1150 S 400 E · Salt Lake City, UT 84111

$990,000

16 bd · 16.0 ba · 1,676 sqft · MultiFamily public records · 132 Days on market

Built 1910 8,712 sqft lot

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Why this score? — see what drove the C- 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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 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 MLS

There are no remarks available.

Key facts

• Recent updates
• Efficient layouts
• Turn-key fourplex

Tags

• TURN-KEY FOURPLEX
• STRONG RENTAL INCOME
• WELL-MAINTAINED FOURPLEX
• RECENT UPDATES
• OFF-STREET PARKING
• EFFICIENT LAYOUTS

Property features AI

Finance

• Other: Has view
• Financial info: Four-unit property with individual unit rents reported: $1,350; $1,500; $1,500; $1,250
• HOA & community: Located in subdivision: FIVE ACRE

Exterior

• Parking: 4 total parking spaces (all open)
• Utilities: Natural gas connected; Electricity available; Public sewer (connected); Water connected
• Home design: 2-story multi-family property; Designed/used as residential multi-family; Zoned Multi-Family (R-1-50)
• Construction: Built in 2014; Clapboard exterior; Asphalt roof; Property built/standing condition
• Exterior features: Stained glass windows; Paved road access; Automatic full sprinkler system; Mountain view; Landscaped (full); Flat terrain

Interior

• Kitchen: Updated kitchen; Range/oven (free-standing); Built-in dishwasher; Garbage disposal
• Bedrooms: Four 1-bedroom units (each unit listed as 1 bed)
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Four 1-bath units (each unit listed as 1 bath)
• Heating & cooling: Gas central heating
• Interior features: Updated kitchen; Built-in dishwasher; Garbage disposal; Blinds on windows

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $990k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $325/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $947k (4.4% below list).
• Recommended offer: $871k (12.0% below list) — sets the bar for market timing.

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: Liberty School (math 12% / reading 12%, grade F, #572 of 585 statewide, top 98%, 391 students, 100% FRL); Clayton Middle (math 47% / reading 50%, grade C-, #35 of 138 statewide, top 26%, 634 students, 24% FRL); Highland High (math 21% / reading 54%, grade F, #76 of 171 statewide, top 45%, 1,980 students, 30% FRL).
• Market conditions: Rents rising (+1.4%/yr); 81 active listings in the ZIP; 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).
• At $9,469/mo this rent would consume 215% of the median local household income ($53k/yr) (locally 1448% 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 $30k 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 132 days — a 12% lower offer ($871k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $200k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $871,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 0.96% ✗
• Cap rate: 7.95%
• Cash-on-cash: 5.92%
• DSCR: 1.26
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.43% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.67×
• Total profit: $-92,540
• Equity at exit: $147,612

10-year hold

• IRR: -1.9%
• Equity multiple: 0.88×
• Total profit: $-33,498
• Equity at exit: $85,597

Cash invested: $277,200 (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 84111

• Rents YoY: 1.4%
• Active inventory: 81
• Price-to-rent: 34.9×

Monthly cashflow live

• Estimated rent: $9,469 medium
• Mortgage (P&I): −$5,192
• Tax from tax record: −$509 /mo · $6,104/yr
• Insurance: −$412
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,988
• Net cashflow: $1,301

Break-even live

Break-even rent $7,822

Max offer price $990,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$9,468
Total (4 units)			$9,469

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: $247,500
• Closing costs: $29,700
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-18
   days on market $990,000 Active 132 DOM
2. 2026-06-17
   days on market $990,000 Active 131 DOM
3. 2026-06-16
   days on market $990,000 Active 130 DOM
4. 2026-06-15
   days on market $990,000 Active 129 DOM
5. 2026-06-13
   days on market $990,000 Active 127 DOM
6. 2026-06-13
   days on market $990,000 Active 126 DOM
7. 2026-06-09
   days on market $990,000 Active 123 DOM
8. 2026-06-08
   days on market $990,000 Active 122 DOM
9. 2026-06-07
   days on market $990,000 Active 121 DOM
10. 2026-06-05
    days on market $990,000 Active 118 DOM
11. 2026-06-03
    days on market $990,000 Active 117 DOM
12. 2026-06-02
    days on market $990,000 Active 116 DOM
13. 2026-06-01
    days on market $990,000 Active 115 DOM
14. 2026-05-31
    days on market $990,000 Active 114 DOM
15. 2026-05-07
    price $990,000
16. 2026-04-22
    price $1,131,000
17. 2026-03-04
    status Active
18. 2026-02-24
    historical Backup
19. 2026-02-06
    listed $1,190,000 Active
20. 2022-06-04
    price $1,195
21. 2021-01-05
    soldstatus Sold 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

22. 2021-01-04
    soldstatus
23. 2020-11-07
    status Under Contract 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

24. 2020-11-06
    price $889,000 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

25. 2020-10-20
    listed $899,000 Active 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

26. 2020-07-23
    historical
27. 2020-07-01
    listed $849,900 Active
28. 2020-04-22
    soldstatus
29. 2019-03-29
    soldstatus
30. 2018-03-20
    soldstatus
31. 2018-03-19
    soldstatus Sold
32. 2018-03-16
    status Under Contract
33. 2018-03-13
    listed $489,000 Active
34. 2018-03-09
    soldstatus
35. 2016-12-30
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast UT · Resets to sale price

• Current annual tax: $6,104 · $509/mo
• Projected year-2 tax: $6,534 · $544/mo
• Expected delta: +$430/yr (+$36/mo · 7.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $113,628
• − Mortgage interest: −$55,455
• − Property taxes: −$6,104
• − Insurance: −$5,748
• − Repairs & maintenance: −$9,090
• − Management: −$9,090
• − Depreciation: −$28,800
• Taxable loss: −$659
• Est. tax savings @ 24.0%: +$158
• After-tax cash flow: $15,773/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.

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): 12,782
• Household income: $52,952
• Rent vs Own: 78.4% rent · 21.6% own
• Severe rent burden: 1448.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Asian 9% Two or more races 8% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Slovak 4% Italian 3% Romanian 3%
• Foreign-born: 17% · Canada, China, Guatemala
• Languages at home: 76% English-only · Spanish 12% Other Asian/Pacific 3% Other Indo-European 3%

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: ▼ -260.06%
• Current HPI: 377.6526
• Rent YoY: ▲ 1.43%
• 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

+102.5% since first listed

21 events — show timeline

• 2026-05-07 Price Changed $990,000 WFRMLS
• 2026-04-22 Price Changed $1,131,000 WFRMLS
• 2026-03-04 Relisted — WFRMLS
• 2026-02-24 Contingent — WFRMLS
• 2026-02-06 Listed $1,190,000 WFRMLS
• 2022-06-04 Price Changed $1,195 RENT.
• 2021-01-05 Sold (MLS) — WFRMLS
• 2021-01-04 Sold (Public Records) — Public Records
• 2020-11-07 Pending — WFRMLS
• 2020-11-06 Price Changed $889,000 WFRMLS
• 2020-10-20 Listed $899,000 WFRMLS
• 2020-07-23 Listing Removed — WFRMLS
• 2020-07-01 Listed $849,900 WFRMLS
• 2020-04-22 Sold (Public Records) — Public Records
• 2019-03-29 Sold (Public Records) — Public Records
• 2018-03-20 Sold (Public Records) — Public Records
• 2018-03-19 Sold (MLS) — WFRMLS
• 2018-03-16 Pending — WFRMLS
• 2018-03-13 Listed $489,000 WFRMLS
• 2018-03-09 Sold (Public Records) — Public Records
• 2016-12-30 Sold (Public Records) — Public Records

Property tax history

+11.3%/yr

Latest (2025): $6,104 · +1.1% YoY. Source: county tax records.