3030 S Heritage Dr

West Valley City, UT 84119

$39,000C

2 bd · 1.5 ba · 840 sqft · Built 1971 · Manufactured · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$205
• Tax + insurance: −$65
• HOA: −$855
• Vac / Maint / Mgmt: −$315
• Net cashflow: $60/mo
• Annual: $722/yr
• Cap rate: 8.14%
• Cash-on-cash: 6.61%
• DSCR: 1.29
• 1% rule: 3.85%
• Cash to close: $10,920

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $39k.
• At list price, monthly cash flow is $60 ($722/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $39k).
• It's been on market 44 days — a 3% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $38k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#55 in UT, #3,285 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: crime D-, amenities F, health & safety D-.
• Granite District (suburban): math 26% / reading 32% proficiency, ranked #69 of 80 in UT (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Stansbury School (math 12% / reading 17%, grade F, #559 of 585 statewide, top 96%, 623 students, 82% FRL); Granite Park Jr High (math 6% / reading 14%, grade F, #138 of 138 statewide, top 100%, 871 students, 70% FRL); Granger High (math 7% / reading 22%, grade F, #167 of 171 statewide, top 98%, 3,481 students, 63% FRL) — zoned schools average 71% FRL vs 45% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 13% at this address vs 29% district-wide (-16 pts) — the specific schools serving this property underperform the Granite District average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 57% of rent.
• Market conditions: Rents flat; 232 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).
• Salt Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 29y ago 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.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.