2137 W Northridge Dr · Lehi, UT 84048

$775,000

3 bd · 3.5 ba · 3,104 sqft · Other public records · 44 Days on market

Built 2020 5,227 sqft lot $94/mo HOA · 2% of rent

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.2/30.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.5/10.0
• 1% rule +0.4/10.0

Listing remarks

* * Block Party Open House, Saturday, May 30th 11-1p. m. * * Beautiful Lehi home with stunning valley views in a highly desirable neighborhood, ideally situated above the inversion for cleaner air and clearer skies. This home offers thoughtful upgrades and a functional layout designed for comfortable living. Features include an A. O. Smith water softener with multi-stage filtration and UV filter, radon mitigation system, Ring security system with 6 cameras, and a 50-amp EV charger. The home is filled with natural light, featuring an open-concept layout that seamlessly connects the family room and kitchen. Large windows throughout bring in abundant natural light and showcase stunning view

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Subdivision: RIDGE
• HOA & community: Homeowners association with monthly fee ($94); Community amenities include clubhouse, fitness center, pool, tennis courts, playground, picnic area, biking and hiking trails; Pets permitted (subject to rules)

Exterior

• Parking: Attached garage; 2-car garage; 2 covered parking spaces; 2 open parking spaces; Total of 4 parking spaces
• Security: Video doorbell(s)
• Utilities: Natural gas connected; Electricity connected; Public sewer (connected); Culinary and irrigation water connected
• Home design: Two-story single-family home; Facing northeast; Currently built/standing
• Construction: Built with asphalt, stone, stucco, and cement siding; Asphalt roof; Full finished basement (100%)
• Exterior features: Basement entrance with walkout; Double-pane windows; Foyer entry; Sliding glass doors; Open patio; Fully fenced yard; Paved road and sidewalks; Automatic full sprinkler system; Drip irrigation (automatic); Mountain and valley views; Full landscaping

Interior

• Kitchen: Built-in range/oven; Microwave; Range hood; Refrigerator; Granite countertops
• Bedrooms: Includes multiple bedrooms (total rooms listed: 17); Basement level bedrooms possible (basement with full entrance and fully finished)
• Flooring: Carpet
• Bathrooms: 1 full bathroom; 2 three-quarter bathrooms; 1 partial/half bathroom
• Heating & cooling: Forced air heating (gas central); Central air conditioning
• Interior features: Wet bar; Walk-in closet(s); Den/office; Garbage disposal; Floor drains; Built-in range/oven; Vaulted ceilings; Granite countertops; Video doorbell(s); Blinds (full)
• Laundry & utility: Washer; Dryer (electric hookup); Water softener (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath other listed at $775k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $525k (32.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $420k (45.9% below list).
• Recommended offer: $420k (45.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 88/100 on livability (#6 in UT, #242 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Alpine District (suburban): math 45% / reading 50% proficiency, ranked #25 of 80 in UT (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Traverse Mountain School (math 62% / reading 52%, grade C+, #75 of 585 statewide, top 14%, 737 students, 11% FRL); Viewpoint Middle (1,790 students, 14% FRL); Lehi High (math 36% / reading 47%, grade F, #57 of 171 statewide, top 34%, 1,982 students, 12% FRL).
• Market conditions: 324 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 6,326 units permitted in Utah County in 2024 (1,053 in 5+ unit buildings).

Forward outlook

• In year one you build about $83k of equity ($5k loan paydown + $78k appreciation (10.0% local appreciation)).
• Utah County population projected at +49% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$133k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($752k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $419,629 (45.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.54% ✗
• Cap rate: 4.10%
• Cash-on-cash: -7.82%
• DSCR: 0.65
• GRM: 15.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 2.53×
• Total profit: $331,740
• Equity at exit: $698,181

10-year hold

• IRR: 17.4%
• Equity multiple: 5.83×
• Total profit: $1,047,073
• Equity at exit: $1,505,655

Cash invested: $217,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 86 Strongly Landlord-Friendly
• State Utah: 86 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

3-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 84048

• Home prices YoY: 16.8%
• Active inventory: 324
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $4,196 medium
• Mortgage (P&I): −$4,064
• Tax from tax record: −$247 /mo · $2,969/yr
• Insurance: −$323
• HOA: −$94
• Vacancy / Maint / Mgmt: −$881
• Net cashflow: $-1,413

Break-even live

Break-even rent $5,985

Max offer price $525,309

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $193,750
• Closing costs: $23,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1722 W Oakridge Cir Lehi, UT	4.0	3.5	3494	$5,500	$1.57	2d	1	0.34mi
2227 W Aspen Wood Loop Lehi, UT	3.0	2.5	4328	$3,150	$0.73	23d	1	0.41mi
2616 W Wildberry Ct Lehi, UT	4.0	3.5	2400	$2,695	$1.12	23d	1	0.72mi

HOA detail

• Monthly dues: $94 · $1,128/yr
• Likely covers: watersecurity

Listing history 16 events

1. 2026-06-18
   days on market $775,000 Active 44 DOM
2. 2026-06-17
   days on market $775,000 Active 43 DOM
3. 2026-06-16
   days on market $775,000 Active 42 DOM
4. 2026-06-15
   days on market $775,000 Active 41 DOM
5. 2026-06-14
   days on market $775,000 Active 39 DOM
6. 2026-06-13
   days on market $775,000 Active 38 DOM
7. 2026-06-10
   days on market $775,000 Active 36 DOM
8. 2026-06-09
   days on market $775,000 Active 35 DOM
9. 2026-06-08
   days on market $775,000 Active 34 DOM
10. 2026-06-07
    days on market $775,000 Active 33 DOM
11. 2026-06-03
    days on market $775,000 Active 29 DOM
12. 2026-06-03
    days on market $775,000 Active 28 DOM
13. 2026-06-01
    days on market $775,000 Active 27 DOM
14. 2026-05-31
    days on market $775,000 Active 26 DOM
15. 2026-05-31
    days on market $775,000 Active 25 DOM
16. 2026-05-05
    listed $799,999 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast UT · Resets to sale price

• Current annual tax: $2,969 · $247/mo
• Projected year-2 tax: $5,115 · $426/mo
• Expected delta: +$2,146/yr (+$179/mo · 72.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,355
• − Mortgage interest: −$43,412
• − Property taxes: −$2,969
• − Insurance: −$3,875
• − Repairs & maintenance: −$4,028
• − Management: −$4,028
• − HOA: −$1,128
• − Depreciation: −$22,545
• Taxable loss: −$31,631
• Est. tax savings @ 24.0%: +$7,591
• After-tax cash flow: $-9,370/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Alpine District
• NCES district ID: 4900030
• Math proficiency: 45% ▼ -4.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $68,595
• Composite: 42.48/100
• National rank: #3213
• State rank: #25 of 80 in UT

Livability — Lehi

• Score: 88/100
• State rank: #6
• US rank: #242

Category grades

Amenities B+ Commute A+ Cost of living F Crime A+ Employment A+ Housing A+ Health & safety A User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lehi, UT

Population outlook (Utah County) Hauer SSP2

• Today (2025): 693,420 people
• By 2030: 757,324 · +9.2%
• By 2040: 893,178 · +28.8%
• By 2050: 1,035,842 · +49.4%
• By 2075: 1,376,733 · +98.5%
• By 2100: 1,609,388 · +132.1%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: ▲ 37.66%
• Current HPI: 262.22
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.54%
• F500 in state: 2

Industry mix (Fortune 500 HQ in UT)

Industry	F500 HQs	Revenue
▸Financial Services	1	$3B

Price history

1 event — show timeline

• 2026-05-05 Listed $799,999 WFRMLS

Property tax history

+16.9%/yr

Latest (2025): $2,969 · +9.7% YoY. Source: county tax records.