|
Fourplexes with over $19,000 Annual Cash-Flow
|
| Location: |
Vernal, Utah |
|
| Property Type: |
New Fourplex (3 bedroom) |
| Market Value: |
$465,000 |
| Purchase Price: |
$465,000 |
| Estimated Equity: |
$ n/a (n/a) |
| Cash Flow: |
$19,009 /year ($1,584 /month) |
| Capitalization Rate: |
9.4% |
| Return on Investment: |
107% |
| DealGrader™ Score: |
9.4 (out of 10) |
Market research indicates continued growth in Vernal, Utah. The booming oil and gas industry and the lack of affordable housing
and rental homes make vernal a very stable market poised for strong growth and appreciation.
Location and Population
Vernal, Utah is located east of Salt Lake City in Uintah County. Vernal serves as the county seat for Uintah County. The city
has around 31% of the county's population. According to the 2000 Census, the population was 7,885.
Real Estate and Housing
The Census records show that there were 3,012 housing units, 59% is owner occupied. The median value for owner occupied housing
was $79,100 with a median property tax of $505. A vast array of homes can be found in Vernal City and the surrounding areas
with price ranges that fit every budget. With property values increasing steadily, Vernal area real estate is a great investment.
The growing medical facilities, fire and police departments, schools, and new water treatment plant keep Vernal current with
resident's needs.
Economy
Vernal's median household income is $48,523. Around 17% of the households in Vernal possess some type of self-employment. Unemployment
is low near 4%.
- The local economy is driven by tourism, recreational opportunities, oil and gas production, mining, ranching, logging
and farming.
- Uintah County's main employment groups are Government, Industrial, Medical, Trucking, Utility Companies, Lodging, Food
Services and Professional Services.
- Shopping, employment, and schools are located within walking distance. The economy in this area is steady and the market
is steady with no significant decline.
- Current interest rates and terms on financing are still very attractive for investors.
Development Site
- Close to City/County Airport.
- Centrally Located to Vernal's Downtown Main Street, and only 10 blocks east of the Vernal Temple.
- Walking distance to Vernal's Western Park and Convention Center, as well as the Vernal City Library.
- Walking Distance to Fairgrounds, Uintah Recreation Complex, and the new Ice Rink-Hockey Complex.
- 5 blocks south of the new Utah Fieldhouse of Natural History.
- Scenic views of Split Mountain, Taylor Mountain, Diamond Mountain and the Uintah Basin's grand ledges.
- Complete appliance package (stove, refrigerator, microwave, dishwasher, W & D)
- Property Management Included
- Financing Included
- Quantities are limited. $5,000 deposit. Reserve today!
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