3760 S Gold Ridge Dr W #82

Magna, UT 84044

$45,000D

3 bd · 2.0 ba · 1,056 sqft · Built 2004 · Manufactured · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,002/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$75
• HOA: −$1,090
• Vac / Maint / Mgmt: −$420
• Net cashflow: $180/mo
• Annual: $2,163/yr
• Cap rate: 11.10%
• Cash-on-cash: 17.16%
• DSCR: 1.76
• 1% rule: 4.45%
• Cash to close: $12,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $45k. Condition is rated fair.
• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• It's been on market 29 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#65 in UT, #4,367 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B; Watch: 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: Elk Run Elementary (math 19% / reading 22%, grade F, #518 of 585 statewide, top 89%, 629 students, 55% FRL); Cyprus High (math 11% / reading 33%, grade F, #150 of 171 statewide, top 88%, 2,709 students, 47% FRL).
• Watch-outs: HOA is 54% of rent.
• Market conditions: 209 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Worn and dated
• Moderate: Bathroom fixtures — Worn and dated
• Moderate: Exterior siding — Weathered