116 N Tremont St

Tremonton, UT 84337

$1,050,000B-

121 bd · 121.0 ba · 4,815 sqft · Built 1942 · MultiFamily · Active · 182 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $18,058/mo
• Mortgage (P&I): −$5,506
• Tax + insurance: −$1,750
• HOA: −$0
• Vac / Maint / Mgmt: −$3,792
• Net cashflow: $7,010/mo
• Annual: $84,114/yr
• Cap rate: 14.30%
• Cash-on-cash: 28.61%
• DSCR: 2.27
• 1% rule: 1.72%
• Cash to close: $294,000

Investor read

• This is a 11 × 11-bed/?-bath units multifamily listed at $1.05M.
• At list price, monthly cash flow is $7k ($84k/yr) — positive. Per door: $637/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.05M).
• It's been on market 182 days — a 12% lower offer ($924k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $924k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $32k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#135 in UT) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F.
• Box Elder District (town): math 41% / reading 42% proficiency, ranked #38 of 80 in UT (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Park School (math 41% / reading 33%, grade F, #355 of 585 statewide, top 63%, 635 students, 39% FRL); Bear River High (math 28% / reading 45%, grade F, #86 of 171 statewide, top 52%, 1,172 students, 22% FRL) — zoned schools at 31% FRL track the district average.
• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 269 active listings in the ZIP; solid renter incomes; 461 units permitted in Box Elder County in 2024 (62 in 5+ unit buildings).
• Box Elder County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $294k cash investment doubles in ~5 years — after that, you're playing with house money.
• At $18,058/mo this rent would consume 265% of the median local household income ($82k/yr) (locally 53% 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 182 days. Have you received any prior offers? Is the seller open to a 12% 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 1942 — 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.