780 Main St

Park City, UT 84060

$24,900C-

2 bd · 2.0 ba · 1,253 sqft · Built 1994 · Condo · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,396/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$108
• HOA: −$125
• Vac / Maint / Mgmt: −$923
• Net cashflow: $3,109/mo
• Annual: $37,308/yr
• Cap rate: 159.33%
• Cash-on-cash: 546.56%
• DSCR: 25.32
• 1% rule: 17.65%
• Cash to close: $6,972

Investor read

• This is a 2-bed/2.0-bath condo listed at $25k.
• At list price, monthly cash flow is $3k ($37k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $25k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($172 loan paydown + $2k appreciation (6.7% local appreciation)).
• Location reads 72/100 on livability (#78 in UT) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime D, cost of living F, health & safety F.
• Park City District (town): math 46% / reading 53% proficiency, ranked #9 of 80 in UT (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Mcpolin School (math 62% / reading 52%, grade C+, #75 of 585 statewide, top 14%, 403 students, 29% FRL); Ecker Hill Middle (math 48% / reading 55%, grade C, #23 of 138 statewide, top 17%, 705 students, 18% FRL); Park City High (math 39% / reading 58%, grade D, #33 of 171 statewide, top 19%, 1,224 students, 13% FRL) — zoned schools at 20% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 716 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 917 units permitted in Summit County in 2024 (529 in 5+ unit buildings).
• Summit County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 11 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• This rent runs 41% of the median local income ($128k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.
• How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.