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Deal of the Day Eagle Mountain Condo near Ranches

PMI Made Simple - Thursday, January 30, 2020

At PMI Made Simple we strive to be your financial guide along your journey to financial freedom through real estate. We also believe that Utah county and Utah is a unique real estate market that can be rewarding to real estate investors. 

This is a quick real estate investment analysis of a condo that just hit the market in the East part of Eagle Mountain near the Ranches! This property has a couple of things going for it that we think that this could be a great 1st or 2nd acquisition for a real estate investor. Its price is great to get a 3 bedroom property at $205,000. Market rate rents are $1,175/mo. However, one of the bedrooms would need to be repainted to get that rental rate. 

Here are a few of the reasons why we like it:

  • 2009 construction
  • This area of Eagle Mountain near the Ranches grown alot with a lot of commerical real estate come into the area. Growth is only going to get better for this are over time as well.
  • Solid school system near Westlake High School
  • Potential for positive cash flow after HOA payments with a 25% downpayment
  • The community comes with great amenities. 

We like investments in the East Side of Eagle Mountian, we think you can get a lot of property for your investment. 

Here is our summary scorecard. 

City TypeMillcreek Condo
Price for Cash Flow?B
Est. Vacancy?B
Property Age/conditionA-
Infrastructure/growthB+
Key CharacteristicsGrowth area, low price point, good condition
Recommended InvestmentSomeone getting started
Who is it a fit for?Learning opportunity, lower buy in

All figures are estimates. Brokerage services provided by PMI Wasatch