1460 S Windsor Pkwy #5

Hurricane, UT 84737

$99,800B

5 bd · 5.0 ba · 3,052 sqft · Built 2023 · Condo · Active · 630 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,480/mo
• Mortgage (P&I): −$523
• Tax + insurance: −$166
• HOA: −$225
• Vac / Maint / Mgmt: −$731
• Net cashflow: $1,834/mo
• Annual: $22,011/yr
• Cap rate: 28.35%
• Cash-on-cash: 78.77%
• DSCR: 4.50
• 1% rule: 3.49%
• Cash to close: $27,944

Investor read

• This is a 5-bed/5.0-bath condo listed at $100k.
• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• It's been on market 630 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $690 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#163 in UT) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Washington District (urban): math 42% / reading 45% proficiency, ranked #37 of 80 in UT (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coral Canyon School (math 28% / reading 33%, grade F, #432 of 585 statewide, top 74%, 565 students, 50% FRL); Tonaquint Intermediate (math 31% / reading 38%, grade F, #96 of 138 statewide, top 69%, 735 students, 42% FRL); Hurricane High (math 23% / reading 53%, 1,201 students, 30% FRL).
• Market conditions: Rents rising (+2.7%/yr); 1033 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,140 units permitted in Washington County in 2024 (650 in 5+ unit buildings).
• Washington County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $50k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $100k implies a 636% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $3,480/mo this rent would consume 55% of the median local household income ($76k/yr) (locally 382% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 630 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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 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.