			$8,510

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: $243,750
• Closing costs: $29,250
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-04-29
   listed $975,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $102,120
• − Mortgage interest: −$54,615
• − Property taxes: −$14,625
• − Insurance: −$4,875
• − Repairs & maintenance: −$8,170
• − Management: −$8,170
• − Depreciation: −$28,364
• Taxable loss: −$16,698
• Est. tax savings @ 24.0%: +$4,008
• After-tax cash flow: $3,826/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 · 5 photos

Fair 45/100 Moderate rehab

This multi-unit property requires moderate renovations, including painting the exterior siding and trimming the landscaping, to improve its curb appeal and property value.

Repairs flagged

• Major Exterior siding — Weathered and in need of repainting
• Major Landscaping — Overgrown and requires trimming

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and property value
• Both Trim landscaping — Improves curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and in need of repainting	Major	$15,000–50,000
Landscaping · Overgrown and requires trimming	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and property value ↑
• Both Trim landscaping — Improves curb appeal and property value ↑

ⓘ 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: Salt Lake District
• NCES district ID: 4900870
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 37% ▼ -6.00%
• Median HH income: $47,550
• Composite: 28.85/100
• National rank: #6645
• State rank: #65 of 80 in UT

Livability — Salt Lake City

• Score: 75/100
• State rank: #64
• US rank: #3994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salt Lake City, UT
• County: Salt Lake County · 1,195,750 people
• City population: 172,615
• Metro: Salt Lake City, UT
• Population (ZIP): 18,777
• Household income: $52,199
• Rent vs Own: 76.0% rent · 24.0% own
• Severe rent burden: 2450.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 9% Two or more races 8% Asian 7% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Italian 5% Slovak 4% Lithuanian 3%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 6% Chinese 3% Other Indo-European 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: ▼ -316.89%
• Current HPI: 343.2303
• Rent YoY: ▲ 2.02%
• 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

• 2026-04-29 Listed $975,000 WFRMLS