1131 W Arapahoe Ave · Salt Lake City, UT 84104

$565,000

15 bd · 9.0 ba · 575 sqft · MultiFamily public records · 7 Days on market

Built 1962 6,098 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 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

Solid income-producing triplex with a strong unit mix and upside potential. Unit 1 is a 2 bed / 1 bath currently rented for $1,120/month, Unit 2 is a 2 bed / 1 bath rented for $1,375/month, and Unit 3 is a vacant 1 bed / 1 bath listed for $995/month. Potential gross rental income of approximately $3,490/month once fully leased. Great opportunity for an investor seeking immediate cash flow with additional upside through lease-up of the vacant unit. SELLER FINANCING AVAILABLE!! Owner/Agent.

Key facts

• 6,098 sq ft lot
• 7 parking spots
• Built 1962

Property features AI

Finance

• Other: Zoning: R15000
• Financial info: Property is a 3-unit multi-family (3 total units); Unit rents reported: Unit A (2-bed) $1,375; Unit B (1-bed) $1,020; Unit C (2-bed) $1,120

Exterior

• Parking: Total 7 parking spaces; 2 covered/carport spaces; 5 open/uncovered parking spaces; Carport
• Utilities: Natural gas connected; Electricity connected; Public sewer connected; Culinary (public) water connected
• Home design: Front-and-rear architectural style; Faces north; Residential use
• Construction: Built/standing condition; Effective year built 2015; Brick and frame construction; Asphalt pitched roof
• Exterior features: Basement entrance; Curb and gutter; Paved road; Sidewalks; Full landscaping; Flat terrain

Interior

• Kitchen: Range/oven included (free standing)
• Bedrooms: Three separate units: one 2-bedroom unit, one 1-bedroom unit, and another 2-bedroom unit
• Flooring: Carpet; Vinyl
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating; Gas central heating
• Interior features: Free standing range/oven; Blinds
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $565k.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $565k).

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: Franklin School (math 17% / reading 12%, grade F, #559 of 585 statewide, top 96%, 306 students, 88% FRL); Salt Lake Center For Science Education Bryant (math 14% / reading 29%, grade F, #125 of 138 statewide, top 91%, 407 students, 64% FRL); East High (math 17% / reading 36%, grade F, #136 of 171 statewide, top 79%, 1,886 students, 51% FRL).
• Zoned-school proficiency averages 21% at this address vs 34% district-wide (-13 pts) — the specific schools serving this property underperform the Salt Lake District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-5.2%/yr); 81 active listings in the ZIP; 4,970 units permitted in Salt Lake County in 2024 (1,963 in 5+ unit buildings).
• At $8,659/mo this rent would consume 169% of the median local household income ($61k/yr) (locally 973% 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 $4k of loan paydown is wiped out by about $17k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $158k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 23y 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.

Recommended offer $565,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.53% ✓
• Cap rate: 13.56%
• Cash-on-cash: 25.95%
• DSCR: 2.15
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 1.64×
• Total profit: $100,824
• Equity at exit: $84,243

10-year hold

• IRR: 22.8%
• Equity multiple: 2.70×
• Total profit: $269,656
• Equity at exit: $48,851

Cash invested: $158,200 (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 84104

• Rents YoY: -5.2%
• Active inventory: 81
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $8,659 high
• Mortgage (P&I): −$2,963
• Tax from tax record: −$221 /mo · $2,648/yr
• Insurance: −$235
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,818
• Net cashflow: $3,422

Break-even live

Break-even rent $4,328

Max offer price $565,000

Occupancy floor 55%

Sensitivity live

Price	-10% $3,741	-5% $3,582	+0% $3,422	+5% $3,262	+10% $3,102
Rent	-10% $2,738	-5% $3,080	+0% $3,422	+5% $3,764	+10% $4,106
Rate	-1.0pp $3,706	-0.5pp $3,565	base $3,422	+0.5pp $3,275	+1.0pp $3,126

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$8,658
Total (3 units)			$8,659

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $565,000 Active 7 DOM
2. 2026-06-17
   days on market $565,000 Active 6 DOM
3. 2026-06-16
   days on market $565,000 Active 5 DOM
4. 2026-06-16
   remarks 493-char remark
5. 2026-06-15
   days on market $565,000 Active 4 DOM
6. 2026-06-13
   days on market $565,000 Active 2 DOM
7. 2026-06-13
   remarks 464-char remark
8. 2026-06-13
   listed $565,000 Active 1 DOM

ⓘ 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: $2,648 · $221/mo
• Projected year-2 tax: $3,729 · $311/mo
• Expected delta: +$1,081/yr (+$90/mo · 40.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $103,908
• − Mortgage interest: −$31,649
• − Property taxes: −$2,648
• − Insurance: −$2,825
• − Repairs & maintenance: −$8,313
• − Management: −$8,313
• − Depreciation: −$16,436
• Taxable income: $33,724
• Est. tax owed @ 24.0%: −$8,094
• After-tax cash flow: $32,965/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): 23,420
• Household income: $61,425
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 973.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 47% White 33% Two or more races 11% Black 5% Asian 5% Pacific Islander 5% Native American 3%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Italian 2% Ukrainian 2% Slovak 1%
• Foreign-born: 26% · Canada, Vietnam, Philippines
• Languages at home: 51% English-only · Spanish 35% Other Asian/Pacific 6% Vietnamese 2%

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: ▼ -210.53%
• Current HPI: 346.6058
• Rent YoY: ▼ -5.15%
• 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

+214.1% since first listed

40 events — show timeline

• 2026-06-11 Listed $565,000 WFRMLS
• 2026-05-01 Listing Removed — WFRMLS
• 2026-04-06 Price Changed $578,000 WFRMLS
• 2026-03-12 Price Changed $579,000 WFRMLS
• 2026-02-12 Price Changed $589,000 WFRMLS
• 2025-11-18 Listed $599,000 WFRMLS
• 2025-01-16 Rental Removed $1,095 PROPERTYWARE
• 2024-12-19 Price Changed $1,095 PROPERTYWARE
• 2024-12-12 Price Changed $1,125 PROPERTYWARE
• 2024-12-11 Listed for Rent $1,225 PROPERTYWARE
• 2024-11-21 Rental Removed $1,225 SHOWMOJO
• 2024-11-20 Price Changed $1,225 SHOWMOJO
• 2024-10-17 Listed for Rent $1,250 SHOWMOJO
• 2024-10-12 Rental Removed $1,300 SHOWMOJO
• 2024-10-12 Listed for Rent $1,300 SHOWMOJO
• 2024-08-09 Rental Removed $1,400 SHOWMOJO
• 2024-08-07 Listed for Rent $1,400 SHOWMOJO
• 2020-11-24 Sold (Public Records) — Public Records
• 2020-10-30 Listing Removed — WFRMLS
• 2020-10-29 Pending — WFRMLS
• 2020-10-23 Relisted — WFRMLS
• 2020-10-09 Pending — WFRMLS
• 2020-09-30 Listed $450,000 WFRMLS
• 2018-08-20 Sold (Public Records) — Public Records
• 2018-08-20 Sold (Public Records) — Public Records
• 2018-08-20 Sold (MLS) — WFRMLS
• 2018-07-17 Pending — WFRMLS
• 2018-07-13 Listed $355,000 WFRMLS
• 2017-07-20 Listing Removed — WFRMLS
• 2017-06-06 Listed $329,900 WFRMLS
• 2016-12-16 Sold (Public Records) — Public Records
• 2016-12-16 Sold (Public Records) — Public Records
• 2016-01-23 Listing Removed — WFRMLS
• 2016-01-15 Relisted — WFRMLS
• 2015-12-09 Listing Removed — WFRMLS
• 2015-09-15 Listed $250,000 WFRMLS
• 2004-04-15 Sold (Public Records) — Public Records
• 2004-04-08 Sold (MLS) — WFRMLS
• 2003-02-17 Listed $179,900 WFRMLS
• 2001-08-02 Sold (Public Records) — Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,648 · -2.3% YoY. Source: county tax records.