825 S 90 E Unit E304

Vernal, UT 84078

$184,900D-

3 bd · 2.0 ba · 1,172 sqft · Built 2008 · Condo · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,582/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$144
• HOA: −$195
• Vac / Maint / Mgmt: −$332
• Net cashflow: $-60/mo
• Annual: $-715/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• 1% rule: 0.86%
• Cash to close: $51,772

Investor read

• This is a 3-bed/2.0-bath condo listed at $185k.
• At list price, monthly cash flow is $-60 ($-715/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (14.5% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $158k (14.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#60 in UT, #3,813 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, amenities A; Watch: crime D+, health & safety D+, employment F.
• Uintah District (town): math 34% / reading 34% proficiency, ranked #60 of 80 in UT (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Naples School (math 39% / reading 36%, grade F, #352 of 585 statewide, top 60%, 502 students, 56% FRL); Vernal Middle (math 35% / reading 38%, grade F, #88 of 138 statewide, top 66%, 849 students, 42% FRL); Uintah High (math 18% / reading 36%, grade F, #131 of 171 statewide, top 79%, 1,808 students, 31% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 276 active listings in the ZIP; solid renter incomes; 85 units permitted in Uintah County in 2024 (0 in 5+ unit buildings).
• Uintah County population projected at +72% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 18y ago; this cycle's ask is 16% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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?
• 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?
• 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.