5619 S 2200 W

Roy, UT 84067

$679,000C+

16 bd · 76.0 ba · 4,904 sqft · Built 1960 · MultiFamily · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,958/mo
• Mortgage (P&I): −$3,561
• Tax + insurance: −$1,132
• HOA: −$0
• Vac / Maint / Mgmt: −$1,671
• Net cashflow: $1,594/mo
• Annual: $19,133/yr
• Cap rate: 9.11%
• Cash-on-cash: 10.06%
• DSCR: 1.45
• 1% rule: 1.17%
• Cash to close: $190,120

Investor read

• This is a 4 × 4-bed/19.0-bath units multifamily listed at $679k. Condition is rated average.
• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $399/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $679k).
• It's been on market 102 days — a 9% lower offer ($618k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $618k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#32 in UT, #1,449 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, commute A; Watch: amenities F.
• Weber District (suburban): math 36% / reading 35% proficiency, ranked #56 of 80 in UT (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Midland School (math 37% / reading 28%, grade F, #416 of 585 statewide, top 71%, 568 students, 29% FRL); Roy Jr High (math 23% / reading 25%, grade F, #123 of 138 statewide, top 90%, 1,008 students, 37% FRL); Roy High (math 15% / reading 39%, grade F, #131 of 171 statewide, top 79%, 1,834 students, 28% FRL).
• Market conditions: Rents soft (-0.5%/yr); 203 active listings in the ZIP; solid renter incomes; 1,630 units permitted in Weber County in 2024 (521 in 5+ unit buildings).
• Weber County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At $7,958/mo this rent would consume 105% of the median local household income ($91k/yr) (locally 216% 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 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — The cabinets are wooden and show some wear.
• Minor: Bathroom fixtures — The fixtures in the bathrooms appear to be in good condition.
• Minor: Exterior paint — The exterior paint appears to be in good condition.