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$535,000

For Sale - Active
971 S 450 E, Orem, UT 84097
4 Beds
2 Baths
1,923 Square Feet
0.15 Acres Lot
Built in 1949
For Sale - Active
1 Units
Checked: 22 hours ago
Updated: Apr 23, 2025 at 09:35PM

Investment Summary


Monthly Cash Flow
-$1,362
Cap Rate
3.2%
Cash-on-Cash Return
-13.3%
Debt Coverage Ratio
0.51
Internal Rate of Return (5 years)
-8.9%

Property Description


0.15 Acres Lot
Built in 1949
For Sale - Active
1 Units

Conveniently located in South Orem right between UVU and BYU. Original stained hardwood floors and fully remodeled kitchen, both bathrooms, and basement. Spacious great room that leads to the backyard with raised garden beds with drip lines, a large sandbox, and wood-burning fireplace on the covered back porch. Most of the plumbing and electrical have been updated. Newer roof, windows and HVAC in 2016. Sprinkler system, landscaping, and large driveway. The location is great easy access to State Street and shopping. Buyer to verify all information to their satisfaction.

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Location


Property Details


Parking

  • Description: Parking: Uncovered, Rv Parking
  • Details: RV Access/Parking
  • Garage Spaces: 1
  • Spaces Total: 4

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 12
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Masonry
  • Roof Type: Gable
  • Roof Material: Asphalt

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 360830057
  • Lot Size: 6534 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Rambler/Ranch
  • Year Built: 1949

Tax Information

  • Annual Tax: $1,765

Utilities

  • Heating: Central, Natural Gas, Forced Air
  • Cooling: Central Air

Location

  • County: Utah

Listing Details


Listed by:
Spencer Whitham
FLUX Real Estate, LLC

Source:
UtahRealEstate (Wasatch Front)
MLS#: 2075510
UtahRealEstate (Wasatch Front)

Investment Summary


Monthly Cash Flow
-$1,362
Cap Rate
3.2%
Cash-on-Cash Return
-13.3%
Debt Coverage Ratio
0.51
Internal Rate of Return (5 years)
-8.9%

Purchase Details

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Purchase price:
$535,000
Amount financed:
-$428,000
Down payment:
$107,000
Closing costs:
$16,050
Rehab costs:
$0
Initial cash invested:
$123,050
Square feet:
1,923
Cost per square foot:
$278
Monthly rent per square foot:
$1.20

Financing Details

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Loan amount:
$428,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$2,802
Property tax:
$147
Insurance:
$161
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,110

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,300 $27,600
Vacancy loss: (6%)
6% -$138 -$1,656
Operating income:
$2,162 $25,944

Operating Expenses


% Rent Monthly Yearly
Property taxes: (6%)
6%-$147-$1,765
Insurance: (7%)
7%-$161-$1,932
Property management: (8%)
8%-$184-$2,208
Repairs & maintenance: (5%)
5%-$115-$1,380
Capital expenditures: (5%)
5%-$115-$1,380
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (31%)
31%-$722-$8,665

Cash Flow


Monthly Yearly
Net operating income:
$1,440 $17,280
Mortgage payments:
-$2,802 -$33,624
Cash flow:
$1,362 $16,344